Most macroeconomic outcomes depend on people’s beliefs about the future. Different models of expectation formation will, as such, have different implications for macroeconomic dynamics. This short course aims to introduce you to the main methodological tools used in behavioural macroeconomics, while at the same time providing a survey of the main questions and answers given in the modern literature.

This course provides a comprehensive overview of the key concepts related to monetary policy and central banking and their significance in understanding the economy, including the Monetary Transmission Mechanism, the New Keynesian Model, Financial Frictions, Central Bank Design, and Central Bank Communication.

The second semester of a standard two-semester sequence is for those considering further work in management or economics. National economic performance; the problems of recession, unemployment, and inflation; money creation; government spending and taxation; economic policies for full employment and price stability; and international trade and payments.

This course provides a comprehensive analysis of the challenges faced by policymakers in dealing with international financial shocks, and the evidence on the dilemma vs. trilemma debate. It covers a range of topics including a model for international financial shock transmission, the Euro Area's current account imbalances and debt crisis, and the impact of capital flows on inequality.

This course teaches key methods for solving modern macroeconomic models, including those able to account for agent heterogeneity. Participants will obtain detailed theoretical knowledge of and hands-on experience with linearization techniques, non-linear solution methods and approaches for solving heterogeneous agent models with and without aggregate uncertainty.

Determination of aggregate income and employment. Analysis of fiscal and monetary policy. Inflation and income policy. Problems of the open economy.