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Aims:
This is a graduate course in macroeconomic theory. It introduces to the key building blocks of modern macroeconomic theory using recursive methods. The course looks at both real economies and monetary economies and at economic policy as well as positive aspects of macroeconomics. Students will be solving problem sets in the tutorial classes.
Course outline:
At the end of the course, students should be familiar with the following topics: Determination of income in the long run; the Ramsey model; intertemporal optimization and general equilibrium; welfare theorems; dynamic programming; Euler equations; consumption theory and labor supply in general equilibrium; business cycle fluctuations; Dynamic stochastic general equilibrium models; temporary equilibrium and price level determination; Overlapping generations; macroeconomic models of asset pricing; inflation and nominal rigidities; basic models of monetary policy.
| Taught by: | Vincent Sterk |
| Assessment: | Three hours of lectures per week and one weekly tutorial class throughout Term 1. Three-hour unseen closed-book exam in Term 3. Assessment is made solely on the basis of the exam but problem sets are essential in gaining a good understanding of the material. |
| Suitable for: | Graduate students |
| Prerequisites: | Enrolled on the UCL MSc Economics or UCL MSc Data Science & Public Policy (Economics route) |
| Moodle page: | ECON0066 |
