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DTSTART;TZID=Europe/Berlin:20250509T103000
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DTSTAMP:20260502T042738
CREATED:20250117T150642Z
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UID:987504070-1746786600-1746801000@cgde-home.de
SUMMARY:Macroeconomics
DESCRIPTION:Workload: 150 hours / 6 ECTS\nLecture: Bi-weekly\, 14 x 90 minutes\, in person\nBegin: 11.04.2025\nTime: Fridays 10:30 – 12:00 and 13:00 – 14:30\n  \nRegistration\nPlease register for the course until March 31\, 2025 by sending an e-mail to cgde@iwh-halle.de.\nThe course is designed for at most 25 participants. \nExam\n6 of 7 Problem Sets (at least one from every block indicated by Roman numbers) have to be successfully passed to complete the course. \nSchedule\n\n			\n				\n			\n			Professor Dr Lars Börner\n		 \n		\n			Professor Dr Thomas Steger\n		 \n		\n			Professor Dr Roland Winkler\n		\n		 \n		\n			\n				\n					\n			11.04.2025 10:30 – 12:00 / 13:00 – 14:30 \n25.04.2025 10:30 – 12:00\n		 \n		\n			25.04.2025 13:00 – 14:30 \n09.05.2025 and 30.05.2025 10:30 – 12:00 / 13:00 – 14:30\n		 \n		\n			06.06.2025\, 20.06.2025 and 04.07.2025 10:30 – 12:00 / 13:00 -14:30class\n		\n				\n			\n		\n			\nCourse contents\n\nTechnology\, Institutions and Growth (Professor Dr Lars Börner)\n\nLong Run Growth: Technology and Human Capital\nLong Run Growth: Institutions\nState Formation and Policy: Welfare State\, Fiscal and Monetary Policy\n\n\nQuantitative Growth Modeling (Professor Dr Thomas Steger)\n\nMethods: Dynamic Optimization & Numerical Solution\nWorkhorse Models: Ramsey & OLG\nEndogenous Growth: Education & Technological Change\nEconomic Growth & Climate Change\n\n\nDynamic Stochastic General Equilibrium Models of Fluctuations (Professor Dr Roland Winkler)\n\nThe Baseline Real Business Cycle Model\nThe Baseline New Keynesian Model\nMonetary and Fiscal Policy in the Baseline New Keynesian Model\nMacroeconomic Stabilization Policies in Models with Heterogeneity\n\n\n\nMain Literature\nLiterature marked with an asterisk has to be studied beforehand. \nI.1 Long Run Growth: Technology and Human Capital\n(*) Goldin\, Claudia. Human Capital. In: Claude Diebolt and Michael Haupert\, Handbook of Cliometrics. Berlin: Springer Verlag 2016\, 55-86.\n(*) Mokyr\, Joel.  Long-term Economic growth and the History of Technology. Handbook of Economic Growth\, Volume 1\, Part B\, 2005\, 1113-1180.\nI.2 Long Run Growth: Institutions\n(tba)\nI.3 State Formation and Policy: Welfare State\, Fiscal and Monetary Policy\n(*) Dincecco\, Mark and Gabriel Katz. State Capacity and Long-Run Economic Performance: The Economic Journal. Vol. 126 (Feb.)\, pp. 189-218.\n(*) Johnson\, Noel D. and Mark Koyama. States and Economic Growth: capacity and constraints. Explorations in Economic History. 2017\, Vol. 64\, pp. 1-20.\n(*) Przeworski\, Adam\, and Fernando Limongi. Political Regimes and Economic Growth. Journal of Economic Perspective. 1993. Vol. 7 (3)\, pp.  51-69.\nII.1 Methods: Dynamic Optimization & Numerical Solution\n(*) Azzimonti\, M.\, P. Krusell\, A. McKay\, and T. Mukoyama (2024). Macroeconomics. With T. Boppart\, G. Corsetti\, L. Dedola\, J. Hassler\, J. C. Hatchondo\, J. Heathcote\, A. Hornstein\, P. Klenow\, S. Lloyd\, L. Martinez\, K. Mitman\, C. Olovsson\, M. Piazzesi\, V. Quadrini\, M. Ravn\, R. Rogerson\, V. Rios-Rull\, A. Sahin\, M. Schneider\, K. Storesletten\, and G. Violante. https://phdmacrobook.org/. Chapters 4 & 9.\nSee also the Relaxation website: https://sites.google.com/view/relaxmacro\nII.2 Workhorse Models: Ramsey & OLG\n(*) Acemoglu\, D. (2009): Introduction to Modern Economic Growth\, Princeton University Press\, Chapters 8-9.\nII.3 Endogenous Growth: Education & Technological Change\n(*) Acemoglu\, D. (2009): Introduction to Modern Economic Growth\, Princeton University Press\, Chapters 10\, 12 & 13.\nII.4 Economic Growth & Climate Change\n(*) Azzimonti\, M.\, P. Krusell\, A. McKay\, and T. Mukoyama (2024). Macroeconomics. With T. Boppart\, G. Corsetti\, L. Dedola\, J. Hassler\, J. C. Hatchondo\, J. Heathcote\, A. Hornstein\, P. Klenow\, S. Lloyd\, L. Martinez\, K. Mitman\, C. Olovsson\, M. Piazzesi\, V. Quadrini\, M. Ravn\, R. Rogerson\, V. Rios-Rull\, A. Sahin\, M. Schneider\, K. Storesletten\, and G. Violante. https://phdmacrobook.org/. Chapter 24.\nBarrage\, Lint & William D. Nordhaus (2023): Policies\, Projections\, and the Social Cost of Carbon: Results from the DICE-2023 Model\, NBER Working Paper 31112.\nDietz\, S.\, & Venmans\, F. (2019). Cumulative carbon emissions and economic policy: In search of general principles. Journal of Environmental Economics and Management\, 96\, 108-129.\nIII Dynamic Stochastic General Equilibrium Models of Fluctuations\n(*) Azzimonti\, M.\, P. Krusell\, A. McKay\, and T. Mukoyama (2024). Macroeconomics. With T. Boppart\, G. Corsetti\, L. Dedola\, J. Hassler\, J. C. Hatchondo\, J. Heathcote\, A. Hornstein\, P. Klenow\, S. Lloyd\, L. Martinez\, K. Mitman\, C. Olovsson\, M. Piazzesi\, V. Quadrini\, M. Ravn\, R. Rogerson\, V. Rios-Rull\, A. Sahin\, M. Schneider\, K. Storesletten\, and G. Violante. https://phdmacrobook.org/. Chapters 1-2\, 13\, 17.\n(*) Bilbiie\, F. O. (2020): The New Keynesian Cross. Journal of Monetary Economics 114\, 90-108.\nGali\, J. (2015): Monetary Policy\, Inflation\, and the Business Cycle: An Introduction to the New Keynesian Framework and Its Applications. Second Edition. Princeton University Press. Chapters 1-5.\nWoodford\, M. (2011): Simple Analytics of the Government Expenditure Multiplier. American Economic Journal: Macroeconomics 3(1)\, 1-35.
URL:https://cgde-home.de/event/macroeconomics/
LOCATION:Halle Institute for Economic Research (IWH) – Member of the Leibniz Association\, Kleine Maerkerstrasse 8\, 06108 Halle (Saale)\, conference room (ground floor)\, Kleine Märkerstraße 8\, Halle (Saale)\, Saxony-Anhalt\, 06108\, Germany
CATEGORIES:First-Year Courses
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