DRE 7041 Topics in Macroeconomics II
The content of this course will change over the years. In the next year, it will cover global numerical solutions, solutions models with occasionally binding constraints and modeling, solution and estimation of New Keynesian Heterogeneous agents (HANK) models.
The students should master and produce sophisticated research on dynamic general equilibrium models and on their implementation with computer simulations.
After taking this course the students should have a solid knowledge of advances numerical methods used to solve problems in macroeconomics, finance and international economics, understand how to deal with zero lower bounds and with time varying structures, and solve and analyze heterogeneous models of monetary and fiscal policy.
The students should be able to build, solve and estimate models so as to analyze research questions that are at the frontier in macroeconomics.
Lecture 1-2: Global solution methods for DSGE models.
Lecture 3: Occasionally binding constraints and time varying structures.
Lecture 4-5: Theory and solution of HANK models
Lecture 6: Estimation of Hank models.
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.
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 courseleader. 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.
Due to the Covid-19 pandemic, there may be deviations in teaching and learning activities as well as exams, compared with what is described in this course description.
Information about what is taught on campus and other digital forms will be presented with the lecture plan before the start of the course each semester.
To properly follow the course, participants must be familiar with DSGE models, and must have followed the basic first year time series course. Familiarity with Matlab is a prerequisite. Knowledge of Dynare and Rise a plus.
|Exam category||Weight||Invigilation||Duration||Grouping||Comment exam|
Form of assessment:
Internal and external examiner
Examination when next scheduled course
|100||No||1 Month(s)||Individual||Written assignment ( individually ) consisting of a maximum of 10 pages (plus references and appendix ).|
|Form of assessment:||Written submission|
|Comment:||Written assignment ( individually ) consisting of a maximum of 10 pages (plus references and appendix ).|
|Exam code:||DRE 70411|
|Resit:||Examination when next scheduled course|
Group work / Assignments
Student's own work with learning resources
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.