Econ520 - Advanced Macroeconomic Theory¶
Fall 2024 - Prof. Lutz Hendricks¶
Announcements¶
-
TA: TBD
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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:
- 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.
| Topic | Slides |
|---|---|
| IS/LM equilibrium | Spring 2024 |
| Labor market | Spring 2024 |
| Labor market with frictions | Spring 2024 |
| AS AD model | Spring 2024 |
| AS AD applications | Spring 2024 |
| Phillips curve | Spring 2024 |
| Phillips curve applications | Spring 2024 |
| Government debt | Spring 2024 |
| Trade deficits | Spring 2024 |
| Open economy basics | Spring 2024 |
| AS AD fixed exchange rates | Spring 2024 |
| AS AD floating exchange rates | Spring 2024 |
| Choice of regime | Spring 2024 |
| Costs and benefits of trade | Spring 2024 |
| Institutions | Spring 2024 |
Note: Slides marked "Spring 2024" are still from last semester.
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) | Assignment 1 due
- Sep-30 (Mon): AS-AD applications
- Oct-2 (Wed): Inflation and unemployment
- Oct-7 (Mon): Review class before midterm
- Oct-9 (Wed): Inflation and unemployment: Applications
- Oct-14 (Mon): Fiscal Deficits
Open Economy¶
- Oct-16 (Wed): Trade deficits
- Oct-21 (Mon): Trade deficits (contd.)
- Oct-23 (Wed): Open economy model basics
- Oct-28 (Mon): AS-AD model: fixed exchange rate
- Oct-30 (Wed): AS-AD fixed exchange rate (contd.)
- Nov-4 (Mon): Floating exchange rate model
- Nov-6 (Wed): Floating (contd.), Choice of exchange rate regime.
- Nov-11 (Mon): Costs and benefits of international trade
- Nov-13 (Wed): Costs and benefits of international trade (contd.)
Long-run Growth¶
- Nov-18 (Mon): Cross-country income gaps: Institutions
- Nov-20 (Wed): Long-run growth: Solow model, Solow diagram | Assignment 2 due
- Nov-25 (Mon): Solow Applications
- Nov-27 (Wed): Thanksgiving
- Dec-2 (Mon): 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 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.