bandeau

Intermediate Macro

Lectures

Lectures are on Mondays, 17:00-19:00, in room 11 (27, rue Saint-Guillaume).

This is a second year undergraduate course in macroeconomics, which is aimed for students who have a deeper interest in macroeconomics. The course will present and analyse important macroeconomic theories through formal models. We will also look at some examples of empirical work, which illustrate the ways that theories can be applied and tested. Some of the topics we will cover are: growth, business cycles, consumption, unemployment, fiscal policy and budget deficits. The course will largely follow Williamson’s Macroeconomics textbook (Prentice Hall).

Tutorials

You should address questions regarding the problem sets and the tutorials to your tutor, Sylvérie Herbert, who you can contact by email on sylverie.herbert@sciencespo.fr. In case there are topics where many of you require assistance, we will organize tutorials. A very extensive maths handout.

Syllabus

Past exam ***NEW MATERIAL***

Topic 1: Introduction & Measurement

Lecture 1

Group assignment 1 ***POSTPONED DEADLINE*** hand in by the 5th of February midnight, 25% of your final grade. Additional info for Group assignment 1 here. Please go here to download the excel add on to HP filter the series. Notes on the first assignment here.

Problem set 1; PS1 solutions

Required Reading: Williamson: Macroeconomics, chapter 1 & 2

Additional Reading:

The Economist (2009): Measuring what matters

The Economist (2011): Lies, flame-grilled lies and statistics

The Economist (2011): Beefed-up burgernomics

Topic 2: Growth

2.1 Growth facts and the Malthusian model

Lecture 2

Problem set 2; PS2 solutions

RR: Williamson: Macroeconomics, chapter 6 (pp 190-207)

AR:

The Economist (2009): Falling fertility

The Economist (2009): Go forth and multiply a lot less

2.2 The Solow model

Lecture 3

Problem set 3; PS3 solutions

RR: Williamson: Macroeconomics, chapter 6 (pp 207-225)

Lecture 4

Problem set 4; PS4 solutions

RR: Williamson: Macroeconomics, chapter 6 & 7 (pp 207-245)

AR:

Lucas (1990): Why Doesn't Capital Flow from Rich to Poor Countries?

Baumol (1990): Entrepreneurship: Productive, Unproductive, and Destructive

Olson (1996): Big Bills Left on the Sidewalk: Why Some Nations are Rich, and Others Poor

2.3 Endogenous Growth Models

Lecture 5

Problem set 5; PS5 solutions

RR: Williamson: Macroeconomics, chapter 7

AR:

Lucas (2000): Some Macroeconomics for the 21st Century

The Economist (2011): Catching up is so very hard to do

The Economist (2013): Has the ideas machine broken down?

Topic 3: One period general equilibrium model

Lecture 6

Problem set 6; PS6 solutions

RR: Williamson: Macroeconomics, chapter 4 & 5 (pp 102-160)

AR: Weintraub (1992): Neoclassical Economics

Lecture 7

Group assignment 2, ***hand in by the 24th of March midnight***, 25% of your final grade.

RR: Williamson: Macroeconomics, chapter 3 & 5 (pp 70-100 & 160-188)

AR: The Economist (2008): Redefining recessions

Topic 4: Unemployment

Lecture 8

Problem set 7; PS7 solutions

RR: Williamson: Macroeconomics, chapter 17 (pp 608-640)

AR: The Economist (2011): Winners and losers

The Economist (2011): The great mismatch

Topic 5: Consumption - Saving Over Time

Lecture 9

Lecture 10

Problem set 8; PS8 solutions

Problem set 9; PS9 solutions

RR: Williamson: Macroeconomics, chapter 8 & 9 (pp 262-337)

AR: The Economist (2009): From Ozzie to Ricky

Topic 6: Investment

Lecture 11

RR: Williamson: Macroeconomics, chapter 10

Topic 7: A Dynamic Micro-founded Macroeconomic Model

Lecture 12

Problem set 10; PS10 solutions

RR: Williamson: Macroeconomics, chapter 10