Seminar Advanced Monetary Theory and Policy (Master) WS 2023/2024

Economic Implications of Extremely Long-Term Time Series:

Applications of the Chat GPT Technique

Selection of topics

1. Real Interest Rates since the 14th Century (Schmelzing)

2. From Poverty to Prosperity: The Development of Real GDP since 1800 (Maddison)

3. Development of Commodity Prices since 1850 (Jacks)

4. Stock Prices since 1880 (Shiller)


  • Each seminar participant has to choose one topic from the selection above. Credit points are granted for preparing a term paper and presenting the results in form of a power point presentation. Students are expected to rely on academic articles and to present the findings contained therein. Moreover, students are expected to use the Chat GPT technique and contrast the reliability of the arguments given the well-established economic literature.
  • Topics will be assigned to students on a first-come, first-served basis. Students should send an e-mail to with a shortlist of three preferred topics.
  • Each student has to prepare and submit a term paper comprising at least 15 pages. The term paper is supposed to contain a cover page, a table of contents, a reference list (bibliography) and – where applicable – an appendix. There are no style requirements, however, margins, font size, spacing and so forth should be chosen appropriately. Deadline for paper submission is January 8, 2024. Please, send a PDF-version to
  • Each student needs to prepare his/her own seminar paper and a power point presentation. The presentation is supposed to last about 20 minutes and should be send not later than January 8, 2024 to
  • The seminar will take place in the form of a block course on October 16, 2023 (kick-off-meeting) and January 15, 2024 (presentations) from 6:00 p.m. to 7:30 p.m. in room STA2, Am Stadtgraben 9.
  • The final grade is based on the term paper (80%) and on the presentation/participation during the seminar (20%). Please be aware that enrollment for the class should be carried out at the examination office (Prüfungsamt) for the early deadline of the winter term 2023/2024 (vorgezogener Termin). Please register for the class on Learnweb. You will find the enrollment key in due on our website.
  • 6 Credit points can be obtained for this class (Master, PO 2015). Course language is English only.
  • Topics will be supervised by Prof. Dr. Bohl. Students should send the outline and structure of the term paper before-hand via e-mail to so that the contents can be discussed.

Data Sources