Econ 219: Intermediate Macroeconomics
Welcome to this web page! This class is usually taught in several
sections, and this page is relevant for the section taught by Christian
Zimmermann. This section meets on Tuesdays and Thursdays 11:00 AM to
12:15 PM in room 217, Monteith Building.
Office hours for this class are Tuesdays and Thursdays 9:00 AM to 10:30 AM
or by appointment.
This class will use the following textbook: Macroeconomics, by Steve
Williamson. It should be available at the UConn Bookstore (Co-op). Each
new book comes with a code that allows you to register on the publisher web site and enjoy some
supplementary material, such as the study guide (which I will encourage
you to use), Conference Board data and
PowerPoint files. We may use
Conference Board data (or some other data). I will not use PowerPoint.
Those who have a used textbook main not be able to log into the website,
as the codes expire after a session (when used).
We will not cover every chapter of the textbook, and I will cover some
material not covered in the textbook. Supplementary material along with
links to more on certain topics on the web are provided below.
The schedule is still a little bit up in the air. This is a tentative
schedule and I will amend it as we progress. The recommended exercices are
from the study guide (C=Chapter, S=Short answer question,
measurement I||39-63||C2: S1-6, S8-9, S12, G1-2|
|3||27 Jan||Dealing with business cycle data
||65-75, notes 1-11|
cycle facts I||75-83, notes 12-21||C3:
|5||3 Feb||Quiz 1 (solution),
cycles facts II, Data problem handed
decisions I||89-103||C4: S1-2, G1-2, G6|
|7||10 Feb||Household decisions
II, Firm decisions I||103-120||C4: S3, G3-4|
decisions I, A first macroeconomic model:
statics I||120-126, 131-134||C4: S5, G5|
|9||17 Feb||Quiz 2 (solution), A first
macroeconomic model: statics II||134-149||C5: S2-5, S7, S10-12, G3|
|10||19 Feb||Data problem due, Review
I||Material: all until page 146|
|12||26 Feb||Bringing some
dynamics: consumption and savings||165-192||C6: S1-2,
|13||2 Mar||Bringing some
dynamics: Ricardian equivalence||192-204||C6: S8-9,
|14||4 Mar||Quiz 3, Bringing
some dynamics: investment and investment
some dynamics: market equilibrium I||235-249||C7: S1-4,
Bringing some dynamics:
policy; Growth introduction||249-259||C7: S7-9, G2|
|17||23 Mar||Quiz 4, Growth:
the Maltusian model||notes 1-8|
|18||25 Mar||Growth: modern stylized
|19||1 Apr||Growth: Growth accounting, the
Solow revisited, Golden Rules||280-297||C8: S3-7,
|23||15 Apr||Engogenous growth: a
|24||20 Apr||Quiz 5, Money: what
it is||317-323, 513-520||C9: S1, C14: S1-4|
|25||22 Apr||Money: what
it does I, Teacher evaluation||323-339||C9: G1, S2-4|
|26||27 Apr ||Money: what
it does II||339-347||C9:
Quiz 6, Money: what
it does III||347-358||C9: S7-8|
|4 May, 10:30-12:30||Final
exam, Monteith 303||All of the above|
There will be two "mid-terms" and a final exam. Each will last a full
class. I will also sprinkle a certain number of quizzes here and there,
both to entice you to work without delay and to allow me to check whether we are
on the right track. The formula will be:
- 25% mid-term 1
- 25% mid-term 2
- 25% final exam
- 15% quizzes (five best of six)
- 10% data project
A word about grades. When I grade, the average is usually around 60%. This
allows me to reward better those who do well. Do not be too alarmed when
you get a grade that is lower than those you get in other classes. But if
it is really low, you should do something about it...
There are past exams available on the Spring
page and the Fall 2003 page. More are
on the Fall 2002 page,
but this class followed somewhat different schedule and/or material.
If I encourage you to do
exercices, keep in mind that I may ask similar questions.
Students registered for this class receive regular emails with various
updates about the material covered and about grading. Be sure to give me a
valid email address that you regularly use.
Supplementary material and links
Classified by chapter, not necessarily by the order we cover the topics in
To contact me:
Phone: 6-3272, Email: email@example.com
- 1. Introduction
- 2. Measurement: Gross Domestic Product, Prices, Savings, and
- Data sources
- 3. Measurement: Business Cycles.
- The Hodrick-Prescott
various codes for various softwares.
article that first used the Hodrick-Prescott filter. Published two
decades after its writing...
US business cycle
dates, as determined by the NBER.
article on stylized facts for US business cycles.
working paper with stylized facts for many countries.
article on the robustness of business cycles facts through time, in
particular the comovement between output and prices.
- 4. Consumer and Firm Behavior: The Work-Leisure Decision and Profit
- 5. A Closed-Economy One-Period Macroeconomic Model.
- 6. A Two-Period Model: The Consumption-Savings Decision and
- 7. Investment and the Determination of Aggregate Output, the Real
Interest Rate, and Employment.
- 8. Economic Growth.
- Economic Growth
Essay on the Principle of Population.
Penn World Tables.
interactive tutorial for the Solow growth model (bad link, try this)
- 9. A Model of a Monetary Economy: Money Neutrality, Long-Run
and Money Demand.
- 10. Keynesian Business Cycle Theory: The Sticky Wage Model.
- 11. Market-Clearing Models of the Business Cycle.
- The QM&RBC home page, with lots of
material on RBC theory.
article that started RBC theory.
critisism of RBC theory by Gregory Mankiw.
response by Charles Plosser
criticism of the representative agent construct.
response by Charles Plosser.
- 12. Trade in Goods and Assets.
- 13. Money in the Open Economy.
- 14. Money, Banking, and Central Banking.
- Central banks around
- 15. Unemployment: Search and Efficiency Wages.
- 16. Inflation, the Phillips Curve, and Central Bank Commitment.