Econ520 - Advanced Macroeconomic Theory¶
Fall 2024 - Prof. Lutz Hendricks¶
Announcements¶
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Syllabus, Info on writing assignments, Assignment 1, Assignment 2.
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Assignment details may change. Use the one on gradescope for your answer.
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Due dates are shown in the class schedule.
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Information on waitlists and how to enroll
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Office hours: M 10:30 to 11:30, W 12:30 to 1:30. Gardner 06C. Or by appointment.
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Office hours may change (due to other commitments).
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Appointments are usually more efficient than regular office hours (except around exam times).
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Final exam:
- Dec 6, 8 am. See Final exam schedule.
- 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.
- Midterm exam: Oct 14
- Material covered: TBA.
- 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.
AS AD applications, Phillips curve, Phillips curve applications
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Trade deficits, Open economy basics, AS AD fixed exchange rates, AS AD floating exchange rates, Choice of regime, Costs and benefits of trade
Schedule of Classes¶
Short Run¶
- Aug-19 (Mon): Introduction, IS-LM model (each of these links leads to the slides that were used in class)
- Aug-21 (Wed): IS/LM Equilibrium
- Aug-26 (Mon): IS/LM Equilibrium (cont.)
- Aug-28 (Wed): IS/LM Equilibrium (cont.)
- Sep-2 (Mon): Labor day
- Sep-4 (Wed): IS/LM Monetary Policy
Medium Run¶
- Sep-9 (Mon): Labor market
- Sep-11 (Wed): Labor market (continued)
- Sep-16 (Mon): Labor market with frictions
- Sep-18 (Wed): AS-AD model
- Sep-23 (Mon): Wellness day
- Sep-25 (Wed): AS-AD model (continued)
- Sep-30 (Mon): AS-AD applications
- Oct-2 (Wed): Inflation and unemployment
- Oct-7 (Mon): Inflation and unemployment: Applications
- Oct-9 (Wed): Midterm review
- Oct-14 (Mon): Midterm exam
- Oct-16 (Wed): Inflation and unemployment: Applications (contd.)
- Oct-21 (Mon): Fiscal Deficits | Assignment 1 due
Open Economy¶
- Oct-23 (Wed): Trade deficits
- Oct-28 (Mon): Trade deficits (contd.)
- Oct-30 (Wed): Open economy model basics
- Nov-4 (Mon): AS-AD model: fixed exchange rate
- Nov-6 (Wed): AS-AD fixed exchange rate (contd.)
- Nov-11 (Mon): AS-AD fixed exchange rate (contd.)
- Nov-13 (Wed): Floating exchange rate model
- Nov-18 (Mon): Floating (contd.)
- Nov-20 (Wed): Floating (contd.), Choice of exchange rate regime.
- Nov-25 (Mon): Costs and benefits of international trade
- Nov-27 (Wed): Thanksgiving
- Dec-2 (Mon): Costs and benefits of international trade (contd.)
- Dec-4 (Wed): Last class. All questions answered! (or almost all...).
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.
Feedback¶
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.
- 2024 Fall: Midterm, Final
- 2024 Spring: Midterm, Final
- 2023 Fall: Midterm, Final
- 2023 Spring: Midterm, Final
- 2022 Fall: Midterm, Final
- 2021 Fall: Midterm, Final
- 2021 Spring: Midterm, Final
- 2017 Spring: Midterm, Final
- 2016 Spring: Midterm, final
- 2015 Spring: exam1, exam2, final
- 2013 Fall: exam1, exam2, final.
- 2012 Fall: exam1, exam2, final.
- 2012 Spring: exam1, exam2, final.
- 2010 (course title was Econ499): exam1, exam2, final.