Advanced macroeconomics i
Master
In Maynard (USA)
Description
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Type
Master
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Location
Maynard (USA)
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Start date
Different dates available
14.461 is an advanced course in macroeconomics that seeks to bring students to the research frontier. The course is divided into two sections. The first half is taught by Prof. Iván Werning and covers topics such as how to formulate and solve optimal problems. Students will study fiscal and monetary policy, among other issues. The second half, taught by Prof. George-Marios Angeletos, covers recent work on multiple equilibria, global games, and informational fictions.
Facilities
Location
Start date
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Reviews
Subjects
- Global
- Macroeconomics
Course programme
Lectures: 2 sessions / week, 1.5 hours / session
Recitations: 1 session / week, 1.5 hours / session
The prerequisites for this course are 14.122 Microeconomic Theory II and 14.452 Economic Growth.
This is the first half of an advanced macroeconomics course aimed at second year PhD students. Prof. George-Marios Angeletos will cover the second half, which will be kept largely disjoint this year. On the methodological side, our agenda includes learning how to formulate and solve optimal policy problems. In terms of topics, we will study fiscal and monetary policy and, if time permits, touch on a few other issues.
Business cycles and financial crises hinge on shifts in expectations: booms are sustained by optimistic beliefs about future economic activity; credit crunches and financial crashes are associated with dramatic shifts in such beliefs. But what causes shifts in these kinds of beliefs? And how does this matter for policy? The second half of the course will seek to shed some light on these issues. To this goal, we will cover recent work on multiple equilibria, global games, and informational fictions.
The grade for the entire class will be determined by combining the average grade from:
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Advanced macroeconomics i