Econ 2202: Intermediate Macroeconomics

This class is usually taught in several sections, and this page is relevant for section 1 taught by Christian Zimmermann. This section meets on Mondays, Wednesdays and Fridays 10:00-10:50 in FS 103 (Family Science Building).

Office hours for this class are Monday 1:30-4:30, or by appointment, in Monteith 318.


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. I will not use PowerPoint. Those who have a used textbook may not be able to log into the website, as the codes expire after a session (once used).

A third edition of the book is now available. You may still use the first or second editions without much loss. The second and third editions have some added material that is covered by supplementary material that you can download in the schedule below. There is a cheaper, online version of the textbook at CourseSmart.

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.


This is a tentative schedule and I will amend it as we progress. The recommended exercices are from the book (C=Chapter, Q=Questions for review, P=Problems). Use also the study guide along with the above (S=Short answer question, G=Graphical/numerical question). The study guide has its own set of problems, with answers.

And to help you follow the class, the list of symbols used. Starting lecture 30, you may want to use this model template. The schedule is subject to changes in terms of content, dates for all evaluations are firm.

Textbook pagesRecommended Exercices
DateTopicEd. 3Ed. 2Ed. 3Ed. 2
131 AugCourse Introduction
22 SepMacroeconomic measurement I37-5937-56
34 SepMacroeconomic measurement II37-5937-56C2: Q1-5, Q7-10, Q15, P1-6, P12, S1-4, S6-9, S12-14, G1-2C2: Q1-5, Q7-10, Q15, P1-6, S1-4, S6-9, S12-14, G1-2
49 SepDealing with business cycle data 67-76, notes 1-1163-74, notes 1-11
511 SepBusiness cycle facts I76-88, notes 12-2174-84, notes 12-21
614 SepBusiness cycle facts II76-88, notes 12-2174-84, notes 12-21C3: Q1-2, Q7, S1-3C3: Q1-4, S1-3
716 SepQuiz 1, Business cycles facts III, Data problem handed outnotes 12-21notes 12-21
818 SepHousehold decisions I99-11291-104
920 SepHousehold decisions II99-11291-104C4: Q1-9, P3, P5-6, S1-2, G1-2, G6C4: Q1-9, P3, P5-6, S1-2, G1-2, G6
1023 SepFirm decisions I112-128104-120C4: Q10-13, P8-9, S3, G3-4C4: Q10-13, P7-8, S3, G3-4
1125 SepQuiz 2, Firm decisions II, A first macroeconomic model: statics I129-133, 139-142122-126, 133-136C4: Q5, P5, P8-9, S5, G5, G7-8C4: Q5, P5, P7-8, S5, G5, G7-8
1228 SepA first macroeconomic model: statics II
1330 SepData problem due, Review session
142 OctMid-term IMaterial: all until class 13Material: all until class 13
155 OctA first macroeconomic model: statics III142-163136-157C5: S2-5, S7, S10-13, G2-3C5: S2-5, S7, S10-13, G2-3
167 OctGrowth: the Maltusian model I189-199174-185
179 OctGrowth: the Maltusian model II, Modern stylized facts I184-199, notes 8-12168-185, notes 8-12C6: Q3-5, P1-2C6: S10-14, G3, Q3-5, P1-2
1812 OctGrowth: modern stylized facts II184-189, notes 8-12168-174, notes 8-12C6: S1, Q2C6: S1, Q2
1914 OctQuiz 3. Growth: the Solow model I
2016 OctGrowth: the Solow model II200-212185-198C6: S3-7 Q6-9, P3-5C6: S3-7, Q6-9, P3-5
2119 OctGrowth: technology, growth accounting213-220199-219C6: S15, S17, G1-2, Q15, P6, P10-11C6: S15, S17, G1-2, Q14, P6, P9-10
2221 OctEndogenous growth: a survey I
2323 OctEngogenous growth: a survey II236-244220-231C7: S5-10, S12-13, Q5-9, P4C7: S5-10, S12-13, Q5-9, P4
2426 OctQuiz 4. Bringing some dynamics: consumption and savings I253-279237-265C8: S1-6, G1, G4, Q1-2, Q4-11, Q13-14, P1, P3-4C8: S1-6, G1, G4, Q1-2, Q4-11, Q13-14, P1, P3-4
2526 OctBringing some dynamics: consumption and savings II253-279237-265C8: S1-6, G1, G4, Q1-2, Q4-11, Q13-14, P1, P3-4C8: S1-6, G1, G4, Q1-2, Q4-11, Q13-14, P1, P3-4
2630 OctBringing some dynamics: Ricardian equivalence279-298265-283C8: S8-9, G6, Q17-22, P6, P9C8: S8-9, G6, Q17-22, P6, P9
272 NovAbout fiscal policy
284 NovReview session
296 NovMid-term IIMaterial: classes 15-28Material: classes 15-28
309 NovBringing some dynamics: investment and interest rates 311-335293-315C9: S4-6, G1, Q4-8, P1-2C9: S4-6, G1, Q4-8, P1-2
3111 NovBringing some dynamics: investment and interest rates 311-335293-315C9: S4-6, G1, Q4-8, P1-2C9: S4-6, G1, Q4-8, P1-2
3213 NovNo class!
3316 NovBringing some dynamics: market equilibrium335-346315-327
3418 NovBringing some dynamics: policy346-352327-333C9: S11, Q12-16, P9-10, P12C9: S11, Q12-16, P8-9, P11
3520 NovQuiz 5, Fiscal policy
3630 NovMoney: what it is, Extra-credit problem handed out, Teacher evaluation363-368, 560-566349-354, 536-542C10: S1, Q1, C15: S1-4, Q1, Q3C10: S1, Q1, C15: S1-4, Q1, Q3
372 DecMoney: what it does I369-379, notes354-363, notesC10: S2-3, G1, P1, Q2-3C10: S2-3, G1, P1, Q2-3
384 DecMoney: what it does II
397 DecMoney: what it does III379-391363-373C10: S4, Q4, Q9, P3-5C10: S4, Q4, Q9, P1-3
409 DecMoney: policy391-397, 566-575543-550, 375-378 (incomplete)C10: S5-6, Q5-6, Q12-13, P8, C15: S9, Q7, P5C10: S5-6, Q5-6, C15: Q7, P7
4111 DecQuiz 6, Extra-credit problem due, Review session
Dec 14,
Final examMaterial: all of the above with strong emphasis on classes 30-41Material: all of the above with strong emphasis on classes 30-41


