Advanced Studies Program
Real Business Cycles and Quantitative Methods – Sergio de Ferra (Oxford)
Course Description:
This course is the first course part of the core Macroeconomics sequence of the Kiel ASP Doctoral Program. It will comprise the following 6 topics.
- Introduction to the Stochastic Growth Model
- Dynamic Programming and Value Function Iteration
- Solution Methods in Macroeconomics – Perturbation
- The Real Business Cycle (RBC) Model
- RBC Extensions and Improvements
- Business Cycle Accounting (Chari – Kehoe – McGrattan, Econometrica)
During the course, the students will be asked to complete some assignments and attend tutorial classes in the afternoon.
The exam will consist of a closed-book test, with exercises requiring students to apply key concepts learned in the course and to discuss the relevant theory. The date of the examination is expected to take place in November 2025 (tba).
The lecture slides will be comprehensive and will constitute the necessary reading material. Further useful resources are the following textbooks
- “Recursive Macroeconomic Theory” by Ljungqvist and Sargent
- “Recursive Methods in Economic Dynamics” by Stokey and Lucas
Teacher
Sergio de Ferra (Oxford)
Sergio de Ferra is Associate Professor of Economics at the University of Oxford and Lecturer at Brasenose College. Previously, he was Assistant Professor at Stockholm University. He was a visiting scholar at the Foundation of the French Central Bank. He completed his Ph.D. at the London School of Economics. His research focuses on international macroeconomics.
