Current Semester
Econometric Analysis of Economic Growth
Seminar
This seminar is a project seminar. In this seminar, students do not simply present papers and discuss them, rather they analyze macroeconomic data sets using statistical and simple econometric methods. The aim of the analysis is to find, from a cross-country perspective, patterns or regularities in growth processes, to interpret the results economically and to formulate and test hypotheses.
Theory of Economic Growth
Lecture & Exercises
The lecture provides an introduction to the theory of economic growth. Basic knowledge in analysis and econometrics is essential to successfully participate in the course. Topics covered include: Stylized facts of economic growth, factor accumulation and technical progress, Solow-Model, convergence concepts, human capital, models of endogenous and semi-endogenous growth, poverty traps, green growth, economic growth of commodity-rich countries.
Introduction to Dynamic Macroeconomic Models
Lecture & Exercise
Business cycles, economic growth, inflation or the development of sovereign debt are examples for important macroeconomic variables that change over time. Thus, sound macroeconomic models are necessarily dynamic, i.e. they model variables as a function of time, for example as y=y(t), where t represents time. All dynamic models (not only macroeconomic models) therefore make use of either difference or differential equations. These (dynamic) equations are the mathematical core of dynamic models.
The lecture provides an introduction to the solution of (predominantly linear) difference and differential equations. The mathematical theory and corresponding solution techniques are presented step by step, each step accompanied by examples of important macroeconomic models that exhibit the relevant mathematical structure.
No specific prerequisites exist beyond mathematics at the high school level and possibly some additional knowledge from the two mathematics lectures in the bachelor's program. Yet, students should have an interest in mathematics and a willingness to engage in problem-solving thinking.
The exercise session for the course will be held in English.
Empirical Business Cycle Analysis
Lecture & Exercises
This course provides an introduction to empirical business cycle analysis using descriptive and structural models from time series econometrics. No prior knowledge of time series econometrics is required, but students should be familiar with basic econometrics. The course surveys the development of business cycles theory in recent decades and shows how theories can be tested empirically using modern time series methods. The lecture focuses on the application of methods, it does not cover the underlying estimation theory.
Time Series Econometrics
Interactive Lecture
This lecture provides an introduction to modern time series analysis. It covers basic concepts, univariate stationary processes, estimation, testing and forecasting, univariate nonstationary processes, spurious regressions, unit root tests, multivariate stationary processes, impulse response and variance decomposition analyses, Granger causality, multivariate nonstationary processes, cointegration and vector error correction models.