Department of Theoretical Economics

Regular version of the site

109028, Moscow,
Pokrovsky Boulevard 11, Rooms: S1029, S1030
Phone: +7 (495) 772-95-90*27172, 27173, 27174

Department Administration

Department Head – Alexander Tarasov

PhD, Penn State University

Deputy Head – Svetlana Seregina

Department Manager – Disa Malbakhova

Senior Administrator – Zulikhan Ibragimbeili

Senior Administrator – Natalia Baibouzenko

Administrator – Marina Yudina

About the Department

The Department of Theoretical Economics brings together highly qualified specialists in various fields of economics, including micro and macroeconomics, monetary and financial theory, economic history and the history of economic thought. Our mission is to teach economic disciplines at HSE on the level of leading Western universities.

Publications

Book

Russian and Western Economic Thought: Mutual Influences and Transfer of Ideas

Springer, 2022.

Article

Assessing the Relationship between Corporate Social Responsibility and R&D Effectiveness of Firms
In press

Ochirova E., Miriakov M., Dranev Y. et al.

Global Business Review. 2024.

Book chapter

The Lack of Public Health Spending and Economic Growth in Russia: A Regional Aspect

Olga Demidova, Elena Kayasheva, Artem Demyanenko.

In bk.: Eurasian Business and Economics Perspectives: Proceedings of the 38th Eurasia Business and Economics Society Conference. Vol. 25. Springer Publishing Company, 2023. Ch. 13. P. 209-232.

Working paper

The optimal design of elimination tournaments with a superstar

Tabashnikova D., Sandomirskaia M.

Economics. EC. Высшая школа экономики, 2023. No. 263.

All publications

Delivered by:: Department of Theoretical Economics

Type:: Mago-Lego

When:: 1, 2 module

Instructor

Mishin, Arsenii

Full Syllabus

Abstract

This course continues the sequence of macroeconomics courses for Master's students. It aims to deepen our understanding of modern tools used in the analysis of macroeconomic processes and policies. A challenge facing policymakers is how to evaluate the net effects of forces operating on different parts of the economy. Dynamic stochastic general equilibrium (DSGE) models are the leading tool for making such assessments in an open and transparent manner. DSGE models have also become the standard workhorse models for the analysis of aggregate fluctuations. The primary focus of this course will be on the analysis, solution, calibration, estimation, and extension of DSGE models. We will also emphasize computational methods and apply them to solve DSGE models.

Learning Objectives

To deepen understanding of modern tools for the analysis of macroeconomic processes.
To increase competitiveness of students in doing research where demand is rising for more rigorous work on studying macroeconomic processes.
To learn and practice quantitative methods which are actively used in modern macro research.

Expected Learning Outcomes

Critically evaluate the logic of DSGE modeling
Apply computer programs to the work with DSGE models.
Derive model's equations, compute the solution, perform model's calibration and estimation.
Learn how to introduce different changes into the basic RBC model and evaluate their effects on the main results.
Learn the theory and practice of parameter estimation in DSGE models using several examples and Dynare's estimation toolbox.
Learn some basic tools and apply them to the work with non-linear models.
Differentiate DSGE modeling with other approaches to macroeconomic modeling.

Course Contents

Overview of DSGE Models
Introduction to MATLAB and Dynare
The Methodology of DSGE Analysis: RBC Example
Extensions of the Basic RBC Model
Estimation of DSGE Models
Introduction to Non-linear Models

Assessment Elements

Home Assignments
Class Participation
Presentation
Report

Interim Assessment

2022/2023 2nd module
0.1 * Class Participation + 0.4 * Report + 0.3 * Home Assignments + 0.2 * Presentation

Bibliography

Recommended Core Bibliography

Macroeconomic theory : a dynamic general equilibrium approach, Wickens, M., 2008
Methods for applied macroeconomic research, Canova, F., 2007
Structural macroeconometrics, DeJong, D. N., 2007
The ABCs of RBCs : an introduction to dynamic macroeconomic models, McCandless, G., 2008
Wickens, M. (2008). Macroeconomic Theory : A Dynamic General Equilibrium Approach. Princeton: Princeton University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=350058

Recommended Additional Bibliography

Bayesian estimation of DSGE models, Herbst, E. P., 2016
Kenneth L. Judd. (1998). Numerical Methods in Economics. The MIT Press.
Ljungqvist, L., & Sargent, T. J. (2012). Recursive Macroeconomic Theory (Vol. 3rd ed). Cambridge, Mass: The MIT Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=550665
Numerical methods in economics, Judd, K. L., 1998

Dynamic Stochastic General Equilibrium Models