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Econ520 - Advanced Macroeconomic Theory

Spring 2024 - Prof. Lutz Hendricks


  • Office hours changed from Wed to Thu 10-11am.

  • Syllabus

  • TA: Pablo Picardo

  • Final exam:

    • May 2. See Final exam schedule.
    • You will have 3 hours, but I expect that you will need less time than that.
    • The exam will focus on material covered since the midterm. Details TBA. However, since the material is cumulative (new models build on previous ones), some material from before the midterm will inevitably be needed for the final. For example, the IS/LM model underlies the AD curve.
    • Material from the last class will not be on the exam.
  • Midterm exam:
    • Material covered: up to Phillips Curve (excluding material from the class before the midterm).
  • Important: students who do not attend the first week of classes will be dropped from the course. This is department policy. Please contact me if you need an accomodation.
  • Slides will be updated as the course progresses.
  • Tips for taking exams

Annotated slides

By popular demand, I will post the annotated slides below.

Topic Section 1 Section 2
IS/LM equilibrium S1 S2
Labor market S1 S2
Labor market with frictions S1 S2
AS AD model S1 S2
AS AD applications S1 S2
Phillips curve S1 S2
Phillips curve applications S1 S2
Government debt S1 S2
Trade deficits S1 S2
Open economy basics S1 S2
AS AD fixed exchange rates S1 S2
AS AD floating exchange rates S1 S2
Choice of regime S1 S2
Costs and benefits of trade S1 S2
Institutions S1 S2

Schedule of Classes

Short Run

Medium Run

Open Economy | Assignment 2 due

Long-run Growth

How to Study for This Class

Much of our time will be spent on analyzing models. There is only one way to learn how to do this: solve lots of practice problems. The exams from previous years offer a good selection of such problems.

If you feel that you are falling behind or if you have trouble with the practice problems, come to my office hours (listed on my web page).

You should also read the textbook sections corresponding to the material we study in class. Additional reading material is listed at the end of the slides.


You can help improve this course by letting me know what you like and what you don't like. Drop me an e-mail or come to my office. Feel free to suggest topics you would like to discuss in class.

Past exams

(material in early years differs substantially from current year):