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, statespace 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, 4th edition (MIT Press, USA: 2018); selected journal articles.
Reference list (Prof Weinke): Selected articles.
Time & venue:
Lectures: Wednesdays, 8:30-12:00; until 08.12.2021: DIW, Mohrenstraße 58, Elinor Ostrom Hall 1.2.019, afterwards: online
Exam:
Written exam
More information can be found on Moodle.
