This half semester course aims to introduce students to the basic models of business cycles used in modern macroeconomics. We will start with the Real business cycles model and examine its empirical performance. We will then study the New Keynesian Model and introduce monetary policy in that framework.
- Facts about the business cycle
- Real Business Cycle theory and performance
- The New Keynesian Model
- Intro to Monetary Policy
There will be 5 lectures (15 lecture hours). In addition, 3 lecture hours will be used for exercises and for providing feedback to students on problem sets. Students are required to participate in class – both in discussions and by presenting models/material from the reading lists – as well as solve and hand in solutions to exercises and problems.
This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.