SemesterSpring Semester, 2021
DepartmentMA Program of International Business, First Year PhD Program of International Business, First Year MA Program of International Business, Second Year PhD Program of International Business, Second Year
Course NameMacroeconomic Theory (I)
InstructorARAI NATSUKI
Credit3.0
Course TypeElective
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



2/24



Growth Theory in Long Run



Growth models (Solow and Ramsey)



(Romer Ch.1&2)



Lecture



3



3



2



3/3



OLG model



(Romer Ch.2)



Lecture



3



3



3



3/10



Endogenous growth theory (Romer Ch. 3)



1st Homework



3



3



4



3/17



Introduction to Dynamic Programming (DP)



Numerical example of dynamic programming (AC Ch.1-2)



Lecture



3



3



5



3/24



Consumption



Applications in consumption: Equity premium puzzle, Random walk hypothesis (Romer Ch.8)



1st Homework Due



3



3



6



(3/31)



 



FIRST MID TERM



(Growth theory and DP)



1st midterm



3



3



7



(4/7)



Nominal Rigidity



Introduction to Nominal rigidity



(Romer Ch.6)



Lecture



3



3



8



(4/14)



Efficiency Wages



(Romer Ch.11)



Lecture



3



3



9



(4/21)



New Keynesian Model



Classical Monetary Model (Gali Ch.2)



2nd Homework



3



3



10



(4/28)



Basics of new Keynesian model (Gali Ch.3)



Lecture



 3



3



11



(5/5)



Implication for monetary policy (Gali Ch.4)



2nd Homework Due



3



3



12



(5/12)



 



SECOND MID TERM



(Consumption and Nominal Rigidity)



2nd midterm



 



3



3



13



(5/19)



No class (school holiday)



14



(5/26)



Topics in monetary  policy



Basics of VAR



(KL Ch.2)



3rd Homework



3



3



15



(6/2)



Monetary non neutrality



(Nakamura and Steinsson slides)



Lecture



3



3



16



(6/9)



Monetary policy at zero lower bound



(Romer Ch. 12)



3rd Homework Due



3



3



17



(6/16)



 



FINAL EXAM



(NK model and Monetary policy)



Final exam



3



3



18



(6/23)



Final discussion



 



Final discussion



3



3


             


 



 



Class Attendance: Class attendance is strongly recommended. Students registered for the course who do not regularly come to class may receive a grade of ND. However, I do not take attendance in a regular basis and the grades are granted based on exams.



 



Policy on missed exam: The dates of the midterm and final exams are fixed. Students who experience a serious medical condition that requires immediate attention from a physician, or an emergency that prevents them from taking the exam may be excused. However, students must contact the instructor before the exam and must verify their condition by official documents. No exceptions will be made for job interviews, holiday travel, or other non-academic activities. When a student is properly excused from an exam, no make-up exam will be offered. Instead, his or her course grade will be adjusted based on other exams and homeworks.



 



Policy on Regrading: If, after reviewing the exam answers, a student feels that there is a grading mistake on his or her exam, that student can submit a re-grade request. The student must submit a written discussion within one week from the time at which the exams are handed back. When regrade request is accepted, the entire exam will be regraded, which could lower the score as well.



 



Academic Dishonesty: Cheating hurts our community by undermining academic integrity, creating mistrust and fostering unfair competition. The university will punish cheaters with failure on an



assignment, failure in a course, permanent transcript notation and/or expulsion. Violations can include cheating on exams, plagiarism, reuse of assignments without permission, improper use of the Internet and electronic devices, unauthorized collaboration, alteration of graded assignments, forgery, falsification and lying.


Teaching Methods
Teaching Assistant

TBD


Requirement/Grading

Evaluation:




  • Homework (3): 15 percent

  • Midterm 1: 25 percent

  • Midterm 2: 25 percent

  • Final exam: 35 percent





Homework: I will assign 3 homeworks during the semester. Late homeworks will not be accepted. The tentative schedule of homework is as follows: 1st Homework: (3/11, due 3/25), 2nd Homework: (4/22, due 5/6), 3rd homework (5/13, due 6/3)





Exam Times:           




  • Midterm 1: Wednesday April 1, in class time.

  • Midterm 2: Wednesday, May 13, in class time.

  • Final: Wednesday, June 17, in class time


Textbook & Reference

The main textbook is




  • “Advanced macroeconomics (4th Edition or after)” by David Romer.



 



Some of the material follows




  • “Dynamic Economics: Quantitative Methods and Applications” by Jerome Adda and Russell W. Cooper

  • “Monetary Policy, Inflation, and the Business Cycle” by Jordi Gali



“Structural Vector Autoregressive Analysis” by Lutz Kilian and Helmut Lütkepohl


Urls about Course
NCCU E-learning website (https://moodle.nccu.edu.tw/) Relevant class material will be posted on the course website. Homework assignments and notifications will be also available there.
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