20285 - ADVANCED MACROECONOMICS

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28 Οκτ 2013 (πριν από 3 χρόνια και 11 μήνες)

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1

20285

-

ADVANCED MACROECONOMICS

Fall
2012


Luca Sala
-

Francesco Giavazzi


luca.sala@unibocconi.it

(Course Director)

francesco.giavazzi@unibocconi.it


T.A./
Tutor
:

Alessandro Di Nola

alessandro.dinola@phd.unibocconi.it


Textbook
s
:

The
textbook
for the course
is:

-

D
.

N. Dejong and C
.

Dave,
St
r
uctural Macroeconom
e
trics
.
Second Edition,
Prin
c
eton
University

Press (2011
)
. I will tell you more about textbooks in class.

-

additional material w
ill be suggested

during the course and posted on the course website


At times you may find
it
to useful to look at
:

-


G. McCandless,
The Abc of Rbc
,
Harvard Uni
versity Press

(2008)

-


B.
Heer,
A.
Mausner,
Dynamic general Equilibrium Modelling
,
Springer (2005)

-


F. Canova,
Methods for Applied Macroeconomic Research
, Princeton Press (2007)


Course O
bjectives

The course
introduces students to
the techniques of
modern macroeconomics
analysis
.



Other arrangements



The

course consists
of 17

two
-
hour
lectures and
6

exercise classes
.

Students are required to attend
all classes

and lectures and

turn in 6 problem sets. (
Group work is allowed for problem sets. Each
grou
p should have no more than 3 students.
)




There will be a mid
-
term exam on October

22
th
, 201
2

at

11.00

a.m.




The
final
exam
s

will
be
held
either

-

on

January
16
th
, 2013
,

at 11.00 a.m.

-

or

January
30
th
, 2013,
at 11.0
0 am
;
September
4
th
, 2013

at 11.0
0 am.




Up
unt
i
l the exam of

September
4
th

2013

included
, final gra
des will be based on
:

-

30% for

problem sets;

-

70
%
for

the
exam (the two mid
-
terms will count e
a
ch 35%)
;



Both mid
-
terms must be passed with a grade higher or equal to 18. I
f you fail
at least
one

of them,
you have to take the general.



Students can choose to take the final either on January
16
th

or

January
30
th
, 20
13
.
T
hose students

who have failed the mid
-
term exam, will have a make
-
up option with additional questions during
the final exam.



T
hose students who do not pass the exam in either January or February, will have a make
-
up
option on September
4
th

201
3
.




There is the possibility of earning three more
University
credits from this course (as an
“approfondimento”). To do so, you have to han
d in all 6 problem sets. The grade in the
“approfondimento” will be given

by a weighted

average
of the
grade
s

in the problem sets

(each of
the first four PS will have a weight of .15. Each of the last two PS will have a weight of .2 each)
.
The “approfondim
ento” will be valid
if and only if you pass the exam
.

The
3

extra
credits will be

2

available to students who pass the exam no later than
the
September 4
th

2013

exam date
.


When you receive your final PS Grade you can contact the course secretary Patrizia
Pellizzari to
formalize the Grade (you will be asked to sign your request to add 3 credits to your final grades).
You will also have to change your Final Study Plan with the Registrar’s Office, i.e. add 3 credits
through the ‘One
-
Stop Service Centre’ (Spor
tello Unico) in Piazza Sraffa 11.


Schedule

(
Lecture
classes

are on Tuesday

and Thursday

from 4:15 to 5:45 pm
.
The few exceptions and variations will be
announced on the Agenda
)



September
1
3



October 2
0


1)

Introduction
: the Kydland and Prescott revolution

2)

Solving D
ynamic
S
tochastic
G
eneral
E
quilibrium (DSGE)

Models

3)

Preparing the data for empirical analysis: filtering


intro to the frequency domain

4)

Summarizing time series b
ehaviour

5)

Estimation: c
alibration

6)

Estimation: the Kalman f
ilter and
the likelihood fu
nction.


October

2
2
th

2012
,
11.00 am



Mid
-
Term Exam



November


December
2012

Topics for the second part of the course will be distributed later. They include

-

calibration and remaining DSGE
topics not covered before the mi
d
-
term

-

macro models
incorporating an explicit financial sector


Exercise Classes


Exercise
class

Date


Time

Place

1

TBA

TBA

TBA

2

TBA

TBA

TBA

3

TBA

TBA

TBA

4

TBA

TBA

TBA

5

TBA

TBA

TBA

6

TBA

TBA

TBA


References

for the exercise c
lasses
:

Instructor’s teaching notes.

There will be
6

exercise

classes and 6

problem sets,

each
to be handed in to
the T.A. ONLY
. In case
the solution is contained in a computer file, then it can be handed in via e
-
mail; no hard copy is
necessary
.


Group work for the problem sets is not only a
llowed, but advised.


Office Hours:

LS
: Monday, 2 to 4 pm, Roentgen building 5
th

floor, room D1
-
03.


FG:

by appointment with
patrizia.pellizzari@unibocconi.it

or ask me at the end of class.

A
D:

For an a
ppointment
write to
alessandro.dinola@phd.unibocconi.it

or ask me at the end of class.


Roentgen building 5
th

floor, room D2
-
05.