Seminar: Advanced Monetary Macroeconomics (F)

Course content

The aim of the seminar is to have students go into depth with recent research articles within the area of monetary macroeconomics. Students can do theoretical as well as empirically based work. It is a prerequisite to master good analytical skills and economic intuition.

Education

MSc programme of Economics
The seminar is primary for students at the MSc of Economics

The course is a part of the financial line, signified by (F)

Learning outcome

A list of possible subjects is offered here. However, students are free to choose other subjects, or narrow/widen listed subjects in agreement with me.

  • Financial frictions and crises in macroeconomic models
  • Zero-lower-bound on nominal interest rates and the challenges it poses for policymaking
  • Fiscal stimulus: The way out of a financial crisis?
  • Monetary and fiscal policy interaction
  • Numerical analyses of general equilibrium models of monetary policymaking (this can be done within a host of problems)
  • Monetary policy coordination or monetary unification?
  • Financial crises and unconventional monetary policy
  • Inflation dynamics – what drives inflation?
  • What should a central bank target?
  • The optimal rate of inflation
  • Monetary policy and asset price fluctuations
  • Monetary policy and the housing market

Students must submit a one-page proposal for their paper no later than October 1. Prior to that they can discuss subject and literature on a bilateral basis with me. The paper must be uploaded on November 14. All papers are presented and discussed at a mini conference on November 30-December 1 (full days), where each participant presents his/her paper for 40 minutes followed by a discussion by a discussant (15 minutes), and subsequently a general discussion. Discussants will be assigned to the papers by me, and every participant must submit three relevant questions on all papers in writing to me prior to the conference. The learning method is that students consult with me during the semester prior to the mini-conference when needed.

Students are free to, and must, choose relevant literature themselves for their projects.  A book that signals the level and requirements, is Carl Walsh’s “Monetary Theory and Policy” (2010, The MIT Press), which is the core curriculum in the masters course “Monetary Policy” (until 2015 named “Monetary Economics: Macro Aspects”).

All mandatory macro courses. A book that signals the level and requirements, is Carl Walsh’s “Monetary Theory and Policy” (2010, The MIT Press), which is the core curriculum in the masters course “Monetary Policy” (until 2015 named “Monetary Economics: Macro Aspects”). Having followed the course is not a necessity, but knowing the curriculum is an advantage. See the web page http:/​/​www.econ.ku.dk/​personal/​Henrikj/​monpol2016/​
Also, having followed the summer course on “Theoretical and Empirical Foundations of DSGE Modelling” is a great starting point.

ECTS
7,5 ECTS
Type of assessment
Written assignment
A written seminar paper in English.
Aid
All aids allowed

Al aids for the written seminarpaper.

Marking scale
7-point grading scale
Censorship form
External censorship
up to 20 % censorship at the seminarpaper
Criteria for exam assessment

The student must in a satisfactory way demonstrate that he/she has mastered the learning outcome of the course.

  • Category
  • Hours
  • Seminar
  • 6
  • Exam
  • 0,6
  • Project work
  • 200
  • English
  • 206,6