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Winter 2014 Syllabus (Overview)

Economics 398 Winter 2014
MWF 1:25 am – 2:20 pm, Huntley 220

Econ 398 has two goals. The first is to develop a full research proposal. The second is to examine an array of topics in macroeconomics beyond those typically covered in Econ 211, using analysis of “the” multiplier (and hence whether fiscal policy can do anything) as a foil. That in turn will consist of two pieces. One is examining the methodology (and hence the strengths and weaknesses) of empirical macroeconomics, including a brief introduction to time series econometrics. The other is to look at the core structure of the models in wide use in contemporary macroeconomics. You will encounter the Solow growth model that is the “engine” of (almost) all modern models, one implementation of rational expectations, and the use of representative agents in an overlapping generations framework, all combined to create one or another “grand” DSGE model – to be defined when the time comes. Click the Syllabus tab at the top of the page for details.

For the first part you obviously write a long paper. For the second we read and discuss academic papers, supplemented by homework assignments and position papers. To keep us grounded, you will be asked to do a regular blog on macroeconomic topics. See below for posts from last year, and a recent post of mine.