Übung zu Advanced Macroeconomics

Dozent/in:

Stefan Dürmeier

Angaben:

Übung, 2 SWS

Termine:

Mi, 10:00 - 12:00, F21/02.41

Voraussetzungen / Organisatorisches:

Courses will be held in person as long as it is possible given the university’s guidelines, the same holds for the tutorials if the room capacities allow it.

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.