Yes we can! Teaching DSGE models to undergraduate students

Solis-Garcia, Mario (2017): Yes we can! Teaching DSGE models to undergraduate students.

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.

• Item Type: MPRA Paper
• Language: English
• Keywords: DSGE models, Bayesian estimation, undergraduate education, advanced macroe- conomics
• Subjects: A - General Economics and Teaching > A2 - Economic Education and Teaching of Economics > A22 - Undergraduate; B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology; E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E30 - General; E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook > E60 - General

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