Econ 2004
Topics in Macroeconomics 2
Semester 2 Academic Year 2009-10
Office Hours (58/3013): Wednesdays 14.00 to 16.00
or by
appointment (alicesch@soton.ac.uk)
Announcements
All lecture slides and
problem sets will become downloadable in Adobe PDF format as we go along.
To get Adobe Reader, click here.
Lectures
Chapter 1: (Febuary 1 & 5, 2010): Introduction (timetable, slides, additional
slides, additional slide, BBC link, recent
inflation)
Chapter 2: (Febuary 8 & 12, 2010): Measurement (slides)
Chapter 3: (Febuary 15, 2010): Business Cycle
Measurement (slides)
Chapter 4: (Febuary 19 & 22, 2010): Consumer and
Firm Behaviour (slides)
Chapter 5: (Febuary 22, March 1 & 5, 2010): Closed
Economy One-Period Macroeconomic Model (slides)
Chapter 8, Part I: (March 12 & 15, 2010): A
Two-Period Model: The Consumption-Savings Decision (slides)
Chapter 8, Part II: (March 15 & April 19, 2010): A
Two-Period Model: The Government and the Ricardian Equivalence (slides)
Chapter 9, Part I: (April 26, 2010): A Real
Intertemporal Model: Setup and Definition of Equilibrium (slides)
Chapter 9, Part II: (April 30, 2010): A Real
Intertemporal Model: Output Supply and Demand and Experiments (slides)
Chapter 10: (May 7, 2010): A Monetary
IntertemporalModel: Money, Prices, and Monetary Policy (slides)
Additional readings by topic
Chapter 1 in Williamson’s book, in particular
“Understanding recent and Current Events”. Familiarize
yourself with the vocabulary at the end of the chapter and start trying out the
exercises suggested in the book. Also, think about how (your) personal experiences
in the crisis differ from the average seen in the data. What are the advantages
and disadvantages of looking at averages?
Chapter 2 in Williamson’s book.
Familiarize yourself with the vocabulary at the end of the chapter and start
trying out the exercises suggested in the book.
Chapter 3 in Williamson’s book.
Familiarize yourself with the vocabulary at the end of the chapter and start
trying out the exercises suggested in the book. For additional readings and
links to them click here.
Chapter
4 in Williamson’s book. Familiarize yourself with the vocabulary at the end of
the chapter and start trying out the exercises suggested in the book.
Chapter 5 in Williamson’s book.
Familiarize yourself with the vocabulary at the end of the chapter and start
trying out the exercises suggested in the book.
Independent
study: Chapters 6 and 7 in Williamson’s book.
Chapter 8 in Williamson’s book.
Familiarize yourself with the vocabulary at the end of the chapter and start trying
out the exercises suggested in the book.
Chapter 9 in Williamson’s book.
Familiarize yourself with the vocabulary at the end of the chapter and start
trying out the exercises suggested in the book.
Chapter
10 in Williamson’s book. Familiarize yourself with the vocabulary at the end of
the chapter and start trying out the exercises suggested in the book.
Practice and Prep for Master Classes
Preparation
for Master Class 1:
Solve
the problems at the end of Chapers 1 and 2, please ask
questions in Master Class
These
questions are to be addressed in Master Class 1: MC1
Preparation
for Master Class 2:
Solve
the problems at the end of Chapers 3 and 4, please ask
questions in Master Class
These
questions are to be addressed in Master Class 1: MC2
Preparation
for Master Classes 3&4:
Solve
the problems at the end of Chaper 5, please ask
questions in Master Class
These
questions are to be addressed in Master Classes 3&4: MC3&4
Quiz 1 Results: Quiz 1
Preparation
for Master Classes 5&6:
Solve
the problems at the end of Chaper 8, please ask
questions in Master Class
These
questions are to be addressed in Master Classes 5&6: MC5&6
Preparation
for Master Classes 7:
Solve
the problems at the end of Chaper 9, please ask
questions in Master Class
The
following questions are to be addressed in Master Class 7:
-
What is the effect of a war which
decreases the current capital stock on current output, current consumption,
current investment, current employment, current wages and the interest rate?
-
Suppose a new invention for which a
blueprint exists is expected to increase future total factor productivity. What
is the effect on current and future output, current and future consumption,
current investment, current and future employment, current and future wages and
the interest rate?