Yes we can! Teaching DSGE models to undergraduate students

Mario Solis-Garcia

MPRA Paper from University Library of Munich, Germany

Abstract: Dynamic stochastic general equilibrium (DSGE) models have become the workhorse of modern macroeconomics and the standard way to communicate ideas among applied macroeconomists. Undergraduate students, however, often remain unaware of their existence. The lack of specialized knowledge can hurt them if they decide to attend graduate school. Indeed, many first-year PhD students discover that the material they are currently learning differs significantly from what they mastered in college. But this can change. In this essay, I describe how to teach a full-fledged macroeconomics course where DSGE models take center stage. I discuss how to arrange such a course within a one-semester time frame, detail the main components of instruction, and finish with some thoughts based on my teaching experience at Macalester College.

Keywords: DSGE models; Bayesian estimation; undergraduate education; advanced macroe- conomics (search for similar items in EconPapers)
JEL-codes: A22 B41 E30 E60 (search for similar items in EconPapers)
Date: 2017-09-21
New Economics Papers: this item is included in nep-dge, nep-edu, nep-hpe and nep-mac
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