Course Information

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2024

Extent and Intensity

2/2/0. 10 credit(s). Type of Completion: zk (examination).
In-person direct teaching

Teacher(s)

doc. Ing. Daniel Němec, Ph.D. (lecturer)
Ing. Mgr. Vlastimil Reichel, Ph.D. (seminar tutor)
Ing. Mgr. Vlastimil Reichel, Ph.D. (lecturer)
Mgr. Jakub Chalmovianský, Ph.D. (lecturer)
Mgr. Jakub Chalmovianský, Ph.D. (seminar tutor)

Guaranteed by

doc. Ing. Daniel Němec, Ph.D.
Department of Economics – Faculty of Economics and Administration
Contact Person: Mgr. Jarmila Šveňhová
Supplier department: Department of Economics – Faculty of Economics and Administration

Timetable

Thu 16:00–17:50 P103, except Thu 19. 9., except Thu 7. 11.

Timetable of Seminar Groups:

MPE_MAMO/01: Thu 18:00–19:50 VT204, except Thu 19. 9., except Thu 7. 11., J. Chalmovianský, V. Reichel

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

there are 8 fields of study the course is directly associated with, display

Course objectives

This course is intended to provide the students with advanced knowledge of the tools and techniques of macroeconomic modelling (including methods of model identification and interpretation of particular model building blocks), especially in the field of Dynamic Stochastic General Equilibrium models (DSGE).

Learning outcomes

At the end of the course students should be able to:
-formulate and derive the main equations of standard DSGE (dynamic stochastic general equilibrium) models (with alternative specifications)
-log-linearize first order conditions
-calibrate, simulate and diagnose DSGE models
-prepare data sets (including appropriate transformations)
-understand idea behind the state-space form of dynamic models, Kalman filter and solutions of models with rational expectations
-identify and diagnose DSGE models
-perform sensitivity and robustness analysis
-interpret the obtained results

Syllabus

Lectures:
1. Classical monetary model – basic equations and principles of deriving first order conditions, general equilibrium
2. Basic New Keynesian monetary model I – basic blocks, optimal decision of firms and households, Calvo pricing mechanism
3. Basic New Keynesian monetary model II - New Keynesian Phliips Curve and general equilibrium, monetary rule
4. Model with staggered wages and prices – alternative approaches to model price and wage rigidities
5. Small open economy model I – basic principles, domestic and foreign sector, tradable and non-tradable goods
6. Small open economy model II – exchange rate, terms of trade, uncovered interest parity
7. Money in NK models – alternative approaches to model money in NK models
8. Models with labor market I – nominal and real labor market rigidities, matching function
9. Models with labor market II – alternative concepts of wage bargaining
10. Model with fiscal policy – Ricardian and non-Ricardian households, the role of taxes in DSGE models
11. Optimal monetary policy – alternative monetary rules, discretion versus commitment
12. Actual issues and problems of DSGE modelling
Seminars:
1. Log-linearizing macroeconomic models, introduction to Dynare toolbox for Matlab.
2. Model calibration, solving steady-states and model simulations.
3. Diagnostics of simulated models – autocorrelation functions and simulated moments.
4. State-space form of dynamic macroeconomic models and Kalman filter I
5. State-space form of dynamic macroeconomic models and Kalman filter II
6. Models with rational expectations and their solutions.
7. Preparing data sets, data analysis, the possibilities to detrending data, stating connections between model and observed data.
8. Identification (estimation) of DSGE models and basic diagnostic tests.
9. Evaluating quality of identified DSGE models and analysing impulse-response function.
10. Historical shock decomposition and evaluating quality of identified DSGE models.
11. Sensitivity and robustness analysis.
12. Model predictions.

Literature

required literature

GALÍ, Jordi. Monetary policy, inflation, and the business cycle : an introduction to the new Keynesian framework and its applications. Second edition. Princeton: Princeton University Press, 2015, xii, 279. ISBN 9780691164786. info
COSTA, Celso. Understanding DSGE. Wilmington: Vernon Press, 2016, x, 269. ISBN 9781622730384. info

recommended literature

DEJONG, David N. and Chetan DAVE. Structural macroeconometrics. Second edition. Princeton: Princeton University Press, 2011, xvi, 418. ISBN 9780691152875. info
WICKENS, Mike. Macroeconomic theory : a dynamic general equilibrium approach. Second edition. Princeton: Princeton University Press, 2012, xvii, 596. ISBN 9780691152868. info
CANOVA, Fabio. Methods for applied macroeconomic research. Princeton: Princeton University Press, 2007, xiv, 492. ISBN 9780691115047. info

Teaching methods

lectures, seminars (theoretical exercises, practical computations in Matlab software - Dynare toolbox, working with data, identifying DSGE models)

Assessment methods

Semestral project and its presentation within the oral exam (including discussion). If a student enrolls in the course while they are abroad, there will be no alteration in the course evaluation. However, individual deadlines will be provided to the student to meet their course requirements.

Language of instruction

Czech

Further comments (probably available only in Czech)

Study Materials
The course is taught annually.
General note: Přednášky jsou dostupné online a ze záznamu.
Information on course enrolment limitations: max. 20 cizích studentů; cvičení pouze pro studenty ESF

The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023.

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2023

Extent and Intensity

2/2/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

Guaranteed by

Timetable

Thu 16:00–17:50 P106, except Thu 21. 9., except Thu 9. 11.

Timetable of Seminar Groups:

MPE_MAMO/01: Thu 18:00–19:50 VT204, except Thu 21. 9., except Thu 9. 11., J. Chalmovianský, V. Reichel

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

there are 8 fields of study the course is directly associated with, display

Course objectives

Learning outcomes

Syllabus

Lectures:
1. Classical monetary model – basic equations and principles of deriving first order conditions, general equilibrium
2. Basic New Keynesian monetary model I – basic blocks, optimal decision of firms and households, Calvo pricing mechanism
3. Basic New Keynesian monetary model II - New Keynesian Phliips Curve and general equilibrium, monetary rule
4. Model with staggered wages and prices – alternative approaches to model price and wage rigidities
5. Small open economy model I – basic principles, domestic and foreign sector, tradable and non-tradable goods
6. Small open economy model II – exchange rate, terms of trade, uncovered interest parity
7. Money in NK models – alternative approaches to model money in NK models
8. Models with labor market I – nominal and real labor market rigidities, matching function
9. Models with labor market II – alternative concepts of wage bargaining
10. Model with fiscal policy – Ricardian and non-Ricardian households, the role of taxes in DSGE models
11. Optimal monetary policy – alternative monetary rules, discretion versus commitment
12. Actual issues and problems of DSGE modelling
Seminars:
1. Log-linearizing macroeconomic models, introduction to Dynare toolbox for Matlab.
2. Model calibration, solving steady-states and model simulations.
3. Diagnostics of simulated models – autocorrelation functions and simulated moments.
4. State-space form of dynamic macroeconomic models and Kalman filter I
5. State-space form of dynamic macroeconomic models and Kalman filter II
6. Models with rational expectations and their solutions.
7. Preparing data sets, data analysis, the possibilities to detrending data, stating connections between model and observed data.
8. Identification (estimation) of DSGE models and basic diagnostic tests.
9. Evaluating quality of identified DSGE models and analysing impulse-response function.
10. Historical shock decomposition and evaluating quality of identified DSGE models.
11. Sensitivity and robustness analysis.
12. Model predictions.

