Advanced Macroeconomics

Dates. TBA. Objective. The objective of the course is to introduce the modeling of heterogeneous agents economies (heterogeneity across firms and households) and the modeling of frictions on credit, labor market and housing markets. The student will be familiarized with the modern quanti-tative techniques used in macroeconomics and will learn about important research questions in macroeconomics. Requirements. The course requires some basic knowledge of: (1) dynamic programming, (2) measure theory, and (3) Markov chains. There are several references to refresh the basics of dynamic programming: a simple one is Ljungqvist and Sargent (2004, chapter 3) but the most complete source is Stokey, Lucas, and Prescott (1989). Its first chapter is a very easy help. For measure theory you can check Stokey, Lucas, and Prescott (1989, chapter 7) For Markov chains, a good reference is Ljungqvist and Sargent (2004, chapter 2). A very comprehensive treatment can be found in Stokey, Lucas, and Prescott (1989, chapter 8)