DRE 7011 Lecture series on Oil Markets and the Macro Economy
After taking this course the students should have a solid knowledge of advanced research in oil market models and the link between oil prices, the macroeconomy and monetary policy.
To model and forecast the oil market, the students should master and be able to produce sophisticated research using a variety of linear and non-linear time series methods.
To analyse the link between the oil market, the macroeconomy and monetary policy, the students will be familiar with, among others, structural vector autoregression (VAR) models and Dynamic stochastic general equilibrium (DSGE) models
The course will conver topics such as:
- Alternative Specifications of the Price of Oil
- Driver of the oil price
- Forecasting the Real Price of Oil
- A Review of the Channels of Transmission of Oil Price Shocks
- Are Macroeconomic Responses Asymmetric in Oil Price Increases and Decreases?
- Monetary Policy Responses to Oil Price Fluctuations
- Resource rich economies
A course of 3 ECTS credits corresponds to a workload of 80-90 hours.
Please note that while attendance is not compulsory in all courses, it is the student’s own responsibility to obtain any information provided in class that is not included on the course homepage/It's learning or text book.
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.
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Form of assessment:
Examination when next scheduled course
|Form of assessment:||Written submission|
|Resit:||Examination when next scheduled course|
Feedback activities and counselling
Student's own work with learning resources
Prepare for teaching
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.