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Advanced Macro - Module I - LUISS PhD
Advanced Macro - Module I - LUISS PhD
Fall 2026
Fall 2026
Outline
Outline
The course is an introduction to modern macroeconomics analysis based on first principles: utility maximization, asset pricing and competitive equilibrium theory. The first part of the course focuses on optimal consumption, savings and asset accumulation from the individual point of view. We introduce the notions of inter-temporal budget constraints, Euler equations, consumption smoothing over time and states, risk aversion, precautionary saving and asset pricing. The second part focuses on competitive equilibria in economies with a finite number of infinitely lived households and in overlapping generations.
Slides:
Slides:
Macroeconomic Analysis - LUISS
Macroeconomic Analysis - LUISS
Spring 2022
Spring 2022
Outline
Outline
The course is an introduction to modern macroeconomics analysis based on first principles: planning optima, utility maximization, asset pricing and competitive equilibrium theory. The first part of the course focuses on dynamic efficiency and optimal growth with capital accumulation (the Ramsey Problem). The second part on optimal consumption, savings and asset accumulation from the individual point of view. We introduce the notions of inter-temporal budget constraints, Euler equations, consumption smoothing over time and states, risk aversion, precautionary saving and asset pricing. The third part of the course is devoted to the equilibrium restrictions on consumption and asset accumulation in competitive economies under two alternative frameworks: a finite number of infinitely lived individuals and overlapping generations. We will establish conditions under which an equilibrium configuration implies consumption smoothing and risk sharing and examples in which these properties may fail.
Teaching Material
Teaching Material
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