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| Semester | fall semester 2023 |
| Course frequency | Every fall sem. |
| Lecturers | Andreas Freitag (andreas.freitag@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 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 |
|---|---|---|---|
| wöchentlich | Tuesday | 14.15-16.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S14 HG.32 |
| 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: Fundamentals in Finance and Money (Master's Studies: Finance and Money) 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) |
| Assessment format | main lecture exam |
| Assessment details | Notes for the Assessment: Take-home exam after part I of the course (50%), presentation of a Jackson Hole research paper (50%). |
| Assessment registration/deregistration | Reg.: course registration, dereg: cancel course registration |
| Repeat examination | one repetition, best attempt counts |
| Scale | 1-6 0,1 |
| Repeated registration | one repetition |
| Responsible faculty | Faculty of Business and Economics , studiendekanat-wwz@unibas.ch |
| Offered by | Faculty of Business and Economics |