Online Summer School on Macroeconomics and the Science and Art of DSGE Modelling (Foundation)

Key information

Start date: 12 September 2022

Attendance dates:

September 2022: 12, 13, 14, 15, 16

Time commitment: 5 days


Distance learning

Contact details:


Given the spread of the Coronavirus and the difficulty in air travel we have decided to deliver the Summer school in an online format. This decision has been made to ensure the safety of our participants, our colleagues, and all those involved with the Summer School. The Summer Schools in 2020 and 2021 were also held online; they were very successful and enabled many participants to attend from all over the world without the need to travel. 

The course will be conducted using Zoom platform. The university and the lecturers have extensive experience with online teaching and have state-of-the-art systems to do so as well as being able to deliver highly interactive lectures. Though we will do our best to record all the sessions, we expect participants to attend them live to enable them to interact with lecturers and ask questions. 

This course provides instructions on the construction and estimation of DSGE models for a closed economy and their use for policy analysis. It is Dynare-based and is aimed at PhD students, postgraduate students aiming to proceed to a PhD, early researchers and research staff from central banks, ministries and the private sector.

Participants should have some prior experience with macroeconomic models and dynamic optimisation, and a basic knowledge of Matlab. No prior knowledge of Dynare is necessary.

The course will cover the theoretical aspects of the techniques and is very hands-on as you will have carefully implemented exercises where you need to modify parts of the codes. This will be done in the lectures, both in groups and with the help of the instructors. You will receive solutions to all exercises and will be provided with computer codes that you may then use in your own research.


The lectures will take place via Zoom, and participants will need to have installed Matlab in their computers for some of the practical sessions (download a 30-day free trial), as well as Dynare.

Course content

The course will explore the basics of Dynare programming, the construction of Bayesian estimation of DSGE macroeconomic models in Dynare, and their use for optimal policy analysis. You will cover the underlying theory proceeding in steps from the real-business cycle theory (RBC) model through to a medium-sized New Keynesian (NK) model.

Learning and teaching methods

You will be sent computer codes, lecture notes, and slides ahead of the course and will also receive direct assistance before the Summer School starts in order to set up all the systems ahead of the online events.

There will be opportunities to discuss your projects and research ideas during virtual coffee breaks. After the Summer School, lecturers will be available to answer questions and discuss your projects.

Course contributors

Cristiano Cantore profile image

Dr Cristiano Cantore

Reader in Economics

Placeholder image for external profile

Dr Szabolcs Deak

Course contributor

Hyungseok Joo profile image

Dr Hyungseok Joo

Lecturer in Economics

Luciano Rispoli profile image

Dr Luciano Rispoli

Teaching Fellow

Kirill Shakhnov profile image

Dr Kirill Shakhnov

Lecturer in Economics

Alessio Volpicella profile image

Dr Alessio Volpicella

Lecturer in Economics

Entry requirements

Applicants must have:

  • A background in macroeconomics with some knowledge of macro-modelling and dynamic optimisation
  • A basic knowledge of Matlab programming (see an overview of the Matlab features our participants are expected to know)
  • A working knowledge of English
  • A basic knowledge of the RBC and NK Model.

Fees and funding

Price per person:


Non-academic participants





What these fees include

Participants requiring additional financial assistance can indicate so in their application. Limited funding opportunities are available.


The following concessions are available:

  • 10% discount for participants who register by July 15
  • 10% discount for participants who have attended a previous course with the Centre for International Macroeconomic Studies
  • 20% discount for participants from institutions in developing countries.

Multiple discounts are not applicable.

How to apply

Deadline for applications is 29 August 2022, but we encourage you to apply as soon as possible as the places will be allocated using a rolling selection process.

If your application is successful, you will receive an email offering you a place and you will have two weeks to pay the full fees balance to secure this.

Apply now

Terms and conditions

When you accept an offer of a place at the University of Surrey, you are agreeing to comply with our policies and regulations and our terms and conditions. You are also confirming you have read and understood the University's prospective student privacy notice.

Further details of our terms and conditions will follow.


This online prospectus has been prepared and published in advance of the commencement of the course. The University of Surrey has used its reasonable efforts to ensure that the information is accurate at the time of publishing, but changes (for example to course content or additional costs) may occur given the interval between publishing and commencement of the course. It is therefore very important to check this website for any updates before you apply for a course with us. Read more.