ECON 304 - Advanced Topics in Macroeconomics

1 unit(s)

This course is designed to get you familiar with Dynamic Stochastic General Equilibrium (DSGE) models, which are the workhorse of modern macroeconomic analysis. We learn how to set up, solve, and estimate DSGE models. The course focuses on the study of business cycles to illustrate how to solve and estimate DSGE models. This type of framework is useful to study the effect of monetary and fiscal policies on the macroeconomy, as well as their impact on the income and wealth distribution across individuals. The models we consider can also be adapted to study topics such as growth, trade, and development among many others. The techniques that we develop are broadly applicable; they can be used to solve and estimate models from other subfields of economics and even models from disciplines other than economics. These techniques rely on numerical methods (i.e., methods that require some coding), which means that the course is a great opportunity for you to develop some serious programming skills. Esteban Argudo.

Prerequisite(s): ECON 200, ECON 201, and ECON 203 or ECON 209; or permission of the instructor.

Two 75-minute periods.

Not offered in 2024/25.

Course Format: CLS