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:

15/30% means that the lowest of the mid-terms and final will count for 15%, the two others for 30%. A 5% extra-credit project will also be offered towards the end of the term. 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 from previous times I taught this class. Note however, that the order of the material has changed. Watch therefore for class titles: Spring 2003, Fall 2003, Spring 2004, Fall 2004, Fall 2005, Spring 2006, Fall 2006 and Fall 2007. If I encourage you to do particular exercices, keep in mind that I may ask similar questions.

Mailing list

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.

To contact me: Phone: 6-3272, Email:

Supplementary material and links

Classified by chapter.
1. Introduction
2. Measurement: Gross Domestic Product, Prices, Savings, and Wealth.
Data sources
Statistical offices around the world.
The Boskin Report
3. Measurement: Business Cycles.
The Hodrick-Prescott filter, various codes for various softwares, in particular a web interface.
The article that first used the Hodrick-Prescott filter. Published two decades after its writing...
US business cycle dates, as determined by the NBER.
An article on stylized facts for US business cycles.
A working paper with stylized facts for many countries.
An 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 Maximization.
5. A Closed-Economy One-Period Macroeconomic Model.
6. Economic Growth.
Economic Growth Resources
Malthus' Essay on the Principle of Population.
The Penn World Tables.
An interactive tutorial for the Solow growth model (bad link, try this)
Robert Solow
Simon Kuznets
7. Income Disparity and Endogenous Growth
Paul Romer
8. A Two-Period Model: The Consumption-Savings Decision and Ricardian Equivalence.
9. Investment and the Determination of Aggregate Output, the Real Interest Rate, and Employment.
10. A Model of a Monetary Economy: Money Neutrality, Long-Run Inflation, and Money Demand.
Canadian Tire Money
Milton Friedman