ECON5011: Macroeconomics (MA)

University of Washington in St Louis, 2022 Fall




 Teaching Assistants

Course Description

The objective of this course is to introduce you to the study of macroeconomics at the advanced level. This means that we will use rigorous models and employ (dynamic) optimization techniques to present and analyze macroeconomic theories. A common theme across the models we will study is that economic aggregates are the equilibrium result of the optimizing decisions made by rational agents at the individual level. We will employ this rigorous approach, not as an end, but as a means to obtain disciplined insights into the important questions that trouble macroeconomists. The topics we will cover include economic growth, inequality, business cycle fluctuations, employment and unemployment, and fiscal and monetary policy.

Textbooks and Papers


Scheme B: Assignment #1: 5% + Assignment #2: 10% + Exam#1: 35% + Exam#2: 50%

Total: Maximum of Scheme A and B.

Tentative List of Topics, Reading List, and Slides 

#1: Introduction and Modern Macroeconomics Framework

#2: Solow Growth Model

#3: Neoclassical growth model and Overlapping Generations Model

#4: Decline in Labor Share

#8: Business cycle facts and theory. 

#9: Real Business Cycle Theory

#10: Cash-In-Advance Model and  3 Equation New Keynesian Model

#11: Inequality and Macroeconomics

#12: Economies with Heterogenous Households: Permanent Income Hypothesis (PIH) and Standard Incomplete Markets (SIM) Models

#13: Covid 19 and the Economy

#5: Endogenous Growth Models: The AK Model, Human Capital Model, R&D Model

#6: Cross-country Income Differences

#11: Unemployment and Labor Search Models