ECONG002 - Advanced Macroeconomic Theory
The course will make you familiar with key concepts in modern quantitative macroeconomics and give students a thorough understanding of up-to-date research in a few selected topics. Particular attention will be paid to using economic theory, specifically equilibrium models with heterogeneous agents, to interpret data. The course will be relevant to students wishing to continue to study economics at a postgraduate level, as well as those interested in policy research involving quantitative economic modeling.
1. Tools for Studying Dynamic Economies
Topics include: Dynamic Programming; Numerical Dynamic Programming; and Applications to Neoclassical Growth and Search, Matching and Unemployment
2. Self Insurance and Incomplete Markets
Topics include: Self Insurance (partial equilibrium), Bewley Models
3. Inequality in the Macroeconomy
Topics include: Measuring risk, endogenously incomplete markets
4. Equilibrium Unemployment Theory
Topics include: Theory and applications to European unemployment and business cycle dynamics
2 hours of lectures per week and weekly problem classes
with written assignments. Approximately half of the problem sets will
require solving economic models on a computer. The course will be
examined by a 2-hour written exam in Term 3.