Macroeconomics 1: Advanced Optimization Methods for Macroeconomic Models (2018)


Basic Information

  • Organizer: University of Helsinki
  • Location: Helsinki, Arkadiankatu 7, Economicum building, seminar room 3-4
  • Time schedule
    • Lectures: Tue 10-12 and Wed 10-12 (4.9. - 10.10.)
    • Exercise sessions: Wed 14-16 (12.9. - 3.10.)
    • Exam: 22.10.2018
    • Retake exam: 12.12.2018
    • Please note that all changes to this original schedule will only be posted on the course home page, see above
  • The course includes 24 hours of lectures and 8 hours of exercises, a final exam and a possibility to retake the exam.

Teaching Staff

  • Instructor: Research Director Niku Määttänen (Etla, Research Institute of the Finnish Economy and Aalto University)
  • Teaching assistant: Lauro Carnicelli (University of Helsinki)

Topics and learning objectives

  • Deterministic dynamic macroeconomic models: growth theory, Ramsey-Cass-Koopmans model, social planner vs. decentralized economy
  • Exogenous vs. optimal taxation
  • Dynamic programming and value function iteration methods
  • Main textbook: Recursive Macroeconomic Theory by Ljungqvist, L. and Sargent, T., 2nd edition (2004) online or 3rd edition (2012), MIT Press, for paperback

Course Material

  • To be added here