Empirical analysis of macroeconomic time series data does not only require the description of dynamic properties but also the interpretation of the result in term of the structure of the macroeconomy. To provide such structural interpretation, in the course, we learn (1) the identification of the structural shocks in the vector autoregressive (VAR) model, (2) the use of impulse response function and the variance decomposition, and (3) local projection and the use of instumental variables. Motivated undergraduate students are also welcome.