ECS507 PhD Macroeconomics II

• 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

  None.

• Assessment

  Grading will be based on a term paper that is to be completed individually. The term paper is handed out during the last week of lectures, and is to be completed within three weeks.

  Re-take is offered the semester after the course was offered for students who signed up for the initial evaluation.

• Grading Scale

  Pass-fail

• Computer tools

  Matlab

• This is an ENGAGE-course

  This course is offered to PhD candidates from the ENGAGE.EU alliance.