Literature

required literature

GALÍ, Jordi. Monetary policy, inflation, and the business cycle : an introduction to the new Keynesian framework and its applications. Second edition. Princeton: Princeton University Press, 2015, xii, 279. ISBN 9780691164786. info
COSTA, Celso. Understanding DSGE. Wilmington: Vernon Press, 2016, x, 269. ISBN 9781622730384. info

recommended literature

DEJONG, David N. and Chetan DAVE. Structural macroeconometrics. Second edition. Princeton: Princeton University Press, 2011, xvi, 418. ISBN 9780691152875. info
WICKENS, Mike. Macroeconomic theory : a dynamic general equilibrium approach. Second edition. Princeton: Princeton University Press, 2012, xvii, 596. ISBN 9780691152868. info
CANOVA, Fabio. Methods for applied macroeconomic research. Princeton: Princeton University Press, 2007, xiv, 492. ISBN 9780691115047. info

Teaching methods

lectures, seminars (theoretical exercises, practical computations in Matlab software - Dynare toolbox, working with data, identifying DSGE models)

Assessment methods

Language of instruction

Czech

Further comments (probably available only in Czech)

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2022

Extent and Intensity

2/2/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

Guaranteed by

Timetable

Thu 16:00–17:50 P106, except Thu 15. 9., except Thu 3. 11.

Timetable of Seminar Groups:

MPE_MAMO/01: Thu 18:00–19:50 VT204, except Thu 15. 9., except Thu 3. 11., J. Chalmovianský, D. Němec, V. Reichel

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

there are 8 fields of study the course is directly associated with, display

Course objectives

Learning outcomes

Syllabus

Lectures:
1. Classical monetary model – basic equations and principles of deriving first order conditions, general equilibrium
2. Basic New Keynesian monetary model I – basic blocks, optimal decision of firms and households, Calvo pricing mechanism
3. Basic New Keynesian monetary model II - New Keynesian Phliips Curve and general equilibrium, monetary rule
4. Model with staggered wages and prices – alternative approaches to model price and wage rigidities
5. Small open economy model I – basic principles, domestic and foreign sector, tradable and non-tradable goods
6. Small open economy model II – exchange rate, terms of trade, uncovered interest parity
7. Money in NK models – alternative approaches to model money in NK models
8. Models with labor market I – nominal and real labor market rigidities, matching function
9. Models with labor market II – alternative concepts of wage bargaining
10. Model with fiscal policy – Ricardian and non-Ricardian households, the role of taxes in DSGE models
11. Optimal monetary policy – alternative monetary rules, discretion versus commitment
12. Actual issues and problems of DSGE modelling
Seminars:
1. Log-linearizing macroeconomic models, introduction to Dynare toolbox for Matlab.
2. Model calibration, solving steady-states and model simulations.
3. Diagnostics of simulated models – autocorrelation functions and simulated moments.
4. State-space form of dynamic macroeconomic models and Kalman filter I
5. State-space form of dynamic macroeconomic models and Kalman filter II
6. Models with rational expectations and their solutions.
7. Preparing data sets, data analysis, the possibilities to detrending data, stating connections between model and observed data.
8. Identification (estimation) of DSGE models and basic diagnostic tests.
9. Evaluating quality of identified DSGE models and analysing impulse-response function.
10. Historical shock decomposition and evaluating quality of identified DSGE models.
11. Sensitivity and robustness analysis.
12. Model predictions.

Literature

required literature

GALÍ, Jordi. Monetary policy, inflation, and the business cycle : an introduction to the new Keynesian framework. Princeton: Princeton University Press, 2008, xi, 203. ISBN 9780691133164. info
DEJONG, David N. and Chetan DAVE. Structural macroeconometrics. Princeton: Princeton University Press, 2007, xiv, 338. ISBN 9780691126487. info

recommended literature

WICKENS, Mike. Macroeconomic theory : a dynamic general equilibrium approach. Second edition. Princeton: Princeton University Press, 2012, xvii, 596. ISBN 9780691152868. info
CANOVA, Fabio. Methods for applied macroeconomic research. Princeton: Princeton University Press, 2007, xiv, 492. ISBN 9780691115047. info

Teaching methods

lectures, seminars (theoretical exercises, practical computations in Matlab software - Dynare toolbox, working with data, identifying DSGE models)

Assessment methods

Semestral project and its presentation within the oral exam (including discussion)

Language of instruction

Czech

Further comments (probably available only in Czech)

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2021

Extent and Intensity

2/2/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

doc. Ing. Daniel Němec, Ph.D. (lecturer)
doc. Ing. Daniel Němec, Ph.D. (seminar tutor)
Ing. Mgr. Vlastimil Reichel, Ph.D. (seminar tutor)
Ing. Mgr. Vlastimil Reichel, Ph.D. (lecturer)
Mgr. Jakub Chalmovianský, Ph.D. (lecturer)
Mgr. Jakub Chalmovianský, Ph.D. (seminar tutor)

Guaranteed by

Timetable

Thu 16:00–17:50 P106, except Thu 16. 9., except Thu 30. 9., except Thu 4. 11.

Timetable of Seminar Groups:

MPE_MAMO/01: Thu 18:00–19:50 VT204, except Thu 16. 9., except Thu 4. 11., J. Chalmovianský, V. Reichel

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

there are 9 fields of study the course is directly associated with, display

Course objectives

Learning outcomes

Syllabus

Lectures:
1. Classical monetary model – basic equations and principles of deriving first order conditions, general equilibrium
2. Basic New Keynesian monetary model I – basic blocks, optimal decision of firms and households, Calvo pricing mechanism
3. Basic New Keynesian monetary model II - New Keynesian Phliips Curve and general equilibrium, monetary rule
4. Model with staggered wages and prices – alternative approaches to model price and wage rigidities
5. Small open economy model I – basic principles, domestic and foreign sector, tradable and non-tradable goods
6. Small open economy model II – exchange rate, terms of trade, uncovered interest parity
7. Money in NK models – alternative approaches to model money in NK models
8. Models with labor market I – nominal and real labor market rigidities, matching function
9. Models with labor market II – alternative concepts of wage bargaining
10. Model with fiscal policy – Ricardian and non-Ricardian households, the role of taxes in DSGE models
11. Optimal monetary policy – alternative monetary rules, discretion versus commitment
12. Actual issues and problems of DSGE modelling
Seminars:
1. Log-linearizing macroeconomic models, introduction to Dynare toolbox for Matlab.
2. Model calibration, solving steady-states and model simulations.
3. Diagnostics of simulated models – autocorrelation functions and simulated moments.
4. State-space form of dynamic macroeconomic models and Kalman filter I
5. State-space form of dynamic macroeconomic models and Kalman filter II
6. Models with rational expectations and their solutions.
7. Preparing data sets, data analysis, the possibilities to detrending data, stating connections between model and observed data.
8. Identification (estimation) of DSGE models and basic diagnostic tests.
9. Evaluating quality of identified DSGE models and analysing impulse-response function.
10. Historical shock decomposition and evaluating quality of identified DSGE models.
11. Sensitivity and robustness analysis.
12. Model predictions.

