Humboldt-Universität zu Berlin - Economic Theory II (Macro)

Advanced Macroeconomic Analysis II (PhD-level)

The first part of the course studies monetary theory: how future expected money supply affects the current price level, why money can be written in the utility function and what is required to determine a unique equilibrium with rational expectations. Turning to the foundations of New Keynesian Macroeconomics, we analyze why monopolistic competition leads to an active role for monetary policy, derive the forward looking Phillips curve and study optimal monetary policy. 

The second part of the course is dedicated to the solution of DSGE models in general and in particular models in which labor market frictions play a prominent role. It is designed to develop and sharpen students' prior knowledge of dynamic macroeconomics and econometrics with a mixture of lectures on state-of-the-art solution and the estimation techniques for macroeconomic models and application of the techniques with standard software packages and models from the literature.

Lecturer: Prof. Dr. Frank Heinemann

Literature: Selected articles

Preconditions: Advanced Macroeconomic Analysis I and basic understanding of time-series and linear-model econometrics

Module: MA Economics: 6 Credits, Module: "Advanced Macroeconomic Analysis II (PhD-level)"

Exam: Written exam (90min)


Find this course in Agnes and Moodle.