Recursive Methods and Simulations in Macroeconomics

Recursive methods and their numerical application have become the most important solution methods in modern macroeconomics. The areas of their application today encompass almost all areas of macroeconomics, for example growth theory, monetary economics, social insurance, fiscal policy. Despite their widespread use in research, they have not yet become part of the standard curriculum at European economic faculties. The course aims at closing this gap. It introduces both theory and simulation of recursive methods.

Topic

• Numerical Basis: Optimization and Non-Linear Equations
• Theory and numerical implementation of the Bellman equation
• Projection methods for the Euler equation

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