DRE 7034 Advanced Macroeconomics II
This half semester course aims to introduce students to the basic models of business cycles used in modern macroeconomics. We will start with the Real business cycles model and examine its empirical performance. We will then study the New Keynesian Model and introduce monetary policy in that framework.
After taking this course, students will be able to understand the main models used in modern business cycle analysis and monetary policy analysis. Specifically, they will gain fundamental knowledge about:
- Key facts about the business cycles;
- The Real business cycles model;
- The New Keynesian model;
- Introduction to Monetary Policy.
Students should be able to:
- Understand the basics of several workhorse models in business cycle analysis.
- Apply log linearization techniques.
- Analyze the impact of monetary policy on the economy.
Students should be able to
- develop an understanding of the mechanisms and interactions involved in the functioning of the macroeconomy.
- critically assess the underlying assumptions of the methods used.
- Facts about the business cycle
- Real Business Cycle theory and performance
- The New Keynesian Model
- Intro to Monetary Policy
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 – both in discussions and by presenting models/material from the reading lists – as well as solve and hand in solutions to exercises and problems.
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.
The course DREXXX1 Advanced Macroeconomics I is a required prerequisite for this course. Exemptions can be made only on a case-by-case basis after consultations with the instructor.
|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 70341|
|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.