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Information
| Code | IEM1828 |
| Name | Dynamic Stochastic General Equilibrium Models II |
| Term | 2022-2023 Academic Year |
| Semester | . Semester |
| Duration (T+A) | 4-0 (T-A) (17 Week) |
| ECTS | 8 ECTS |
| National Credit | 4 National Credit |
| Teaching Language | Türkçe |
| Level | Doktora Dersi |
| Type | Normal |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | Prof. Dr. KENAN LOPCU |
Course Goal / Objective
Introducing a set of canonical Dynamic Stochastic General Equilibrium (DSGE) models which form the basis to understand a variety of macroeconomic policy issues and business cycle phenomena.
Course Content
Setting up, solving, simulating, evaluating, and estimating Dynamic Stochastic General Equilibrium models.
Course Precondition
At least two econometrics courses at the graduate level.
Resources
David N. DeJong and Chetan Dave (DD), Structural Macroeconometrics, Princeton University Press (2007).
Notes
John Geweke, Contemporary Bayesian Econometrics and Statistics Wiley, New York (2005)
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | Understands various macroeconomic policy issues and business cycle events within the framework of DSGE models. |
| LO02 | Setups Dynamic Stochastic General Equilibrium models. |
| LO03 | Solves Dynamic Stochastic General Equilibrium models. |
| LO04 | Sİmulates Dynamic Stochastic General Equilibrium models. |
| LO05 | Evaluates economically the results |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Identify an econometric problem and propose a new solution to it | 5 |
| PLO02 | Bilgi - Kuramsal, Olgusal | Develops new knowledge using current concepts in Econometrics, Statistics and Operations Research | 5 |
| PLO03 | Bilgi - Kuramsal, Olgusal | Explain for what purpose and how econometric methods are applied to other fields and disciplines | 4 |
| PLO04 | Beceriler - Bilişsel, Uygulamalı | Using her knowledge, brings original solutions to problems in Economics, Business Administration and other social sciences | 5 |
| PLO05 | Beceriler - Bilişsel, Uygulamalı | Creates a new model using mathematics, statistics and econometrics knowledge to solve the problem encountered | 4 |
| PLO06 | Beceriler - Bilişsel, Uygulamalı | Interprets the results obtained from the most appropriate method to predict the model | 5 |
| PLO07 | Beceriler - Bilişsel, Uygulamalı | Performs conceptual analysis to develop solutions to problems | 5 |
| PLO08 | Beceriler - Bilişsel, Uygulamalı | Collects data on purpose | 4 |
| PLO09 | Beceriler - Bilişsel, Uygulamalı | Synthesizes the information obtained by using different sources within the framework of academic rules in a field that does not research | 3 |
| PLO10 | Beceriler - Bilişsel, Uygulamalı | Presents analysis results conveniently | 5 |
| PLO11 | Beceriler - Bilişsel, Uygulamalı | Converts its findings into a master's thesis or a professional report in Turkish or a foreign language | |
| PLO12 | Beceriler - Bilişsel, Uygulamalı | It researches current approaches and methods to solve the problems it encounters and proposes new solutions | 5 |
| PLO13 | Beceriler - Bilişsel, Uygulamalı | Develops long-term plans and strategies using econometric and statistical methods | 4 |
| PLO14 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Performs self-study using knowledge of Econometrics, Statistics and Operations to solve a problem | 3 |
| PLO15 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Leads the team by taking responsibility | |
| PLO16 | Yetkinlikler - Öğrenme Yetkinliği | Being aware of the necessity of lifelong learning, it constantly renews itself by following the current developments in the field of study | |
| PLO17 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Uses acquired knowledge in the field to determine the vision, aim, and goals for an organization/institution | |
| PLO18 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Uses a package program of Econometrics, Statistics, and Operation Research or writes a new code | 4 |
| PLO19 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Interprets the feelings, thoughts and behaviors of the related persons correctly/expresses himself/herself correctly in written and verbal form | |
| PLO20 | Yetkinlikler - Alana Özgü Yetkinlik | Applies social, scientific and professional ethical values | |
| PLO21 | Yetkinlikler - Alana Özgü Yetkinlik | Interprets data on economic and social events by following current issues |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | DSGE models, review | Reading Assignments | Öğretim Yöntemleri: Tartışma |
| 2 | Solving DSGE models | Reading Assignments | Öğretim Yöntemleri: Anlatım |
| 3 | Intorduction to Simulation DSGE models | Reading Assignments | Öğretim Yöntemleri: Anlatım |
| 4 | Simulating DSGE models | Reading Assignments | Öğretim Yöntemleri: Anlatım |
| 5 | Model Evaluation | Reading Assignments | Öğretim Yöntemleri: Anlatım, Tartışma |
| 6 | Inference | Reading Assignments | Öğretim Yöntemleri: Anlatım |
| 7 | An overview | Reading Assignments | Öğretim Yöntemleri: Tartışma |
| 8 | Midterm Exam | Ölçme Yöntemleri: Yazılı Sınav, Ödev |
|
| 9 | Technology Shocks | Reading Assignments | Öğretim Yöntemleri: Anlatım |
| 10 | Fiscal Shocks | Reading Assignments | Öğretim Yöntemleri: Anlatım |
| 11 | Estimating models with nominal and real frictions, | Reading Assignments | Öğretim Yöntemleri: Alıştırma ve Uygulama |
| 12 | Evaluating the models with nominal and real frictions, | Reading Assignments | Öğretim Yöntemleri: Tartışma |
| 13 | Investment Shocks | Reading Assignments | Öğretim Yöntemleri: Anlatım |
| 14 | Noise Shocks | Reading Assignments | Öğretim Yöntemleri: Anlatım |
| 15 | Belirsizlik Şokları | Reading Assignments | Öğretim Yöntemleri: Anlatım |
| 16 | Example solving | Reading Assignments | Öğretim Yöntemleri: Tartışma, Soru-Cevap |
| 17 | Term Exams | Ölçme Yöntemleri: Yazılı Sınav |
Student Workload - ECTS
| Works | Number | Time (Hour) | Workload (Hour) |
|---|---|---|---|
| Course Related Works | |||
| Class Time (Exam weeks are excluded) | 14 | 4 | 56 |
| Out of Class Study (Preliminary Work, Practice) | 14 | 8 | 112 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 2 | 4 | 8 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 12 | 12 |
| Final Exam | 1 | 24 | 24 |
| Total Workload (Hour) | 212 | ||
| Total Workload / 25 (h) | 8,48 | ||
| ECTS | 8 ECTS | ||