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Welcome to the 2013 web site of the course "Monetary Economics: Macro Aspects," offered at the Master's Programme at Department of Economics, University of Copenhagen. On this site you will find a host of relevant information, and the page will be regularly updated. You should therefore visit this site at least twice a week to stay up to date.

 

Limited use of Absalon

As I firmly believe in openness in education and research, I do not want to run a course with a web site hidden for the general public. So this site, and not the Absalon site, will be the official certified web-resource for the course. The only function of Absalon in this course, will be for collecting e-mail adresses (in case I need to send you important information quickly), and running evaluations. Otherwise, in terms of academic contents, this is the place to be.

Welcome! I hope you will enjoy the course!

 

Breaking News

(Note, a collection of old "Breaking News" is available)

 

July 1

The grades should be on the way.
Here are the suggested answers to the exam:

Have a nice summer!

June 10

Observant students have questioned the suggested answers to the 2008 August reexam. With good cause. I will not try to excuse anything, but the answers were corrected at some point, but in the official system they are not. The upshot is: In QUESTION 3 (iv), you are asked about the effects of different monetary policies on investment and real moneyt holdings. The answer relating to money holdings is wrong (and pertains to the MIU model). Higher inflation and nominal interest rates, do NOT lower money holdings in (this version of) the CIA model, where ct = mt in equilibrium. And since ct is unchanged, so is real money holdings!

 

June 9

Minor mistake in May 14 slides acknowledged in "typos" document.

 

May 16

The final curriculum. (Note also that the working schedule has been updated to tell the story of the course ex post.)
 

May 16

My advise about the exam from May 14.

 

May 16

The slides from May 14 have been posted (note that the comments are included, which correct two typos).

 

May 5

I have uploaded the answers to the MakOk3 2010/11 exam set, from which we used a question Thursday, May 2. I have also upoaded the exam set from this Winter along with suggested answers. All of this can be found in the notes section.

 

April 29

We have the first entry in the F.A.Q. section! A question about dynamic programming and the New-Keynesian model is covered. Don't miss it!

 

April 10

A paper on the solution of model of the excercises Tuesday, April 9 has been posted. It also features solutions for the nominal interest rate, and a general discussion about the economics of the solutions as well as the model's place in the history of economic thought. The note is curriculum.

 

March 26

The internal evaluation. Thanks a lot for all of your comments. I am very happy to see that there are no systematic complaints (please contact me if you disagree, or would like an answer to your specific question(s)). Of course, some wants more of something and less of other things, while others have it the opposite way round. There is just no accounting for taste, I guess. However, I will try to write more on the board and clearer on the slides.