Introduction to the problems and methods of modern dynamic macroeconomics. Students shall be familiarized with the most important frameworks (Solow-model, Ramsey-model, Overlapping-Generations models, endogenous and semi-endogenous growth-models, Real-Business-Cycle models, New Keynesian models). The focus lies on the application of these models on pivotal questions in macroeconomics:

a) What are the determinants of long-run economic growth?
b) Which policy measures are suited to foster long run economic growth?
c) What explains the emergence of business-cycles?
d) What are the intertemporal transmission mechanisms of shocks?
e) How can economic policy influence/mitigate cycles?

1.) Stylized facts and data, historical overview, differences between growth theory and business-cycle theory.
2.) Kompact introduction to the methods of dynamic modeling.
3.) The Solow model as starting point of growth theory.
4.) The Ramsey model as central work-horse model of growth theory and business-cycle analysis.
5.) The overlapping generations model for the analysis of demographic changes.
6.) Fiscal Policy
7.)  Endogenous and semi-endogenous growth models and the determinants of long-run growth.

8.) The Real-Business-Cycle model and the transmission mechanisms of real shocks.

written and oral examination