Intermediate Macroeconomics
FALL 2024
QU Course Number: EC 212
Days: Tuesdays and Thursdays
Time: 2:00 - 3:15 PM
Location: Tator Hall - 114
Assoc. Prof. Chris Ball
Email: christopher.ball@qu.edu
Office phone: +1 203 582 8745
Office Location: 4th Floor Rocky Top Student Center
Office Hours: TBD and As Needed
Fall 2024 Syllabus: download
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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.
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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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MODULE 1: Review and Macro on the Island
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Agg Demand - Agg Supply Analysis with Time Path
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​Practice Problems
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Practice Problems: AS-AD Review and Time Paths
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The Island Macro Economy
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Island and 3 Key Economic Questions All Societies Face
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​​​Linear Production, Productivity, Wages and Innovation
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Practice Problems
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Practice Problems: Setup and Aggregate Production​
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​NeoClassical Theory of Income Distribution​
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Concave Production, CRTS, Marginal Products
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NeoClassical Theory of Income Distribution
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Mankiw Chap 3 - National Income: Where It Comes From and Where It Goes
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Practice Problems
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Practice Problems: NeoClassical Theory of Distribution
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​​EXAM 1: Date TBD
Practice Problems: AS-AD Review and Time Paths
Practice Problems: Setup and Aggregate Production​
Practice Problems: NeoClassical Theory of Distribution
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​MODULE 2: Money and Allocation over Time
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​NeoClassical Theory of Income Distribution​
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Transaction Costs and Institutions​
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Optional READINGS:​
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Practice Problems
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Practice Problems: The Birth of Money and MV=Py
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Allocation Decisions: Static and Dynamic​
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Practice Problems
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Practice Problems: Allocation 1 Euler
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OPTIONAL: Allocation 2 Budget Constraints
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Allocation Decisions: Static and Dynamic​
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Practice Problems
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Practice Problems: Real Money Market Analysis
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EXAM 2: Tuesday, November 12th
Practice Problems: The Birth of Money and MV=Py
Practice Problems: Allocation 1 Euler
Practice Problems: Real Money Market Analysis
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​MODULE 3: The Solow Growth Model and Macroeconomic Policy
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Solow Growth Model​​
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World Bank Graph: US and Germany
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Word Bank Graph: US and Japan
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Mankiw Chap 8 – Capital Accumulation as a Source of Growth
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Practice Problems
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Practice Problems: Solow Growth Model
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Monetary Policy
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Modern Monetary Policy: Taylor Rules and New Keynesian Views
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An AS-AD basis for monetary policy action
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The idea of Interest Rate Rules: The Taylor Rule
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The Effects of Interest Rates on Inflation in Our Allocation Model
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Practice Problems
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Practice Problems:
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​The Challenge of Monetary Policy, the Phillips Curve and Losing Control
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Practice Problems
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Practice Problems:
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The Monetary System​
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HO Chap 4 The Monetary System Notes​​​​
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Practice Problems
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Practice Problems:
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EXAM 3: Date TBD
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APPENDIX: Review of Economics and Math Notes
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Economics Review
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Math Review/Notes
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The Birth of Government
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Fiscal Policy
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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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