Macroeconomics

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Extended overview of fundamental macroeconomic models at the Ph.D. level. The main topics include: growth theory, business cycles, fiscal policy and monetary economics. The presentation of baseline models as well as the discussion of research articles that apply these models to answer key questions in modern economics are covered from theoretical/analytical and practical/computational perspectives.

Literatura podstawowa:

1. Jones, C. and Vollrath, D. (2013): Introduction to Economic Growth. Wiley;

2. Wickens, M. (2012): Macroeconomic Theory. A Dynamic General Equilibrium Approach. Princeton University Press, 2nd ed.

Literatura uzupełniająca:

1. Aiyagari, S.R. 1994. ""Uninsured idiosyncratic risk and aggregate saving,"" Quarterly Journal of Economics, 109(3), 659-84.

2. Baxter, M., and R. G. King (1993): \Fiscal Policy in General Equilibrium,""American Economic Review, 83(3), 315-334.

3. Bielecki, M., Brzoza-Brzezina, M., Kolasa, M. 2020. ""Demographics and the natural interest rate in the euro area,"" European Economic Review, Elsevier, vol. 129(C).

4. Carroll, C., J. Slacalek, K. Tokuoka, and M. N. White (2017): The distribution of wealth and the marginal propensity to consume,"" Quantitative Economics, 8(3), 977-1020.

5. Clarida, R., Gali, J. Gertler, M. 1999 The Science of Monetary Policy: A New Keynesian Perspective,"" Journal of Economic Literature, 37(4), 1661-1707.

6. Coibion, O. Gorodnichenko, Y. 2015. ""Is the Phillips Curve Alive and Well after All? Inflation Expectations and the Missing Disinflation,"" American Economic Journal: Macroeconomics, American Economic Association, vol. 7(1), 197-232

7. Jones, C. I. 1995. ?R&D-based Models of Economic Growth? Journal of Political Economy, 103, 759-784.

8. Jones, C. I. 2016. ?The Facts of Economic Growth,? Handbook of Macroeconomics, Vol. 2A, pp. 3-69.

9. Lucas, R. 1988. ?On the Mechanics of Economic Development,? Journal of Monetary Economics 22, 3-42.

10. Lucas, R. 2003. ?Macroeconomic priorities,? American Economic Review, March, Vol. 93, No. 1, pp. 1?14.

11. Romer, P. M. 1990. ?Endogenous Technological Change,? Journal of Political Economy 98, S71-S102.

Wiedza: Knowledge of contemporary research models; Understanding of mathematical tools used in modern macroeconomics at the advanced level; Knowledge of key macroeconomic stylized facts about the short-, medium- and long-term behavior of the macroeconomy.

Umiejętności: Ability to formulate opinions on economic problems and support them using knowledge of empirical regularities and theoretical implications of contemporary macroeconomics.; Application of appropriate modeling tools and solution methods to address main economic problems.; Application of the relevant knowledge to both current and new questions in macroeconomics.

Kompetencje społeczne: Ability to contribute to discussions on macroeconomic topics.; Ability to describe and explain main macroeconomic linkages observed in the modern world.

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