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| Semester | fall semester 2021 |
| 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 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. It reflects current issues relevant for central banks. The papers are usually written in a way that makes them easily digestable for policy makers, thus are not extremely technical. 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 (Jackson Hole Conference papers) will be provided in a reading list. |
| 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 |
|---|---|---|---|
| wöchentlich | Thursday | 14.15-18.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S14 HG.32 |
| Comments | The course is planned as a mix of in-class course and on-demand lectures. If necessary, the on-site classes will be in hybrid form, i.e. with a simultaneous livestream or as an online presence course. |
| Date | Time | Room |
|---|---|---|
| Thursday 23.09.2021 | 16.15-18.00 | - Online Präsenz -, -- |
| Thursday 14.10.2021 | 16.15-18.00 | - Online Präsenz -, -- |
| Thursday 04.11.2021 | 16.15-18.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S14 HG.32 |
| Thursday 11.11.2021 | 16.15-18.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S14 HG.32 |
| Thursday 18.11.2021 | 16.15-18.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S14 HG.32 |
| Thursday 25.11.2021 | 16.15-18.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S13 HG.35 |
| Thursday 02.12.2021 | 16.15-18.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S14 HG.32 |
| Thursday 09.12.2021 | 16.15-18.00 | - Online Präsenz -, -- |
| Modules |
Core Module: Core Areas in Monetary Economics (Master's Studies: International and Monetary Economics) Module: Core Courses in Monetary Economics and Financial Markets (Master's Studies: Business and Economics) 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 Monetary Economics and Financial Markets (Master's Studies: Business and Economics) Specialization Module: Monetary Economics and Financial Markets (Master's Studies: Business and Economics (Start of studies before 01.08.2021)) |
| Assessment format | record of achievement |
| 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 | 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 |