Economics 714

Macroeconomic Theory II

Spring 2018

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

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

Lectures:
Lectures: Monday and Wednesday from 11:00-12:15, Birge B302

TA: Anson Zhou, email: anson.zhou@wisc.edu

Syllabus

Lecture notes and other material:

Lecture 1 : The Lucas asset pricing model
Lecture 2: Dynamics, completeness, asset pricing
Lecture 3: Asset pricing and the equity premium puzzle || Related reading: Cochrane (2016) recent survey of macro finance asset pricing models
Lecture 4: Equity premium, complete markets
Lecture 5: Complete and incomplete markets
Lecture 6: Search equilibrium
Lecture 7: More on search
Lecture 8: Fiscal policy in the growth model
Lecture 9: Optimal fiscal policy
Lecture 10: Optimal taxation with private information (longer overview slides), Static Mirrlees model (from Bolton and Dewatripont, 2005).
Lecture 11: Money in a neoclassical framework
Lecture 12: Search theoretic models of money
Lecture 13: The New Keynesian model

Problem Sets:

Problem Set 1 Due in class on 2/14 (updated)
Problem Set 2 Due in class on 2/28
Problem Set 3 Due in class on 3/7.

Exams:

Midterm (Final for this part) Exam in class on March 12.