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- Code:
- ECOM-R318/DPE-9318
- Field:
- Macroeconomics
- Targets:
- Research Master's students PhD students
- Organiser:
- University of Helsinki - Economics
- Instructor:
- Eero Mäkynen (University of Turku)
- Period:
- Period 4
- Format:
- Lecture
- Method:
- Hybrid teaching
- Venue:
- Economicum
- Enrollment:
In case of conflicting information consider the Sisu/Course/Moodle pages the primary source of information.
Aalto, Hanken and UH economics students can enroll through their home university’s SISU. Further instructions are available on the How to enroll? page, also for students from other universities.
If you would like to count the credits towards your degree, please check your curriculum or contact your supervisor or student services for guidance.
Lectures and exercises will be streamed for FDPE students (outside the capital region), but not for Helsinki GSE students (Aalto, Hanken and UH students). A link to the stream will be sent by Jenni Rytkönen in a separate email a few days before the course starts. If you don’t receive the link, please contact Jenni (jenni.rytkonen@aalto.fi).
Course Sisu and Course page to be published in July
- To access the Moodle course area, use all the features and participate in the activities (assignments, discussions), you must have successfully registered for the course in Sisu and logged in with your UH user ID.
- For more information on how to activate your UH user ID and register for a Moodle course area, click here.
Content
This course introduces and applies dynamic heterogeneous agent models to study policy questions related to taxation, social insurance, and pension systems. The models considered include the neoclassical growth model with wealth and labour income heterogeneity as well as life cycle and overlapping generations models of labour supply and savings with uninsurable income risks. For each model, we also discuss issues related to numerical methods and calibration.
Learning outcomes
After the course, the student should
- be able to apply dynamic programming to solve stochastic dynamic optimization problems numerically
- be able to incorporate realistic tax and transfer schemes such as unemployment insurance and pension systems into basic models of household savings and labour supply
- be familiar with issues related to the calibration of heterogenous agent models
- understand how to use heterogenous agent models to assess the distributional welfare effects of specific policy reforms