ECON 820 Money in the Macroeconomy, Fall 2015
News:
Nov 30, 2015: Practice questions posted
Nov 25, 2015: Lecture note 5a posted
Nov 17, 2015: Lecture note 4a and assignment 3 posted
Nov 10, 2015: Lecture note 3b posted
Oct 27, 2015: Practice questions and lecture note 3a posted
Oct 20, 2015: the date of final exam announced - Dec 9, 2015 9:00AM‐12:00PM @ DUN 213
Oct 13, 2015: Solution to assignment 1, Lecture notes 2c and 2d posted. MATLAB code and data to estimate the model to compute welfare cost of inflation also posted
Oct 6,2015: Assignment 2 posted
Oct 6, 2015: Lecture note 2a and 2b posted.
Sept 29, 2015: We will go line-by-line the tricks to write smart programs in MATLAB. References and an example code to solve bargaining problem are posted.
Sept 22, 2015: Assignment 1 posted, lecture notes 1d and 1e posted
Sept 20, 2015: Lecture note 1c posted
Sept 17, 2015: Lecture notes 1a and 1b posted (minor update on Sept 19)
Sept 14, 2015: syllabus posed (update on Sept 19)
Final Exam: Dec 9, 2015, 9:00AM‐12:00PM @ DUN 213
Assignment 3: due in class on Nov 25
Assignment 2: due in class on Oct 14
Assignment 1: due in class on Sept 30
Midterm Exam: Nov 4, 2015 in class
Lecture notes
1. Foundation of monetary theory
1a. Basic model
1c. Money is memory
1d. Tractable models of monetary exchange
1e. (Supplementary) Nash bargaining and proportional bargaining, a MATLAB example to solve bargaining problem
MATLAB references: a brief intro to MATLAB, how to write fast codes, good style, Matrix cookbook
2. Long-run effect of monetary policy
2a Friedman Rule, a MATLAB code to solve and plot money demand curve
MATLAB example: the U.S. monetary data 1900-2000, a code to compute welfare cost of inflation
2d (Supplementary) Monotone comparative statics
3. Short-run non-neutrality
3a Monetary data and structural vector autoregressions (by Larry Christiano)
3b Market segmentation and liquidity effects
3c More on market segmentation and Taylor rule
4. Monetary policy implementation
4a Settlement and discount window
4b Channel system
5. Banking and crises
5a Bank runs