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65943-01 - Lecture: Advanced Macroeconomics (6 CP)
| Semester | spring semester 2026 |
| Course frequency | Every spring sem. |
| Lecturers | Sebastian Link (sebastian.link@unibas.ch, Assessor) |
| Content | The course "Advanced Macroeconomics" focuses on modern theories of macroeconomics. It is built explicitly on microeconomic foundations, by considering the decision making process of the microeconomic agents, namely firms and households. These microeconomic units are then aggregated to study their interactions and macroeconomic outcomes. After a preliminary introduction to the Solow model in continuous time, which focuses mainly on long-term growth and production, we will develop a simple Ramsey model that also considers household consumption/saving decisions. To delve into business cycle dynamics and transition to short-run macroeconomics, we will then explore the so-called RBC model. In this model, we introduce stochastic elements, where agents face uncertainty about the future. We will also scrutinize two crucial components of aggregate demand in these "real" models, namely consumption and investment. In the last lecture block, we will introduce nominal rigidities, i.e., sticky prices, into the RBC model and allow for imperfect competition to finally develop the Dynamic New Keynesian Model, a Dynamic Stochastic General Equilibrium Model (DSGE). This workhorse model of modern macroeconomics will enable us to examine, for example, the effects of monetary policy. This course aims to equip students with an initial toolbox for modern macroeconomic analysis. Throughout the course, there will be exercise sessions designed to familiarize students with the practical applications of these models. Lecturers: Sebastian Link, Tutorials: Sophie Bürgin. |
| Learning objectives | This course provides students with the technical toolbox to study modern macroeconomic models and to conduct simple policy evaluations. |
| Bibliography | Textbook D. Romer, Advanced Macroeconomics, 5th edition. Additional literature will be announced in class (syllabus). |
| Admission requirements | While there are no formal prerequisites, it is strongly recommended that students take 18545-01 Advanced Mathematics for Economists before the course. |
| Course application | Registration: Please enroll in the Online Services (services.unibas.ch); Eucor-Students and mobility students of other Swiss Universities or the FHNW first have to register at the University of Basel BEFORE the start of the course and receive their login data by post (e-mail address of the University of Basel). Processing time up to a week! Detailed information can be found here: https://www.unibas.ch/de/Studium/Mobilitaet.html After successful registration you can enroll for the course in the Online Services (services.unibas.ch). Applies to everyone: Enrollment = Registration for the course and the exam! |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| wöchentlich | Monday | 14.15-18.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31 |
Dates
| Modules |
Basic Module: Advanced Topics in Economics (Master's Studies: International and Monetary Economics) Module: Core Competences in Economics (Master's Studies: Sustainable Development) Module: Core Courses in Business and Economics (Master's Studies: Business and Economics) Module: Core Courses in Economics (Master's Studies: Business and Economics) Module: Economic Approaches (Master's Studies: European Global Studies) Module: Field Electives in Economics and Public Policy (Master's Studies: Economics and Public Policy) Module: Specific Electives in Business and Economics (Master's Studies: Business and Economics) Module: Specific Electives in Economics (Master's Studies: Business and Economics) Module: Specific Electives in International Business, Trade and the Environment (Master's Studies: Business and Economics) |
| Assessment format | record of achievement |
| Assessment details | Final exam (85%) and midterm quiz (15%). Final examination: Date tbd |
| Assessment registration/deregistration | Reg.: course registration, dereg: cancel course registration |
| Repeat examination | no repeat examination |
| Scale | 1-6 0,1 |
| Repeated registration | as often as necessary |
| Responsible faculty | Faculty of Business and Economics , studiendekanat-wwz@unibas.ch |
| Offered by | Faculty of Business and Economics |