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Updated A.Y. 2021-2022

Macroeconomics 1   2021-22

link to teams meeting


Robert Waldmann



Advanced Macroeconomics by David Romer

(McGraw-Hill : New York, Lisbon, London, Madrid, Milan etc.)


The purposes of the course are two. The first is to examine the determinants of long term GDP growth trends, with a focus on symple theoretical models which attempt to explain the fact that growth has continued without apparent limit and with a roughly constant ratio of GDP to capital. The second is to develop the tools which will be used in macroeconomics II to understand the business cycle and in particular to evaluate models of consumption saving choice under uncertainty and of investment with installation costs.




Lecture 1) Solow Model Review

Chapter 1 pp. 5-33

Lecture 2) The Ramsey Cass Koopmans Model I

Chapter 2 pp. 38-52

Lecture 3) Ramsey Cass Koopmans Model II

Chapter 2 pp. 52-72

Lecture 4) The Romer 86 model

Chapter 3 pp. 116-117.

Lecture 5) The Romer 90 model I

Chapter 3 pp 95-110.

Lecture 6) The Romer 90 model II

Chapter 3 pp 111-116, pp 118-126

Lecture 7) Human Capital and Growth

Chapter 3 pp 126


Consumption and Investment

Lecture 10) Stochastic implications of the Permanent Income Hypothesis.

Chapter 7 pp. 310-328

Lecture 11)The Consumption CAPM

Lecture 12) The overlapping generations model with money

Chapter 2 pp. 72-88

Lecture 13) Exercise session

Lecture 14) What I really believe about consumption.

Lecture 15) Fixed Capital Investment and Tax Policy

Chapter 8 pp. 345-364

Lecture 16) Residential fixed capital investment and Inventory investment

Blinder, A "Inventories and the Structure of Macro Models," American Economic Review vol 71 pp 11-16 (May 1981).

Lecture 17) What I really believe about investment

Lecture 18) Exercises and review.


This below is a guide to the unfortunately confused and alphabetically ordered materiale didattico

The section "Behavioral" is for another course and 
not your problem.

The Notes correspond to lectures as follows

Lecture 1 =  Solownote
Lecture 2 =  Solow
Lecture 3 = Ramsey Cass Koopmans
Lecture 4 = Ramsey Cass Koopmans with optimal control
Class 5  = exercize session (done on the spot then posted)
Lecture 6 =  Romer 86 
Lecture 7 =  human capital 
Lecture 8 = Romer 90
Class 9 = exercize session (done on the spot then posted)

Lecture 10 = Consumption 
Lecture 11 = Consumption II precautionary saving and consumption CAPM
Lecture 12 = OLG
class   13 = exercize session (done on the spot then posted)
Lecture 14 = what I think about consumption
Lecture 15 = Q Model of Investment
Lecture 16 = Q Model 2 applications to taxes
Lecture 17 inventory investment & what I think about investment
class 18 exercizes and review.