19 August 2016
Tools for Macroeconomists: The Essentials
This is a hands-on graduate-level course teaching key techniques to analyse and estimate macroeconomics models. It teaches the key building blocks of numerical analysis such as function approximation and numerical integration. The course shows how these techniques are used in perturbation and projection methods to accurately solve nonlinear dynamic stochastic models. Relevant theoretical aspects such as the Blanchard-Kahn conditions and the possibility of sunspots solutions are also covered. The course also teaches the tools to estimate such models (Kalman filter, Bayesian estimation, MCMC).
Students are taught how to use Dynare, but also how to write Matlab programs to solve a variety of models with other techniques. In addition to teaching techniques, the course also focuses on practical problems that researchers run into when using these techniques.
Professor Wouter den Haan
Dr Petr Sedlacek
The course is aimed at PhD students and academics.
This course will provide students with:
a chance to learn a solid set of different tools to analyse and estimate modern macroeconomic models
a better understanding of the properties of modern macroeconomic models
a better understanding of the importance of nonlinearities
a better understanding of the limitations of popular techniques
GBP 725: Student rate - available to current university (including PhD) students.
Academic staff and staff of UK charities are eligible for a reduced rate of £1,500.
GBP 2300: Standard fee.
Current PhD students are also eligible for a £150 ESRC scholarship.