Macroeconomics I

Guest Instructor: 
Time I: 
08:30am to 12:00pm
Venue I: 
DIW, Mohrenstr. 58, Dulles or Schumpeter

The objective of this lecture is to enable M.A. and Ph.D. students to
use macroeconomic concepts for their own research. This leads to a higher
level of formalization in this lecture than in the introductory lecture

Contents (Prof. Watzka): Methods of modern macroeconomics for researchers
in the field. Stationary Markov environments, state-space methods,
stochastic difference equations. Dynamic programming and Lagrangian
methods, Complete markets, Dynamic stochastic general equilibrium models,
Solution techniques. Empirical consequences of macroeconomic shocks;
structural estimation, the Ramsey problem.

Contents (Prof. Weinke): This course develops dynamic stochastic general
equilibrium (DSGE) models and uses them for positive and normative
macroeconomic analysis. To this end a number of theoretical and empirical
concepts are presented. Examples include the computation of impulse
response functions, structural vector autoregressions, as well as an
introduction to structural estimation. On the normative side the concept
of Ramsey optimal policy is presented.

Location of the lecture: DIW, Mohrenstr. 58:
Oct 15, 2014 08:30-12:00 Dulles
Oct 22, 2014 08:30-12:00 Schumpeter
Oct 29, 2014 08:30-10:30 Schumpeter, 10:30-12:00 Dulles
Nov 05, 2014 08:30-12:00 Schumpeter
Nov 12, 2014 08:30-12:00 Schumpeter
Nov 19, 2014 08:30-12:00 Schumpeter
Nov 26, 2014 08:30-10:30 Schumpeter, 10:30-12:00 Dulles
Dec 03, 2014 08:30-12:00 Schumpeter
Dec 10, 2014 08:30-10:30 Schumpeter, 10:30-12:00 Dulles
Dec 17, 2014 08:30-10:30 Schumpeter, 10:30-12:00 Dulles
Jan 07, 2015 08:30-12:00 Schumpeter
Jan 14, 2015 08:30-12:00 Schumpeter
Jan 21, 2015 08:30-12:00 Schumpeter
Jan 28, 2015 08:30-12:00 Schumpeter
Feb 04, 2015 08:30-12:00 Schumpeter
Feb 11, 2015 08:30-12:00 Schumpeter
Feb 18, 2015 08:30-12:00 Schumpeter
Feb 25, 2015 08:30-12:00 Schumpeter

Reference list (Prof. Watzka): Ljungqvist and Sargent, Recursive
Macroeconomics, 2nd edition (Cambridge, USA: 2004); selected journal

Reference list (Prof. Weinke): We will use selected articles, e.g., Galí,
Jordi and Pau Rabanal (2004), Technology Shocks and Aggregate
Fluctuations: How Well Does the RBC Model Fit Postwar U.S. Data?, in:
NBER Macroeconomics Annual, and Schmitt-Grohé, Stephanie and Martín Uribe
(2012): „An OLS Approach to Computing Ramsey Equilibria in Medium-Scale
Macroeconomic Models“, Economics Letters, 115, April 2012, 128-129.

Any further documents needed for the lecture will be available on moodle.

Exam: written (90 min)

Fall 2014
Humboldt-Universität zu Berlin