Course type
IWH-DPE Foundation Course, CGDE First-year Course
Lecturers
Professor Dr Matthias Meier (U Mannheim) and Professor Dr Malte Rieth (MLU)
Summary
This is the third course of the first-year triple sequence in Macroeconomics.
The focus of the first part of this course is on the implications of heterogeneous agents in macroeconomics. In doing so, this course introduces basic tools of modern macroeconomics and discusses various applications. The main topics of this course are consumption and savings choices by households and investment choices by firms, with a particular emphasis on the role of imperfect credit markets for both households and firms. The course aims to connect tightly with empirical evidence and to analyze the scope for government interventions.
The second part of the course introduces basic concepts of time series analysis, including short examples and applications to illustrate the statistical concepts. We first cover univariate time series, focusing on stationary and a short treatment of non-stationary data. We then consider multivariate time series models in the form of vector autoregressions in both reduced form and structural form.
Schedule
16.10.2026 09:30-11:00 and 13:30-15:00 IWH, Leipziger Str. 100, 3rd floor, Conference Room
30.10.2026 09:30-11:00 and 13:30-15:00 IWH, Leipziger Str. 100, 3rd floor, Conference Room
13.11.2026 10:30-12:00 and 12:30-14:00 IWH, Leipziger Str. 100, 3rd floor, Conference Room
27.11.2026 10:30-12:00 and 12:30-14:00 IWH, Leipziger Str. 100, 3rd floor, Conference Room
Content
- Credit Market Frictions
- Heterogeneous Consumers
- Heterogeneous Firms
- Time Series
Course requirements
Attendance at all lectures is mandatory and a prerequisite to take the exam.
Information on examination and grading regulations will be provided in the first half of 2026.
Required Reading
1. Credit Market Frictions
Azzimonti, M., Krusell, P., McKay, A. & Mukoyama, T. (2025). Macroeconomics. Chapter 4. https://phdmacrobook.org/
2 Heterogeneous Consumers
Azzimonti, M., Krusell, P., McKay, A. & Mukoyama, T. (2025). Macroeconomics. Chapter 4. https://phdmacrobook.org/
3. Heterogeneous Firms
Azzimonti, M., Krusell, P., McKay, A. & Mukoyama, T. (2025). Macroeconomics. Chapter 4. https://phdmacrobook.org/
4. Time Series
Hamilton, J. (1994). Time Series Analysis. Princeton University Press.
Enders, W. (2004). Applied Econometric Time Series. 2nd Edition. Wiley.
Lütkepohl, H. (2005). New Introduction to Multiple Time Series Analysis. Springer.
Kilian, L., Lütkepohl, H. (2017). Structural Vector Autoregressive Analysis. Cambridge University Press.
Registration
Please register for the course until August 31, 2026 by sending an e-mail to cgde@iwh-halle.de.