Macroeconomics I


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.
  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.

Calendar

August 28th. 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. 8th

August 30th. Consumption and welfare.

  1. READING: Section 2.4
  2. PROJECT: Divergence

September 6th. AK growth models.

  1. READING: Section 2.5
  2. PROJECT: Convergece Speed
  3. ASSIGN: Homework 2, due Sep 15th

September 11th. Productivity growth.

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

September 13th. Productivity accounting.

  1. READING: Sections 3.3, 3.4, 3.5
  2. PROJECT: Levels accounting
  3. ASSIGN: Homework 3, due Sep 22nd

September 18th. Multiple goods.

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

September 20th. Endogenous growth.

  1. READING: Chapter 4
  2. PROJECT: Sources of growth
  3. ASSIGN: Homework 4, due Sep 29th

September 25th. Basic savings problems.

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

September 27th. Long-horizon problems.

  1. READING: Sections 5.4, 5.5, 5.6
  2. PROJECT: Real and nominal savings
  3. ASSIGN: Homework 5, due Oct 6th

October 2nd. Endogenous population.

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

October 4th. Endogenous population.

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

October 9th. EXAM

  1. WHERE: In class
  2. WHAT: All material to this point

October 13th. Return and discuss exam

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