Advanced Macroeconomics 7,5 Credits

Course Contents

The course has the objective to provide the student with theories and methods for analysing macroeconomic growth and short-run macroeconomic fluctuations. The first part of the course is concerned with growth and focuses on questions such as why some economies are richer than others, and the determinants of the rise of real incomes over time. A range of models designed for this purpose as reviewed, such as the ones proposed by Solow, Ramsey, Diamond, as well as growth models where technological progress arises from research. The potential sources of the differences in average real incomes across countries are also explained. Since the behavior of consumption and investment is central to growth, their determinants are also examined in detail.

The second part of the course is concerned with the various theories and determinants of short-run macroeconomic fluctuations. Real-business-cycle theory models and Neo-Keynesian models of fluctuations, including Dynamic Stochastic General-Equilibrium models, are explained. The labor market, theories of unemployment, as well as topics on financial markets and financial crises are also reviewed. Finally, the second part of the course devotes time to macroeconomic policy. More specifically, it goes through theories and analysis of fiscal and monetary policies, where the term structure of interest rates plays a central role.

Connection to Research and Practice
Macroeconomic theories are presented in connection with empirical studies and real-world macroeconomics issues. The course is also related to research and practice as students write an assignment in the form of a literature review, which critically summarizes a group of key papers by other author(s) on the various topics covered in the course and that identifies avenues for applied research in macroeconomics.

Prerequisites

A Bachelor's degree equal to 180 credits (or the equivalent), including 60 credits in Economics, and a minimum of 15 credits in mathematics, statistics and/or econometrics (or the equivalent).

Level of Education: Master
Course code/Ladok code: JMAR23
The course is conducted at: Jönköping International Business School Last modified 2023-05-29 12:12:27