Literature

required literature

GALÍ, Jordi. Monetary policy, inflation, and the business cycle : an introduction to the new Keynesian framework. Princeton: Princeton University Press, 2008, xi, 203. ISBN 9780691133164. info
DEJONG, David N. and Chetan DAVE. Structural macroeconometrics. Princeton: Princeton University Press, 2007, xiv, 338. ISBN 9780691126487. info

recommended literature

WICKENS, Mike. Macroeconomic theory : a dynamic general equilibrium approach. Second edition. Princeton: Princeton University Press, 2012, xvii, 596. ISBN 9780691152868. info
CANOVA, Fabio. Methods for applied macroeconomic research. Princeton: Princeton University Press, 2007, xiv, 492. ISBN 9780691115047. info

Teaching methods

lectures, seminars (theoretical exercises, practical computations in Matlab software - Dynare toolbox, working with data, identifying DSGE models)

Assessment methods

Semestral project and its presentation within the oral exam (including discussion)

Language of instruction

Czech

Further comments (probably available only in Czech)

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2020

Extent and Intensity

2/2/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

doc. Ing. Daniel Němec, Ph.D. (lecturer)
doc. Ing. Daniel Němec, Ph.D. (seminar tutor)
prof. Ing. Osvald Vašíček, CSc. (lecturer)
Ing. Mgr. Vlastimil Reichel, Ph.D. (seminar tutor)
Ing. Mgr. Vlastimil Reichel, Ph.D. (lecturer)
Mgr. Jakub Chalmovianský, Ph.D. (lecturer)
Mgr. Jakub Chalmovianský, Ph.D. (seminar tutor)

Guaranteed by

Timetable

Thu 16:00–17:50 P106

Timetable of Seminar Groups:

MPE_MAMO/01: Thu 18:00–19:50 VT204, J. Chalmovianský, D. Němec, V. Reichel

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

there are 9 fields of study the course is directly associated with, display

Course objectives

Learning outcomes

Syllabus

Lectures:
1. Classical monetary model – basic equations and principles of deriving first order conditions, general equilibrium
2. Basic New Keynesian monetary model I – basic blocks, optimal decision of firms and households, Calvo pricing mechanism
3. Basic New Keynesian monetary model II - New Keynesian Phliips Curve and general equilibrium, monetary rule
4. Model with staggered wages and prices – alternative approaches to model price and wage rigidities
5. Small open economy model I – basic principles, domestic and foreign sector, tradable and non-tradable goods
6. Small open economy model II – exchange rate, terms of trade, uncovered interest parity
7. Money in NK models – alternative approaches to model money in NK models
8. Models with labor market I – nominal and real labor market rigidities, matching function
9. Models with labor market II – alternative concepts of wage bargaining
10. Model with fiscal policy – Ricardian and non-Ricardian households, the role of taxes in DSGE models
11. Optimal monetary policy – alternative monetary rules, discretion versus commitment
12. Actual issues and problems of DSGE modelling
Seminars:
1. Log-linearizing macroeconomic models, introduction to Dynare toolbox for Matlab.
2. Model calibration, solving steady-states and model simulations.
3. Diagnostics of simulated models – autocorrelation functions and simulated moments.
4. State-space form of dynamic macroeconomic models and Kalman filter I
5. State-space form of dynamic macroeconomic models and Kalman filter II
6. Models with rational expectations and their solutions.
7. Preparing data sets, data analysis, the possibilities to detrending data, stating connections between model and observed data.
8. Identification (estimation) of DSGE models and basic diagnostic tests.
9. Evaluating quality of identified DSGE models and analysing impulse-response function.
10. Historical shock decomposition and evaluating quality of identified DSGE models.
11. Sensitivity and robustness analysis.
12. Model predictions.

Literature

required literature

GALÍ, Jordi. Monetary policy, inflation, and the business cycle : an introduction to the new Keynesian framework. Princeton: Princeton University Press, 2008, xi, 203. ISBN 9780691133164. info
DEJONG, David N. and Chetan DAVE. Structural macroeconometrics. Princeton: Princeton University Press, 2007, xiv, 338. ISBN 9780691126487. info

recommended literature

WICKENS, Mike. Macroeconomic theory : a dynamic general equilibrium approach. Second edition. Princeton: Princeton University Press, 2012, xvii, 596. ISBN 9780691152868. info
CANOVA, Fabio. Methods for applied macroeconomic research. Princeton: Princeton University Press, 2007, xiv, 492. ISBN 9780691115047. info

Teaching methods

lectures, seminars (theoretical exercises, practical computations in Matlab software - Dynare toolbox, working with data, identifying DSGE models)

Assessment methods

Semestral project and its presentation within the oral exam (including discussion)

Language of instruction

Czech

Further comments (probably available only in Czech)

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2019

Extent and Intensity

2/2/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

doc. Ing. Daniel Němec, Ph.D. (lecturer)
doc. Ing. Daniel Němec, Ph.D. (seminar tutor)
prof. Ing. Osvald Vašíček, CSc. (lecturer)
Ing. Mgr. Vlastimil Reichel, Ph.D. (seminar tutor)
Ing. Mgr. Vlastimil Reichel, Ph.D. (lecturer)
Mgr. Jakub Bechný, Ph.D. (assistant)
Mgr. Jakub Chalmovianský, Ph.D. (assistant)

Guaranteed by

Timetable

Thu 14:00–15:50 P106

Timetable of Seminar Groups:

