Econ520 - Advanced Macroeconomic Theory¶

Announcements¶

Panels on career options for econ majors, Jan 18 to Feb 23
Syllabus
Final exam:
- May 8, 4pm. You will have 3 hours, but I expect that you will need less time than that.
- Material covered: Starting from open economy. I will try to avoid material from the last class (but the Solow model is covered, so that may not be entirely feasible). Also note: the material is, by its nature, cumulative. The open economy models are extensions of the closed economy models. Some issues from before the midterm may therefore come up, but questions will not focus on pre-midterm topics.
Midterm exam:
- Mar 2 (in class). Midterm answer key
- Material covered: up to (not including) open economy.
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

Jan-10 (Tue): Introduction, IS-LM model (each of these links leads to the slides that were used in class)
Jan-12 (Thu): IS/LM Equilibrium
Jan-17 (Tue): IS/LM Equilibrium (cont.)
Jan-19 (Thu): IS/LM Monetary Policy

Jan-24 (Tue): Labor market
Jan-26 (Thu): Labor market (continued)
Jan-31 (Tue): The term paper: We discuss how to find topics and how to write. We discuss what makes a good topic.
Feb-2 (Thu): AS-AD model
Feb-7 (Tue): AS-AD model (continued)
Feb-9 (Thu): AS-AD model (continued)
Feb-14 (Tue): Wellness day | Term paper topic decisions are due.
Feb-16 (Thu): Inflation and unemployment
Feb-21 (Tue): Inflation expectations and monetary policy
Feb-23 (Thu): Fiscal Deficits

Feb-28 (Tue): Trade deficits
Mar-2 (Thu): Midterm
Mar-7 (Tue): Trade deficits (contd.)
Mar-9 (Thu): IS-LM model | Term paper draft of draft is due.
Mar-14 (Tue): Spring break
Mar-16 (Thu): Spring break
Mar-21 (Tue): IS-LM floating exchange rate
Mar-23 (Thu): IS-LM fixed exchange rate
Mar-28 (Tue): AS-AD model: fixed exchange rate, Policy analysis: fixed exchange rate
Mar-30 (Thu): Floating exchange rate model, Choice of exchange rate regime | Term paper draft is due.
Apr-4 (Tue): Costs and benefits of international trade
Apr-6 (Thu): Wellness day

Apr-11 (Tue): Growth facts
Apr-13 (Thu): Methods for identifying causes and effects
Apr-18 (Tue): Institutions
Apr-20 (Thu): Solow model, Solow diagram | Term paper (final version) is due.
Apr-25 (Tue): Solow Applications
Apr-27 (Thu): Romer model, Policy implications
Apr-27 (Thu): Last class. All questions answered! (or almost all...). A Model summary may be useful for your review.