[ 971ATECMETK13 ] KS Monetary Economics: Theory and Policy

Workload Ausbildungslevel Studienfachbereich VerantwortlicheR Semesterstunden Anbietende Uni
4 ECTS M2 - Master 2. Jahr Volkswirtschaftslehre Jochen Güntner 2 SSt Johannes Kepler Universität Linz
Anmeldevoraussetzungen keine (die Zulassung zum Studium vorausgesetzt)
Quellcurriculum Masterstudium Economics 2019W
Ziele The goal of this course is to familiarize students with the Dynamic General Equilibrium (DGE) model – the workhorse model in modern theoretical macroeconomics – and to show how it can be employed for monetary policy analysis. The DGE model represents an attempt to account for the optimizing behavior of economic agents at the household or firm level and its implications for the economy as a whole. As a consequence, it provides so-called microeconomic foundations for macroeconomic concepts such as aggregate consumption or real GDP.
  • Introduction: DGE vs. Traditional Macroeconomics
  • The Centralized Economy
  • The Decentralized Economy
  • The Monetary Economy
  • Imperfectly Flexible Prices
  • The Basic New Keynesian Model
  • Monetary Policy in the New Keynesian Model
  • Monetary Policy Tradeoffs: Discretion vs. Commitment
  • Unconventional Monetary Policy, Asset Pricing, or Financial Frictions in Macroeconomics (according to students’ interests)
Beurteilungskriterien Übungsblätter, Schriftliche Prüfung
Lehrmethoden Dynamische Allg. Gleichgewichtstheorie
Abhaltungssprache Englisch
Literatur Michael Wickens (2012): Macroeconomic Theory – A Dynamic Stochastic General Equilibrium Approach; 2nd Edition
Lehrinhalte wechselnd? Nein
Sonstige Informationen This course requires a fundamental knowledge of analytical tools, such as difference and differential calculus and optimization under constraints. Students’ knowledge of these tools and how to use them are refreshed through applications in class and occasional homework assignments.
Teilungsziffer 200
Zuteilungsverfahren Zuteilung nach Vorrangzahl