• Course Syllabus, 2009

• Macroeconomics links and data
  Links from my introductory macro course.

• Six Lectures on Depression Economics by Brad de Long, University of California, Berkeley. Required reading for this class.
  There are links to both PDF and EPUB version of de Long's course.

• Summary of DeLong on Depression Economics
  For the midterm exam review.

• Summary of Blanchard, chapters 2-5
  For the midterm exam review.

• Readings on Quantitative Easing These will be key readings for the second segment of the course, and I will expect a paper on them.

• Readings for Intermediate Macro

• Reports on the Financial Crisis

• The IS-LM model
  This will be the most frequently used model in the text.

Economic Growth Resources

• Penn World Table

• Cobb-Douglas Production Function
• The Solow Growth Model
• Multifactor Productivity

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• Recent developments in growth theory.
  • The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital by Paul Romer and Chad Jones. A very nice survey of how the world has changed since Solow, and how economists are trying to provide something more than a "blaze of amateur sociology" by modeling institutions. (May require access from a Pitt computer, despite the notice on the linked page that the paper is not restricted).
    Paul Romer has been the major figure in the field, with Chad Jones also being one of the most productive and most cited scholars.

  • Endogenous Technological Change by Paul Romer, Journal of Political Economy, 98:5(1990), pp. S71-S105.
  • Increasing Returns and Long Run Growth by Paul Romer, Journal of Political Economy, 94:5(1986),pp. 1002-37.
  • Why The World Needs Charter Cities video of his talk at TED.com, which stresses how institutional rules govern economic development.

  • Daron Acemoglu
    has provided the most interesting attempt since Paul Romer to do that modeling.

• Readings on Economic Growth Topics for papers:
  • Under Assignments, the Delong/Lucas papers .
  • Under History, Pritchett/Kremer for the REALLY long run.
  • Under History again, DeLong - more recent, but REALLY long.
  • Under Bibliography, the papers by Mankiw and Jones (more technical)

• Understanding Growth from Finance and Development , IMF, Mar. 2006. Several articles exploring growth. Articles which might form basis of a paper include:
  • "Getting the Diagnosis Right" by Ricardo Hausmann, Dani Rodrik, and Andres Velasco.
  • "The Quest Continues by Lant Pritchett.
  • "Levers for Growth" by Simon Johnson, Jonathan D. Ostry, and Arvind Subaramian.

• Knowledge and the Wealth of Nations by David Warsh. There are two possible topics to concentrate on:
  • The Solow Model. Part I, chapters 1-13, concentrating on chapters 8-13.
  • The Romer Model. Part II, chapters 14-23.

• National Economic Accounts from the Bureau of Economic Analysis.
  • Measuring the Economy: A Primer on GDP and the NIPA BEA, Sept. 2007.
  • Latest GDP news releases
    
  • NIPA National Income and Product Accounts
  • Integrated Macroeconomic Accounts
    May well be the future of our national accounts. See the explanation in Integrated Macroeconomic Accounts for the United States by Charlotte Anne Bond et al., Survey of Current Business, Feb. 2007.

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  • Livingston survey
  • Survey of Professional Forecasters
    Intermediate Macroeconomics

    Intermediate Macroeconomics

    

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    • Course Syllabus, 2009

    • Macroeconomics links and data
      Links from my introductory macro course.

    • Readings for Intermediate Macro

    • Reports on the Financial Crisis

    • The IS-LM model
      This will be the most frequently used model in the text.

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    • Employment and Unemployment

    • Inflation

    • Okun's Law

    • Review for Exam 2

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    Economic Growth Resources

    • Penn World Table

    • Cobb-Douglas Production Function
    • The Solow Growth Model
    • Multifactor Productivity

    • Readings on Economic Growth Read the following by Paul Romer, one of the leading economists in the field.
      • Economic Growth
        A brief article to appear in The Concise Encyclopedia of Economics, 2007.
      • Post-Scarcity Prophet
        An interview with Paul Romer, from Reason magazine.

