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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
Workshop 2A report: Public transport governance via contracting, collaboration, and hybrid organisational arrangements

Dementiev Andrei, Alexandersson G.

Research in Transportation Economics. 2024. Vol. 103. P. 101394.

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.

Dynamic Stochastic General Equilibrium Models

Academic Year
Instruction in English
ECTS credits
3 module


Course Syllabus


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

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

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.
  • Apply artificial intelligence tools to the work with DSGE models
Course Contents

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

Assessment Elements

  • non-blocking Home Assignments
  • non-blocking Class Participation
  • non-blocking Quizzes
  • non-blocking Presentation
    The list of papers will be given. Each student will choose one paper on a first come, first served basis and present it. Paper presentations will be 12-15 minutes in length.
  • non-blocking Final Test
Interim Assessment

Interim Assessment

  • 2023/2024 3rd module
    0.1 * Class Participation + 0.35 * Final Test + 0.25 * Home Assignments + 0.15 * Presentation + 0.15 * Quizzes


Recommended Core Bibliography

  • Dynamic macroeconomics, Alogoskoufis, G., 2019
  • 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