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105.687 AKVWL Dynamic Macroeconomic Modelling
This course is in all assigned curricula part of the STEOP.
This course is in at least 1 assigned curriculum part of the STEOP.

2022S, VU, 2.0h, 3.0EC
TUWEL

Properties

  • Semester hours: 2.0
  • Credits: 3.0
  • Type: VU Lecture and Exercise
  • Format: Presence

Learning outcomes

After successful completion of the course, students are able to...

  • numerically solve a wide range of determistic and stochastic macroeconomic models (DSGE),
  • calibrate a model to empirical data,
  • quantify the effects of economic shocks and policies and interpret them economically,
  • write a master thesis in the field of macroeconomics.

Subject of course

Part I: The deterministic neoclassical growth model

  • Model description and definition of equilibrium
  • Characterizing the for the optimal time paths
  • Dynamic properties of the optimal time paths: steady state and stability
  • Computational implementation: calibration and numerical solution
  • Project: An epidemic in the deterministic neoclassical growth model (Macro-SIR-model)

Part II: The stochastic neoclassical growth model

  • Model description and solution using dynamic programming
  • Approximation of the optimal policy functions by linearization
  • Computation implementation: solving DSGE models with Dynare
  • Project: Policy analysis in a DSGE model using Dynare

Teaching methods

  • Presentation combined with interactive work in Matlab
  • Short videos on TUWEL
  • Voluntary self-assessment tasks
  • Introduction to Dynare, a software platform for handling a wide class of economic models
  • Presentation of sample solutions for the projects

Mode of examination

Immanent

Additional information

The course is split into two parts. Each part consists of several classroom sessions followed by a project phase. The classroom sessions take place at university. Please note that due to the COVID situation the format of the course may change to online mode!

Due to time limitations, there is no introductory meeting this year. A recording with the information usually given there is provided in this video.
On March 7, we will already start with the discussion of the deterministic neoclassical growth model!

The syllabus and further time schedule can be found at http://www.mkerndler.com/downloads/dynmod_syllabus_ss2022.pdf.

 


Lecturers

Institute

Course dates

DayTimeDateLocationDescription
Mon12:00 - 14:0007.03.2022 - 27.06.2022Sem.R. DB gelb 04 Classroom sessions
AKVWL Dynamic Macroeconomic Modelling - Single appointments
DayDateTimeLocationDescription
Mon07.03.202212:00 - 14:00Sem.R. DB gelb 04 Classroom sessions
Mon14.03.202212:00 - 14:00Sem.R. DB gelb 04 Classroom sessions
Mon21.03.202212:00 - 14:00Sem.R. DB gelb 04 Classroom sessions
Mon28.03.202212:00 - 14:00Sem.R. DB gelb 04 Classroom sessions
Mon04.04.202212:00 - 14:00Sem.R. DB gelb 04 Classroom sessions
Mon25.04.202212:00 - 14:00Sem.R. DB gelb 04 Classroom sessions
Mon02.05.202212:00 - 14:00Sem.R. DB gelb 04 Classroom sessions
Mon09.05.202212:00 - 14:00Sem.R. DB gelb 04 Classroom sessions
Mon16.05.202212:00 - 14:00Sem.R. DB gelb 04 Classroom sessions
Mon23.05.202212:00 - 14:00Sem.R. DB gelb 04 Classroom sessions
Mon30.05.202212:00 - 14:00Sem.R. DB gelb 04 Classroom sessions
Mon13.06.202212:00 - 14:00Sem.R. DB gelb 04 Classroom sessions
Mon20.06.202212:00 - 14:00Sem.R. DB gelb 04 Classroom sessions
Mon27.06.202212:00 - 14:00Sem.R. DB gelb 04 Classroom sessions

Examination modalities

The grade is based on two projects, which have to be worked out in groups of one or two students during the semester.

Course registration

Begin End Deregistration end
20.01.2022 14:00 14.03.2022 14:00 24.04.2022 20:00

Curricula

Literature

No lecture notes are available.

Previous knowledge

Prior knowledge of dynamic economic models (in particular the Ramsey growth model) is advantageous but not necessary. The computational implementation of the projects should be done in MATLAB. Students who have never worked with MATLAB before or have not used it for a while, are expected to go though an introductory guide before (a reference is provided in the detailed syllabus on the TUWEL site of this course).

Miscellaneous

Language

English