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URL: https://sites.google.com/site/badelresearch/intermediate-macro-econ102-1
Description of the Course: This is an intermediate-level course in Macroeconomics. It will expose the student to the essential theory and data used by economists to address the following topics:
Measurement of output and prices
Determinants of economic growth
Business-cycle fluctuations
Fiscal policy
Monetary economics
You will need: Previous Coursework (ECON-001 & 002 or 003 and MATH-035), Internet Connection, Microsoft Excel, PDF Reader.
Office Hours: Tuesday at Noon, Lauinger Library 2nd Floor.
Teaching Assistant: Patrick Collier jc2536@georgetown.edu, Steven Waruhiu sw1009@georgetown.edu.
TA Office Hours/ Recitation: ICC 105 R 7-7:50 for section 01 and Car Barn 2015 8-8:50 for section 02.
Composition of Grades: Your final grade depends on the following scores (weight in parentheses):
Quizzes (20%), Homework (20%), Midterm Exam (30%) and Final Exam (30%).
Midterm: 10/17/2017. (Includes all material covered in class, homework and quizzes up to Lecture 11 (see below)).
Final: 12/19/2017 - date set by registrar's office.
Rules:
1-There are no re-takes of midterm or quizzes. For students who miss a quiz or the midterm exam, the weight is automatically transferred to the final exam.
2-The quizzes are administered without notice. There are between zero and two quizzes per lecture.
3-As expected, all standard code of conduct rules apply.
Book:
Badel and Huggett, "Essential Macroeconomics: A Growth Theory Perspective". This is an intermediate-level book, joint with Georgetown's Professor Huggett.
The book is in preliminary draft form. I will post the relevant chapters of the book on the relevant week on blackboard. You can also get a previous version of the book at Professor Huggett's website.
Readings:
Each topic is illustrated with relevant reading(s). These will be posted on the relevant week on this website. Slides are posted the night before class, excluding quiz questions.
Lecture by Lecture Plan (Subject to Changes) 2017:
Lecture 1: Introduction. Chapter 1. Slides
Lecture 2: Measurement. Chapter 2. Readings. Slides.
Homework 1, due Sept. 13 at Noon.
Lecture 3: Production Function. Chapter 3. Readings. Slides.
Lecture 4: Growth Theory. Chapter 3. Readings. No slides used this lecture, except for quiz.
Lecture 5: Growth Theory. Chapter 4. No slides used this lecture, except for quiz.
Howework 2, due Sept. 28 at 9 AM.
Lecture 6: Growth Accounting. Chapter 3. Readings. No slides.
Lecture 7: Growth. No Readings Due. Slides.
Lecture 8. HW2 Solution, understanding Net Present Values. Read Chapter 4.
Homework 3, Data. Due date Friday October 6, 9 AM.
Lecture 9. Dynamic Consumers. Read Chapter 4. No Extra Readings Due. Slides.
Lecture 10. Dynamic Consumers. Read Chapter 4. No Extra Readings Due.
Howework 4, Due Friday Oct. 13 at 9AM.
Lecture 11. Review of Readings. Q&A. Slides.
Lecture 12. Dynamic Consumers/ Life Cycle Model. Chapter 5. No Readings Due. Slides.
Lecture 13. Life Cycle Model/Business Cycles. Chapter 6. Slides.
Homework 5. Due date Monday Nov. 6, 9 AM.
Lecture 14. Midterm Solution/Business Cycles. Readings.
Lecture 15. Finish up business cycles lecture. Talk about HW. Same slides.
Lecture 16. Business Cycles/ Fiscal Policy. Read Chapter 7. Slides.
Lecture 17. Fiscal Policy. Reading 1. Reading 2. Reading 3.
Homework 6: Business Cycles. Due Thursday Nov 16 at 9 AM.
Lecture 18. Social Security. Optional Reading.
Thanksgiving.
Homework 7. Fiscal Policy / Money. Due Thursday December 7 at 9 AM.
Lecture 19. Money. Readings: POW_camp, monetary_facts, Slides
Lecture 20. Monetary Policy. Readings: Taylor Rule
Lecture 21. Financial Instability. Readings: Diamond-Dybvig, optional reading, slides.
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Syllabus (I reserve the right to make changes):
1 Measurement of Output and Prices.(BOOK-CH.2)
2 Economic Growth
2.1 Neoclassical Production Function (BOOK-CH 3)
2.2 Solow Growth Model (BOOK-CH 3)
2.4 Growth Accounting (BOOK-CH 3)
3 Elements of the Life-Cycle Model
3.1 Dynamic Consumer Theory (BOOK-CH 4)
3.2 The Life-Cycle Model (BOOK-CH 5)
4 Business-Cycle Fluctuations (BOOK-CH 6)
4.1 Business-Cycle Facts
4.2 Business-Cycle Theory
4.3 Keynesian Economics
4.4 Gains to Eliminating Business Cycles
5 Fiscal Policy (BOOK-CH 7)
5.1 Debt and Deficits
5.2 Ricardian Approach to Budget Deficits
5.3 An Analysis of Funded and Unfunded Social Security Systems
6 Money
6.1 Objects Serving as Money
6.2 Relationship Between Money, the Price Level and Interest Rates
6.3 Monetary Policy
6.4 Nominal Exchange Rates
Additional Topics:
IS-LM
Financial Instability
Official Macro Data and Stock Market Reaction
Each topic is complemented with additional readings see lecture by lecture plan. The course is an intermediate macroeconomics course.
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