Macroeconomics I

Revised 9/1/2017 in response to Harvey.

This is the first-semester graduate macroeconomics course. It is taught with Prof. Yi. My section of the course will come first, and cover models of economic growth.

  1. Lecture Notes, these are required reading
  2. Aghion and Howitt, and feel free to grab an older edition
  3. Barro and Sala-i-Martin
  4. Wickens

Class structure and grading

You have four responsibilities for this class:

  1. Reading: You should have read up through the listed material in the calender before each class. In class, I will not be lecturing on that material, but will be taking questions on it.
  2. Projects: These will be worked on in class, where I’ll be available to answer questions and guide you towards an answer. The projects are like open-ended homework problems. Some of the projects may take more than just the officially scheduled time, and I’ll be available immediately after class for continued assistance. This extra time will effectively be our make-up time for Harvey.
  3. Homeworks: These are assigned each week and due on Friday in your TA section.
  4. Exam: On October 9th, in class.

As per the overall course syllabus, exams count for 45% of your grade, so my exam is roughly 22.5% of your grade. Homework counts for 45% of your overall grade, so my projects and homeworks count for about 22.5% of your grade. My evaluation of your participation will be combined with Prof. Yi’s to form the last 10% of your overall grade.


September 6th. Basic accounting and elements of the Solow Model.

  1. READING: Chapter 1 and Sections 2.1, 2.2, 2.3
  2. PROJECT: Labor Shares
  3. ASSIGN: Homework 1, due Sep. 15th
  4. EXTRA: BSM (Chap 1.2), AH (Chap 1)

September 11th. Consumption and welfare.

  1. READING: Section 2.4
  2. PROJECT: Divergence

September 13th. AK growth models.

  1. READING: Section 2.5
  2. PROJECT: Convergece Speed
  3. ASSIGN: Homework 2, due Sep 22nd
  4. EXTRA: AH (Chap 2), BSM (Chap 4)

September 18th. Productivity growth.

  1. READING: Sections 3.1, 3.2
  2. PROJECT: Uzawa’s Theorem

September 20th. Productivity accounting.

  1. READING: Sections 3.3, 3.4, 3.5
  2. PROJECT: Levels accounting
  3. ASSIGN: Homework 3, due Sep 29th
  4. EXTRA: AH (Chap 5)

September 25th. Multiple goods.

  1. READING: Section 3.6, 3.7
  2. PROJECT: Structural transformation

September 27th. Endogenous growth.

  1. READING: Chapter 4
  2. PROJECT: Sources of growth
  3. ASSIGN: Homework 4, due Oct 6th
  4. EXTRA: BSM (Chap 5,6,7) AH(Chap 3,4)

October 2nd. Basic savings problems.

  1. READING: Section 5.1, 5.2, 5.3
  2. PROJECT: Capital flows

October 4th. Long-horizon problems.

  1. READING: Sections 5.4, 5.5, 5.6
  2. PROJECT: Real and nominal savings
  3. ASSIGN: Homework 5, due Oct 13th
  4. EXTRA: BSM (Chap 2), W (Chap 2, 3, 4)

October 9th. Endogenous population.

  1. READING: Sections 6.1 and 6.2
  2. PROJECT: Population and productivity growth

October 11th. Endogenous population.

  1. READING: No additional reading
  2. PROJECT: Demographic transition

October 16th. EXAM

  1. WHERE: In class
  2. WHAT: All material to this point
  3. RETURNED: Pick up in my office
  4. PRACTICE: See old midterms from 2013, 2014, 2015

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