Intermediate Macroeconomics
Spring 2022

Assoc. Prof. Chris Ball

Economics Department


Office phone: +1 203 582 8745

Office Location: 4th Floor Rocky Top Student Center

AS-AD and Other Review Topics

TYPED NOTES: Review of AS-AD Basic

A minor, side challenge throughout the semester will be to see at what point(s) we can think in terms of an AS-AD framework for the economy.


  • The basic island concept and the three fundamental economic challenges all societies face: (1) Who Does What?, (2) Who Gets What? and (3) How Can We Handle Aggregate Shocks?/How Do We Smooth Consumption?

PART I: The Setup and "Who Does What?"

PART II: The Distribution of Income and "Who Gets What?"

PART III: Dyanmics Part 1 - The Fundamentals and "Smoothing Consumption"

PART IV: Dynamics Part 2 - The Example of Capital Accumulation and the Solow Growth Model

Evalutating the Solow Models in terms of GDP per Capita


PART V: Money, Government and Policy

Monetary Policy: An Evolutionary and Conceptual History of Money from Stones to 2021 FED Policy

QU Course Number: EC 212

Days: Tuesdays and Thursdays

Time:  2:00 - 3:15 PM

Location:  TH 328

Office Hours: TBD and As Needed

Syllabus and Other Material

EC 212 Spring 2022 Syllabus: download

OPTIONAL textbook for the course:

  • Mankiw, Macroeconomics, 11th Edition by MacMillan Press

    • Standard macro textbook. Very good and well written.​

  • Garin-Lester-Sims, Intermediate Macroeconomics by Julio Garin, Robert Lester and Eric Sims.

    • 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.

Additional Reading


The Economics of TIME

Gary Becker's 1965 Classic (Optional and Advanced/Technical)

  • "A Theory of the Allocation of Time," by Gary Becker, The Economic Journal. September 1965.

Modern FED Policy Framework

Birth of Money

Early Trade Structures


Friedrich Hayek's 1945 Classic (Optional)

Additional Material for the More Analysis-Oriented Student




I recommend you watch them in order and SKIP "Evaluating Growth" videos at first. After you finish all the Solow Model stuff, you can return to them. I just organized them with each section so you can easily go back and check the videos when you look at the Evaluation Stuff.

Solow Model with Population Growth

Solow Model with Technological Progress

Evalutating the Solow Models in terms of GDP per Capita


Lecture Notes: Comparing Models


Evaluation Videos all in One Place (best if you download the "Comparing Models" Notes and go through these with those notes and AFTER we did it in class.)