ENR-30806 Advanced Macroeconomics

Course

Credits 6.00

Language of instruction:

English

Assumed knowledge on:

Macroeconomics and Policy (DEC-22306) and Macroeconomics and International Trade (DEC-21806) or equivalent courses

Contents:

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.

Learning outcomes:

Students will master the foundations of modern macroeconomic theory, and will be able to understand the state of the art literature in a broad range of relevant (policy) issues.
Students will be able to apply key concepts in modern macroeconomics and apply them in their own research.

Activities:

Lectures, exercises, working classes, self study.

Examination:

Written exam.

Literature:

Peter Birch Sorensen and Hans Jorgen Whitta-Jacobsen 2005. Introducing Advanced Macroeconomics: Growth and Business Cycles. McGraw-Hill.