Nova SBE PHD Summer School - Macroeconomics

Course essentials

• Course: Subjective Inflation Expectations: Measurement, Determinants, and Effects;
• Dates: June19-22, 2023 (afternoons);
• Instructor: Michael Weber, The University of Chicago Booth School of Business;
• Course ECTS: 3,5;
• Tuition fee: the tuition fee is of 450€ (early bird) or 650 € (regular);
• Application deadlines: early-bird deadline is March 15, and the regular deadline is April 15.
   

More Information

• Website with application link: http://bit.ly/3LrVEN7
• Brochure: http://bit.ly/3IWAWqr

Course contents
Expectations are central to all forward-looking decisions households make. Yet, interest in the measurement and determinants of subjective expectations waned following the rational expectations revolution. More recently, however, there has been growing attention to ways of eliciting and measuring the inflation expectations of consumers. Research has documented deviations from full information rational expectations including upward biases and cross-sectional dispersion as well as the crucial role that grocery and energy inflation play in shaping inflation expectations.

The course will first provide a methodological overview on eliciting expectations and discuss stylized facts about inflation expectations. It will move on to discuss the determinants of inflation expectations and how these expectations shape individuals’ consumption, savings, leverage and investment decisions. We will then study how central banks and governments can manage the expectations of households through policy interventions and communication. Finally, we will discuss the design of information provision and acquisition experiments based on the case of papers.

Eligibility
The course is open to PhD students (local and international), postgraduate, and professionals who wish to widen their knowledge on Subjective Inflation Expectations: Measurement, Determinants, and Effects. 

How to apply
You will be asked to upload your CV and - if you are enrolled in a PhD/Postgraduate program - an official letter/document issued from your home university stating you are a student. You will also need to provide a paragraph explaining why you wish to attend the PhD Summer School. Nova SBE alumni will need to upload their Master’s transcript when applying.

The PhD Summer School team will evaluate all complete applications received by March 15 and may make a first round of admission offers. A second round of offers is made after the application deadline.

Tuition Fees

Early Bird application: March 1 - March 15

• 450 €
• 200 € (Nova SBE Alumni)

Regular application: March 16 - April 15

• 650 € 
• 400 € (Nova SBE Alumni)

More Information