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    Macroeconomics II-Course Outine, WS18

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    This document outlines the course details for Macroeconomics II, including the course description, prerequisites, evaluation criteria, required readings, and topic schedule. The course builds on foundations from Macroeconomics I to investigate business cycle fluctuations through topics like stochastic optimal growth, real business cycles, nominal rigidities, and imperfections in credit and labor markets. Students will be evaluated based on their performance on tests and a term paper.

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    Macroeconomics II-Course Outine, WS18

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    This document outlines the course details for Macroeconomics II, including the course description, prerequisites, evaluation criteria, required readings, and topic schedule. The course builds on foundations from Macroeconomics I to investigate business cycle fluctuations through topics like stochastic optimal growth, real business cycles, nominal rigidities, and imperfections in credit and labor markets. Students will be evaluated based on their performance on tests and a term paper.

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    This document outlines the course details for Macroeconomics II, including the course description, prerequisites, evaluation criteria, required readings, and topic schedule. The course builds on foundations from Macroeconomics I to investigate business cycle fluctuations through topics like stochastic optimal growth, real business cycles, nominal rigidities, and imperfections in credit and labor markets. Students will be evaluated based on their performance on tests and a term paper.

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    26 views3 pages

    Macroeconomics II-Course Outine, WS18

    Uploaded by

    SamuelAugustin
    This document outlines the course details for Macroeconomics II, including the course description, prerequisites, evaluation criteria, required readings, and topic schedule. The course builds on foundations from Macroeconomics I to investigate business cycle fluctuations through topics like stochastic optimal growth, real business cycles, nominal rigidities, and imperfections in credit and labor markets. Students will be evaluated based on their performance on tests and a term paper.

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    Bharat Ratna Dr. B.R.

    Ambedkar University
    School of Liberal Studies
    M.A. Economics

    MACROECONOMICS II
    Course Outline, Winter 2018

    Instructor: Jyotirmoy Bhattacharya

    Course Description

    This is the second course of the core macroeconomics sequence. It will build on the
    common foundations developed in Macroeconomics I to investigate the nature of
    business cycle fluctuations.

    Prerequisites

    Macroeconomics I, Microeconomics I

    Mode of evaluation

    Best two of three tests: 35% each.


    Term paper: 30%.

    Readings

    [BF] Galí, Monetary Policy, Inflation and the Business Cycle, Princeton University Press

    [R] Romer, Advanced Macroeconomics, 4th ed., McGraw Hill.


    Topic Readings

    1. Stochastic optimal growth and general Ljungqvist, L. and Sargent, T.J. Recursive
    equilibrium. Macroeconomic Theory, 3rd ed.,
    Chapter 8,12
    2. Real business cycles Prescott, E. C. (1986, November). ‘Theory
    ahead of business-cycle measurement.’
    In Carnegie-Rochester Conference
    Series on Public Policy (Vol. 25, pp.
    11-44). North-Holland.
    Summers, L. H. (1986). ‘Some skeptical
    observations on real business cycle
    theory.’ Federal Reserve Bank of
    Minneapolis Quarterly Review, pp. 23-
    27.
    Prescott, E.C. (1986). ‘Response to a
    Skeptic.’ Federal Reserve Bank of
    Minneapolis Quarterly Review, pp. 23-
    27
    [These papers are reprinted in Miller, P.J.
    (1994), The Rational Expectations
    Revolution: Readings from the Front
    Line and Salyer, K.D. and Hartley J.
    (1998) Real Business Cycles: A
    Reader]
    3. Solving multivariate linear rational- Miao, Economic Dynamics in Discrete
    expectations models Time, chapters 1 & 2

    4. Nominal Rigidities [R], Ch. 6B

    Klenow and Malin. “Microeconomic


    Evidence on Price-Setting” in
    Friedman and Woodford (eds)
    Handbook of Monetary Economics,
    Vol 3 (2010)

    Caplin, Andrew S., and Daniel F. Spulber.


    “Menu Costs and the Neutrality of
    Money.” The Quarterly Journal of
    Economics (1987): 703-726.

    5. The New-Keynesian Framework for [G], Ch. 1-3


    Monetary Economics
    6. Credit market imperfections [R] Ch. 9

    7. Labor market imprefections [R] Ch 10

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