DRE 7033 Advanced Macroeconomics I
This half semester course aims to introduce students to the basic models and modeling tools in modern macroeconomics. We will start with core issues in the theory of consumption, followed by a rigorous introduction to the neoclassical growth model. In the process we will also cover dynamic optimization tools, which are extensively used in modern macroeconomics.
After taking this course, students will be able to understand the main theoretical frameworks and apply the main modeling tools used in modern macroeconomics. Specifically, they will gain fundamental knowledge about:
- Individual consumption-saving decisions;
- Economic growth;
- Dynamic programming applied to macroeconomic models.
Students should be able to:
- Understand the basics of several workhorse models in macroeconomics.
- Apply recursive methods to solve macroeconomic problems.
- Solve recursive problems used in macroeconomic models.
Students should be able to
- develop an understanding of the main mechanisms and interactions involved in the functioning of the macroeconomy.
- critically assess the underlying assumptions of the methods used.
- Introduction to the Consumption-Saving Model and Euler Equations
- The Neoclassical Growth Model
- Introduction to Dynamic Programming
- Introduction to Numerical Dynamic Programming
There will be 5 lectures (15 lecture hours). In addition, 3 lecture hours will be used for exercises and for providing feedback to students on problem sets. Students are required to participate in class, as well as solve and hand in solutions to exercises and problem sets.
A course of 3 ECTS credits corresponds to a workload of 80-90 hours.
Teaching activities include:
- formal lectures;
- practical exercises on the computer;
- out-of-the-classroom discussions and consultations.
Learning activities include:
- preparing with assigned readings and instructional content through other media (e.g. online videos) ahead of classroom sessions;
- active participation in classroom discussions;
- work on several problem sets, including computer exercises;
- preparing for and taking the final written assessment.
Enrollment in a PhD programme is a general requirement for participation in PhD courses at BI Norwegian Business School.
External candidates are kindly asked to attach confirmation of enrollment in a PhD programme when signing up for a course. Other candidates may be allowed to sit in on courses by approval of the course leader. Sitting in on a course does not permit registration for the course, handing in exams or gaining credits for the course. Course certificates or confirmation letters will not be issued for sitting in on courses.
|Exam category||Weight||Invigilation||Duration||Grouping||Comment exam|
Form of assessment:
Internal and external examiner
Examination when next scheduled course
|Form of assessment:||Written submission|
|Exam code:||DRE 70331|
|Resit:||Examination when next scheduled course|
Teaching on Campus
Feedback activities and counselling
Student's own work with learning resources
Prepare for teaching
Group work / Assignments
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 3 ECTS credit corresponds to a workload of at least 80 hours.