Morten O. Ravn - ECON G022 - Macroeconomics, Autumn 2009

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1. Schedule
Tuesday 13/10/2009: Introduction
Tuesday 20/10/2009: The Ramsey Model
Tuesday 27/10/2009: Economic Growth
Tuesday 03/11/2009: Consumption, Labor Supply, and How to Solve Models
Tuesday 10/11/2009: (Real) Business Cycles

2. Lecture Notes
(a) Slides for Lecture 1
(b) Slides for Lecture 2
(c) Slides for Lecture 3
(d) Slides for Lecture 4
(e) Slides for Lecture 5
(f) Slides for Revision Lecture


3. Exercises

(a) Problem Set 1
(b) Problem Set 2
(c) Problem Set 3
(d) Problem Set 4
(e) Problem Set 5

4. Readings

(a) Week 1:
Michael R. Wickens, "Macroeconomic Theory: A Dynamic General Equilibrium Approach", Princeton University Press, 2008, Chapters 1 & 2
David Romer, "Advanced Macroeconomics", McGraw Hill, 3rd Edition, 2006, Chapter 1
Robert Lucas, "Understanding Business Cycles", Studies in Business Cycles (1981).
(b) Week 2:
Wickens, chapter 2
Romer, chapter 2 (part A)
You may also want to refresh your knowledge about dynamic optimization by reading the mathematic appendix of Wickens and/or any maths book such Chiang (Fundamental Methods of Mathematical Economics), Simon and Blume (Mathematics for Economists), or Pemberton and Rau (Mathematics for Economists)
(c) Week 3
Wickens, chapter 3
Romer, chapter 3
Chapters 1 and 2 of Daron Acemoglu, "Introduction to Modern Economic Growth"
(d) Week 4
Wickens, chapter 4
Romer, chapter 7
Orazio Attanasio, "Consumption", chapter 11 of J. Taylor and M. Woodford (1999), Handbook of Macroeconomics.
Martin Browning and Thomas F. Crossley, "The Life-Cycle Model of Consumption and Saving", Journal of Economic Perspectives 15(3), 2001, 3-22.
(e) Week 5
Wickens, chapter 14
Romer, chapter 4
Gary Hansen and Randall Wright: "The Labor Market in Real Business Cycle Theory"
Robert G. King and Sergio Rebelo: "Resuscitating Real Business Cycles"
For views on the macroeconomics, read Chari and Kehoe, "Modern Macroeconomics in Practise: How Theory is Shaping Policy", Mankiw, "The Macroeconomist as Scientist and Engineer", and Krugman, "How did Economists Get It So Wrong?".

5. Past Exam Papers
2007 Exam
2008 Exam
Sample questions
The exam papers above from past years should give a good idea about the type and level of questions. The format of the questions will be more similar to the 2008 exam set than the 2007 examn set.


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