502 ECO

This course is a survey of modern macroeconomics at a quite advanced level. Topics include the neoclassical growth model, overlapping generations, endogenous growth models, business cycles, incomplete nominal adjustment, incomplete financial markets, fiscal and monetary policy, consumption and savings, and unemployment. The course is also gives an introduction to the mathematical tools used in modern macroeconomics, including dynamic systems, optimal control, and dynamic programming.
 The main text for the course is David Romer, Advanced Macroeconomics, 2 nd Edition (New York: McGraw Hill, 2001).
Supplementary readings include lecture notes, which I will distribute as we proceed, as well as journal articles and selections from other books. This course is a communications intensive subject. Assignments include six problem sets (approximately one every second week) and one Essay. The problem sets will count for a total of 20% of the final grade. The Essay will count for 30%. There will also be a midterm and a final examination, which will count for 25% of the grade each.