Econ520 - Advanced Macroeconomic Theory

Fall 2022 - Prof. Lutz Hendricks

Announcements

• Nov-3: Remember that the term paper is due Nov-15 (by midnight, if you wish to work that late).

  • One change of plans relative to the syllabus: there will be no feedback from other teams (it seem logistically too complicated to me).

• Oct-25: Economics Department Recruiting Fair on Nov-11, 10-12:30, Gardner Hall.

• Oct-19: Fixed the open economy IS/LM slides to make exchange rate notation consistent.

• Invitation to participate in panels on job opportunities for econ majors (Mon, Oct 17, 8:30pm)
• Syllabus
• Final exam:
  • Dec-6, noon. You will have 3 hours, but I expect that you will need less time than that.
  • Material covered: Everything, starting with open economy.

• Midterm exam:

  • Oct-6 (in class).
  • Material covered: up to (NOT including) trade deficits.

• Important: you must have passed Intermediate Macroeconomics to register for this course.

• 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

Schedule of Classes

Short Run

• Aug-16 (Tue): Introduction, IS-LM model (each of these links leads to the slides that were used in class)
• Aug-18 (Thu): IS/LM Equilibrium, PP (PP means "practice problems"; for your enjoyment; not to be handed in)
• Aug-23 (Tue): IS/LM Equilibrium (cont.)
• Aug-25 (Thu): IS/LM Monetary Policy

Medium Run

• Aug-30 (Tue): Labor market, PP
• Sep-1 (Thu): Labor market (continued)
• Sep-6 (Tue): Wellness day
• Sep-8 (Thu): The term paper: We discuss how to find topics and how to write. We discuss what makes a good topic.
• Sep-13 (Tue): AS-AD model, PP (covers Phillips Curve)
• Sep-15 (Thu): AS-AD model (continued)
• Sep-20 (Tue): AS-AD model (continued)
• Sep-22 (Thu): Inflation and unemployment
• Sep-27 (Tue): Inflation expectations and monetary policy, PP
• Sep-29 (Thu): Fiscal Deficits, PP

Open Economy

• Oct-4 (Tue): Trade deficits, PP
• Oct-6 (Thu): Midterm
• Oct-11 (Tue): Trade deficits (contd.)
• Oct-13 (Thu): IS-LM model, PP,
• Oct-18 (Tue): IS-LM floating exchange rate
• Oct-20 (Thu): Fall break
• Oct-25 (Tue): IS-LM fixed exchange rate
• Oct-27 (Thu): AS-AD model,
• Nov-1 (Tue): Policy analysis, PP
• Nov-3 (Thu): Costs and benefits of international trade

Long-run Growth

• Nov-8 (Tue): Growth facts
• Nov-10 (Thu): Methods for identifying causes and effects
• Nov-15 (Tue): Institutions
• Nov-17 (Thu): Solow model
• Nov-22 (Tue): Solow diagram, PP
• Nov-24 (Thu): Thanksgiving
• Nov-29 (Tue): Solow Applications.
• Nov-29 (Tue): Last class. Model summary. All questions answered! (or almost all...).

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