SemesterSpring Semester, 2021
DepartmentMA Program of Economics, First Year MA Program of Economics, Second Year
Course NameMacroeconomic Theory (II)
InstructorWU JHIH-CHIAN
Credit3.0
Course TypeRequired
Prerequisite
Course Objective
Course Description
Course Schedule































































































































































週次



Week



課程主題



Topic



課程內容與指定閱讀



Content and Reading Assignment



教學活動與作業



Teaching Activities and Homework



學習投入時間



Student workload expectation



課堂講授



In-class Hours



課程前後



Outside-of-class Hours



1



(2/23)



Course Introduction



Please watch the lecture Video for Solow Model before lecture 2



 



Assignment-0 Assigned



3



3



2



(3/2)



a. Review: Solow Model



b. Two Periods Model



Please watch the lecture Video for

Two Periods Model for Endowment Economy before lecture 3



Review Assignment 0 to Understand



1. Stationary Model



2. Balanced Growth Path



3. Assignment 1 Assigned



3



3



3



(3/9)



Two Periods Model  



Please watch the lecture Video for

Two Periods Model for Production Economy before lecture 4



Review Assignment 1 to Understand



1.Endowment Economy



2. Arrow-Debreu Equilibrium & Sequential Market Equilibrium



 



3. Assignment 2 Assigned



3



3



4



(3/16)



Two Periods Model



Please watch the lecture Video for

Multiple Periods Model for Endowment Economy before lecture 5



Review Assignment 2 to Understand



1.Market Economy



2. Social Planner



 



3. Assignment 3 Assigned



3



3



5



(3/23)



Multiple Periods Model: Endowment Economy



Please watch the lecture Video for

Multiple Periods Model for Production Economy before lecture 6



Review Assignment 3 to Understand



1. Extension of Periods based on Two Periods Model



2. Expectation



3. Assignment 4 Assigned



3



3



6



(3/30)



Multiple Periods Model: Production Economy



Please watch the lecture Video for

Real Business Cycle Model: Basic before lecture 7



Review Assignment 4 to Understand



1. Production Economy in Multiple Periods Model



2. What’s a DSGE Model



3. Assignment 5 Assigned



 



 



7



(4/6)



Real Business Cycle Model



Please watch the lecture Video for

Real Business Cycle Model: Analysis before lecture 8



Review Assignment 5 to Understand



1. What’s Real Business Model



2. How to Solve a DSGE Model



3. Assignment 6 Assigned



4. Practical Problem Set for Midterm Posted



3



3



8



(4/13)



Real Business Cycle Model



No Assigned Video. Please prepare midterm



1. Review Assignment 6 to Understand Calibration, Simulation, Wedge, and Impulse Response Functions



2. Review Practical Problem Set for Midterm



 



 



9



(4/20)



Midterm



No Assigned Video. We will review midterm in week 10



 



3



3



10



(4/27)



Review Midterm and give midterm exam back to students



Please watch the lecture Video for

New Keynesian Model: Basic before lecture 11



1. Help students review midterm



2. Check if they have questions about what they learn so far



3. Assignment 7 Assigned



 



 



11



(5/4)



New Keynesian Model



Please watch the lecture Video for

New Keynesian Model: Nominal Rigidity I before lecture 12



Review Assignment 7 to Understand



1. Cashless Model



2. Real Rigidity



3. Assignment 8 Assigned



3



3



12



(5/11)



New Keynesian Model



Please watch the lecture Video for

New Keynesian Model: Nominal Rigidity II before lecture 13



Review Assignment 8 to Understand



1. Nominal Rigidity



2. Classical Phillips Curve: Difference between NK and RBC



3. Assignment 9 Assigned



3



3



13



(5/18)



New Keynesian Model



Please watch the lecture Video for

NK Model and Monetary Policy before lecture 14



Review Assignment 9 to Understand



1. Calvo Pricing



2. NK Phillips Curve



3. Assignment 10 Assigned



3



3



14



(5/25)



New Keynesian Model and VAR



Please watch the lecture Video for

Macroeconometrics: VAR before lecture 15



Review Assignment 10 to Understand



1. Monetary Policy



2. Interest Rate Determinacy



3. Assignment 11 Assigned



3



3



15



(6/1)



Macroeconometrics



Please watch the lecture Video for

Macroeconometrics: Bayesian Method before lecture 16



Review Assignment 11 to Understand



1. Reduced and Structure VAR



2. Kalman Filter and State Space Model



4. Assignment 12 Assigned



3



3



16



(6/8)



Macroeconometrics



Please watch the lecture Video for

Macroeconometrics: Estimation before lecture 17



Review Assignment 12 to Understand



1. Frequentist Approach



2. Bayesian Approach and Bayesian VAR



4. Practical Problem Set for Final Posted



3



3



17



(6/15)



Review Session



No Assigned Video. Please prepare final exam.



Review what we learn through Practical Problem Set for Final.



3



3



18



(6/22)



Final



 


 

3



3



Teaching Methods
Teaching Assistant

TBA


Requirement/Grading

(1) Midterm (4/20):40%



(2) Final (6/22):45%



(3) Assignments:15%



We will have total 12 weekly assignments. Please upload the assignment before deadline


Textbook & Reference

Textbook:



I don’t assign textbooks for this course. I will use my lecture notes for teaching. The lecture notes will be uploaded before class in Moodle



 



References (Not Required):



Intermediate Macroeconomics, Julio Garin, Robert Lester and Eric Sims



https://www3.nd.edu/~esims1/gls_textbook.html



Galí, 2008. Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press.



DeJong and Dave, 2011. Structural Macroeconometrics, Princeton University Press.



Ljungqvist and Sargent, 2012. Recursive Macroeconomic Theory, MIT Press.



 



Python & Dynare Resource:



Python:



https://lectures.quantecon.org/



Dynare:



Callum Jones and Mariano Kulish, A Practical Introduction to DSGE Modeling with Dynare



https://callumjones.github.io/files/dynare_man.pdf


Urls about Course
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