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Econ720: Advanced Macroeconomic Theory (PhD)

Fall 2021. Prof. Lutz Hendricks. UNC

Course objective:

Econ720 is the first course in the macro PhD sequence. Its objective is to teach basic versions of the standard models commonly used in macroeconomics. In parallel, the course develops the mathematical methods used to characterize the equilibria of the models.

This is a largely a theory and methods course. But we will cover some applications to topics such as the distribution of wealth. The course schedule contains more detail.



  • Midterm: 40%. Final: 50%. Problem sets: 10%. Exams are closed book and cover all material taught.
  • Per university requirement, the final will last 3 hours.
  • Review problems are for your practice and not to be turned in. Many are questions from previous exams.
  • If a student misses a midterm, the weight of that midterm in the course grade will be added to the weight on the student’s final. An exception will be made for University-approved absences. Students with this type of absence may request a make-up examination at a time convenient to both student and instructor.


  • We do not closely follow a text, but a good one is:
  • Acemoglu, Introduction to Modern Economic Growth, MIT Press, ISBN-13: 978-0691132921
  • Also useful:
  • Dirk Krueger’s Macroeconomic Theory manuscript ([2012 version][]; this tends to move around on the web).
  • Per Krusell’s Real Macroeconomic Theory manuscript, 2014 version
  • Additional readings are in the slides.


  • Questions and comments are always welcome.
  • You should download the slides before each class. However, I tend to change details even after posting the slides.

Previous Exams

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