Summer Semester 2018

Monetary Theory and Policy (M.Sc. in Money and Finance)

This course introduces students to the dynamic stochastic general equilibrium (DSGE) models used in modern monetary macroeconomics called New Keynesian models. The basic model equations including nominal frictions such as price stickiness are derived carefully, and model solution techniques are discussed. Numerical solutions of the models are obtained and the models are simulated and analyzed using Dynare in MATLAB.

Numerical Methods in Macroeconomics: Estimation and Solution of DSGE Models (MSQ)

The course is based on techniques and applications and explores the example of frictional labor markets in macroeconomics using a variety of methodological tools. It is designed to develop and sharpen students’ prior knowledge dynamic macroeconomics and econometrics with a mixture of lectures on state-of-the-art solution and estimation techniques for macroeconomic models and application of the techniques to search theory with standard software packages and models from the literature.