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Macroeconomic Analysis

(10140101 / 10140102)

 

Type Lecture / Tutorial
ECTS 6 ECTS (Master)

  

Current Information

Module in the Master's Program

  • Economics: Macroeconomic Analysis
  • Public Economics: Macroeconomic Analysis

Module Description

This course introduces state-of-the-art dynamic macroeconomic models based on microfoundations. We discuss growth and business cycle models. Theory is accompanied by applications using the software Matlab.

Contents (preliminary)

  1. Introduction
    1. Preliminaries
    2. Stylized facts on economic growth and business cycles
  2. From old to modern macroeconomics
    1. Refresher: IS-LM and AS-AD
    2. The Lucas critique
    3. Refresher: The Solow growth model
  3. Consumption and saving
    1. Endogenizing the consumption-saving decision
  4. The neoclassical growth model
    1. The Ramsey-Cass-Koopmans-model
    2. Model applications in theory and practice
  5. Business cycles in the neoclassical growth model
    1. Introducing the real business cycle model
    2. Solving the model
    3. Model properties and the Hansen model as extension
    4. Critical discussion
  6. Endogenous growth
    1. The AK-model
    2. The Romer model(s)

Language: English

Examination form: Exam

Contact: Prof. Dr. Britta Gehrke and Erik Dasenbrock, ls-makrooekonomik@wiwiss.fu-berlin.de

Literature

  • Romer, David: Advanced Macroeconomics, 5th Edition, 2019.
  • Niepelt, Dirk: Macroeconomic Analysis, 2019.
  • Acemoglu, Daron: Introduction to Modern Economic Growth, 2009.