Advanced Macroeconomic Theory

Course description

The objective of this course is to give students a basic understanding of modern dynamic macroeconomic theory, particularly in the context of dynamic general equilibrium models. Students will become familiar with the following workhorse models of macroeconomic analysis:

We will discuss the limitations and gains of the underlying assumptions in depth, so that students understand how to combine different ideas and extend standard frameworks. We will cover some applications and extensions, including Heterogeneous Agent New Keynesian (HANK) models. The course will also include an introduction to common numerical solution methods.

This course is aimed at PhD students and advanced Master students with an interest in macroeconomic research. It is meant to prepare participants to perform macroeconomic analysis independently in an academic environment and to understand modern macroeconomic literature.

Lectures

The material is taught across 13 lectures. Lectures are usually held on Thursdays, 10.15-12.00, in room ES Sem 947 (UiO Campus Blindern, Eilert Sundts Hus).

There will be two lectures in week 41 (Wednesday, 07.10., 14:15-16:00, and the usual Thursday lecture) and no lectures in week 42.

Exercises and seminars

The lectures are accompanied by 8 problem sets. Some exercises will ask students to implement a model in MATLAB.

The problem sets will be discussed in seminars on Thursday afternoons. Students should hand in the completed problem sets at 2pm on the day before the seminar.

See these slides for details.

Exam

There will be a 3-hour exam on Wednesday, 25.11., 09.00-12.00. The exam will consist of questions similar to (but generally easier than) the ones covered in the problem sets.

Materials

Materials will become available on this page throughout the term. You need a password which was given out in the first lecture.

The main reference for the course is Introduction to modern economic growth by Daron Acemoglu.

Helpful links