DRE 7034 Advanced Macroeconomics II
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
- Log-linearization
- 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.
Covid-19
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.
The course DRE 7033 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.
| Assessments |
|---|
Exam category: Submission Form of assessment: Written submission Weight: 100 Grouping: Individual Duration: 3 Hour(s) Exam code: DRE 70341 Grading scale: Pass/fail Resit: Examination when next scheduled course |
| Activity | Duration | Comment |
|---|---|---|
Teaching | 15 Hour(s) | |
Feedback activities and counselling | 3 Hour(s) | |
Student's own work with learning resources | 20 Hour(s) | |
Prepare for teaching | 10 Hour(s) | |
Group work / Assignments | 20 Hour(s) | |
Submission(s) | 5 Hour(s) | |
Examination | 3 Hour(s) |
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.