–
- Code:
- ECOM-410 (MSc) / DPE-9410 (PhD)
- Field:
- Macroeconomics
- Targets:
- Master’s students Research Master's students PhD students
- Organiser:
- University of Helsinki - Economics
- Instructor:
- Timm Prein
- Period:
- Period 1
- Format:
- Lecture
- Method:
- Contact teaching
- Venue:
- Economicum building
- Enrollment:
In case of conflicting information consider the Sisu/Courses/Moodle pages the primary source of information.
Content
The goal of the course is to provide an introduction to the methods of modern applied, quantitative macroeconomics. The course builds on existing dynamic stochastic (general) equilibrium models. The aim is to learn to solve numerically macroeconomic models for which closed-form solutions are not available. We will focus on both the basics of global solution algorithms and solution algorithms of linear rational expectation models. We will calibrate the model parameters and evaluate the quantitative performance of the models compared with empirical observations.
Students apply the learned methods, i.e. implementing and solving macroeconomic models, in a series of coding exercises. At the end of the course, the students submit a term paper and codes on a final project where they attempt a (partial) replication of a paper of their own choice from the literature. The project may include a calibration exercise, a policy experiment, or a computational exercise.
Teaching
- Schedule: can be found in Course Page and Sisu
- Study materials: can be found in Moodle
- For some courses, it is enough to register in Sisu and you can access directly the Moodle area, please note, however, that it may take up to two hours after registration to enter the Moodle area.
- Log in with your UH username to be able to use all the features of the course workspace
- More tips for enrolling in Moodle can be found here
University-specific instructions
Aalto University Students
- Code: no equivalent code
- Target groups: MSc / rMSc / PhD
- Credit points: 5
- Credit transfer: apply for inclusion in Sisu
Hanken Students
- Code: 26065
- Target groups: MSc / rMSc / PhD
- Credit points: 5
- Credit transfer: apply for substitution in Sisu
University of Helsinki Students
- Code: ECOM-410 (rMSc) / DPE-9410 (PhD)
- Target groups: MSc / rMSc / PhD
- Credit points: 5
- AGERE students: Before taking and completing this course make sure that the credits can be counted towards your degree by checking which courses are/can be included in your curriculum. You can also contact your planning officer Simo Riikonen (firstname.lastname@helsinki.fi).
FDPE Students Students
- Please contact your supervisor/program director to be sure that the course credit can be counted towards your degree
- Credit transfer: please apply for credit transfer according to your home university’s procedures
Learning outcomes
After the course, the student should:
- Understand the solution algorithms of linear rational expectation models
- Understand the basics of global solution algorithms
- Be able to understand common equilibrium concepts
- Be able to code the model with a matrix programming language
- Be able to calibrate the model