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| Semester | spring semester 2023 |
| Course frequency | Every spring sem. |
| Lecturers | Sarah Lein (sarah.lein@unibas.ch, Assessor) |
| Content | The course "Advanced Macroeconomics" focuses on modern theories of macroeconomic fluctuations. 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, the course will develop the real business cycle (RBC) model, in which fluctuations are the result of random shocks to technology and economic outcomes are efficient. It then introduces a set of realistic features into the framework, namely monopolistic competition, and nominal rigidities (new Keynesian Models, NKM). In this model, economic policy plays a role and can improve economic outcomes. We will include a set of exercise sessions that familiarized the students with applications of these models to study, for example, the responses of an economy to policy shocks or productivity shocks. In addition, we will introduce theories of consumption and study the role of monetary and fiscal policy. |
| 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 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 | Monday | 14.15-18.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31 |
| Modules |
Basic Module: Advanced Topics in Economics (Master's Studies: International and Monetary Economics) Modul: Core Courses in Economics (Master's Studies: Business and Economics) Modul: Methoden der Wirtschaftswissenschaften (Master's Studies: European Global Studies) Modul: Specific Electives in Economics (Master's Studies: Business and 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: 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 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 exam: 14.06.23; 16:15-17:45. WWS S13: A-N; WWZ Audi: P-Z. The addresses of the examination rooms can be found here: https://wwz.unibas.ch/de/studium/pruefungen/vorlesungs-und-pruefungsraeume/ You can still withdraw from the examination by submitting a completed, signed form to our office from 21.03.23 until 31.03.23 / 12:00 o’clock. The deregistration form and the mail address can be found on the homepage of the Dean of Studies Office: https://wwz.unibas.ch/en/studies/examinations/de-/registration-of-examinations/ Prior to 20.03.23, please deregister only in the Online Services. The examination rooms will be published by 26.5.23. |
| 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 |