MONETARY ECONOMICSⅡ

概要

In this seminar, students are introduced to modern macroeconomic models in continuous time in order to analyze real-world economic phenomena, such as persistent economic stagnation, inequality or asset price dynamics. In the first half of the course, we will study general methods for solving dynamic optimization problems in continuous time and systems of differential equations, using the Solow growth model and the neoclassical growth model as examples. This is followed by a mid-term review. Important: Students who have already participated in "Monetary Economics I" should be familiar with these methods and will therefore be assigned additional readings instead. In the second half of the course, we will discuss research papers that apply these methods. The topics/papers will be selected according to student interests. Students are expected to read all papers on the reading list, which is distributed in the first session, and actively participate in class discussion. All course materials will be distributed via the course page on Moodle. Parts of grading will also be handled via Moodle. Please make sure that you subscribe to the website 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) Understanding of analytical and computational methods to solve macroeconomic models in continuous time. 2) Understanding applications of the aforementioned methods to analyzing real-world phenomenon. 3) Ability to read and analyze published research papers and develop and articulate own research ideas. Fostering of writing and presentation skills.

授業外の学習

Our discussion in class will be based on a list of required readings, which will be distributed in the first week of the semester. Students will be given short assignments on these readings in advance of each class in order to actively contribute to the discussion. Each week, one student will be assigned to prepare a few slides on the readings in order to guide the discussion in class. In addition, each student will write a paper report on an assigned research paper and give a presentation of this report towards the end of the semester.

所要時間: Around 200 min, depending on your work efficiency.