empirical and quantitative tools;
Presentation of Group Project;
Homework Practice problem solving, apply 3,4,5,6,7,8
assignments and models to analyze current economic
Essay Analysis issues
Course Outline:
I Long-run Growth
1. Facts of Economic Growth (Notes, Chapter 4, GLS) -Week 1-2
2. The Basic Solow Model (Notes, Chapter 5, GLS) – Week 2-3
3. The Augmented Solow Model (Notes, Chapter 6, GLS) - Week 3-4
4. Understanding Cross-Country Income Differences (Notes, Chapter 7, GLS) -Week 4-5
II Microfoundation of Macroeconomics
1. A simple two-period model of consumption and saving (Notes, Chapter 9, GLS) -Week 5-
6
2. Production Economy and General Equilibrium Approach (Notes, Chapter 11-12 GLS) –
Week 6-7
We will have a midterm during class time in Week 6 or 7 (tentatively Monday, October 16,
2023).
III Business Cycle
1. Real Business Cycle (Notes) - Week 7-9
2. New Keysian IS-LM-AS-AD Model (Notes,) – Week 9-10
Reference for Real Business Cycle is Chapter 18-20, GSL, and reference for New Keysian Model
is Chapter 24-25. But these chapters are long and complicated. My notes will be simpler. You
can focus on the notes.
IV Financial Market and Policy Discussion
1. Yield Curve and Monetary Policy (Blanchard Chapter 14.1-14.2, Chapter 34, GSL), Week
10-11
2. Financial Crisis and Policy Response (Chapter 36 and 37, GSL) Week 11-12
