Monetary Economics: Macroeconomic Fluctuations and Monetary Policy

Dozent/in	Dr. Marcel Savioz
Veranstaltungsart	Vorlesung
Code	FS231118
Semester	Frühjahrssemester 2023
Durchführender Fachbereich	Wirtschaftswissenschaften
Studienstufe	Bachelor Master
Termin/e	Mo, 27.02.2023, 14:15 - 16:00 Uhr, HS 9 Mo, 06.03.2023, 14:15 - 16:00 Uhr, 3.A05 Mo, 13.03.2023, 14:15 - 16:00 Uhr, 3.A05 Mo, 20.03.2023, 14:15 - 16:00 Uhr, 3.A05 Mo, 27.03.2023, 14:15 - 16:00 Uhr, 3.A05 Mo, 03.04.2023, 14:15 - 16:00 Uhr, 3.A05 Mo, 17.04.2023, 14:15 - 16:00 Uhr, 3.A05 Mo, 24.04.2023, 14:15 - 16:00 Uhr, 3.A05 Mo, 01.05.2023, 14:15 - 16:00 Uhr, 3.A05 Mo, 08.05.2023, 14:15 - 16:00 Uhr, HS 2 Mo, 15.05.2023, 14:15 - 16:00 Uhr, 3.A05 Mo, 22.05.2023, 14:15 - 16:00 Uhr, 3.A05 Mo, 05.06.2023, 14:15 - 16:15 Uhr, HS 5 (Prüfung)
Umfang	2 Semesterwochenstunden
Turnus	weekly
Inhalt	The lecture deals with business cycle theory and monetary stabilization policy. First, we examine macroeconomic theories that point to real disturbances, such as technology shocks, as the main source of fluctuations in economic activity (´real business cycle models´). Second, we are learning models in which monetary disturbances, such as a change in interest rates, are also a source of economic fluctuations. Nominal rigidities or imperfect-information explain why monetary disturbances can have such real effects. In a third step, we analyze the consequences of real and monetary disturbances in the framework of ´dynamic stochastic general equilibrium´ models (DSGE). We will examine monetary policy (e.g., ´optimal monetary policy´) and ´unconventional monetary policy´ (when the short-term interest rate reaches a lower limit). Finally, we will study the causes and remedies to financial crises, high inflation and hyperinflation. We will also touch on various current monetary policy issues.
Lernziele	The objective is to learn the different models through verbal, graphical and formal means while successively developing the "tools of the trade" of modern macroeconomics.
Voraussetzungen	Prerequisites: Students with a Bachelor degree or Bachelor’s students in the 6th semester with a specific interest in the subject.
Sprache	Englisch
Anmeldung	To attend the course / exercise, registration via e-learning platform OLAT is required. Registration is possible from 6 February to 3 March 2023. The students themselves are responsible for checking the creditability of the course to their course of study. Direct link to OLAT course: https://lms.uzh.ch/url/repositoryentry/17335386582
Prüfung	***IMPORTANT*** In order to acquire credits, resp. to take the examination, registration via the Uni Portal within the examination registration period is ESSENTIALLY REQUIRED. Further information on registration: www.unilu.ch/wf/pruefungen
Abschlussform / Credits	Written exam / 3 Credits
Hörer-/innen	Ja
Kontakt	marcel.savioz@bluewin.ch
Literatur	David Romer, Advanced Macroeconomics, Fifth Edition, McGraw-Hill 2019