Updated A.Y. 2020-2021
Macroeconomics Syllabus 2020-21
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
Chapter 8 pp. 345-364
Lecture 16) Fixed Capital Investment and Tax Policy
Lecture 17) Inventory investment
Blinder, A "Inventories and the Structure of Macro Models," American Economic Review vol 71 pp 11-16 (May 1981).
Lecture 18) Exercises and review.