Classes
Two lectures per week on Mondays and Wednesdays from 10:05 a.m. to 11:25 a.m. in Leacock 541.
Office Hours
Mondays 1 p.m. to 3 p.m. in Leacock 522 or by appointment.
Grading
Mid-term exam: 30%
Problem sets: 30%
Final exam: 40%
Homework
Each homework is due before class on the date indicated below.
Homework #1 (due on date TBD). Matlab codes to solve the second-order perturbation: SGU.zip
Homework #2 (due on date TBD).
Homework #3 (due on date TBD).
Homework #4 (due on date TBD).
Homework #5 (due on date TBD).
Course outline
Content
The material for this course is drawn from various textbooks and papers published in academic journals.
The textbooks are:
Open Economic Macroeconomics, by M. Uribe and S. Schmitt-Grohe, Princeton University Press, 2017. Supplementary materials can be found in the book website http://www.columbia.edu/~mu2166/book/
Foundations of International Macroeconomics, by M. Obstfeld and K. Rogoff, MIT Press, 1996.
International Macroeconomics: A Modern Approach, by M. Uribe, S. Schmitt-Grohe, and M. Woodford, Princeton University Press, 2022. This is an undergraduate textbook but it will be useful for you to review basic concepts.
The papers, organized by topic, are:
Second-order perturbation methods
Jin, H. and K. L. Judd, 2002, Perturbation Methods for General Dynamic Stochastic Models, Stanford University, Mimeo.
Schmitt-Grohe, S. and M. Uribe, 2004, Solving Dynamic General Equilibrium Models Using a Second-order Approximation to the Policy Function, Journal of Economic Dynamics and Control, Vol. 28, pp. 755-775.
Replication codes (adapted from codes in Open Economic Macroeconomics, by M. Uribe and S. Schmitt-Grohe, Princeton University Press, 2017)
Matlab code open-economy real business cycle model (TBA).
Matlab code to replication MX model (TBA)