The goal of the course is to develop the student’s knowledge and skills in working with and understanding advanced theoretical models that depict macroeconomic processes and economic growth and to distinguish between alternative modeling approaches

On completion of the course, the students will be able to:

• Knowledge and understanding
• Skills and abilities
• Judgement and approach

• Demonstrate broad knowledge and deep understanding of how well theoretical models are able to depict macroeconomic processes and distinguish between alternative ways of analyzing economic growth

• Demonstrate the capacity for independent and creative scholarly analysis of neoclassical, Keynesian, New Keynesian, or endogenous economic growth models and the skills to apply such models to empirical problems using real data within a predetermined time frame.
• Demonstrate broad knowledge and systematic understanding of complex macroeconomic policy issues and relate arguments to well understood theoretical principles

• Demonstrate intellectual autonomy and integrity in the discussion of a specific topic in the area of advanced macroeconomics

• The course covers various theoretical macroeconomic models that deal with macroeconomic processes, economic fluctuations and economic growth. The course presents neoclassical models of economic growth and more recent models of endogenous economic growth. It also presents a models of real business cycles, and Keynesian and New Keynesian economic models.

• Lectures and assignment

The teaching is conducted in English.

Admitted to a doctoral programme in economics or a related subject of a recognized business school or university.

The course is graded Fail (U) or Pass (G).

Course assessment consists of two elements
• Written Exam deals with ILOs 1 and 3
• Written Assignment deals with ILOs 1, 2 and 4
Each of these two elements must be passed to obtain a pass in the course.
The grades given are pass or fail.

A course evaluation will be conducted at the end of the course.

The listed literature combined with lecture notes and additional articles, which are distributed for each lecture occasion and which can also be retrieved electronically.
Barro, R. J., and X. Sala-i-Martin. Economic Growth, 1995, chapters 6 and 7.
Romer, David (2001). Advanced Macroeconomics: The McGraw-Hill Companies, Inc.
Additional articles will be assigned.