This course’s objective is designed to develop the theoretical building blocks and tools of dynamic macroeconomics at advanced level.
20
Contribution of the Course to Professional Development
Students taking the course will gain the ability to use advanced macroeconomic tools and analyze dynamic macroeconomic situations.
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Learning Outcomes:
1
Explain the concepts and the role of theoretical macroeconomics.;
2
Discuss the relationship between macroeconomic variables and macroeconomic outcomes ;
3
Interpret actual and advanced level knowledge in macroeconomics at an advanced level of expertise.;
4
Analyze new and complex ideas in macroeconomics critically;
5
Compare results of different macroeconomic frameworks.;
6
Understanding general equilibrium model ;
7
Solve the neoclassical model with money added to it. ;
8
Explain the fundamental assumptions of business cycle facts and real business cycle theory;
9
Use methods to solve dynamic general equilibrium models;
10
Compare centralized and decentralized economies.;
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Course Content:
Week
Theoretical
Practical
1
Tools of dynamic macroeconomics at advanced level
2
Microeconomic foundations of macroeconomics
3
Representative agent models
4
One period and two period general equilibrium models
5
Overlapping generations
6
New Classical Economics
7
New Keynesian Economics
8
Neoclassical model with money
9
Introduction of a basic centralized and decentralized economy
10
Introduction of business cycle facts
11
Real business cycle theory
12
Dynamic general equilibrium models
13
Endogenous Growth Theory
14
Exogenous Growth Theory
23
Textbooks, References and/or Other Materials:
1. Stokey, Nancy L., Lucas, Robert E., Prescott, Edward C. (1989). Recursive Methods in Economic Dynamics. Harvard University Press 2. Ljunggvist, Lars, Sargent, Thomas J. (2004). Recursive Macroeconomic Theory. MIT Press 3. Romer, David (2011). Advanced Macroeconomics. Midnight Sun Books 4. Blanchard, Olivier J., Fischer Stanley (1989). Lectures on Macroeconomics. MIT Press
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Assesment
TERM LEARNING ACTIVITIES
NUMBER
PERCENT
Midterm Exam
1
40
Quiz
0
0
Homeworks, Performances
0
0
Final Exam
1
60
Total
2
100
Contribution of Term (Year) Learning Activities to Success Grade
40
Contribution of Final Exam to Success Grade
60
Total
100
Measurement and Evaluation Techniques Used in the Course
Classic Exam
Information
25
ECTS / WORK LOAD TABLE
Activites
NUMBER
TIME [Hour]
Total WorkLoad [Hour]
Theoretical
14
3
42
Practicals/Labs
0
0
0
Self Study and Preparation
14
3
42
Homeworks, Performances
0
0
0
Projects
0
0
0
Field Studies
0
0
0
Midtermexams
1
25
25
Others
0
0
0
Final Exams
1
35
35
Total WorkLoad
169
Total workload/ 30 hr
4,8
ECTS Credit of the Course
5
26
CONTRIBUTION OF LEARNING OUTCOMES TO PROGRAMME QUALIFICATIONS
