The first part of the course will deal focus on dynamic macroeconomics based on general equilibrium theory with added emphasis on neoclassical growth models and dynamic programming, models with uncertainty, overlapping generation models, real business cycle theory, and Keynesian monetary policy models. For each topic, we will also learn problem solving and numerical techniques and apply them in the particular topic in discussion.
The purpose of lectures is to provide a logical structure for the topics that make up the course, to emphasize the important concepts and methods of each topic, and to provide relevant examples to which the concepts and methods are applied. As not all topics will be presented extensively, students should refer to the textbook for further details and be sure to attempt the tutorial exercises.
Overall Learning Outcomes
1. Explain the assumptions and structure of standard models in macroeconomics
2. Analyze and manipulate these models
3. Apply the models to interpret and analyze problems in macroeconomics