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Instructors: Prof. Michael Bauer
Event type:
Interactive class
Displayed in timetable as:
Elements Macro
Hours per week:
5
Credits:
10,0
Language of instruction:
English
Min. | Max. participants:
- | 45
More information:
Registration period for first-semester students Mon, 10 October 2022, 9 am to Thu, 13 October 2022, 4 pm
Comments/contents:
The course website is on OpenOLAT.
There you will find all course materials, incl. syllabus, slides, problem sets, etc. All electronic communication will happen via OpenOLAT. Please join the course website here:
https://www.openolat.uni-hamburg.de/auth/RepositoryEntry/269320525
Course outline:
1. Economic growth
- Solow model
- Growth accounting and growth empirics
- Neoclassical growth model
2. Business cycles
- Consumption
- Real business cycles
- New Keynesian model
3. Monetary Policy
- Optimal monetary policy
- Monetary policy rules
- Yield curve and zero lower bound
- Practice of monetary policy
4. Fiscal policy
- Government expenditures and fiscal multipliers
- Budget deficits and debt sustainability
Learning objectives:
This course has the following complementary objectives:
- Becoming familiar with the most important topics in modern macroeconomics
- Learning the necessary tools and techniques to formulate and solve dynamic models
- Analyzing macroeconomic policy issues using theoretical models and quantitative methods
Didactic concept:
This course includes two interactive lectures. The main lecture "Elements of Dynamic Macroeconomic Theory" provides an introduction to modern macroeconomics at an advanced level, with a focus on the most important theoretical macroeconomic models in the areas of growth theory, and business cycles. The accompanying lecture "Methods of Macroeconomic Analysis" teaches the analytical, computational and empirical methods used in modern macroeconomics. Both lectures are interactive, meaning that students actively participate in discussions in class, prepare course materials outside class, and independently work on problem sets to deepen their understanding of the material.
The lectures will take place in-person. Attendance of these lectures is expected of the students.
All course materials will be made available via OpenOLAT, including a detailed syllabus, lecture slides, problem sets, a discussion forum, FAQ, etc.
There will be regular problem sets. Students are expected to work on the problems and hand in their solutions via email. Working in groups is allowed. Students who do well on the problem sets will receive a grade bonus of up to +0.7.
There are regular Office hours.
Literature:
The main textbook for the course is "Advanced Macroeconomics" by David Romer, 5th ed., McGraw-Hill, 2019.
Additional readings will be announced in class.
Additional examination information:
In-person exam:
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