Professor Peng Zhou (Joe)

Macroeconomic Theory

Lecture Materials

Module Information
- Module Description
- Module Outline
Textbook: Williamson, S. (2018) Macroeconomics, 6th ed. Pearson.
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- Buy a Kindle edition in Amazon here

How to Contact Me

Use Dropbox comment tool During and After Lectures
Click here to register a free Dropbox account
Email: ZhouP1@cardiff.ac.uk
Office Hour: Email me to book slots.

Lecture Materials

Useful Resources

- Codebook of Symbols
- Research Seminars/Workshops at Economics Section

- A Brief Maths Revision (Optimisation & Chain Rule)
- A Short Course in Quants

Autumn Semester Lectures

Spring Semester Lectures

Topic 3: Monetary Models with Flexible Prices/Wages
- Lecture 3.1 Video
- Lecture 3.2 Video
- Lecture 3.3 Video Self-Tests
- Lecture 3.4 Video Self-Tests
- Lecture 3.5 (NOT required for exam)
- Lecture 3.6 (NOT required for exam)
Topic 4: Monetary Models with Sticky Prices/Wages
Topic 5: Open Economy Models without Money
- Lecture 5.1 Video
- Lecture 5.2 Video Self-Tests
- Lecture 5.3 (NOT required for exam)
Topic 6: Open Economy Models with Money
End-Term Revision (with mock exam questions)

Tutorial Materials

Voluntary Coursework

- Autumn Semester: A Report to the HM Treasury on Tax Deduction
- Spring Semester: A Report to the Bank of England on Base Rate Deduction

Autumn Semester Tutorials

Static Models 1 (to be covered in two tutorials)
- Week 4 + Week 7: Question Answer Video1 Video2
Static Models 2
- Week 9: Question Answer Video
Dynamic Models
- Week 11: Question Answer Video

Spring Semester Tutorials

Monetary Models 1
- Week 1: Question Answer Excel Video
Monetary Models 2
- Week 3: Question Answer Video
Monetary Models 3
- Week 5: Question Answer Video
Open Economy Models 1
- Week 8: Question Answer Video
Open Economy Models 2
- Week 13: Question Answer Video

Trading Competition

Brief How to Participate
Trading Techniques Video
FAQs
Previous Years' Trading Game Results: 2022-23 2021-22 2020-21 2019-20 2018-19 2017-18

Notes: This module introduces the frontier methodology of macroeconomics--microfoundation ("the method")--to explain the short-run business cycles and long-run economic growth ("the questions"). Those who are familiar with the old fashioned (or "ad hoc") macroeconomics (i.e. IS-LM-AS-AD, which economists had stopped using since 1980s) may find it totally different from what you thought "macroeconomics" was. The fundamental difference is that all macroeconomic relationships are derived from microeconomic optimisation behaviour of consumers and firms, rather than assumed as in the old days.