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| Detailed information |
| Original study plan |
Master's programme Economics 2021W |
| Objectives |
Students know core theories and research methods in the field of monetary and macroeconomics. They understand how, when, and why to apply these theories and methods to new questions from the relevant field of study.
The course builds on the introductory subjects and courses from the field of macroeconomics in the Bachelor’s degree program Economics and Management (Wirtschaftswissenschaften 2020W). It expands and deepens the theoretical and empirical knowledge and capabilities attained.
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| Subject |
Intertemporal optimization, consumption-savings problem of households, firm profit maximization, general equilibrium without and with markets, adjustment costs (real rigidities), the economy with money, sticky prices and wages (nominal rigidities), the New-Keynesian model, monetary policy trade-offs, empirical monetary economics (using vector-autoregressive models)
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| Criteria for evaluation |
Exam and homework exercises
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| Methods |
Macroeconomics, constrained optimization, multivariate time series econometrics
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| Language |
English |
| Study material |
David Romer (2018), Advanced Macroeconomics, fifth edition, McGraw-Hill Economics
Wickens, Michael (2008), Macroeconomic Theory – A Dynamic General Equilibrium Approach, Princeton University Press
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| Changing subject? |
No |
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