Economics 702

Macroeconomics

Spring 2018

Professor:  Noah Williams
Office: 7434 Sewell Social Science, e-mail: nmwilliams@wisc.edu

Office hours: 2:30-3:30 Thusday, or by appointment.


TAs:

Yingtong Xie, email: yingtong.xie@wisc.edu

Junhyong Kim, email: jkim666@wisc.edu



Lectures: Tues-Thurs, 1:00-2:15, Social Science 5106




Syllabus
  Updated 4/23


Lecture Notes:

1/23:  Lecture 1    Labor supply ||  Related material: Aguiar et al (2016)
1/25:  Lecture 2    Labor demand || Related material: Evaluations of recent tax reform by Tax Foundation and Tax Policy Center
1/30:  Lecture 3    General equilibrium || Example problem from class
2/1:    Lecture 4    Equilibrium comparative statics, start of dynamics ||  Related Material: Evidence on government spending multiplier Ramey & Zubairy (2016)    
2/6:    Lecture 5    Dynamic model
2/8:    Lecture 6    Optimal allocation and dynamics
2/13:  Lecture 7    Dynamics and Growth  || Related Material: PBS story on Robert Gordon's book on growth
2/15:  Lecture 8    Solow growth model
2/20:  Lecture 9    Convergence, Optimal growth
2/22:  MIDTERM 1
2/27:  Lecture 10  Optimal growth, Endogenous growth
3/1:    Lecture 11  Consumption and savings
3/6:    Lecture 12  International trade, Notes on Comparative advantage || Related material: The China Shock  Wall St Journal article
3/8:    Lecture 13  Intertemporal choice
3/13:  Lecture 14  Applications, Dynamic general equilibrium
3/15:  Lecture 15  Dynamic general equilibrium
3/20:  Lecture 16  Real business cycles
3/22:  MIDTERM 2
4/3:    Lecture 17  Real business cycles, Money
4/5:    Lecture 18  Money
4/10:  Lecture 19  Monetary neutrality and non-neutralities || Related material:  On Milton Friedman's AEA Presidential Address
4/12:  Lecture 20  Phillips curve, Price stickiness || Nickel coke
4/19:  Lecture 21  Keynesian model and policy analysis
4/24:  Lecture 22  Liquidity traps, hyperinflation, monetary policy || Venezuela hyperinflation
4/26:  Lecture 23  Monetary policy
5/1:    Lecture 24  Unemployment || Tight regional labor markets (1)  Tight regional labor markets (2)
5/3:    Lecture 25  Unemployment, Financial Crisis


Problem Sets and Other Materials:

For solutions and related material, see the TA web page

Problem Set 1, due in class on 2/8.

Problem Set 2, due in class on 2/20.

Problem Set 3, due in class on 3/13. 3/15

Problem Set 4, due in class on 4/17

Problem Set 5, due in class on May 3.





Exams:


Midterm Exam #1: in class on
February 22

Previous year's first midterm exams (note that they came slightly later in the class):  2017  2016


Midterm Exam #2 in class on March 22 (note changed date from originally announced)


Final Exam will be on Tuesday, May 8  from 10:00 AM-12:00 PM in Social Science 5206

Last year's exam: 2017