(无)

This is a two-part course for Ph.D. students. In the first part,we introduce the basic framework of dynamic stochastic general equilibrium (DSGE) models, the primary tools for modern macroeconomic analysis. We examine a few applications of the DSGE framework for understanding economic growth, business cycles, and the role of fiscal and monetary policy. The second part of the course consists of a few topics on financial frictions in macroeconomic models. A few selected papers will be presented. The topics include financial accelerators, collateral constraints, asset price bubbles, housing market, and implications of financial for investment, unemployment, and inflation.