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Learning Objectives

LEARNING OUTCOMES: The aim of the course is to provide students with the tools they will need to understand and analyse economic growth, consumption and asset prices. The course will present the traditional models, derive testable implications, consider the empirical evidence and attempt to consider possible new approaches.

KNOWLEDGE AND UNDERSTANDING: Students should master the mathematical tools of dynamic optimization including dynamic programming. These technical skills will be needed for an understanding of the mechanisms driving economic growth, saving and investment in productive asset. These skills will be also used for the study of the business cycle in Macroeconomics II.
The course provides an introduction to modern macroeconomic modeling. Students will acquire knowledge of real business cycle models and monetary economies. They will learn essential numerical solution techniques, as well as how to assess models empirically. By the end of the course, students will have a solid understanding of central bank policies and will be able to analyze them independently with the help of macroeconomic models and data.