This information sheet indicates how the course will be organized at pandemic code level yellow and green.
If the colour codes change during the academic year to orange or red, modifications are possible, for example to the teaching and evaluation methods.


Course Code :2129TEWECP
Study domain:Economic Sciences
Academic year:2020-2021
Semester:1st semester
Contact hours:60
Study load (hours):168
Contract restrictions: Exam contract not possible
Language of instruction:English
Exam period:exam in the 1st semester
Lecturer(s)Roland Winkler

3. Course contents *

This course introduces students to dynamic general equilibrium macroeconomics, the heart of which is the rational decision-making of representative microeconomic units—consumers and firms. We will investigate how these choices interact to yield economy-wide outcomes. The emphasis will be on building, analyzing, solving, and interpreting quantitative dynamic models to understand macroeconomic data. Topics include long-run economic growth, short-run economic fluctuations, fiscal policy, asset pricing, and open economy macroeconomics. 

Course content:

  • Macroeconomic data: trend vs. cycle
  • Microeconomics of macroeconomics
    • A dynamic consumption-saving model
    • Production, investment, labor demand, and labor supply
  • The economy in the long run: economic growth
    • The basic facts about economic growth
    • Exogenous economic growth: the Ramsey–Cass–Koopmans model
    • Endogenous economic growth
  • The economy in the short run: business cycles
    • Business-cycle facts around the world
    • The real business cycle model
    • Fiscal policy
    • Asset pricing