The Department of Economics, Faculty of Social Sciences, University of Copenhagen (UCPH), invites candidates for a postdoctoral position in Macroeconomics with Deep Reinforcement Learning from September 2024.

The position is for 2 years.

Introduction
We invite applications for a two-year fully funded Postdoc position (with no teaching obligations) at the Department of Economics, UCPH, in connection with the project “Modelling Economic Agents as Deep Reinforcement Learners”.

The standard approach in economics is to assume economic agents behave as if they perfectly solve a mathematical optimization problem derived directly from the environment the agents are assumed to live in and the objectives they are assumed to aim for. Even for pure technical reasons the assumption of perfect problem solving is problematic because solving the full model then requires solving the optimization problems each agent face. This becomes a central computational bottleneck for model builders, and implies that only rather simple environments are considered. The overarching hypothesis of the project is that modelling economic agents as imperfect problem solvers is the way forward to break the bottleneck.

We are looking for an excellent candidate with a strong background in quantitative macroeconomics in particular and computational economics in general. We expect candidates to have recently completed, or be close to completing, their doctoral studies in one of the topics indicated above. The Postdoc position is part of a larger project financed by a Sapere Aude grant from the Independent Research Fund Denmark. The principal investigator is Jeppe Druedahl, and a PhD student has recently started on the project.

The project is divided into two work packages. In the theoretical work package, the starting point is small models, which can be solved perfectly, and where it is investigated how assuming deep reinforcement learning implies behavior, which is different from omnipotent rational behavior both quantitatively in terms of a loss in payoff/utility, and qualitatively in terms of changes in behavioral patterns. Later larger models, which can no longer be solved with the standard approach, will be used to further map out the connection between the assumptions on the learning algorithm used, and the implied behavior of the economic agent. In the second empirical work package, it is the plan to combine evidence from Danish register data, survey data, and experimental data from an online life-cycle consumption-saving game, to empirically test whether economic agents can be modeled as if they are deep reinforcement learners.

The Postdoc is expected to contribute to joint projects with other team members, but will also have ample space for independent work. Further information about the research project can be found here:

https://www.economics.ku.dk/research/externally-funded-research_new/modelling-economic-agents-as-deep-reinforcement-learners/

Duties and Responsibilities
The primary responsibility of the Postdoc is to conduct research in quantitative macroeconomics and computational economics in general. The Postdoc will be expected to make contributions to the project’s overall research agenda by developing new computational techniques, testing their implications for economic behavior and analyzing how they fit empirical observations from Danish register data, surveys and online experiments.

A key aim of the Postdoc position, however, is also to help candidates develop and improve their independent research profile and serve as a stepping stone for a future position as Assistant Professor (or similar) at an international research institution. During the two years, the Postdoc will therefore also have significant time available to work independently on their other existing research projects, and to develop new projects of their own within the overall research agenda of the project.

Your Competencies and Opportunities
The candidate must have obtained a PhD degree in Economics or a closely related field before taking up the Postdoc position (employment is expected to begin on September 1, 2024, but this date can be negotiated). In addition, the following competences are viewed as a plus (but not a necessity):

• Previous experience working with advanced numerical dynamic programming.
• Previous experience working with machine learning and artificial intelligence algorithms, and deep (reinforcement) learning in particular
• Previous experience working with register, survey and/or experimental data

Candidates possessing these competences should make sure to highlight this in their application.

Strategy of the Faculty of the Social Sciences
The Department of Economics is part of the Faculty of the Social Sciences. The Faculty is a successful academic community that strives to put knowledge into action by:

• Engaging partners in the co-creation of knowledge, learning and social change.
• Empowering our students to become reflective and responsible citizens who have the vision, the knowledge and the competences to change society for the better.
• Energizing global, European and Danish communities of knowledge by innovating research methodologies and by research findings with impact

For more on the Faculty strategy, see: https://samf.ku.dk/fakultetet/strategi/. You can read the Department’s strategy here https://www.economics.ku.dk/department/reportsplans/M_l-_og_handleplan_OI_final.pdf

Terms of Employment

• Further information on qualification requirements as postdoc can be found in the Memorandum on Job Structure for Academic Staff at Danish Universities 2019 here: https://employment.ku.dk/faculty/criteria-for-recognising-merit/dokumenter/Ministerial_Order_no._1443_of_11_December_2019_on_Job_Structure_for_Academic_Staff_at_Universities.pdf
• Terms of appointment and salary is in accordance with the Danish Confederation of Professional Associations (Akademikerne).
• The salary range starts at DKK 36,400 per month + a 17.1 % contribution to the pension scheme. It is possible to negotiate salary supplements on an annual basis.

The recruitment process
Further information on the recruitment process at University of Copenhagen can be found here:  https://employment.ku.dk/faculty/recruitment-process/

An Equal Opportunity Workplace
The University of Copenhagen is committed in its pursuit of academic excellence to equality of opportunity and to creating an inclusive working environment and therefore encourages all qualified candidates to apply, regardless of personal background, gender, sexual orientation, age, disability, ethnicity etc. For more on the diverse working place environment at the University and the University’s participation in the HRS4R HR Excellence in Research, see https://employment.ku.dk/working-at-ucph/eu-charter-for-researchers/

International applicant?
The University of Copenhagen offers a broad variety of services for international researchers and accompanying families, including support before and during your relocation and career counselling to expat partners. Please find more information about these services as well as information on entering and working in Denmark here: https://ism.ku.dk/

Contact information
Information about the recruitment process is available from HR, e-mail: hrsc@hrsc.ku.dk., please refer to ID number: 211-1632/23-2I #1.

Additional information about the position can be obtained from Jeppe Druedahl, e-mail: jeppe.druedahl@econ.ku.dk., phone +45 35 32 44 25.

How to apply
Submit a complete application at our online portal. Click on the “Apply now” icon at the bottom of the page to apply. The documents must be in Adobe PDF or Word. 

Your application must be written in English and include the following documents:

• Motivated application
• Curriculum vitae
• Diploma (PhD, master, and bachelor)
• Other relevant material

The closing date for applications is 23:59 CET 26th November 2023.

Applications or enclosures received thereafter will not be considered.

Part of the International Alliance of Research Universities (IARU), and among Europe’s top-ranking universities, the University of Copenhagen promotes research and teaching of the highest international standard. Rich in tradition and modern in outlook, the University gives students and staff the opportunity to cultivate their talent in an ambitious and informal environment. An effective organisation – with good working conditions and a collaborative work culture – creates the ideal framework for a successful academic career.