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Econ520 - Advanced Macroeconomic Theory

Fall 2024 - Prof. Lutz Hendricks


  • Syllabus

  • TA: TBD

  • 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

Medium Run

Open Economy

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.