This course provides an introduction to advanced macroeconomics at the undergraduate level, serving as a bridge between intermediate macroeconomics at the undergraduate level and graduate macroeconomics. The course begins with economic growth and then proceeds to business cycles. Knowledge of functions, derivatives, and constrained optimization, along with basic statistics is assumed.
The course introduces students to two modern theories of business cycles: Real Business Cycle theory and New Keynesian theory. A standard Real Business Cycle model will be formally stated and solved. Afterwards, a standard New Keynesian model will be formally stated and solved. Finally, we are going to use these two models for policy analysis. Students are supposed to learn how to state and solve modern business cycle models.
The seminar will delve into economic and legal aspects of virtual currencies. From a legal perspective, the focus will be on the regulations of the Markets in Crypto Assets Regulation (MiCA-VO) as well as on the framework conditions of Central Bank Digital Currencies. The presentation and the seminar paper can be in either German or English, depending on the participants' preference.