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      Assignments: (choose ONE)

    • DeLong and Lucas on economic growth: It may help to know
      • deLong was the deputy to Clinton's Secretary of the Treasury, and has called for the impeachment of George W. Bush.
      • Lucas (Nobel Prize, 1995) can be counted on to take the conservative side of most issues, and signed a letter supporting Bush for the presidency in 2004.
      
      Would you expect them to be in conflict in evaluating the effects of economic growth?
      Are they?
      Your essay should not limit itself to a summary of their positions, but shold try to point out what they have in common and how they differ :
      • Do they disagree?
      • Are their disagreements fundamental or matters of emphasis?
      • Who seems more likely to stress problems connected with economic growth, and what problems ?
      • What benefits does each see coming from economic growth?
      • What problems does each see arising out of economic growth?
      • Do they think that the recent pace of growth will continue?
      1. Growth is Good by Brad de Long,
         Harvard Magazine, January-February, 2006.
         A review of Benjamin Friedman's The Moral Consequences of Economic Growth, New York, Knopf, 2005.

      2. The Industrial Revolution: Past and Future by Robert Lucas, The Region, Banking and Policy Issues Magazine of the Federal Reserve Bank of Minneapolis, 2003 Annual Report Issue.

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    • The Solow Growth Model
      Notes by Dr. McGahagan.

    • The Growth Model in Excel
      From David A. Kendrick, P.Ruben Mercado, and Hans M. Amann, Computational Economics , Princeton University Press, 2006.

    • Empirics of Economic Growth

    • Intellectual Property and Economic Growth

    • Moore's Law

    • Institutions and Economic Growth

    • Understanding Growth from Finance and Development , IMF, Mar. 2006. Several articles exploring growth. Articles which might form basis of a paper include:
      • "Getting the Diagnosis Right" by Ricardo Hausmann, Dani Rodrik, and Andres Velasco.
      • "The Quest Continues by Lant Pritchett.
      • "Levers for Growth" by Simon Johnson, Jonathan D. Ostry, and Arvind Subaramian.
      • "Getting the Diagnosis Right"
      • Knowledge and the Wealth of Nations by David Warsh.

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      • National Economic Accounts from the Bureau of Economic Analysis.
        • Measuring the Economy: A Primer on GDP and the NIPA BEA, Sept. 2007.
        • Latest GDP news releases
          
        • NIPA National Income and Product Accounts
        • Integrated Macroeconomic Accounts
          May well be the future of our national accounts. See the explanation in Integrated Macroeconomic Accounts for the United States by Charlotte Anne Bond et al., Survey of Current Business, Feb. 2007.

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        • Livingston survey
        • Survey of Professional Forecasters

          Macroeconomic blogs

          • Greg Mankiw
          • Mark Thoma Economist's View
        • Understanding Growth from Finance and Development , IMF, Mar. 2006. Several articles exploring growth. Articles which might form basis of a paper include:
          • "Getting the Diagnosis Right" by Ricardo Hausmann, Dani Rodrik, and Andres Velasco.
          • "The Quest Continues by Lant Pritchett.
          • "Levers for Growth" by Simon Johnson, Jonathan D. Ostry, and Arvind Subaramian.
        • Knowledge and the Wealth of Nations by David Warsh.

        ---

        • National Economic Accounts from the Bureau of Economic Analysis.
          • Measuring the Economy: A Primer on GDP and the NIPA BEA, Sept. 2007.
          • Latest GDP news releases
            
          • NIPA National Income and Product Accounts
          • Integrated Macroeconomic Accounts
            May well be the future of our national accounts. See the explanation in Integrated Macroeconomic Accounts for the United States by Charlotte Anne Bond et al., Survey of Current Business, Feb. 2007.

          ---

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          • Livingston survey
          • Survey of Professional Forecasters

            Macroeconomic blogs

            • Greg Mankiw
            • Mark Thoma Economist's View