Teaching

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Problem Set 1 (Due 11/6): Link Here*

*Partial solution of Q4 of PS1 on Alex's Wurdinger's website (Recitation 2)

Recitation 1: Notes (Posted 10/28): Dynamic Programming Review

Recitation 2: Notes: Household Aggregation

Problem Set 2 (Q1-Q5 Due 11/15 by 2:30; Q6-Q8 Due 12/15): Link Here* 

*Guess and verify in Q1 closely related to exercise covered in my 8105 Recitation 6 notes. Q2 and parts of Q3 covered on Alex Wurdinger's website (8106 Recitation 1 and Recitation 3 notes, respectively). Q1 and Q2 also discussed in Amol Amol Recitation 3 notes (website)

Recitation 4: Notes:* SLP and 2021 Midterm Example

*Edit: When defining F(k,k') on page 6, the k' non-negativity constraint was a typo. k and k' are always fixed when we define F(k,k') this way.

Thought on SLP Notation (Fall 2023): Given that we often define a production function using the letter "F" (for example, F(k,n)), it might be a pedagogical improvement to define the one-period return function in SLP as r(x,y) rather than F(x,y). Here, the "r" could be thought of standing for "return," as in a one-period return function. I think it can be confusing to see both a production function and the one-period return function denoted by "F." This is also the notation that Ljungqvist-Sargent uses. 

Midterm Exam: Link Here, Solution Sketch

Problem Set 3 (Due 12/6): Link Here

Recitation 5/6 (fixed typos): Notes: TDCE/Ramsey

Problem Set 4 (Due 12/16): Link Here

Final Exam: Link Here, Q2 Solution Sketch

Past 8106 Midterms

Jones Prelim Questions

Past 8106 Finals

Not covered in class but helpful: Notes on the Envelope Condition (courtesy of Alex Wurdinger)

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Recitation 1: Notes (Updated 9/13): Defining, Characterizing, and Calculating an Arrow-Debreu Equilibrium

Recitation 2: Notes (Posted 9/14): Sequential Markets Equilibrium, Pareto Efficiency, and the Welfare Theorems

Recitation 3: Notes (Posted 9/22): Pareto Efficiency, Welfare Theorems, and Production

Recitation 4: Notes (Posted 10/5): Introduction to Dynamic Programming

Recitation 5: Notes (Posted 10/7): Production with N Infinitely Lived Households

Recitation 6: Notes: Steady States and Dynamic Programming Part 2 (with Guess and Verify Example); Python Value Function Iteration

*Recitation 6 Note: Please note that in a "Guess and Verify" problem like this, the "verification" step might be (e.g. with u(c) = log(c)) showing that there exists constant (a0,a1) such that V(k) = a0 + a1 log(k). By finding constants (a0, a1) such that V(k) = a0 + a1 log(k), you are verifying that your guess of the functional form is correct. My cohort was taught that "verifying" was checking that the policy function solves the Euler and TVC, but other sources suggest that "verifying" just means confirming your guess of the functional form. So the "verify" section of the Euler equation/TVC in these notes might not be necessary if you just want to show that the Bellman equation takes that functional form (but it is still a good check). I am not 100% sure about this though. 

Recitation 7: Notes (Posted 10/18): Infinitely Lived and Two-Period OLG with N Types of Consumers