Econ 501 General Macro Theory


Stephen L. Parente
Office: 118 David Kinley Hall
Office Hours: Tuesday, Thursday 12:30-1:30
Phone: 244-3625

This is the home page for Macro Theory. Below you will find copies of the syllabus, chapters, problem sets, notes, solution keys and links to articles.

The T.A. for the course is Mariya Shappo

Office Hours: MW 9:00-10:00 am, TR 11:00-12:00 pm, Location: 110 DKH.

Recitation:   Fridays, 11:00-12:20   123 DKH
No Recitations: February 16, March 2


Blogs and Important References
Economists do it with Models
Economic Report of the President Tables


Topic/Lecture Notes                                                                       Dates
Transformation of Macroeconomics                                         January 17
Micro Foundations and General Equilibrium                            January 22
Calbration Example Using Solow Growth Model                    January 24, 29
Labor/Leisure and Work Hour Differences                              January 31, February 5
Savings, Wealth and Government Finance                             February 7,12
Overlapping Generations Approach: Pension Reform            February 14, 19    Neat Graph 

Midterm Exam 1                                                                       February 26

Dynastic Approach: Tax Reform                                              February 21, 28
Business Cycle Facts                                                              March 5, 7
Real Business Cycle Theory                                                   March 12, 14
Monetary Business Cycle Theory                                            March 26, 28

Midterm II                                                                                April 9

Growth and Development Facts                                              April 2, 4
Endogenous Growth                                                               April 11
The Malthus Model                                                                 April 16, 18
Unified Growth Theory                                                            April 23, 25
Proximate and Fundamental Causes Differences                  April 30, May 1

FINAL EXAM: May 9  7:00-10:00 PM

Assigned Problem Sets:     
FRED PROJECT                                             Due  1/26
Microfoundations                                             Due 2/2
Solow Model                                                    Due 2/9
Solow Growth Accounting      Data                  Due 2/15
Work Hour Differences                                     Due 2/23
Saving and Ricardian Equivalence                   Due 2/23
Overlapping Generations Model                       Due 3/9
Neoclassical Growth Model and Tax Reform    Due 3/16
Tax Reform Python Code Python Instructions
HP Filter Instructions Code   Data          Due 3/30
RBC Project   Instructions RBC Code       Due 4/6
Penn World Tables Problem Set                Due 4/20
Groningen Growth and Development Centre
Feenstra, Inklaar and Timmer AER 2015
FRED add in
Endogenous vs Exogenous Growth and Malthus       Due 4/27
Starting Dates                                    Due 5/2  Just Questions 1-3 on front side
Capital Stock and GDP Excel File

Extra Exercises:

Capital and Income Shares      Data
Malthus Excel template
Japanese Growth Miracle

Djankov, S. La Porta, R., F. Lopez de Silanes, and A. Shleifer. 2002 The Regulation of Entry
Mankiw, G., D. Romer, and D. Weil (1991) Contributions to the Empirics of Growth
Rogerson, Richard: Taxation and Market Work: Is Scandinavia an Outlier?
Prescott, E.C. Why Do Americans work so much more than European?
HMS Treasury, The United States as a Monetary Union
Birkland and Prescott: On the Needed Quantity of Government Debt
Williamson, John Notional Defined Contribution
NBER Business Cycle Dating
McGratten, Ellen Business Cycle Accounting
Kydland, F. and E.C. Prescott Real Facts and a Monetary Myth
Prescott, E.C. Theory Ahead of Business Cycle Measurement
Ireland, Peter. Technology Shocks in the New Keynesian Model
Benigno, P. New Keynesian Economics: A Supply and Demand Approach

Keynes versus Hayek
Paul Romer  2009 Why the World Needs Charter Cities
Peter G. Peterson Foundation, I.O.U.S.A. The movie
Niall Ferguson, Peterson Institute Niarchos 2010 Lecture: Fiscal Crises and Empirical Collapse