MPE_MAMO/01: Thu 18:00–19:50 VT204, D. Němec, V. Reichel

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

there are 9 fields of study the course is directly associated with, display

Course objectives

Learning outcomes

Syllabus

Lectures:
1. Classical monetary model – basic equations and principles of deriving first order conditions, general equilibrium
2. Basic New Keynesian monetary model I – basic blocks, optimal decision of firms and households, Calvo pricing mechanism
3. Basic New Keynesian monetary model II - New Keynesian Phliips Curve and general equilibrium, monetary rule
4. Model with staggered wages and prices – alternative approaches to model price and wage rigidities
5. Small open economy model I – basic principles, domestic and foreign sector, tradable and non-tradable goods
6. Small open economy model II – exchange rate, terms of trade, uncovered interest parity
7. Money in NK models – alternative approaches to model money in NK models
8. Models with labor market I – nominal and real labor market rigidities, matching function
9. Models with labor market II – alternative concepts of wage bargaining
10. Model with fiscal policy – Ricardian and non-Ricardian households, the role of taxes in DSGE models
11. Optimal monetary policy – alternative monetary rules, discretion versus commitment
12. Actual issues and problems of DSGE modelling
Seminars:
1. Log-linearizing macroeconomic models, introduction to Dynare toolbox for Matlab.
2. Model calibration, solving steady-states and model simulations.
3. Diagnostics of simulated models – autocorrelation functions and simulated moments.
4. State-space form of dynamic macroeconomic models and Kalman filter I
5. State-space form of dynamic macroeconomic models and Kalman filter II
6. Models with rational expectations and their solutions.
7. Preparing data sets, data analysis, the possibilities to detrending data, stating connections between model and observed data.
8. Identification (estimation) of DSGE models and basic diagnostic tests.
9. Evaluating quality of identified DSGE models and analysing impulse-response function.
10. Historical shock decomposition and evaluating quality of identified DSGE models.
11. Sensitivity and robustness analysis.
12. Model predictions.

Literature

required literature

GALÍ, Jordi. Monetary policy, inflation, and the business cycle : an introduction to the new Keynesian framework. Princeton: Princeton University Press, 2008, xi, 203. ISBN 9780691133164. info
DEJONG, David N. and Chetan DAVE. Structural macroeconometrics. Princeton: Princeton University Press, 2007, xiv, 338. ISBN 9780691126487. info

recommended literature

WICKENS, Mike. Macroeconomic theory : a dynamic general equilibrium approach. Second edition. Princeton: Princeton University Press, 2012, xvii, 596. ISBN 9780691152868. info
CANOVA, Fabio. Methods for applied macroeconomic research. Princeton: Princeton University Press, 2007, xiv, 492. ISBN 9780691115047. info

Teaching methods

lectures, seminars (theoretical exercises, practical computations in Matlab software - Dynare toolbox, working with data, identifying DSGE models)

Assessment methods

Semestral project and its presentation within the oral exam (including discussion)

Language of instruction

Czech

Further comments (probably available only in Czech)

The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023, Autumn 2024.

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2018

Extent and Intensity

2/2/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

Guaranteed by

prof. Ing. Osvald Vašíček, CSc.
Department of Economics – Faculty of Economics and Administration
Contact Person: Mgr. Jarmila Šveňhová
Supplier department: Department of Economics – Faculty of Economics and Administration

Timetable

Thu 16:00–17:50 P106

Timetable of Seminar Groups:

MPE_MAMO/T01: Tue 18. 9. to Thu 13. 12. Tue 8:00–11:50 115, V. Reichel, Nepřihlašuje se. Určeno pro studenty se zdravotním postižením.
MPE_MAMO/01: Thu 18:00–19:50 VT204, D. Němec, V. Reichel

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

Economics (programme ESF, M-EKT)
Economics (programme ESF, N-EKT)
Economics (programme ESF, N-MA)
Mathematical and Statistical Methods in Economics (programme ESF, N-KME)
Mathematics - Economics (programme PřF, N-AM)

Course objectives

Syllabus

Lectures:
1. Classical monetary model – basic equations and principles of deriving first order conditions, general equilibrium
2. Basic New Keynesian monetary model I – basic blocks, optimal decision of firms and households, Calvo pricing mechanism
3. Basic New Keynesian monetary model II - New Keynesian Phliips Curve and general equilibrium, monetary rule
4. Model with staggered wages and prices – alternative approaches to model price and wage rigidities
5. Small open economy model I – basic principles, domestic and foreign sector, tradable and non-tradable goods
6. Small open economy model II – exchange rate, terms of trade, uncovered interest parity
7. Money in NK models – alternative approaches to model money in NK models
8. Models with labor market I – nominal and real labor market rigidities, matching function
9. Models with labor market II – alternative concepts of wage bargaining
10. Model with fiscal policy – Ricardian and non-Ricardian households, the role of taxes in DSGE models
11. Optimal monetary policy – alternative monetary rules, discretion versus commitment
12. Actual issues and problems of DSGE modelling
Seminars:
1. Log-linearizing macroeconomic models, introduction to Dynare toolbox for Matlab.
2. Model calibration, solving steady-states and model simulations.
3. Diagnostics of simulated models – autocorrelation functions and simulated moments.
4. State-space form of dynamic macroeconomic models and Kalman filter I
5. State-space form of dynamic macroeconomic models and Kalman filter II
6. Models with rational expectations and their solutions.
7. Preparing data sets, data analysis, the possibilities to detrending data, stating connections between model and observed data.
8. Identification (estimation) of DSGE models and basic diagnostic tests.
9. Evaluating quality of identified DSGE models and analysing impulse-response function.
10. Historical shock decomposition and evaluating quality of identified DSGE models.
11. Sensitivity and robustness analysis.
12. Model predictions.

Literature

required literature

GALÍ, Jordi. Monetary policy, inflation, and the business cycle : an introduction to the new Keynesian framework. Princeton: Princeton University Press, 2008, xi, 203. ISBN 9780691133164. info
DEJONG, David N. and Chetan DAVE. Structural macroeconometrics. Princeton: Princeton University Press, 2007, xiv, 338. ISBN 9780691126487. info

recommended literature

WICKENS, Mike. Macroeconomic theory : a dynamic general equilibrium approach. Second edition. Princeton: Princeton University Press, 2012, xvii, 596. ISBN 9780691152868. info

not specified

CANOVA, Fabio. Methods for applied macroeconomic research. Princeton: Princeton University Press, 2007, xiv, 492. ISBN 9780691115047. info

Teaching methods

lectures, seminars (theoretical exercises, practical computations in Matlab software - Dynare toolbox, working with data, identifying DSGE models)

Assessment methods

Semestral project and its presentation within the oral exam (including discussion)

Language of instruction

Czech

Further comments (probably available only in Czech)

Study Materials
The course is taught annually.
Information on course enrolment limitations: max. 20 cizích studentů; cvičení pouze pro studenty ESF

The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023, Autumn 2024.

