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| Semester | fall semester 2024 |
| Course frequency | Every fall sem. |
| Lecturers | Andreas Müller (andi.mueller@unibas.ch, Assessor) |
| Content | The first part of this colloquium takes place at the beginning of the semester with an introductory lecture. This lecture explains some of the recent long-run macroeconomic trends that challenge the empirical stylized facts underlying the “workhorse” neoclassical growth model. It will also outline this year's topics, selected from recent developments that have directed research as well as impacted the policy discussion. Topics include, but are not limited to the recent long-run trends: fall in the labor income share; productivity slowdown; fall in the risk free interest rate; rising importance of intangible capital; decline in hours worked; rising firm markups; misallocation of production factors across firms; and the changing pattern of deindustrialization. In the second part of the colloquium students present a critical review of selected papers that currently shape the academic research frontier in these areas. Each participant receives one article, which should be summarized and evaluated in a short paper (7-10 pages max). The paper has to be handed in one week before the presentation. Each paper receives a 45 min slot, which starts with a 30 minute presentation of the paper, followed by a 5-10 minute discussion by another student and a 5-10 minute general discussion. |
| Learning objectives | This course is research oriented. It gives students an insight into research on recent long-run macroeconomic trends. It highlights the implications of this research, but also gives students the opportunity to train their critical thinking. Open discussions will be an important part of this colloquium. |
| Bibliography | A detailed bibliography will be provided with the course syllabus. Here is a summary reading list: Labor income share: • Reading: Elsby, Hobijn, and Sahin (2013), Karabarbounis and Neiman (2014), Autor, Dorn, Katz, Patterson, and Van Reenen (2020), Kehrig and Vincent (2021). Intangible capital: • Reading: McGratten and Prescott (2010), Koh, Santaeulalia-llopis, and Zheng (2020). Productivity slowdown: • Reading: Gordon (2012), Byrne, Fernald, and Reinsdorf (2016), Bloom, Jones, Van Reenen, and Webb (2020), Philippon (2022). Risk free rate: • Reading: Rachel and Smith (2015), Farhi and Gourio (2018), Atif, Straub, and Sufi (2021), Reis (2022), Obstfeld (2023) Labor supply: • Reading: Boppart and Krusell (2020), Bick, Blandin, Rogerson (2022), Bick, Fuchs-Schuendeln, Lagakos, and Tsujiyama (2022), Kopytov et al. (2023). Rising markups: • Reading: Hall (2018), De Loecker, Eckout, and Unger (2020), Edmond, Midrigan, and Xu (2023). Misallocation: • Reading: Restuccia and Rogerson (2008), Hsieh and Klenow (2009), David and Venkateswaran (2019), Kehrig and Vincent (2019). Deindustralization: • Reading: Rodrik (2016), Fan, Peters and Zilibotti (2023), Huneeus and Rogerson (2023). |
| Comments | The colloquium consists of one introductory 2-hour lecture at the beginning of the semester and one or two (depending on the number of participants) full days of presentations in the second part of the semester. Students are also encouraged to attend the optional WWZ Crash course: Introduction to LaTeX at the beginning of the semester. |
| Admission requirements | No special requirements. |
| 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: Enrolment = Registration for the course and the exam! |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| unregelmässig | See individual dates | ||
| Date | Time | Room |
|---|---|---|
| Thursday 19.09.2024 | 16.15-18.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S16 HG.39 |
| Tuesday 19.11.2024 | 09.00-18.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S16 HG.39 |
| Tuesday 26.11.2024 | 09.00-18.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S16 HG.39 |
| Modules |
Core Module: Core Areas in Monetary Economics (Master's Studies: International and Monetary Economics) Module: Specific Electives in Economics (Master's Studies: Business and Economics) |
| Assessment format | record of achievement |
| Assessment details | Presentation (50%), Seminar paper (40%), Discussion (10%). |
| 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 |