Short Course on Macroeconomics under Imperfect Knowledge Given at DUFE

 

August 24, 2019

 

 The short course on Macroeconomics under Imperfect Knowledge was given by Dr. Qingyuan Du on August 19-21, 2019 at the Institute for Advanced Economic Research (IAER), Dongbei University of Finance and Economics (DUFE). It was a six-session course. Nearly 30 graduate students and faculty members of DUFE attended. Professor Yingfei Qi, Executive Director of IAER, Dean of School of Economics, DUFE, introduced Dr. Du before the course began on August 19.


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Dr. Qingyuan Du is currently a lecturer at the Department of Economics, Monash University. He obtained PhD from Columbia University in 2011. His main research fields are international economics, macroeconomics and Chinese economy.


On August 19, Dr. Du briefly introduced expectation theory, including myopic expectations, adaptive expectations, and rational expectations. Dr. Du shared techniques of learning models on August 20. On August 21, he elaborated the applications of learning models in both business cycle models and New Keynesian models.


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In this three-day short course, learning was introduced into standard DSGE models. How imperfect knowledge may affect macroeconomic dynamics and the choices by policy makers were also presented. The participants knew more about the theory of macroeconomics under imperfect knowledge through the introduction from Dr. Qingyuan Du, as well as the communication and discussion with him. Dr. Du also gave the students advices on their working papers after class.