INTERMEDIATE MACROECONOMICS
経済学部 - 経済学科
EECS5027
コース情報
担当教員: SCHLEGL Matthias
単位数: 2
年度: 2024
学期: 秋学期
曜限: 水2
形式: 対面授業
レベル: 200
アクティブラーニング: なし
他学部履修: 可
評価方法
授業内期末試験
授業期間中
小テスト等
その他
Grading consists of the following components: (1) 3 assignments on Moodle (30%): Problem sets about lecture notes, textbook readings or additional materials. Assignments might also require students to work with the models of the lecture or to apply them to real-world economic data. (2) Presentation of a (20%): Group presentation about a current topic in macroeconomics and/or monetary policy. (3) Final exam (50%): The exam will take place during the last lecture.
詳細情報
概要
In this course, we develop a theoretical framework to understand the role of money and monetary policy in the economy. We derive a microfounded macro model that allows us to analyze the effects of monetary policy and to understand their theoretical foundation. In addition, we analyze the optimal response of monetary policy to different shocks and briefly talk about the new challenges faced by central banks in a low interest rate environment. There are no prerequisites for taking this course. Yet, students are advised to have successfully attended an introductory course in macroeconomics (IS-LM and AS-AD models) and to be familiar with basic calculus. All course materials will be distributed via the course page on Moodle. Assignments and additional readings will also be handled via Moodle. Please make sure that you subscribe to the course page on Moodle in order to participate in this course. Course registration and Moodle are not interlinked; and therefore, registration on Moodle must be done separately.
目標
1) Solid understanding of the conduct and effects of conventional monetary policy and the functioning of financial markets. 2) Ability to work with modern economic models, particularly with the New Keynesian framework. 3) At the end of this course, students should be able to independently apply these concepts and models to the analysis of current questions facing central banks and policymakers.
授業外の学習
Each week requires sufficient preparation and revision in self-study including textbook readings and additional readings that are assigned during lectures. Students are expected to do all required and assigned readings before the respective class to be able to contribute to class discussions. In addition, students need to submit weekly assignments covering these materials. Regular attendance and active participation in class are highly recommended. Also, you should actively follow news about recent developments in economics and finance.
所要時間: It depends on your work efficiency.
スケジュール
- Introduction to modern macroeconomics
- Mathematical background
- The RBC Model: Intertemporal optimization
- The RBC Model: General equilibrium in an endowment economy
- The RBC Model: The labor market
- The RBC Model: General equilibrium in a production economy
- The New Keynesian model: The role of price rigidities
- The New Keynesian model: Rational expectations and economic shocks
- Monetary policy: Optimal monetary policy
- Monetary policy: The inflation bias of discretionary policy
- Monetary policy: The role of credibility and commitment
- Monetary policy: Monetary policy rules
- Student presentations
- Final exam
教科書
The main textbook is Cao and Illing. Mishkin is a reference for beginners, Gali the standard reference for graduate students.
Money: Theory and Practice
著者: Jin Cao and Gerhard Illing
出版社: Springer, 2020
The Economics of Money, Banking and Financial Markets, 11th edition (global edition)
著者: Frederic Mishkin
出版社: Pearson, 2015
Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework and Its Applications
著者: Jordi Gali
出版社: Princeton University Press, 2008
参考書
A list of required and suggested readings will be distributed during the first lecture.