Courses

This advanced seminar explores the macroeconomic dimensions of climate change, with a focus on long-term growth, policy design, and risk assessment. Students will engage with cutting-edge research to learn how to formulate, analyze, and draw policy insights from climate-related macroeconomic problems. The course emphasizes applied macroeconomic modeling and the use of integrated assessment models (IAMs) to evaluate the economic impacts of climate change, carbon pricing, and mitigation strategies under uncertainty.

This course covers modern methods of estimation and inference in econometrics. Topics include maximum likelihood and pseudo-maximum likelihood estimation, the (generalized) method of moments, instrumental variables, simulation-based methods (simulated likelihood and method of simulated moments, bootstrap), non- and semiparametric estimation, and an introduction to machine learning with a focus on Lasso and Ridge regression. The course gives students the theoretical background for further courses in econometrics and for empirical research. Tutorials combine theoretical exercises with empirical applications in R.Prerequisites: introductory econometrics, basic probability theory and linear algebra.

Tentative Outline

1. Introduction
2. Maximum Likelihood and Pseudo-Maximum Likelihood
3. Method of Moments and GMM
4. Instrumental Variables
5. Simulation-Based Methods
6. Non- and Semiparametric Estimation
7. Machine Learning Basics: Lasso and Ridge Regression

Literature

• Cameron, A.C. and Trivedi, P.K. (2005): Microeconometrics: Methods and Applications. Cambridge: Cambridge University Press.
• Hansen, B.E. (2022): Econometrics. Princeton: Princeton University Press. (A free manuscript version is available at www.ssc.wisc.edu/~bhansen/econometrics.)
• Hastie, T., Tibshirani, R. and Friedman, J. (2009): The Elements of Statistical Learning, 2nd ed. New York: Springer.
• Wooldridge, J.M. (2010): Econometric Analysis of Cross Section and Panel Data, 2nd ed. Cambridge, MA: MIT Press.

Examenskurs VWL I: Geldpolitik, Mikro- & Makroökonomik

Der Examenskurs VWL I wird im WS 2026/27 ausnahmsweise bereits vor dem offiziellen Vorlesungsbeginn des Wintersemesters stattfinden.

Folgende Termine sind geplant:

Die angegebenen Zeiten verstehen sich als s.t.-Angaben.

Eine Anmeldung zum Kurs ist nicht erforderlich. Bitte beachten Sie, dass die Präsenzveranstaltungen ausschließlich vor Ort stattfinden und nicht gestreamt werden.

Alle Materialien zum Kurs finden Sie im Moodle-Kurs. Einschreibeschlüssel: VWL1!