Macroeconometrics

Decision making in central banks, consulting firms, and other institutions relies on advanced empirical analyses of economic data. This subject provides a cutting-edge econometric methodology for empirical macroeconomic research. The focus is on modelling unit-root nonstationary processes that describe many economic time series. Applications of these econometric techniques include forecasting and nowcasting macroeconomic variables including using big data, estimating the effects of monetary policy, as well as modelling trend inflation. Topics in climate change include forecasting CO2 emissions for the 21st century. The focus is on the development of programming skills that allow for performing rigorous applied macroeconomic research in R. This subject also provides students with the experience of carrying out a research-based project on a specific topic in applied econometrics.