Intermediate Macroeconomics
FALL 2022
Assoc. Prof. Chris Ball
Email: christopher.ball@qu.edu
Office phone: +1 203 582 8745
Office Location: 4th Floor Rocky Top Student Center
QU Course Number: EC 212
Days: Tuesdays and Thursdays
Time: 2:00 - 3:15 PM
Location: College of Arts & Sciences 1, 219
Office Hours: TBD and As Needed
Fall 2022 Syllabus: download
OPTIONAL Books for the course
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Mankiw, Macroeconomics, 11th Edition by MacMillan Press. This is "the" standard macro textbook. Very good and well written. I'll reference it and use some sections, but it's optional.
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Garin-Lester-Sims, Intermediate Macroeconomics by Julio Garin, Robert Lester and Eric Sims. ("GLS Macro"). This is a truly modern macro textbook that is really more of an "advanced undergraduate" macro book than an "intermediate" book. The authors' site is here in case they update.
Outline, Notes and Readings
For this course, I mostly use my own notes. I will reference the Mankiw text and will also provide links to the relevant GLS chapters as well.
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Introduction
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Island and 3 Key Economic Questions All Societies Face
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Practice Problems:
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None
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REVIEW Materials
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Math Review
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Economics Review
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Practice Problems:
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Static Allocation/Optimization: Linear Technology
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Linear Production, Productivity, Technology, Innovation and Comparative Advantage
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H0 TBD Problems with linear functions and markets
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READINGS:
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Practice Problems:
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Static Allocation/Optimization: Concave Technology
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Concave Production, CRTS, Marginal Products
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HO TBD Concavity and Markets
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Production possibility frontiers and tradeoffs
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Birth of Money
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READINGS:
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Markets and the Role of Prices
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HO TBD Markets and the Role of Prices
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Practice Problems:
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EXAM 1 (Tuesday, October 4, 2022)
Relevant Practice Problems
PP 01 Setup and Aggregate Production
PP 02 Agg and Disaggregate Production
PP Production Possibilities Frontiers
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Static Allocation/Optimization: Production and Consumer Choices
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Utility Maximization Part 1
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(REVIEW from earlier) Concave Production, CRTS, Marginal Products
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NeoClassical Theory of Income Distribution
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READINGS
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Mankiw Chapter 3 - National Income: Where It Comes From and Where It Goes
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Practice Problems:
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EXAM 2: Thursday, November 3, 2022
Relevant Practice Problems
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Dynamic Allocation/Optimization
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Solow Growth Model
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READINGS:
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Mankiw Chapter 8 – Capital Accumulation as a Source of Growth
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Practice Problems:
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Monetary Policy
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The Challenge of Monetary Policy, the Phillips Curve and Losing Control
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In class presentation using AS-AD analysis
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Traditional Theory of Money: MV=Py
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A First Monetary Rule: Friedman's k-percent rule (set %M = %y^FE + k)
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Money Market Basics
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Chris Youtube Videos: "The Nominal Money Market" or "The Market for Nominal Money Balances"
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Money Market 1: Money Demand
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Money Market 2: Graphing Money Demand
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Money Market 3: Money Supply
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Money Market 4: Equilibrium
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Money Market 5: Short Run Analysis
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Money Market 6: Long Run Analysis
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Money Market 7: Time Paths
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Money Market 8: Growth Rate of Money Part 1
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Money Market 9: Growth Rate of Money Part 2
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Modern Monetary Policy: Taylor Rules and New Keynesian Views
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The idea of Interest Rate Rules
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Practice Problems:
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Interest Rates, Euler and Limits to Using Interest Rates: Utility Max Part 2: Markets Over Time and the Role of the Interest Rate
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Practice Problems:
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(Optional) Fiscal Policy
EXAM 3: December 8th, 2022
Relevant Practice Problems
PP Money and Money Markets 2022