Core courses
Credits

Description:
The objective of this course is to teach M.A. and Ph.D. students to use macroeconomic concepts and techniques for their own research and incorporates a higher degree of formal analysis than in the introductory master’s lecture (IAMA).

Part I (Prof. Burda): Methods of modern macroeconomics for researchers in the field. Stationary Markov environments, state-space methods, stochastic difference equations. Dynamic programming and Lagrangian methods, complete markets, dynamic stochastic general equilibrium models, solution techniques. The Ramsey problem.

Part II (Prof. Weinke): Dynamic stochastic general equilibrium (DSGE) models for positive and normative macroeconomic analysis. To this end a number of theoretical and empirical concepts are presented: The computation of impulse response functions, structural vector autoregressions, as well as an introduction to structural estimation. On the normative side the concept of Ramsey optimal policy is presented.

Literature:
Reference list (Prof. Burda): Ljungqvist and Sargent, Recursive Macroeconomics, 3nd edition (Cambridge, USA: 2012); selected journal articles available on moodle.
Reference list (Prof Weinke): Selected articles, e.g., Galí, Jordi (2018), The State of New Keynesian Economics: A Partial Assessment, in: Journal of Economic Perspectives, Volmue 32, Number 3, Pages: 87 - 112.

Any further documents needed for the lecture will be available on moodle.

Time & venue:
Lectures: Wednesdays, 8:30-12:00; DIW Berlin, Mohrenstraße 58, 10117 Berlin, Ostrom-Hall

Exam:
Two exams, one for each instructor.

More information can be found on Moodle.

Lecturer(s)
Guest Lecturer(s)

Thomas Dengler