Angewandte VWL: Monetary Policy in the Euro Area

Dozent/in:

Juan Carlos Peña

Angaben:

Vorlesung, 2 SWS, Please register in FlexNow as well as in VC before the start of the summer term. Later the VC will be password-protected.

Termine:

Di, 12:00 - 14:00, Online-Webinar
Introductory meeting: Tuesday April 20, 2021 at 12.00h.

Inhalt:

Learning Outcomes: The main objective of this course is to extend the students’ knowledge of monetary theory and how monetary policy is conducted in the euro area. Content: After a brief discussion of the history of the European Economic and Monetary Union (EMU) and the structure and objectives of the Eurosystem the money creation process in a monetary economy is discussed in detail. The main transmission channels of monetary policy in closed and open economies, as well as the main monetary policy strategies and the rules vs. discretion debate are then addressed. How the ECB implements its monetary policy in the financial markets in normal as well as in crisis times is discussed as next. Finally, the one-size-fits-all problem of the European Central Bank, as well as the conduct of macroprudential policy in the euro area are also treated.

Übung zu Advanced Macroeconomics

Dozent/in:

Juan Carlos Peña

Angaben:

Übung, 2 SWS

Termine:

Fr, 10:00 - 12:00, Online-Meeting
Introductory meeting: Friday April 23, 2021 at 12.00h.

Inhalt:

Macroeconomic analysis is primarily concerned with two issues: (i) developing positive models in order to understand the dynamics of key macroeconomic variables such as output, employment, unemployment, inflation, interest rates, etc.; and (ii) deriving normative prescriptions for macroeconomic policymaking, in particular regarding the proper setting of fiscal and monetary policies. The course begins with a discussion of empirical facts regarding business cycles and growth to be explained by macroeconomic models and then provides an example of the role of economic policy as a macroeconomic stabilization mechanism based on a traditional reduced-form model of the macro-economy. The second part of the course deals in more detail with several building blocks for macroeconomic models based on intertemporal optimization along the neoclassical tradition. The third part of the course focuses in contrast on the caveats of this theoretical framework, as well as on the alternative modeling approaches.

V/Ü: Angewandte VWL: Introduction to Python Programming for Social Sciences

Dozent/in:

Juan Carlos Peña

Angaben:

Vorlesung, 2 SWS, Please register in FlexNow as well as in VC before the start of the summer term. Later the VC will be password-protected.

Termine:

The course will be a block seminar on the following dates: 5.04.2021 from 10:00 to 16:00; 6.04.2021 from 10:00 to 16:00; 12.04.2021 from 10:00 to 16:00; 13.04.2021 from 10:00 to 16:00 h.

Inhalt:

The course aims to make students familiar with the Python programming language commonly used in economic and social research. For this course, no previous knowledge of programming is required. However, students should be familiar with basic algebra and statistical concepts. In the first few sessions the programming syntax and basic building blocks are introduced. Then, after students have obtained some programming skills, different modeling tools and techniques useful for empirical work will be discussed.