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2017

Extent and Intensity

2/2/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

Guaranteed by

Timetable of Seminar Groups

MPE_MAMO/02: Thu 16:20–17:55 VT204, D. Němec, V. Reichel

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

Economics (programme ESF, M-EKT)
Economics (programme ESF, N-EKT)
Economics (programme ESF, N-MA)
Mathematical and Statistical Methods in Economics (programme ESF, N-KME)
Mathematics - Economics (programme PřF, N-AM)

Course objectives

Syllabus

Lectures:
1. Classical monetary model – basic equations and principles of deriving first order conditions, general equilibrium
2. Basic New Keynesian monetary model I – basic blocks, optimal decision of firms and households, Calvo pricing mechanism
3. Basic New Keynesian monetary model II - New Keynesian Phliips Curve and general equilibrium, monetary rule
4. Model with staggered wages and prices – alternative approaches to model price and wage rigidities
5. Small open economy model I – basic principles, domestic and foreign sector, tradable and non-tradable goods
6. Small open economy model II – exchange rate, terms of trade, uncovered interest parity
7. Money in NK models – alternative approaches to model money in NK models
8. Models with labor market I – nominal and real labor market rigidities, matching function
9. Models with labor market II – alternative concepts of wage bargaining
10. Model with fiscal policy – Ricardian and non-Ricardian households, the role of taxes in DSGE models
11. Optimal monetary policy – alternative monetary rules, discretion versus commitment
12. Actual issues and problems of DSGE modelling
Seminars:
1. Log-linearizing macroeconomic models, introduction to Dynare toolbox for Matlab.
2. Model calibration, solving steady-states and model simulations.
3. Diagnostics of simulated models – autocorrelation functions and simulated moments.
4. State-space form of dynamic macroeconomic models and Kalman filter I
5. State-space form of dynamic macroeconomic models and Kalman filter II
6. Models with rational expectations and their solutions.
7. Preparing data sets, data analysis, the possibilities to detrending data, stating connections between model and observed data.
8. Identification (estimation) of DSGE models and basic diagnostic tests.
9. Evaluating quality of identified DSGE models and analysing impulse-response function.
10. Historical shock decomposition and evaluating quality of identified DSGE models.
11. Sensitivity and robustness analysis.
12. Model predictions.

Literature

required literature

GALÍ, Jordi. Monetary policy, inflation, and the business cycle : an introduction to the new Keynesian framework. Princeton: Princeton University Press, 2008, xi, 203. ISBN 9780691133164. info
DEJONG, David N. and Chetan DAVE. Structural macroeconometrics. Princeton: Princeton University Press, 2007, xiv, 338. ISBN 9780691126487. info

recommended literature

WICKENS, Mike. Macroeconomic theory : a dynamic general equilibrium approach. Second edition. Princeton: Princeton University Press, 2012, xvii, 596. ISBN 9780691152868. info

not specified

CANOVA, Fabio. Methods for applied macroeconomic research. Princeton: Princeton University Press, 2007, xiv, 492. ISBN 9780691115047. info

Teaching methods

lectures, seminars (theoretical exercises, practical computations in Matlab software - Dynare toolbox, working with data, identifying DSGE models)

Assessment methods

Semestral project and its presentation within the oral exam (including discussion)

Language of instruction

Czech

Further comments (probably available only in Czech)

The course is taught annually.
Information on course enrolment limitations: max. 20 cizích studentů; cvičení pouze pro studenty ESF

The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023, Autumn 2024.

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2016

Extent and Intensity

2/2/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

Ing. Miroslav Hloušek, Ph.D. (lecturer)
prof. Ing. Osvald Vašíček, CSc. (lecturer)
Ing. Mgr. Vlastimil Reichel, Ph.D. (seminar tutor)

Guaranteed by

Timetable of Seminar Groups

MPE_MAMO/02: Thu 16:20–17:55 VT204, M. Hloušek

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

Economics (programme ESF, M-EKT)
Economics (programme ESF, N-EKT)
Economics (programme ESF, N-MA)
Mathematical and Statistical Methods in Economics (programme ESF, N-KME)
Mathematics - Economics (programme PřF, N-AM)

Course objectives

At the end of the course students should be able to:
- give overview of national accounts
- understand Solow growth model
- simulate Markov processes (compute the value of being at a given state)
- solve simple neoclassical growth model
- formulate Lagrangian
-- derive optimality conditions of households and firms and to interepret them
-- define competitive equilibrium
- formulate the model recursively
-- determine state and control variables
-- formulate Bellman equation
-- derive first order conditions
-- derive optimality conditions
- analyticaly compute steady state of the model
- numerically compute value function by method of successive iteration
- compute decision rules
- calibrate structural parameters of simple growth model
- log-linearize model equation
- calculate moments in data
- determine behavior of variables during business cycle
- simulate model economy and compare model moments with moments from data
- apply these procedures in deterministic as well as in sochastic models
- analyze model with labor supply
- understand theory of balanced growth path
- stacionarize model by detrending of variables
- analyze model of overlapping generations and compare it to Ramsey model
- understand behavior of New Keynesian model in reaction to shocks
- compare models of Real business cycle and New Keynesian models

Syllabus

National Accounts, Solow growth model
Neoclassical growth model (inter- and intratemporal choice, equilibrium and the welfare theorems)
Modelling of uncertainty (uncertainty and expected utility, Markov processes)
Neoclassical growth model and dynamic programming (sequential methods, recursive methods)
Stochastic neoclassical growth model (uncertainty and decision making)
Quantitative business cycle analysis, Calibration
Cost of business cycles
Business cycle model with divisible labor supply
Business cycle model with inidivisible labor supply
Overlapping generations model
New Keynesian model

Literature

required literature

MCCANDLESS, George T. The ABCs of RBCs : an introduction to dynamic macroeconomic models. Cambridge, Mass.: Harvard University Press, 2008, xiv, 421. ISBN 9780674028142. info
Williamson, S. Notes on Macroeconomic Theory, http://www.econ.yale.edu/smith/econ510a/notes99.pdf

recommended literature

Advanced macroeconomics. Edited by David Romer. 3rd ed. Boston: McGraw-Hill, 2006, xxii, 678. ISBN 0072877308. info
Krueger, D. Quantitative Macroeconomics, http://www.econ.upenn.edu/~dkrueger/teaching/QuantMacroBook.pdf

Teaching methods

lectures, reading of additional materials
seminars: theoretical exercises, computations in Matlab software, work with data
term paper

Assessment methods

Term paper (necessary before taking exam): group project (2 students), two parts (empirical, theoretical); every student presents solution of assignment at seminar
Examination: written, minimum is 60 %

Language of instruction

Czech

Further comments (probably available only in Czech)

Study Materials
The course is taught annually.
Information on course enrolment limitations: max. 20 cizích studentů; cvičení pouze pro studenty ESF

Information about innovation of course.

This course has been innovated under the project "Inovace studia ekonomických disciplín v souladu s požadavky znalostní ekonomiky (CZ.1.07/2.2.00/28.0227)" which is cofinanced by the European Social Fond and the national budget of the Czech Republic.

logo image

Teacher's information

http://www.econ.muni.cz/~hlousek/teaching/mamo.html

The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023, Autumn 2024.

