|Teaching method||Contact hours|
|Course coordinator(s)||dr. JG Klomp|
|Lecturer(s)||dr. JG Klomp|
|Examiner(s)||dr. JG Klomp|
Language of instruction:
Assumed knowledge on:
DEC-22306 Macroeconomics & Policy and DEC-21806 Macroeconomics and International Trade or equivalent courses.
This is an advanced course which is part of the Research Master Variant in the MSc programms MID and MME.
The course seeks to give students a thorough understanding of some fundamental workhorse models in macroeconomics and to introduce them to methods of formal macroeconomics analysis. We first introduce and develop the Solow model in discrete time to explain income difference across countries in the world economy. Next, we discuss endogenous growth models to explain the observation of sustained economic growth in industrialized countries. We proceed with a discussion of whether or not sustained economic growth is possible in the future despite of natural resource scarcity. Finally, we will deal with the economy in the short run, focusing on the explanation of unemployment and business cycle fluctuations.
After successful completion of this course students are expected to be able to:
- analyse and evaluate the most fundamental workhorse models in macroeconomics;
- evaluate state-of-the-art macroeconomic literature in a broad range of relevant policy issues;
- construct a theoretical or empirical macroeconomic model for their own research.
There are three classes each lecture week except the last one. The first two of each three classes in a lecture week are combined lecture and tutorial, whereas the third class is reserved for tutorials only. The last lecture week contains an overview lecture.
Birch Sorensen Peter; Whitta-Jacobsen, Hans Jorgen. (2005). Introducing Advanced Macroeconomics: Growth and Business Cycles. McGraw-Hill.