Sylabus
Outline:
1. Course introduction + Economic Growth - stylized facts and issues
2. Determinants of long-term growth - Solow-Swan Model
3. Micro-based modeling of long-term growth - Ramsey model I
4. Micro-based modeling of long-term growth - Ramsey model II
5. Determinants of long-term growth - AK models and endogenous growth models
6. Micro-based modeling of short-term fluctuations - Real Business Cycle Models
7. Micro-based modeling of short-term fluctuations - Real Business Cycle Models
8. Policy issues: Inflation and Monetary Policy
9. Policy issues: Unemployment
10. Micro-based modeling of short-term fluctuations - Nominal rigidities (intro)
11. Micro-based modeling of short-term fluctuations - Full model with rigidities
12. New Keynesian DSGE models
13. Summary and Consultation Grading: Assignments (three throughout the semester): each for 12 points maximum (together 36 points) Midterm: 24 points maximum, no make-up possibility, min 3 points from each part (computation, empirics, theory) Final: 40 points maximum, min 3 points from each part (computation, empirics, theory) Total:100 points. Thresholds: A (100 -
87.0), B (86.9-75.0), C (74.9-60.0), F (<60) Seminars: There are two distinct seminars for the course. Seminar 1 (S1a and S1b) focused on the macroeconometrics and Seminar 2 (S2a, S2b, S2c) on computational methods related to models from the lectures. Students are expected to attend one of the parallel classes of Seminar 1 and one of Seminar
2. Selection of Seminars in SIS is not binding, you may switch from one parallel session to another whenever you want to.
Anotace
The aim of this course is to provide introduction into the study of advanced topics in macroeconomics:
I. Economic growth (Week 1-2)
II. Micro-based modeling of long-term growth (Week 3-5)
III. Policy issues: Monetary policy and unemployment (Week 8-9)
IV. Micro-based modeling of short-term fluctuations (Week 10-12)
Mathematical models are broadly used throughout the course, with special emphasis both on their interpretation and on mastering mathematical methods necessary for development of these models. The language of the course is English.
Moodle site: link below. To log into moodle use your CAS login and password, the key for the course would be announced during the first lecture. All students have to be enrolled in moodle.