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Institute of Business and Management

National Chiao Tung University

Course ID

IBM

Course Name

Advanced Macroeconomics

Credit hours

3

Instructor

Jin-Li Hu

Prerequisites

Calculus, Economics

Textbooks

Ljungqvist, L. and Sargent, T. (2004), Recursive Macroeconomic Theory, 2nd ed., Cambridge (MA): MIT Press.

References

Romer, D. (2006). Advanced Macroeconomic Theory, 3rd edition. Columbus (Ohio):  McGraw-Hill.

Objective of the Course

This course provides basic trainings of macroeconomics for Ph.D. students and MBA students who are interested in academic or policy studies.  Mathematical modeling with applications to macroeconomic policy analysis will be emphasized.

 

Course outlines

PART I THE IMPERIALISM OF RECURSIVE METHODS

Ch.1 Overview

 

PART II TOOLS

Ch.2 Time Series

Ch.3 Dynamic Programming

Ch.4 Practical Dynamic Programming

Ch.5 Linear-Quadratic Dynamic Programming

Ch.6 Search, Matching, and Unemployment

 

PART III COMPETITIVE EQUILIBRIA AND APPLICATIONS

Ch.7 Recursive (Partial) Equilibrium

Ch.8 Equilibrium with Complete Markets

Ch.9 Overlapping Generations Models

Ch.10 Ricardian Equivalence

Ch.11 Fiscal Policies in the Growth Model

Ch.12 Recursive Competitive Equilibria

Ch.13 Asset Pricing

Ch.14 Economic Growth

Ch.15 Optimal Taxation with Commitment

 

PART IV THE SAVINGS PROBLEM AND BEWLEY MODELS

Ch.16 Self-Insurance

Ch.17 Incomplete Markets Models

 

PART V RECURSIVE CONTRACTS

Ch.18 Dynamic Stackelberg Problems

Ch.19 Insurance versus Incentives

Ch.20 Equilibrium without Commitment

Ch.21 Optimal Unemployment Insurance

Ch.22 Credible Government Policies

Ch.23 Two Topics in International Trade
 

PART VI CLASSICAL MONETARY ECONOMICS AND SEARCH

Ch.24 Fiscal-Monetary Theories of Inflation

Ch.25 Credit and Currency

Ch.26 Equilibrium Search and Matching

 

Course requirements

Class attendance (30%), homework (30%), midterm exam (20%), final exam (20%)

Correspondence

E-mail:  jinlihu@yahoo.com

URL:  http://jinlihu.tripod.com