Elective courses

This course teaches new developments in the field of monetary economics. We start by a refresher on the dynamic New Keynesian model that is at center stage in the course "Monetary Economics". We then continue with analyses of indeterminacy and welfare. In each case we will put particular emphasis on the role played by features that make New Keynesian theory attractive from an empirical point of view. We will also develop the techniques that are necessary to work with those concepts. In the second part of the course we will discuss some recent extensions of the New Keynesian model. Examples include open economy models as well as models with heterogeneous agents. Those features are empirically motivated and their presence also has important normative implications, as we are going to see.

GalĂ­, Jordi (2015): Monetary Policy, Inflation and the Business Cycle, Princeton University Press.
Further literature: see Moodle

Time & venue:
Lectures: Mondays, 14:00-16:00 (starting on 17.04.2023), HU Berlin, Spandauer Str. 1, room 125
Tutorials: Tuesdays, 10:00-12:00 (starting on 18.04.2023), HU Berlin, Spandauer Str. 1, room 125

Written exam

More information can be found on Moodle.