Economics 7344 
Macroeconomic Theory II
Spring 2007




Detailed syllabus for exam


TA is Hong Li. Her office hours are Thursday 1-3pm in room 207.


TA  Session will be Friday 11.30-1pm  in Rm 212. Starting January 27.


NOTE: No class Wednesday April 11, we will use the TA time Friday April 13 for make-up class

Midterm dates--- Midterm 1: Monday February 26th,    Midterm 2: Monday April 2nd.

FINAL date is Thursday May 3rd. FINAL IS AT 11.30 in ROOM M106 (you should count on 2 hours).

Review session Tuesday 1pm in room 212.

Last year’s first midterm exam

Last year’s second midterm exam

Last year’s final

Spring 2005 second midterm exam


Lecture Notes by John Driscoll of the Federal Reserve Board   (

(I recommend that you read Chapter 2  as a supplement to Romer’s Chapter 5).

Please send any comments (typos, errors, …that you may find) to


 (Some notes are recently written or re-written and may contain some errors or typos. Please let me know if you spot any.)
  NEW: Guide to Romer Chapter 5.

  Short Introduction to Time Series
   Permanent Income and Measurement Error in Consumption Functions (slightly revised 2/28)

  The general Euler Equation and Hall's version of the PIH

  Excess Sensitivity, Rule-of-Thumb Consumers and IV estimation

  The Impact of Income "Shocks" on Consumption and ``Excess Smoothness' of Consumption"

  The Impact of Interest Rates on Consumption

  The Consumption CAPM


  Ostergaard, Sorensen, Yosha, JPE 2002


Assignment                      Due 

HW #1 

 pdf                                  1/29

HW #2

 pdf                                   2/5

HW #3

 pdf                                   2/14

HW #4

 pdf                                    2/21

HW #5

 pdf                                    3/7

HW #6

 pdf                                    3/21

HW #7

 pdf                                    3/28

HW #8

 pdf                                    4/16

HW #9

 pdf                                    4/23

HW #10