Week 1 : Measuring Macroeconomic Variables & Working with Economic Data
Hoover - Guide to Working with Economic Data
Background Reading:
Mankiw, Ch. 1-3 & 19
Jones (2008), Ch. 1-2 & 8
Studenmund, Ch. 1-5 & 9 - see Lecture 2: Econometrics Primer
Chiang, Ch. 1-2 & 10
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Week 2 : Econometrics Primer and ARMA Processes and Trends
Jones, Ch. 1
Background Reading:
Studenmund, Ch. 12 & 15
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Week 3 : Solow Growth Model and Extensions
Jones (2002), Ch. 2 & 9 + Appendix A
Romer, Ch. 1
Background Reading:
Chiang, 9, 11 & 14
Mankiw, Ch. 7-8
Jones (2008), Ch. 2-5
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Week 4 : Diamond Model & Empirical Applications of the Neoclassical Growth Model
Romer, Ch. 2, Part B
Jones, Ch. 3
Pritchett, L. (1997). Divergence, big time. Journal of Economic Perspectives, 11(3), 3-17.
Olson, M. (1996). Distinguished lecture on economics in government: Big bills left on the sidewalk: Why some nations are rich, and others poor. Journal of Economic Perspectives, 10(2), 3-24.
Background Reading:
Chiang, Ch. 12 & 16
Studenmund, Ch. 6-7 & 11
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Week 5 : Endogenous Growth Models I
Jones, Ch. 4-6
Romer, Ch. 3
Romer, P. (1994). The origins of endogenous growth. Journal of Economic Perspectives, 8(1), 3-22.
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Week 6 : Endogenous Growth Models II
Jones, Ch. 8 & 10
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Week 7 : Exam #1
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Week 8 : Economic Fluctuations (Data) & RBC Approach
Romer, Ch. 4
Plosser, C. (1989). Understanding real business cycles. Journal of Economic Perspectives, 3(3), 51-77.
Franses, Ch. 5
Background Reading:
Mankiw, Ch. 9 & 19
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Week 9 : IS/MP/AS Model I
Romer, Ch. 5
Romer, D. (2006, January). Short-run fluctuations. Retrieved January 29, 2007 from http://elsa.berkeley.edu/~dromer/papers/text2006.pdf
Romer, D. (2006, January). Figures for short-run fluctuations. Retrieved January 29, 2007 from http://elsa.berkeley.edu/~dromer/papers/Figures_for_Web_1-2-06.pdf
Background Reading:
Chiang, Ch. 4-5
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Week 10 : IS/MP/AS Model II
Lucas, R. (1973). Some international evidence on output-inflation tradeoffs. American Economic Review, 63 , 326-334.
Snowdon, B. & Vane, H.R. (1997). The development of modern macroeconomics: A rough guide. In B. Snowdon & H.R. Vane (Eds.), A macroeconomics reader (pp. 1-26). London : Routledge.
Background Reading:
Mankiw, Ch. 13-2
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Week 11 : Neoclassical Approach
Romer, Ch. 6, Pt. A
Mankiw, N.G. (2006). The macroeconomist as a scientist and engineer. Journal of Economic Perspectives, 20 (4), 29-46. (available in print in the Library).
Background Reading:
Mankiw, Ch. 13-1
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Week 12 : New Keynesian Approach
Romer, Ch. 6, Pt. B-C
Mankiw, N.G. (1985). Small menu costs and large business cycles: A macroeconomic model. Quarterly Journal of Economics, 100, 526-538.
Ball, L., Mankiw, N.G., & Romer, D. (1988). The new Keynesian economics and the output-inflation trade-off. Brookings Papers on Economic Activity, 1988, 1-82. Please read the commentary at the end.
Background Reading:
Mankiw, Ch. 13-1
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Week 13 : Unemployment and Real Rigidities
Romer, Ch. 9, pg. 437-449
Yellen, J. (1984). Efficiency wage models of unemployment. American Economic Review, 74, 200-205.
Blanchard, O. & Katz, L. (1997). What we know and do not know about the natural rate of unemployment. Journal of Economic Perspectives, 11 (1), 51-72.
Background Reading:
Mankiw, Ch. 6
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Week 14 : Consumption Theory
Romer, Ch. 7
Hall, R. (1978). Stochastic implications of the life cycle-permanent income hypothesis: Theory and evidence. Journal of Political Economy, 86 , 971-987.
Background Reading:
Mankiw, Ch. 16
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Week 15 : Special Topics - International Macroeconomics (by majority vote)
Reading:
Obstfeld, M., Shambaugh, J. & Taylor, A. (2005). The trilemma in history: Tradeoffs among exchange rates, monetary policies, and capital mobility. Review of Economic Statistics, 87(3), 423-438.
Lecture presentation on article
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| Week 16 : Exam #2 |
