Advanced Macroeconomics - JEM216

• Title: Advanced Macroeconomics
• Guaranteed by: Institute of Economic Studies (23-IES)
• Faculty: Faculty of Social Sciences
• Actual: from 2023
• Semester: winter
• E-Credits: 10
• Examination process: winter s.:
• Hours per week, examination: winter s.:2/4, Ex [HT]
• Capacity: 92 / 100 (150)
• Min. number of students: unlimited
• 4EU+: no
• Virtual mobility / capacity: no
• State of the course: taught
• Language: English
• Teaching methods: full-time
• Teaching methods: full-time
• Additional information: https://dl1.cuni.cz/enrol/index.php?id=15378
• Note: course can be enrolled in outside the study plan; enabled for web enrollment; priority enrollment if the course is part of the study plan
• Guarantor: prof. Roman Horváth, Ph.D.
• Teacher(s): PhDr. Jaromír Baxa, Ph.D.; prof. Roman Horváth, Ph.D.; Mgr. Ing. Eva Hromádková, Ph.D.; Mgr. Barbara Livorová; Mgr. Jan Pintera
• Class: Courses for incoming students
• Incompatibility : JEM004
• Is incompatible with: JEM004
• In complex pre-requisite: JEM111

Annotation

English

Last update: PhDr. Jaromír Baxa, Ph.D. (30.09.2022)

The aim of this course is to provide an introduction to the study of advanced topics in macroeconomics:
I. Economic growth (Week 1-2)
II. Micro-based modeling of long-term growth (Week 3-5)
III. Policy issues: Monetary policy and unemployment (Week 8-9)
IV. Micro-based modeling of short-term fluctuations (Week 10-12)
Mathematical models are broadly used throughout the course, with an emphasis both on their interpretation and on mastering mathematical methods necessary for development of these models. The language of the course is English. Moodle site: https://dl1.cuni.cz/course/view.php?id=14019.

Czech

Last update: PhDr. Jaromír Baxa, Ph.D. (30.09.2022)

The aim of this course is to provide introduction into the study of advanced topics in macroeconomics:
I. Economic growth (Week 1-2)
II. Micro-based modeling of long-term growth (Week 3-5)
III. Policy issues: Monetary policy and unemployment (Week 8-9)
IV. Micro-based modeling of short-term fluctuations (Week 10-12)
Mathematical models are broadly used throughout the course, with an emphasis both on their interpretation and on mastering mathematical methods necessary for development of these models. The language of the course is English. Moodle site: https://dl1.cuni.cz/course/view.php?id=14019.

Literature

Last update: PhDr. Jaromír Baxa, Ph.D. (08.11.2023)

Primary source: lecture notes posted in Moodle.

 

Main textbook:

Romer. D. (2019). Advanced Macroeconomics, 5th ed. McGraw-Hill/Irwin, Boston, ISBN: 978-1260185218 

 

Other supplementary textbooks/materials:

Wickens, M. (2014), Macroeconomic Theory, Princeton University Press. 

Barro, R.J, and Sala-i-Martin, X. (2003). Economic growth, 2nd ed. MIT Press, Cambridge. ISBN: 0262025531

Doepke, M.; Lehnert, A. and Sellgren, A.W. (1999). Macroeconomics. (mimeo) http://faculty.wcas.northwestern.edu/~mdo738/textbook/main.pdf

Durlauf, S.N.; Johnson, P.A. and Temple, J.R.W. (2005). Growth Econometrics (chap.8). Handbook of Economic Growth. Volume 1, part 1, pp. 555-677

Reference for Econometrics

Koop, G. (2008): Introduction to Econometrics. Wiley.

 

Reference for Mathematical Methods

Chiang, A. - Wainwright, K. (2005). Fundamental Methods of Mathematical Economics. McGraw Hill; 4th edition.

Vinogradov, V.(1999). Cook-book of Mathematics. CERGE-EI Lecture Notes, http://www.cerge-ei.cz/pdf/lecture_notes/LN01.pdf

Requirements to the exam

Last update: PhDr. Jaromír Baxa, Ph.D. (08.11.2023)

Grading

3 Assignments: each for 12 points maximum (together 36 points)

Midterm:    24 points maximum, no make-up possibility)

Final: 40 points maximum, 50% minimum threshold to pass the course)

Bonus points Bonus points can be awarded when students detect important issues in setups of the problem sets, codes or other materials provided by the instructors. The issues shall be preferably raised via moodle forum.  

Grading scale:

90.5-100 A

80.5-90.4 B

70.5-80.4 C

60.5-70.4 D

50.5-60.4 E

0-50.4 F

(The decimals indicate that standard rounding applies. If the number of points exceeds 100, truncation to 100 applies.)

Seminars: There are two distinct seminars for the course. Seminar 1 (S1a and S1b) focused on the macroeconometrics and Seminar 2 (S2a, S2b, S2c) on computational methods related to models from the lectures. Students are expected to attend one of the parallel classes of Seminar 1 and one of Seminar 2. Selection of Seminars in SIS is not binding, you may switch from one parallel session to another whenever you want to.

Syllabus

English

Last update: SCHNELLEROVA (29.08.2019)

Outline:

 1. Course introduction + Economic Growth - stylized facts and issues
 2. Determinants of long-term growth - Solow-Swan Model
 3. Micro-based modeling of long-term growth - Ramsey model I
 4. Micro-based modeling of long-term growth - Ramsey model II
 5. Determinants of long-term growth - AK models and endogenous growth models
 6. Micro-based modeling of short-term fluctuations - Real Business Cycle Models
 7. Micro-based modeling of short-term fluctuations - Real Business Cycle Models
 8. Policy issues: Inflation and Monetary Policy
 9. Policy issues: Unemployment
 10. Micro-based modeling of short-term fluctuations - Nominal rigidities (intro)
 11. Micro-based modeling of short-term fluctuations - Full model with rigidities
 12. New Keynesian DSGE models
 13. Summary and Consultation

Czech

Last update: prof. Roman Horváth, Ph.D. (14.11.2019)

Outline:

 1. Course introduction + Economic Growth - stylized facts and issues
 2. Determinants of long-term growth - Solow-Swan Model
 3. Micro-based modeling of long-term growth - Ramsey model I
 4. Micro-based modeling of long-term growth - Ramsey model II
 5. Determinants of long-term growth - AK models and endogenous growth models
 6. Micro-based modeling of short-term fluctuations - Real Business Cycle Models
 7. Micro-based modeling of short-term fluctuations - Real Business Cycle Models
 8. Policy issues: Inflation and Monetary Policy
 9. Policy issues: Unemployment
 10. Micro-based modeling of short-term fluctuations - Nominal rigidities (intro)
 11. Micro-based modeling of short-term fluctuations - Full model with rigidities
 12. New Keynesian DSGE models
 13. Summary and Consultation

Grading:

Assignments (three throughout the semester): each for 12 points maximum (together 36 points)

Midterm: 24 points maximum, no make-up possibility, min 3 points from each part (computation, empirics, theory)

Final: 40 points maximum, min 3 points from each part (computation, empirics, theory)

Total:100 points. Thresholds: A (100 - 87.0), B (86.9-75.0), C (74.9-60.0), F (<60)

Seminars: There are two distinct seminars for the course. Seminar 1 (S1a and S1b) focused on the macroeconometrics and Seminar 2 (S2a, S2b, S2c) on computational methods related to models from the lectures. Students are expected to attend one of the parallel classes of Seminar 1 and one of Seminar 2. Selection of Seminars in SIS is not binding, you may switch from one parallel session to another whenever you want to.