The OeNB Anniversary Visiting Professorships will invite Céline Poilly (Aix-Marseille School of Economics) as the Guest Professor 2024 for lectures on Uncertainty and Volatility in Macroeconomics.
The course is tailored for PhD students or advanced MA students and will be opened for the Research Masters and the PhD in Economics. If PhD students in other tracks are interested, please contact the respective Directorate of Studies for more information such as course credit availability.
- Aim of the course
Over the last years, uncertainty has become a major challenge that private and public decision-makers have to deal with. This course will give an overview of the recent developments in the macroeconomics of uncertainty.
We will first review the different empirical measures of economic uncertainty and examine its effects on macroeconomic outcomes. We will be particularly interested in the link between uncertainty and economic volatility. Then, we will discuss the theoretical mechanisms through which uncertainty affects individual decisions (precautionary behaviors, risk aversion, etc.) and the amplification mechanisms of uncertainty shocks.
This course is at Ph.D. and advanced M.Sc. level.
- Assessment
Students will present a research idea in class during the second block of the course that they will develop into a 4-5 page research proposal. Participation and presentation in class will account for 50% of the final grade, and the final research proposal for the remaining 50%.
- References
Students are required to read list of papers before the start of each class to participate actively in the discussion in class. Required readings will be made available at the start of the course.
- Proposed schedule
Monday, April 29th, afternoon (1h30)
Tuesday, April 30th, morning (1h30) & afternoon (1h30)
Wednesday, May 1st, morning (1h30) & afternoon (1h30)
Thursday, May 2nd, morning (1h30) & afternoon (1h30)
Friday, May 3rd, morning (1h30) & afternoon (1h30)
Tuesday, May 7rd, morning (1h30) & afternoon (1h30)
Wednesday, May 8rd, morning (1h30)
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- Public Lecture
Economic behaviors in an uncertain environment
30.04.2024 | 18:00
Austrian National Bank, Kassensaal
- Panel Discussion
Price stability, financial stability, green transition, and more: Is the ECB overextending itself?
27.05.2024 | 17:30
Skylounge, Faculty of Business, Economics and Statistics
Oskar-Morgenstern-Platz 1, 1090 Vienna
