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| Semester | fall semester 2020 |
| Course frequency | Every fall sem. |
| Lecturers | Sarah Lein (sarah.lein@unibas.ch, Assessor) |
| Content | This course starts with a thorough introduction, both from an empirical and a theoretical perspective, into the basic New Keynesian macroeconomic model. This framework has emerged as the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations and welfare. We then use the model as a benchmark to discuss current empirical research in monetary macroeconomics. Each student summarizes one empirical research paper in the field of monetary macroeconomics that was presented during the Jackson Hole conference this summer. This conference is one of the most important international conferences for central bank govenours, finance ministers, academics, and financial market participants. Papers will be assigned during the course |
| Learning objectives | The main aim of this course is to describe a state-of-the-art macroeconomic general equilibrium framework and use it to analyze the conduct of monetary policy and to understand some of the major challenges currently faced by central banks around the world. |
| Bibliography | First 6 lectures (theoretical model): Gali, Jordi (2015), Monetary Policy, Inflation, and the Business Cycle. Princeton University Press. Chapters1-4. Second part of the class (empirical applications) will be based on various scientific articles provided in a reading list. |
| Comments | The first part of course will be online (uploaded videos), the second part taught on site in the classroom. If the number of participants exceeds the room capacity there will be an online live-stream simultaneously. |
| Weblink | Weblink |
| Course application | Registration: Please enrol in MOnA. EUCOR-Students and students of other Swiss Universities have to enrol at the students administration office (studseksupport1@unibas.ch) within the official enrolment period. Enrolment = Registration for the exam! |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Interval | Weekday | Time | Room |
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No dates available. Please contact the lecturer.
| Modules |
Core Module: Core Areas in Monetary Economics (Master's Studies: International and Monetary Economics) Specialization Module: Monetary Economics and Financial Markets (Master's Studies: Business and Economics) |
| Assessment format | end-of-semester examination |
| Assessment details | Notes for the Assessment: Take-home exam after part I of the course (50%), summary of a Jackson Hole research paper (50%). |
| Assessment registration/deregistration | Registration: 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 |