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- Code:
- ECOM-R313/DPE-9313
- Field:
- Macroeconomics
- Targets:
- Research Master's students PhD students
- Organiser:
- University of Helsinki - Economics
- Instructor:
- Oskari Vähämaa
- Period:
- Period 2
- Format:
- Lecture
- Method:
- Contact teaching
- Venue:
- Economicum
- Enrollment:
In case of conflicting information consider the Sisu/Course/Moodle pages the primary source of information.
Aalto and Hanken economics students can enroll in their home university’s SISU! Further instructions can be found on the How to enroll page, also for other students.
Before taking and completing the course make sure that the credits can be counted towards your degree at your home university by checking which courses are included in your curriculum or by contacting your home university’s student/learning services.
Please note that there is a different code for UH PhD students: DPE-9313
Content
The course builds upon the models studied in the Advanced Macroeconomics 1 course, further introducing uncertainty, capital market incompleteness, firm dynamics and general equilibrium stochasticity. As another application of recursive and stochastic macroeconomic models, it introduces search theory for the analysis of labour market issues.
Learning outcomes
After the course, the student should
- Understand and be able to solve macroeconomic models with heterogeneous workers and firms (in particular, the concepts of idiosyncratic uncertainty, misallocation, borrowing constraint, and stationarity issues as covered in partial and general equilibrium setups)
- Understand the search theory applied to macroeconomic models of the labour market (in particular how search frictions can be used to rationalize the existence of unemployment and wage inequality).