Overview
- ECTS: 6
- Course Language: English
- Requirements: EWF required, Intermediate Econometrics recommended
- Recommended Semester: 5th Semester
- Core Elective Area: ECON1 (Macroeconomics)
- Topics of Interest: Macroeconomics (business cycle) and Math (linear algebra)
- Level of Effort per ECTS (appropriate, high, very high): high
Abstract
Brief Summary:
The course teaches you how to make macroeconomic forecasts like predicting the inflation rate or the unemployment rate. You will get insights on how the KOF actually works on a daily basis. However, a large part of the course is also mathematical groundwork in order to understand the key principles of modern forecasting.
Challenges / Good to know:
It is advantageous if you are familiar with statistics and linear algebra. But if you have understood “Mathematik 2” (linear algebra) and “Intermediate Econometrics” (or other statistics courses) you should be fine.
Pro / Contra
Lecture (Content, Structure, Learning Material):
Pro:
- Small class
- Lecturer is very competent
Contra:
- Course material can be dry
- Time intensive to understand difficult content
- There is no unitary script
Exercise (Relevance to the Lecture / Exam):
Pro:
- Intro to Time Series Analysis
- Use cases of matrices
- Good basis for Master studies
Contra:
- Use cases of matrices ;)
- TA sessions are much more difficult than the lecture
Effort for the exam / Tips
Effort per ECTS:
High, can depend on your level of effort in exercises
Weighting of the Exercises:
The basic concept of the exercises is important but you don't have to try to understand every derivation. Tip: When learning each exercise, try to ask yourself what is the important intuition and write down these key takeaways.
Materials:
- Exercises / Document with worked solutions
- Lecture slides / podcasts
Learning Strategy (Time Management):
You have to put in some time but don't try to understand everything down to the smallest detail. This will cost you too much time and is ultimately not necessary for the exam. Try to master the simple to medium difficult calculations / models and to be able to frame the basic concepts in a macroeconomic context. Don't lose touch with economic theory in all this technical stuff.
Placement in Curriculum
Which subjects build on this course:
n/a
Similar courses:
Macroeconomics II (DAS-DAD)
Other
Take it! it's worth it. Small class, motivated lecturer 😊