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2015

Extent and Intensity

2/1/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

Ing. Miroslav Hloušek, Ph.D. (lecturer)
prof. Ing. Osvald Vašíček, CSc. (lecturer)

Guaranteed by

prof. Ing. Osvald Vašíček, CSc.
Department of Economics – Faculty of Economics and Administration
Contact Person: Lydie Pravdová
Supplier department: Department of Economics – Faculty of Economics and Administration

Timetable

Wed 18:00–19:35 P201

Timetable of Seminar Groups:

MPE_MAMO/02: each even Thursday 16:20–17:55 VT105, M. Hloušek

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

Economics (programme ESF, M-EKT)
Economics (programme ESF, N-EKT)
Economics (programme ESF, N-MA)
Mathematical and Statistical Methods in Economics (programme ESF, N-KME)
Mathematics - Economics (programme PřF, N-AM)

Course objectives

Syllabus

National Accounts, Solow growth model
Neoclassical growth model (inter- and intratemporal choice, equilibrium and the welfare theorems)
Modelling of uncertainty (uncertainty and expected utility, Markov processes)
Neoclassical growth model and dynamic programming (sequential methods, recursive methods)
Stochastic neoclassical growth model (uncertainty and decision making)
Quantitative business cycle analysis, Calibration
Cost of business cycles
Business cycle model with divisible labor supply
Business cycle model with inidivisible labor supply
Overlapping generations model
New Keynesian model

Literature

required literature

MCCANDLESS, George T. The ABCs of RBCs : an introduction to dynamic macroeconomic models. Cambridge, Mass.: Harvard University Press, 2008, xiv, 421. ISBN 9780674028142. info
Williamson, S. Notes on Macroeconomic Theory, http://www.econ.yale.edu/smith/econ510a/notes99.pdf

recommended literature

Advanced macroeconomics. Edited by David Romer. 3rd ed. Boston: McGraw-Hill, 2006, xxii, 678. ISBN 0072877308. info
Krueger, D. Quantitative Macroeconomics, http://www.econ.upenn.edu/~dkrueger/teaching/QuantMacroBook.pdf

Teaching methods

lectures, reading of additional materials
seminars: theoretical exercises, computations in Matlab software, work with data
term paper

Assessment methods

Language of instruction

Czech

Further comments (probably available only in Czech)

Study Materials
The course is taught annually.
Information on course enrolment limitations: max. 20 cizích studentů; cvičení pouze pro studenty ESF

Information about innovation of course.

Teacher's information

http://www.econ.muni.cz/~hlousek/teaching/mamo.html

The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023, Autumn 2024.

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2014

Extent and Intensity

2/1/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

Ing. Miroslav Hloušek, Ph.D. (lecturer)
prof. Ing. Osvald Vašíček, CSc. (lecturer)

Guaranteed by

Timetable

Tue 14:35–16:15 P201

Timetable of Seminar Groups:

MPE_MAMO/01: each odd Thursday 14:35–16:15 VT204
MPE_MAMO/02: each even Thursday 14:35–16:15 VT204, M. Hloušek

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

Economics (programme ESF, M-EKT)
Economics (programme ESF, N-EKT)
Economics (programme ESF, N-MA)
Mathematical and Statistical Methods in Economics (programme ESF, N-KME)
Mathematics - Economics (programme PřF, N-AM)

Course objectives

Syllabus

National Accounts, Solow growth model
Neoclassical growth model (inter- and intratemporal choice, equilibrium and the welfare theorems)
Modelling of uncertainty (uncertainty and expected utility, Markov processes)
Neoclassical growth model and dynamic programming (sequential methods, recursive methods)
Stochastic neoclassical growth model (uncertainty and decision making)
Quantitative business cycle analysis, Calibration
Cost of business cycles
Business cycle model with divisible labor supply
Business cycle model with inidivisible labor supply
Overlapping generations model
New Keynesian model

Literature

required literature

MCCANDLESS, George T. The ABCs of RBCs : an introduction to dynamic macroeconomic models. Cambridge, Mass.: Harvard University Press, 2008, xiv, 421. ISBN 9780674028142. info
Williamson, S. Notes on Macroeconomic Theory, http://www.econ.yale.edu/smith/econ510a/notes99.pdf

recommended literature

Advanced macroeconomics. Edited by David Romer. 3rd ed. Boston: McGraw-Hill, 2006, xxii, 678. ISBN 0072877308. info
Krueger, D. Quantitative Macroeconomics, http://www.econ.upenn.edu/~dkrueger/teaching/QuantMacroBook.pdf

Teaching methods

lectures, reading of additional materials
seminars: theoretical exercises, computations in Matlab software, work with data
term paper

Assessment methods

Language of instruction

Czech

Further comments (probably available only in Czech)

Study Materials
The course is taught annually.
Information on course enrolment limitations: max. 20 cizích studentů; cvičení pouze pro studenty ESF

Information about innovation of course.

Teacher's information

http://www.econ.muni.cz/~hlousek/teaching/mamo.html

The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023, Autumn 2024.

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2013

Extent and Intensity

2/1/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

Ing. Miroslav Hloušek, Ph.D. (lecturer)
prof. Ing. Osvald Vašíček, CSc. (lecturer)

Guaranteed by

Timetable

Tue 14:35–16:15 P201

Timetable of Seminar Groups:

MPE_MAMO/01: each odd Thursday 14:35–16:15 VT204
MPE_MAMO/02: each even Thursday 14:35–16:15 VT204, M. Hloušek

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

Economics (programme ESF, M-EKT)
Economics (programme ESF, N-EKT)
Economics (programme ESF, N-MA)
Mathematical and Statistical Methods in Economics (programme ESF, N-KME)
Mathematics - Economics (programme PřF, N-AM)

Course objectives

Syllabus

National Accounts, Solow growth model
Neoclassical growth model (inter- and intratemporal choice, equilibrium and the welfare theorems)
Modelling of uncertainty (uncertainty and expected utility, Markov processes)
Neoclassical growth model and dynamic programming (sequential methods, recursive methods)
Stochastic neoclassical growth model (uncertainty and decision making)
Quantitative business cycle analysis, Calibration
Cost of business cycles
Business cycle model with divisible labor supply
Business cycle model with inidivisible labor supply
Overlapping generations model
New Keynesian model

Literature

required literature

MCCANDLESS, George T. The ABCs of RBCs : an introduction to dynamic macroeconomic models. Cambridge, Mass.: Harvard University Press, 2008, xiv, 421. ISBN 9780674028142. info
Williamson, S. Notes on Macroeconomic Theory, http://www.econ.yale.edu/smith/econ510a/notes99.pdf

recommended literature

Advanced macroeconomics. Edited by David Romer. 3rd ed. Boston: McGraw-Hill, 2006, xxii, 678. ISBN 0072877308. info
Krueger, D. Quantitative Macroeconomics, http://www.econ.upenn.edu/~dkrueger/teaching/QuantMacroBook.pdf

Teaching methods

lectures, reading of additional materials
seminars: theoretical exercises, computations in Matlab software, work with data
term paper

Assessment methods

Language of instruction

Czech

Further comments (probably available only in Czech)

Study Materials
The course is taught annually.
Information on course enrolment limitations: max. 20 cizích studentů; cvičení pouze pro studenty ESF

Information about innovation of course.

