ECS507 PhD Macroeconomics II

Vår 2025

Topics

This course is designed for first year PhD students. We will use a basic neo-classical macro model as a workhorse to introduce price frictions and heterogeneity in turn. Knowledge of a basic Real Business Cycle (RBC) model is a prerequisite.
The models we use and tools we learn is of interest even if you do not wish to become a macroeconomist. Several features, such as monopolistic competition and incomplete markets, are used in other fields as well.
Learning outcome
Upon completion of the course, the student can:
Knowledge
- Formulate the standard RBC model
- Discuss how to introduce sticky prices into RBC models
- Solve for optimal monetary policy
Skill
- Formulate and solve a dynamic optimisation problem
- Solve system of linear equations using log linearisation
General competence
- Convert real world concerns and policy debate to formal modelling
- Build a research idea
Teaching

The course consists of plenary lectures.
Restricted access
- PhD candidates at NHH
- PhD candidates at Norwegian institutions
- PhD candidates at other institutions
- PhD candidates from the ENGAGE.EU alliance
- Motivated master’s students may be admitted after application, but are subject to the approval from the course responsible on a case by case basis
- Individuals outside academia may be admitted after application, but are subject to the approval from the course responsible and the Vice Rector for Research on a case by case basis
Recommended prerequisites

ECS506 PhD Macroeconomics I
Compulsory Activity

Participation in class and completion of 3 mandatory assignments.
Compulsory activities (work requirements) are valid for one semester after the semester they were obtained.
Assessment

1 assignment is handed out after the last lecture and has a submission deadline of three weeks.

Re-take is offered the semester after the course was offered for students with valid compulsory activities.
Grading Scale

Pass-fail
Computer tools

Matlab