As a background for your master’s module “Advanced Macroeconomics”, this page provides some videos that are of an introductory nature. They have been compiled by My Phan, a MIEPP student. She completed her bachelor’s degree at a university other than JGU and found those videos especially helpful. This should help students that have not previously taken macroeconomic modules like this one, or simply did not take the undergrad module at the JGU. This page aims to guide you toward some relevant and accessible resources to build a solid foundation for “Advanced Macroeconomics”.

GDP and Economic Growth

Calculating nominal and real GDP, defining Economic Growth.

Causes of Economic Growth

Growth definition, where Growth comes from.

Introduction to the Solow Model of Economic Growth

Introducing Economic Models and the Production Function and its Inputs.

The Solow Model and the Steady-State

Capital Growth and understanding the Steady State in the Solow Model.

Ramsey-Growth Model: Introduction

Covering the distinguishment between the Solow- and Ramsey Model, his Set-Up (Household Preferences, Budget Constraint ect.) is different from the one in the lecture!

Business Cycles: Boom and Bust

Stages, Drivers of Cycles and possible ‘Solutions’ as in how Economists view Government Regulations

Introduction to Labor Markets

Demand and Supply Curves and how they depend on Wage, Marginal Product and Revenue, Wage as Factor Cost in Perfect Competition.

Unemployment

Defining the Unemployment Rate, Labor Force Definition, Creative Destruction and Types of Unemployment.

TheNatural Rate of Unemployment

(Note: Generally, this Channel is great for Macroeconomic undergrad basics, but the ones chosen are just those considered more relevant for the course). Unemployment in Equilibrium and where this comes from.

To help with the tutorial and exercises being familiar with maximization methods will be very helpful. Unfortunately, there is no suitable video explaining the Hamiltonian Utility Maximization, but I recommend you to take the lecture by Prof. Wälde into account and familiarize yourself with this method before attending the tutorials.

The Lagrangian