Kursinformation

This course teaches the basics of modern macroeconomics, especially Dynamic-Stochastic-GeneralEquilibrium (DSGE) models and the necessary quantitative methods to work with such models. The introduction of the DSGE workhorse models is given in an intuitive and applied approach, leaving detailed discussion about assumptions and theorems for later courses. Hence, this course is meant as a bridge between intermediate macroeconomics in a Bachelor program and a Research Master course.

The content of this course focusses on business cycle dynamics and monetary and fiscal policy. We will analyze efficiency and effectiveness of different discretionary policies and automatic stabilizers. Using quantitative models and computational simulation (Matlab and the Dynare toolbox), we will analyze the trade-offs and pitfalls of both monetary and fiscal policy.

Having passed the course, students should be able to conduct basic quantitative monetary and fiscal policy analysis, a skill widely asked for by central banks and government institutions. Furthermore, students should be able to summarize the major contemporaneous questions of macroeconomics and relate them to the real world and policy issues.