Dynamic Stochastic General Equilibrium Modeling

ECON 624 | Modeling Macroeconomics (MoMa)

Modern macroeconomic modeling is an art. And math... and code. Lots of code.

Course materials for ECON 624 at Johns Hopkins University.

This course offers a rigorous introduction to modern macroeconomic theory, building dynamic models from first principles through the intertemporal optimization problems of households and firms. We cover the foundations of consumption theory, asset pricing, investment, and economic growth, culminating in Dynamic Stochastic General Equilibrium (DSGE) frameworks for understanding business cycles and policy effects.

The course emphasizes both analytical and computational methods, with extensive use of mathematical derivations complemented by numerical analysis using Python.

Getting Started¶

1. Clone the repository¶

git clone https://github.com/jhu-econ/moma.git
cd moma

2. Install uv¶

Follow the instructions at docs.astral.sh/uv, or:

# macOS/Linux
curl -LsSf https://astral.sh/uv/install.sh | sh

# Windows (PowerShell)
powershell -ExecutionPolicy ByPass -c "irm https://astral.sh/uv/install.ps1 | iex"

3. Install dependencies¶

uv sync

4. Preview the site¶

uv run myst start

5. Run notebooks interactively¶

uv run jupyter lab

Then right-click any .md file and select Open With > Notebook.

For slides, see Slides for Quarto installation.

Topics¶

Consumption theory and dynamic optimization
Asset pricing
Investment
Economic growth
DSGE models and business cycles

Author¶

Alan Lujan

Program Coordinator

Krieger School of Arts and Sciences

Johns Hopkins University

License¶

This work is licensed under CC-BY-4.0.