Econ 2202: Intermediate Macroeconomics

This class is usually taught in several sections, and this page is relevant for section 4 taught by Christian Zimmermann. This section meets on Tuesdays and Thursdays 9:30-10:45 in Arjona 115.

Office hours for this class are Wednesday 7:30-12:00, 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). The publisher web site and enjoy some supplementary material, such as Conference Board data, PowerPoint files and glossary flashcards. I will not use those. You may want to use the study guide, which unfortunately has to be bought separately (4th ed, 3rd ed).

A fourth edition of the book is now available. You may still use the third or second editions without much loss. The fourth 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. This schedule is subject to changes in terms of content, dates for all evaluations are firm.

Textbook pagesRecommended Exercices
DateTopicEd. 3Ed. 4Ed. 3Ed. 4
131 AugCourse Introduction
22 SepMacroeconomic measurement I37-5939-62C2: Q1-5, Q7-10, Q15, P1-6, P12, S1-4, S6-9, S12-14, G1-2C2: Q1-5, Q7-10, Q15, P1-6, P14, S1-4, S6-9, S12-13, S15, G1-2
37 SepDealing with business cycle data 67-76, notes 1-1170-81, notes 1-11
49 SepBusiness cycle facts I76-88, notes 12-2181-93, notes 12-21C3: Q1-2, Q7, S1-3C3: Q1-4, S1-3
514 SepQuiz 1, Business cycles facts II, Data problem handed outnotes 12-21notes 12-21
616 SepHousehold decisions I99-112102-116C4: Q1-9, P3, P5-6, S1-2, G1-2, G6C4: Q1-9, P4, P6-7, S1-2, G1-2, G6
721 SepHousehold decisions II, Firm decisions I112-128116-132C4: Q10-13, P8-9, S3, G3-4C4: Q10-13, P10-11, S3, G3-4
823 SepQuiz 2, Firm decisions I, A first macroeconomic model: statics I, data problem due129-133, 139-142134-138, 146-149C4: Q5, P5, P8-9, S5, G5, G7-8C4: Q5, P7, P10-11, S4, G5, G7-8
928 SepA first macroeconomic model: statics II142-163149-168C5: S2-5, S7, S10-13, G2-3C5: S2-5, S7, S10-13, G2-3
1030 SepMid-term IMaterial: all until class 9Material: all until class 9
115 OctGrowth: the Maltusian model189-199195-207C6: Q3-5, P1-2C6: S10-14, G3, Q3-5, P1-2
127 OctQuiz 3, Growth: modern stylized facts184-189, notes 8-12192-195, notes 8-12C6: S1, Q2C6: S1, Q2
1312 OctGrowth: the Solow model200-212207-219C6: S3-7 Q6-9, P3-5C6: S3-7, Q6-9, P3-5
1414 OctGrowth: technology, growth accounting213-220221-230C6: S15, S17, G1-2, Q15, P6, P10-11C6: S15, S17, G1-2, Q15, P6, P11-12
1519 OctQuiz 4. Engogenous growth: a survey230-244238-253C7: S5-10, S12-13, Q5-9, P4C7: S5-10, S12-13, Q5-9, P5
1621 OctBringing some dynamics: consumption and savings253-279262-289C8: S1-5, G1, G4, Q1-2, Q4-11, Q13-14, P1, P3-4C8: S1-5, G1, G4, Q1-2, Q4-11, Q13-14, P1, P3-4
1726 OctBringing some dynamics: Ricardian equivalence, credit market frictions279-288, 295-298 (incomplete)289-324C8: S8-9, G6, Q17-19, P6, P9C8: S7-8, G6, Q17-19, P6, P9
1828 OctBringing some dynamics: social security, investment and interest rates 288-294, 311-335327-364C8: Q20-22, C9: S4-6, G1, Q4-8, P1-2C9: Q8-10, C10: S4, S6, S8, G1, Q4-7, Q9, P1-2
192 NovBringing some dynamics: market equilibrium335-346364-377C9: S8-10, Q9-11, P3, P6C10: S10-12, Q10-12, P3, P5
204 NovBringing some dynamics: policy346-352378-386C9: S11, Q15-16, P9-10, P12C10: S12, Q15-16, P9-10, P12
219 NovQuiz 5, Money: what it is363-368, 560-566396-398, 571-577C10: S1, Q1, C15: S1-4, Q1, Q3C11: S2, Q1, C16: S1-4, Q1, Q3
2211 NovMoney: what it does I369-379, notes399-414, notesC10: S2-3, G1, P1, Q2-3C11: S3-5, G1, P1, Q2-3
2316 NovMid-term IIMaterial: classes 16-20Material: classes 16-20
2418 NovMoney: what it does II, Extra-credit problem handed out379-391415-425C10: S4, Q4, Q9, P3-5C11: S6, Q4, Q9, P1, P4, P6
2730 NovMoney: policy, Teacher evaluation391-397, 566-575425-430, 577-587C10: S5-6, Q5-6, Q12-13, P8, C15: S9, Q7, P5C11: S8, Q5-6, C16: Q7, P5
2 DecQuiz 6, Extra-credit problem due, Review session
16 Dec, 8-10amFinal examMaterial: all of the above with strong emphasis on classes 11-27Material: all of the above with strong emphasis on classes 11-27


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 grading. 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, Fall 2007 and Fall 2009. 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 their standing in the class. By default, I will use the email address recorded on PeopleSoft. If you prefer another one, please tell me.

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

Supplementary material and links

Classified by chapter.
1. Introduction
Stephen Williamson blog
2. Measurement
Data sources
Statistical offices around the world.
The Boskin Report
3. Business Cycle Measurement
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: Malthus and Solow
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 Among Countries and Endogenous Growth
Paul Romer
8. A Two-Period Model: The Consumption-Savings Decision and Credit markets
9. Credit market Imperfections: Credit Frictions, Financial Crises, and Social Security
10. A Real Intertemporal Model with Investment
11. Money, Banking, Prices and Monetary Policy
Canadian Tire Money
Milton Friedman