Advanced Macroeconomics

Key Info

Basic Information

Studypath:
Master in Management, Business and Economics
Semester:
2
Course Type:
Lecture
Language:
English
Cycle:
Summer term
Scheduling:
Entire semester
Course Units:
4.0
Credits:
5.0
Compulsory Attendance:
No

Lecturer

  • Dr.oec. Karin Knottenbauer

The following details taken from the examination regulations MSWIWI/14, SMPO 2. Änderungsordnung (zum WS 17/18) are for information purposes only and not legally binding. For legally binding information, please refer to the corresponding official examination regulations of the program Master in Management, Business and Economics.

Syllabus

We start with an introduction into the formal treatment of the consumption decision of households and the investment decision of firms. Then general equilibrium is introduced and the neoclassical growth model in its infinite-horizon and overlapping-generation versions analyzed. Next, the neoclassical growth model is applied to business cycle theory both in the real business cycle and the Neokeynesian variety. Monetary and fiscal policy are discussed in these dynamic settings. The modern treatment of unemployment in macroeconomics will be expounded.

Objectives

This class is a first introduction into the modern, mathematical treatment of macroeconomics. It functions as a bridge towards the fully dynamic and quantitative approach that is now the hallmark of modern macroeconomics. The role of risk in economic decision making and its implications for macroeconomic dynamics in particular are discussed.

Prerequisites

None in terms economic knowledge. It is, however, required that students have the willingness and ability to follow formal and mathematical arguments.

Examination

Depending on the number of students successful examination (100%, graded, 60-75min.) or oral examination (100%, graded, 20-30min.)

Further Information

No information available in English at the moment.

Literature

No information available in English at the moment.