Business 33-040:  Macroeconomics

Erik Hurst

Final

Final Answers

Winter 2013 Syllabus

Winter 2013 Reading List

NEW: MACRO ANALYSIS WORKSHEET

Macro Analysis Worksheet (with gridlines)

  How to Access Readings from Economist Online

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Links to Readings Not From the Economist or BusinessWeek

Artilcle 1 "Size Does Matter:  In Defense of Macroeconomics" (by Krugman, published in Slate on 7/10/98)

Article 2 "Baby Sitting the Economy" (by Krugman, published in Slate on 8/14/98)

Article 4 "Diamond and Kashyap Primer"

Article 10 "U.S. Economy Weakened Years Before Crash" (cnn.com)

Article 16: "Interview With Eugene Fama" (New Yorker blog)

Article 17 "How Did Economists Get it So Wrong" (by Krugman, published in NY Times Mag 9/2/09)

Article 18 "Cochrane's Response to Krugman"

Article 20: Role of Prices in Measuring Poor's Living Standards

Article 26: Damn Lies and Statistics (BusinessWeek)

Article 28: Which of These is Not Like the Others (Economist Blog)

Article 32 "Why Employers are Slow to Fill Jobs" (Bloomberg.com)

Article 48 "The Tax and Spending Compromise/

The Tax Deal - A Second Stimulus?" (read both Becker and Posner's posts, 12/26/2010)

Article 49: "The New Vodoo" (Paul Krugman, 12/30/2010)

Article 50: "The Blur Betwen Spending and Taxes" (Greg Mankiw in New York Times, 2/20/2010)

Article 51 "Why the War Against Terror Will Boost the Economy" (by Robert Barro, BusinessWeek, 1/11/05)

Article 54 "Ugly Modeling" (by Veronique de Rugy, Reason, June 2011)

Article 55 "Government Spending is No Free Lunch" (by Robert Barro, WSJ, 1/22/2009)

Article 68 '2 Million 'Open Jobs'? Yes, Bust U.S. Has Skills Mismatch" (NPR, 1/15/2011)

Article 69 "Severance Pay for the Unemployed" (by Ed Glaeser in Boston Globe, 11/29/2012)

Article 70 "What Happened to the Phillips Curve" (by DeLong, NY Times 3/9/2000)

Article 73 "Monetary Rules" (by Gramlich, Federal Reserve Speech, 2/27/98)

Article 74 "Central Bank Independence, Transparency, and Accountability" (by Bernake, Federal Reserve Speech, 5/25/10)

Article 80 "The Financial Crisis and the Bailout:  A Primer" (by Steve Kaplan)

Article 89 "As 'Junk' Bonds Fall, Some Blame Fed" (WSJ, 6/10/2011)

Article 93 "Lone German Keynesians: Advocates of Pooling Euro Debt" (Bloomberg Markets Magazine 12/6/2012)

Article 94 "A Falling Dollar Will Mean a Faster U.S. Recovery" (Marty Feldstein, WSJ, 8/1/2011)

Article 96 "Greece as a Victim" (Paul Krugman, NYT, 6/17/2012)

Article 96: What Explains the Industrial Revolution in East Asia? Evidence from Factor Markets" (by Chang-Tai Hsieh)

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Erik's Supplemental Course Notes

Notes 1:  Real versus Nominal Variables

Notes 2:  The Yield Curve

Notes 3:  The Aggregate Production Function

Notes 4:  Labor Markets and Unemployment

Notes 5:  Investment and Inventories

Notes 6:  Consumption Overview

Notes 7:  Consumption and Taxes

Notes Extra:   Transfers

Notes 8:  The Banking System, Money Supply and Money Demand

Notes 9:  Putting the Economy Together - the IS/LM Curves

Notes 10:  An Equation Based Model of the Macroeconomy

Notes 11:  Examples of Fiscal Policy - Government Spending and Taxes

Notes 12:  Monetary Neutrality

Notes 13:  Summary of G increasing with/with out Fed Intervention

Notes 14:  Examples in Action - the 1990 recession, the 1974 recession, and
the expansion of the late 1990s

Notes 15:  International Economics

* Those Outside the University of Chicago - Do not cite or reproduce any of the above notes
without permission from Professor Hurst

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A History of Monetary Policy in Action
(these are real world policy discussions that we can understand
- usually I editorialize/comment within the article)

Greenspan Testimony: Feb. 2000 Testimony to Congress on Monetary Policy *

Greenspan Testimony: Feb 2001 Testimony to Congress on Monetary Policy

Greenspan Testimony on Fiscal Policy:  March 2001

Greenspan Testimony:  Feb. 2002 Testimony to Congress on Monetary Policy

Greenspan Testimony: Feb. 2003 Testimony to Congress on Monetary Policy *

 Greenspan Testimony: Feb. 2004 Testiminony to Congress on Monetary Policy

Greenspan Testimony:  Feb 2005 Testimony to Congress on Monetary Policy

Bernanke Testimony:  Feb 2006 Testimony to Congress on Monetary Policy *

Bernanke Testimony: Feb. 2007 Testimony to Congress on Monetary Policy *

Bernanke Testimony: July 2007 Testimony to Congress on Monetary Policy

Bernanke Testimony:  November 2007 Testimony to Joint Economic Committee of Congress   

Bernanke Testimony: February 2008 Testimony to Congress on Monetary Policy

Bernanke Testimony:  February 2009 Testimony to Congress on Monetary Policy *

Bernanke Testimony:  February 2010 Testimony to Congress on Monetary Policy

Bernanke Testimony:  July 2011 Testimony to Congress on Monetary Policy *

Bernanke Testimony:  February 2012 Testimony to Congress on Monetary Policy *

Bernanke Testimony:  February 2013 Testimony to Congress on Monetary Policy *

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