Advanced Topics in Macroeconomics


Zaradený v študijných programoch

Výsledky vzdelávania

Teaching results:
Students learn key methods and theories of macroeconomics and are provided with the tools and concepts needed to understand current state of research in macroeconomic theory. After having finished the course, students will be able to understand scientific papers and the methodologies representing the research frontier of macroeconomic theory. The aim of the course is to familiarize students with standard macroeconomic theory and based on the acquired theoretical knowledge to develop students' analytical skills so that they are able to analyze real macroeconomic problems, identify their causes and solutions. The course is focused at presenting standard macroeconomic theory, enabling students to critically examine existing theory and construct alternatives. Also, it aims to prepare students for conducting an independent research. The topics discussed are not presented solely from the technical and theoretical perspectives, but applications, open questions and existing debates are also studied. The ways to choose among those, to construct theories and to develop theoretical arguments will be also discussed. The topics covered may vary from year to year so as a wide range of topics was surveyed, but at the same time, sufficient analytical depth was ensured. By the end of the course, students will be able to:
- apply their knowledge to sole dynamic macroeconomic systems and simulation changes in model parameter;
- understand, interpret and use the latest ideas of modern macroeconomics published in top economic journals.

Stručná osnova predmetu

Indicative content:
Economic Growth and Economic Development, Ricardian Equivalence, Towards Neoclassical Growth, Solow Growth Model and the Data, Dynamic General Equilibrium, Dynamic OptimizationDynamic Programming and Optimal Growth, Neoclassical Growth, Endogenous Technological Change, Stochastic Growth, The Competitive Equilibrium model of a Dynamic Stochastic Economy, Technology Diffusion, Trade and Interdependences, Political Economy of Growth, Credible Government Policies, Fiscal Policies in a Growth Model, Optimal Taxation with Commitment, Ramsey taxation problems, Restrictions on government policy implied by the arithmetic of budged sets, Fiscal-Monetary Theories of Inflation, Monetary Policy Design in the Basic New Keynesian Model, Monetary Policy Tradeoffs: Discretion versus Commitment, A Model with Sicky Wages and Prices, Monetary Policy and the Open Economy, Foundations of Aggregate Labor Supply, Social insurance with private information and enforcement problems. Optimal Unemployment Insurance, Savings Problems and Bewley Models.
The topics covered may vary from year to year so as a wide range of topics was surveyed, but at the same time, sufficient analytical depth was ensured.

Odporúčaná literatúra

Support literature:
1. Ljungqvist, Lars, Thomas J. Sargent. 2018. Recursive Macroeconomic Theory. 4th Edition. MIT Press.
2. Sargent, Thomas J. and John Stachurski. 2017. Quantitative economics[website],
3. Acemoglu, Daron. 2009. Introduction to Modern Economic Growth. Princeton University Press, ISBN 9780691132921, 1008 p.
4. Jordi Galí. Monetary Policy, Inflation, and the Business Cycle. Princeton University Press, 2015, ISBN 9780691164786
5. Romer, David. Advanced macroeconomics. 4th ed. New York : McGraw-Hill/Irwin, 2012. 716 p. The McGraw-Hill series in economics. ISBN 978-0-07-351137-5.
6. Carlin, W., Soskice, D. Macroeconomics. Imperfections, Institutions and Policies, Oxford, OUP, 2006.
7. Cariaini, Petre. 2019. Introduction to Quantitative Macroeconomics Using Julia: From Basic to State-of-theArt Computational Techniques. Academic Press. (Note that the code examples in the book use Julia 0.6. We will be using version 1.4, and discuss the necessary changes.)

Podmienky na absolvovanie predmetu

Requirements to complete the course:
260 hours of work
40% - two research papers
10% - active contribution to discussions in class
50% - written exam

Dátum schválenia: 13.02.2023

Dátum poslednej zmeny: 14.06.2021

Dátum schválenia: 13.02.2023

Dátum poslednej zmeny: 14.06.2021