Makroökonomik für Fortgeschrittene

Dozenten:	Prof. Dr. Sebastian Gechert (V); Dr. Bianka Mey (Ü)
Zeit/Ort:	Vorlesung, digital: donnerstags, 9.15 Uhr -- 10.45 Uhr
Übungstermine:	Übung, 14-täglich (ungerade KW), montags, 9.15 Uhr -- 10.45 Uhr
Zuordnung:	siehe Vorlesungsverzeichnis
Erste Veranstaltung:	14.10.2021 (KW 41)
Erste Übung:	25.10.2021 (KW 43)

Ziel:

This course focuses on advanced topics in macroeconomics. Students learn about thestylized facts and different theories of growth, development, business cycles and macroeconomicpolicies. Models of various schools of economic thought will be critically discussedand compared to each other. After successful completion of the course, studentsshould be able to approach the related academic literature as well as current policy debates.They should develop critical thinking to evaluate the scope and limits of differenteconomic theories / models for real world problems. Knowledge of basic concepts ofmacroeconomics and microeconomics is required. Students should have completed therespective introductory courses.

 

Gliederung:

Introduction
Lecture 1: Stylized Facts • Stylized Facts of Long-Term Growth and Business Cycles

Lecture 2: Overview of Macroeconomic Theories • Overview of Macroeconomic Theory • Alternative Modeling Approaches

 

Long-Term Growth

Lecture 3: Basic Neoclassical Growth Models • The Solow-Swan Growth Model • The Ramsey Model

Lecture 4: Neoclassical Endogenous Growth Models • Technological Change • Human Capital

Lecture 5: Keynesian Demand-Constrained Growth Models • Potential Output and Hysteresis • Investment Demand and Saving Supply

 

Short-Term Growth

Lecture 6: The Neoclassical Synthesis • The Neoclassical Synthesis • The Dynamic AS-AD Model

Lecture 7: New Classical Real Business Cycle Models • The Rational Expectations Hypothesis (REH) • The Lucas Critique • The “Policy-Ineffectiveness Proposition” (PIP) • The Real Business Cycle (RBC) School2

Lecture 8: New Keynesian Models – Basics • Nominal Rigidities • Real Rigidities • The Workhorse 3-Equation Model

Lecture 9: New Keynesian Models – Monetary & Fiscal Policy • Taylor Principle and Determinacy • Monetary Policy • Fiscal Policy

Lecture 10: The Zero-Lower Bound on Nominal Interest Rates • Zero Lower Bound Economy • Monetary Policy • Fiscal Policy

Lecture 11: Alternative Approaches I: Expectations and Learning • Alternative Expectation Formation • Precautionary Saving • Learning Approaches

Lecture 12: Alternative Approaches II: Heterogeneous Agents • HANK Models • SFC-ABM Models

Lecture 13: Repetitorium

 

Übung

 25.10.2021: Technische Einführung • Differenzangleichungen 1. Ordnung • Steady state • Stabilität 

08.11.2021: Technische Einführung • Differenzangleichungen 2. Ordnung • Steady state • Stabilität 

22.11.2021: Solow-Swan Modell • Wiederholung Grundlagen • Wachstumsraten

06.12.2021: Solow-Swan Modell • Steady state • Ramsey-Modell: Grundlagen

03.01.2022: Ramsey-Modell: Anpassungsdynamik

17.01.2022: Endogenes Wachstum • länderspezifische Einkommensunterschiede • nachfragebeschränktes Wachstum

31.01.2022: