Econ520 - Advanced Macroeconomic Theory¶
Spring 2023 - Prof. Lutz Hendricks¶
- Panels on career options for econ majors, Jan 18 to Feb 23
- 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.
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
Schedule of Classes¶
- 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.