Advanced Macroeconomics I : Intertemporal Behavior and Business Cycles

lecon2121  2023-2024  Louvain-la-Neuve

Advanced Macroeconomics I : Intertemporal Behavior and Business Cycles
5.00 crédits
30.0 h + 6.0 h
Q1
Enseignants
Pensieroso Luca; Rannenberg Ansgar-Romero (supplée Pensieroso Luca);
Langue
d'enseignement
Anglais
Préalables
LECON2021 Fluctuations économiques et fondements de la politique macro (ou identique)
Thèmes abordés
The course covers the analysis important areas of macroeconomics through the lens of dynamic theoretical models which form the analytical core of the frameworks used in research and policymaking.
Acquis
d'apprentissage

A la fin de cette unité d’enseignement, l’étudiant est capable de :

1 At the end of this learning unit, the student is able to:
  • Understand some key economic mechanisms at work in general equilibrium models, and how the determine their predictions.
  • Derive the behavioral equations of the models covered in the course, and understand the fundamentals of some important model solution techniques.
  • Be able to perform some basic model simulations in Matlab.
 
Contenu
The broad areas covered are:
  • The neoclassical growth model
  • Real business cycle models
  • Money, nominal rigidities, demand determined output, the New Keynesian model
  • Some aspects of fiscal policy, e.g. non-ricardian households
Méthodes d'enseignement
Lectures + homeworks + tutorial classes
Bibliographie
David Romer (2019), Advanced Macroeconomics, 5th edition (but earlier editions are fine), McGraw-Hill.
Michael Wickens (2008), Macroeconomic Theory. A Dynamic General Equilibrium Approach, Princeton University Press.
Jordi Gali, Monetary Policy, Inflation, and the Business Cycle. An Introduction to the New Keynesian Framework. 
The models we are dealing with in the class can all be solved numerically and simulated using the (free) code package Dynare. You can download Dynare here: https://www.dynare.org/download/ . In case you have an apple computer, you need to download the MacOS version.
To run Dynare code you need to install the software Matlab.
Faculté ou entité
en charge


Programmes / formations proposant cette unité d'enseignement (UE)

Intitulé du programme
Sigle
Crédits
Prérequis
Acquis
d'apprentissage
Master [120] en sciences économiques, orientation économétrie

Master [120] en sciences économiques, orientation générale