Università degli Studi di Pavia - Faculty of Economics

The course will analyse the basics of modern dynamic macroeconomic theory. In particular:

I Consumption
Dynamic theory of consumption
Consumption-Based Asset Pricing (CCAPM)

II Investment
Dynamic Investment theory and adjustment costs
Investment theory under uncertainty
Irreversibility

III Growth
Neoclassical model of growth
Extensions of the basic model
Endogenous growth theory

IV Overlapping generations models and welfare state
Overlapping generations models
Welfare state and social security
Ricardian equivalence

V Real Business Cycle

III New-Keynesian models
Macro models of monopolistic competition
Why does money affect output? Price staggering models
The New Neo-Classical Synthesis