syllabus ecn 7240 2010

syllabus ecn 7240 2010 - (McGraw-Hill Irwin New York...

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ECN/APEC 7240 Spring 2010 MacroEcon Theory II Professor: James Feigenbaum B620 [email protected] Class Time: 4:00 PM – 5:15 PM Mondays and Wednesdays B318 Office Hours: 1:00 – 2:00 PM Mondays and Wednesdays, or by appointment Course Description: At least in the academic world, modern macroeconomics has been conquered by recursive methods. All current information about the economy is summarized by a vector in a state space. Models are solved by determining the optimal behavior as a function of the current state and the resulting transition probabilities to next period’s state vector. We will use this approach to study real business cycles, consumption and saving, unemployment, fiscal policy, asset pricing, and other important topics in macroeconomics. Textbooks: Romer, David, (2006), Advanced Macroeconomics
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Unformatted text preview: (McGraw-Hill Irwin: New York). Ljungqvist, Lars and Thomas J. Sargent, (2004), Recursive Macroeconomic Theory (MIT Press: Cambridge). Notes: The material presented in class will be available in the form of Powerpoint slides on the class website. Grading: There will be two exams, each contributing 35% of your grade. The remaining 30% will be based on homework. Assignments: You will be assigned weekly homeworks each Wednesday, which are due on the following Wednesday. You may discuss how to solve these problems with other students and, indeed, are encouraged to do so. Topic Outline: I. Real Business Cycle Theory II. Recursive Methods III. Search Models of Unemployment IV. Complete Markets Equilibria V. Asset Pricing VI. Fiscal Policy VII. Incomplete Markets...
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