W3213: Intermediate Macroeconomics
Professor Xavier Sala-i-Martin
Fall 2009 Syllabus
There is NO textbook for this course.
If you want to purchase a textbook, the best options are
Stephen Williamson's "Macroeconomics" (Second Edition) published by
Robert Barro's "Macroeconomics" (5th Edition, MIT Press).
List of Topics
- Introduction. Short-Run Business Cycles versus Long-Run Growth. Theories
and Empirical Evidence. Classical versus Keynesian
- The Long Run:
- The State of the World
- Physical Capital Accumulation: The Solow-Swan Model.
- The AK model. The Convergence Debate
- Poverty Traps and Development Aid
- Human Capital Accumulation: Fertility, Education, and Health
- The Economics of Ideas: History of Technology. Technological progress.
Time inconsistency. Health Research.
- The Short Run:
- Equilibrium: Classical Macroeconomics
- Robinson Crusoe: Leisure and Consumption in a Static Model. Preferences
and Budget Constraints. Substitution and Wealth Effects.
- Credit Markets, Leisure and Consumption in a Dynamic Model. Intertemporal
Substitution Effects. Theories of the Consumption Function. Aggregate Supply
and Demand Functions.
- Money Demand.
- Putting things together: The Basic Market Clearing Model. The Neutrality
- Investment, Firm Behavior and Business Cycles.
- Disequilibrium: Keynesian Economics
- Nominal Stuff: The three basic assumptions that distinguish the classical approach from
the Keynesian approach. The IS/LM model. Keynesian Monetary Policy.
- Government and Fiscal Policy
- Public Spending. Its role in the Market Clearing Model. Its role in the Keynesian model.
- Taxes, Transfers, and Distortions. The Laffer Curve and Supply Side Economics.
- Debts, and Deficits. The Keynesian approach. The Ricardian Equivalence Theorem of Debt
- There will be (almost) weekly problem sets during the semester.
Some of the Problem
Set Questions will be graded randomly. Questions and Answers will be posted in the course web page.
- MIDTERM EXAM: There will be one midterm. Date:
Wednesday November the 7th
- FINAL EXAM: TBA
where PS is the grade of Problem Sets, M is the grade for the midterm and
F is the grade for the Final. The grade for the midterm will count ONLY if
it is favorable (that is, if M>F, then M gets 30% of the weight and F gets
50% but if M<F, then M gets 0% and F 80%).
- Mondays, Mondays 4:30-5:30pm
- Office: Department of Economics (International Affairs Building), Room 1005
- Phone: 1 212 854 7055
- My E-mail address is: firstname.lastname@example.org
- Most questions can be better and faster answered by e-mail. It would be a great idea to
email me before making the trip to the department of economics.
- The Solemn M&M Peanut Minute Award Ceremony
will be held on the last day of class.