Macroeconomics II

Time I: 
08:30am to 12:00pm
Venue I: 
TU Berlin, Main Building, room H 0112
Venue II: 
DIW, Mohrenstr. 58, Schumpeter hall

The first part (Heinemann) analyzes how future expected money supply affects the current price level, why money can be written in the utility function and what is required to determine a unique equilibrium with rational expectations. Turning to the foundations of New Keynesian Macroeconomics, we analyze why monopolistic competition leads to an active role for monetary policy, derive the forward looking Phillips curve and study optimal monetary policy.


Part 1
Blanchard, Olivier J.; Stanley Fischer, Lectures on Macroeconomic, MIT Press, 1989.
Walsh, Carl E., Monetary Theory and Policy, 2nd edition, MIT-Press, 2003.
Woodford, Michael, Interest and Prices: Foundations of a Theory of Monetary Policy, Princeton University Press, 2003.

Exam: written midterm and final exam

See also the information on the website for this course. Part 1:

Spring 2014
Humboldt-Universität zu Berlin
Technische Universität Berlin
End date of the whole course: 
Wednesday, July 16, 2014 (All day)