Advanced Macroeconomics

Course Term: 
1st year
ECTS credits: 
Course Description: 

Course Description

We introduce the fundamental methods and toolkit needed to analyze dynamic general equilibrium optimizing models in discrete time. The goal of this course is to provide students with understanding a set of key macroeconomic models. While there is no single textbook for the course, the lectures loosely follow sections in Krussell (K): Real Macroeconomic Theory, manuscript, 2014.

For the lectures on incomplete markets Ljungqvist and Sargent: Recursive Macroeconomic Theory is a helpful reference.

Additional recommended readings will be available online.

Learning Outcomes: 

Learning Outcomes

ü  Students understand the mechanics of the relevant models taught.

ü  They are able to set up and solve standard dynamic macroeconomic models.

ü  They understand how macro models relate to macro data.

ü  They know how to use standard software for solving and simulating macro models.


Assessment for the whole 3-credit course is through a final exam and problem sets, the former accounting for 80%, the latter for 20% of the total course grade. You are free to work in study groups for problem sets, but you need to hand in an individual solution.


Pre-requisites: This is a compulsory, core class for first-year PhD students. Enrollment is open to interested second-year MA students as well.

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