Applied Macroeconometrics 1 (5 cr)

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-9411

Content

The course provides an introduction to the methods of modern applied macroeconometrics. The different approaches currently employed in applied work are reviewed, including the basics of empirical dynamic stochastic general equilibrium (DSGE) models, but the main emphasis is on the vector autoregressive model and its application in economics. In particular, we concentrate on the identification of economic shocks by various methods and the use of the structural vector autoregressive framework in policy analysis. Applications in other fields besides macroeconomics may also be discussed. The emphasis is on the practical application of the methods.

Learning outcomes

After the course, the student should

Be familiar with the main approaches to modelling macroeconomic data
Know the basic properties of the linear vector autoregressive (VAR) model
Understand the concept of the identification of economic shocks in structural VAR models, and be able to conduct structural analysis using short-run and long-run identification restrictions as well as methods of statistical identification in the VAR model
Be able to apply methods of classical statistical inference in reduced-form and structural VAR models
Be able to report empirical research results obtained using the methods covered

Content #

Learning outcomes #

Content

Learning outcomes