Macro 1 - Tepper School of Business

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Notes: [PDF] - updated 11/11/2017 7:43 PM

Lecture 1: Slides - [PDF]
  • Discussed basic stylized facts about business cycle and growth
  • Started our main framework to think about these facts.
  • If you want to read more on growth facts and observations, this is a very nice paper by Chad Jones and Paul Romer - The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital - [PDF]
​Lecture 2
  • Continued the discussion of the main framework: discussed Pareto optimality, welfare theorems, aggregation and recursive representation of the model.
​Lecture 3
  • Used the recursive representation of the problem to discuss its long-run behavior.
  • Added population and productivity growth. Discussed balanced growth path and showed that the model with population and productivity growth converges to a balanced growth path.
​Lecture 4
  • Worked on the AK model and showed that growth is endogenous.
  • Showed that the AKH model has a similar property.
​Lecture 5
  • Worked on the growth model in continuous time.
  • Growth with externalities a la Romer.
​Lecture 6
  • Growth and innovation a la Romer (1990)
  • Started to discuss taxation and fiscal policy in our models
Problem Sets
Problem Set 1 - [PDF] - Due on 11/3/2017 - Solution by Andre - [PDF]
Problem Set 2 - [PDF] - Due on 11/10/2017 - Solution by Andre - [PDF]
Problem Set 3 - [PDF] - Due on 11/20/2017 - Solution by Andre - [PDF]
Problem Set 4 - [PDF] - Due on 11/29/2017 - Solution by Andre - [PDF]
Problem Set 5 - [PDF] - Due on 12/11/2017

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