Teacher's information

http://www.econ.muni.cz/~hlousek/teaching/mamo.html

The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023, Autumn 2024.

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2012

Extent and Intensity

2/1/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

Ing. Miroslav Hloušek, Ph.D. (lecturer)
prof. Ing. Osvald Vašíček, CSc. (lecturer)

Guaranteed by

Timetable

Tue 14:35–16:15 P201

Timetable of Seminar Groups:

MPE_MAMO/01: each odd Thursday 14:35–16:15 VT206
MPE_MAMO/02: each even Thursday 14:35–16:15 VT206, M. Hloušek

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

Economics (programme ESF, M-EKT)
Economics (programme ESF, N-EKT)
Economics (programme ESF, N-MA)
Mathematical and Statistical Methods in Economics (programme ESF, N-KME)
Mathematics - Economics (programme PřF, N-AM)

Course objectives

At the end of the course students should be able to:
- give overview of National accounts
- understand Solowovu growth model
- simulate Markovské processes (compute the value of being at a given state)
- solve simple neoclassical growth model
-- derive optimality conditions of households and firms and to interepret them
-- define competitive equilibrium
- formulate the model recursively
-- determine state and control variables
-- formulate Bellman equation
-- derive first order conditions
-- derive optimality conditions
- analyticaly compute steady state of the model
- numerically compute value function by method of successive iteration
- compute decision rules
- calibrate structural parameters of simple growth model
- log-linearize model equation
- calculate moments in data
- determine behavior of variables during business cycle
- simulate model economy and compare model moments with moments from data
- apply these procedures in deterministic as well as in sochastic models
- analyze model with labor supply
- understand theory of balanced growth path
- stacionarize model by detrending of variables
- analyze model of overlapping generations and compare it to Ramsey model
- understand behavior of New Keynesian model in reaction to shocks
- compare models of Real business cycle and New Keynesian models

Syllabus

National Accounts, Solow growth model
Neoclassical growth model (inter- and intratemporal choice, equilibrium and the welfare theorems)
Modelling of uncertainty (uncertainty and expected utility, Markov processes)
Neoclassical growth model and dynamic programming (sequential methods, recursive methods)
Stochastic neoclassical growth model (uncertainty and decision making)
Quantitative business cycle analysis, Calibration
Cost of business cycles
Business cycle model with divisible labor supply
Business cycle model with inidivisible labor supply
Overlapping generations model
New Keynesian model

Literature

MCCANDLESS, George T. The ABCs of RBCs : an introduction to dynamic macroeconomic models. Cambridge, Mass.: Harvard University Press, 2008, xiv, 421. ISBN 9780674028142. info
Advanced macroeconomics. Edited by David Romer. 3rd ed. Boston: McGraw-Hill, 2006, xxii, 678. ISBN 0072877308. info
Krueger, D. Quantitative Macroeconomics, http://www.econ.upenn.edu/~dkrueger/teaching/QuantMacroBook.pdf
Williamson, S. Notes on Macroeconomic Theory, http://www.econ.yale.edu/smith/econ510a/notes99.pdf

Teaching methods

lectures, reading of additional materials
seminars: theoretical exercises, computations in Matlab software, work with data
term paper

Assessment methods

Term paper: group project (2 students), two parts (empirical, theoretical); every student presents solution of assignment at seminar
Examination: written, minimum is 60 %

Language of instruction

Czech

Further comments (probably available only in Czech)

Study Materials
The course is taught annually.
Information on course enrolment limitations: max. 20 cizích studentů; cvičení pouze pro studenty ESF

The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023, Autumn 2024.

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2011

Extent and Intensity

2/1/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

Ing. Miroslav Hloušek, Ph.D. (lecturer)
prof. Ing. Osvald Vašíček, CSc. (lecturer)

Guaranteed by

prof. Ing. Osvald Vašíček, CSc.
Department of Economics – Faculty of Economics and Administration
Contact Person: Lydie Pravdová

Timetable

Tue 14:35–16:15 P201

Timetable of Seminar Groups:

MPE_MAMO/01: each odd Thursday 14:35–16:15 VT206
MPE_MAMO/02: each even Thursday 14:35–16:15 VT206, M. Hloušek

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

Economics (programme ESF, M-EKT)
Economics (programme ESF, N-EKT)
Mathematical and Statistical Methods in Economics (programme ESF, N-KME)
Mathematics - Economics (programme PřF, N-AM)

Course objectives

At the end of the course students should be able to:
- give overview of National accounts
- understand Solowovu growth model
- simulate Markovské processes (compute the value of being at a given state)
- solve simple neoclassical growth model
-- derive optimality conditions of households and firms and to interepret them
-- define competitive equilibrium
- formulate the model recursively
-- determine state and control variables
-- formulate Bellman equation
-- derive first order conditions
-- derive optimality conditions
- analyticaly compute steady state of the model
- numerically compute value function by method of successive iteration
- compute decision rules
- calibrate structural parameters of simple growth model
- log-linearize model equation
- simulate model economy and compare model moments with moments from data
- apply these procedures in deterministic as well as in sochastic models
- analyze model with labor supply
- understand theory of balanced growth path
- use growth model for analysis of The Great Depression

Syllabus

National Accounts, Solow growth model
Modelling of uncertainty (uncertainty and expected utility, Markov processes)
Neoclassical growth model (inter- and intratemporal choice, equilibrium and the welfare theorems)
Neoclassical growth model and dynamic programming (sequential methods, recursive methods)
Stochastic neoclassical growth model (uncertainty and decision making)
Quantitative business cycle analysis, Calibration
Cost of business cycles
Business cycle model with divisible labor supply
Business cycle model with inidivisible labor supply
The Great depression form a neoclassical perspective
Overlapping generations model
(Pension system)

Literature

MCCANDLESS, George T. The ABCs of RBCs : an introduction to dynamic macroeconomic models. Cambridge, Mass.: Harvard University Press, 2008, xiv, 421. ISBN 9780674028142. info
Advanced macroeconomics. Edited by David Romer. 3rd ed. Boston: McGraw-Hill, 2006, xxii, 678. ISBN 0072877308. info
Krueger, D. Quantitative Macroeconomics, http://www.econ.upenn.edu/~dkrueger/teaching/QuantMacroBook.pdf
Williamson, S. Notes on Macroeconomic Theory, http://www.econ.yale.edu/smith/econ510a/notes99.pdf

Teaching methods

lectures, reading of additional materials
seminars: theoretical exercises, computations in Matlab software, work with data
term paper

Assessment methods

Term paper (group project (2 students), two parts (empirical, theoretical), compulsory before taking exam)
Examination: written, minimum is 60 %

Language of instruction

Czech

Further comments (probably available only in Czech)

Study Materials
The course is taught annually.
Information on course enrolment limitations: max. 20 cizích studentů; cvičení pouze pro studenty ESF

The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023, Autumn 2024.

