WEERACHART T. KILENTHONG

ps6-2013-old EC 431: Advanced Macroeconomics

Academic Year 2013

First Semester

Time: 1.30 -4.30 pm

Location: Room: 10406

Instructor: Weerachart Kilenthong

Email: tee@riped.utcc.ac.th

Web: riped.utcc.ac.th/tee

Office Hours: Thursday 2-4 pm or by appointment (via email) at the 7th floor of the 21st building

Teaching Assistant: Warut Samart

Email: warut@riped.org

Office Hours: Monday 1-3 pm

 

Announcement

    New Problem set and new lecture notes have been posted on August 6, 2013!

 

Previous Midterm Exam

Description: This course studies micro-founded macroeconomic models. Concepts and tools from microeconomics will be applied to macroeconomic issues, including economic growth, business cycles, labor market, inflation, credit markets, fiscal and monetary policies, financial intermediation, nominal rigidity The topics will be presented and analyzed using simple mathematical models with emphasis on general equilibrium and intertemporal economic analysis. The primary goal of this class is to introduce some of standard tools, widely used in modern macroeconomics and necessary to understand articles both in the press and academic journals. This course is demanding and highly quantitative.

Grading:

1. Assignments                         30 % (6-8 problem sets)

2. Midterm exam                       30 %

3. Final exam                            40 %

Textbooks:

1. Doepke, M., Lehnert, A., and Sellgren A. (2001) Macroeconmics. Online lecture notes. Downloadable at http://faculty.wcas.northwestern.edu/~mdo738/book.htm. (DLS)

2. Champ, B. and Freeman, S. (2001) Modeling Monetary Economics. Cambridge University Press. (CF)

3. Barro, Robert (2008) Macroeconomics: A Modern approach. Thomson. (B)

4. Romer, David (1996) Advance Macroeconomics. McGraw-Hill International Editions. (R)

Lecture Notes:

1. Intertemporal Allocation and Equilibrium Interest Rate

2. General Equilibrium (Lecture note in Thai)

3. Neoclassical Growth Theory

4. Total Factor Productivity (in Thai)

5. Model Calibration (in Thai)

6. Business Cycles 

7. Money and Inflation (Thai)

8. Optimal Monetary Policies

9. Optimal Fiscal Policies

Problem Assignments

1. Problem Set 1  and Optional Problem 

2. Problem Set 2

3. Problem Set 3

4. Problem Set 4

5. Problem Set 5

6. Problem Set 6

7. Problem Set 7

Tentative Lecture Schedule:

Week

Topics

Recommended Reading

1

Introduction and review of microeconomics and mathematics

 

2

Intertemporal Allocation and Equilibrium Interest Rate

DLS Chp. 3

3

General Equilibrium

DLS Chp. 5

4-5

Neoclassical Growth Theory

DLS Chp. 11

6

National Income Account and Total Factor Productivity

Lecture note  and B Chp. 2

7

Business Cycles

DLS Chp. 9

9-10

Optimal Fiscal Policies

CF Chp. 13-14

 

 

 

11

Inflation

DLS Chp. 14

12-13

Optimal Monetary Policy

DLS Chp. 19 and CF Chp. 5

14

Financial Intermediation

DLS Chp. 17

15

Nominal Rigidity

B Chp. 16