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2010

Extent and Intensity

2/1/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

Ing. Miroslav Hloušek, Ph.D. (lecturer)
prof. Ing. Osvald Vašíček, CSc. (lecturer)

Guaranteed by

prof. Ing. Osvald Vašíček, CSc.
Department of Economics – Faculty of Economics and Administration
Contact Person: Lydie Pravdová

Timetable

Tue 14:35–16:15 P201

Timetable of Seminar Groups:

MPE_MAMO/01: each odd Thursday 14:35–16:15 VT206, M. Hloušek
MPE_MAMO/02: each even Thursday 14:35–16:15 VT206, M. Hloušek

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

Economics (programme ESF, M-EKT)
Economics (programme ESF, N-EKT)
Mathematical and Statistical Methods in Economics (programme ESF, N-KME)
Mathematics - Economics (programme PřF, N-AM)

Course objectives

At the end of the course students should be able to:
- give overview of National accounts
- understand Solowovu growth model
- simulate Markovské processes (compute the value of being at a given state)
- solve simple neoclassical growth model
-- derive optimality conditions of households and firms and to interepret them
-- define competitive equilibrium
- formulate the model recursively
-- determine state and control variables
-- formulate Bellman equation
-- derive first order conditions
-- derive optimality conditions
- analyticaly compute steady state of the model
- numerically compute value function by method of successive iteration
- compute decision rules
- calibrate structural parameters of simple growth model
- simulate model economy and compare model moments with moments from data
- apply these procedures in deterministic as well as in sochastic models
- analyze model with labor supply
- understand theory of balanced growth path
- use growth model for analysis of The Great Depression

Syllabus

National Accounts, Solow growth model
Modelling of uncertainty (uncertainty and expected utility, Markov processes)
Neoclassical growth model (inter- and intratemporal choice, equilibrium and the welfare theorems)
Neoclassical growth model and dynamic programming (sequential methods, recursive methods)
Stochastic neoclassical growth model (uncertainty and decision making)
Quantitative business cycle analysis, Calibration
Cost of business cycles
Business cycle model with divisible labor supply
Business cycle model with inidivisible labor supply
The Great depression form a neoclassical perspective
Overlapping generations model
(Pension system)

Literature

MCCANDLESS, George T. The ABCs of RBCs : an introduction to dynamic macroeconomic models. Cambridge, Mass.: Harvard University Press, 2008, xiv, 421. ISBN 9780674028142. info
Advanced macroeconomics. Edited by David Romer. 3rd ed. Boston: McGraw-Hill, 2006, xxii, 678. ISBN 0072877308. info
Williamson, S. Notes on Macroeconomic Theory, http://www.econ.yale.edu/smith/econ510a/notes99.pdf
Krueger, D. Quantitative Macroeconomics, http://www.econ.upenn.edu/~dkrueger/teaching/QuantMacroBook.pdf

Teaching methods

lectures, reading of additional materials
seminars: theoretical exercises, computations in Matlab software, work with data
term paper

Assessment methods

Term paper (individual paper, compulsory before taking exam)
Examination: written, minimum is 60 %

Language of instruction

Czech

Further comments (probably available only in Czech)

Study Materials
The course is taught annually.
Information on course enrolment limitations: max. 20 cizích studentů; cvičení pouze pro studenty ESF

The course is also listed under the following terms Autumn 2009, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023, Autumn 2024.

MPE_MAMO Macroeconomic modelling

Faculty of Economics and Administration
Autumn 2009

Extent and Intensity

2/1/0. 10 credit(s). Type of Completion: zk (examination).

Teacher(s)

Ing. Miroslav Hloušek, Ph.D. (lecturer)
prof. Ing. Osvald Vašíček, CSc. (lecturer)
Mgr. Martin Slanicay, Ph.D. (seminar tutor)

Guaranteed by

prof. Ing. Osvald Vašíček, CSc.
Department of Economics – Faculty of Economics and Administration
Contact Person: Lydie Pravdová

Timetable

Tue 14:35–16:15 P201

Timetable of Seminar Groups:

MPE_MAMO/1: Thu 14:35–16:15 VT206, M. Hloušek

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

Mathematical and Statistical Methods in Economics (programme ESF, N-KME)
Mathematics - Economics (programme PřF, N-AM)

Course objectives

At the end of the course students should be able to:
- give overview of National accounts
- understand Solowovu growth model
- simulate Markovské processes (compute the value of being at a given state)
- solve simple neoclassical growth model
-- derive optimality conditions of households and firms and to interepret them
-- define competitive equilibrium
- formulate the model recursively
-- determine state and control variables
-- formulate Bellman equation
-- derive first order conditions
-- derive optimality conditions
- analyticaly compute steady state of the model
- numerically compute value function by method of successive iteration
- compute decision rules
- calibrate structural parameters of simple growth model
- simulate model economy and compare model moments with moments from data
- apply these procedures in deterministic as well as in sochastic models
- analyze model with labor supply
- understand theory of balanced growth path
- use growth model for analysis of The Great Depression

Syllabus

National Accounts, Solow growth model
Modelling of uncertainty (uncertainty and expected utility, Markov processes)
Neoclassical growth model (inter- and intratemporal choice, equilibrium and the welfare theorems)
Neoclassical growth model and dynamic programming (sequential methods, recursive methods)
Stochastic neoclassical growth model (uncertainty and decision making)
Quantitative business cycle analysis, Calibration
Cost of business cycles
Business cycle model with divisible labor supply
Business cycle model with inidivisible labor supply
The Great depression form a neoclassical perspective
Overlapping generations model
(Pension system)

Literature

MCCANDLESS, George T. The ABCs of RBCs : an introduction to dynamic macroeconomic models. Cambridge, Mass.: Harvard University Press, 2008, xiv, 421. ISBN 9780674028142. info
Advanced macroeconomics. Edited by David Romer. 3rd ed. Boston: McGraw-Hill, 2006, xxii, 678. ISBN 0072877308. info
Williamson, S. Notes on Macroeconomic Theory, http://www.econ.yale.edu/smith/econ510a/notes99.pdf
Krueger, D. Quantitative Macroeconomics, http://www.econ.upenn.edu/~dkrueger/teaching/QuantMacroBook.pdf

Teaching methods

lectures, reading of additional materials
seminars: theoretical exercises, computations in Matlab software, work with data
term paper

Assessment methods

Term paper (individual paper, compulsory before taking exam)
Examination: written, minimum is 60 %

Language of instruction

Czech

Further comments (probably available only in Czech)

Study Materials
The course is taught annually.
Information on course enrolment limitations: max. 20 cizích studentů; cvičení pouze pro studenty ESF

The course is also listed under the following terms Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023, Autumn 2024.

Enrolment Statistics (recent)

Course Information

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

MPE_MAMO Macroeconomic modelling

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