Economics 7344 
Macroeconomic Theory II
Spring 2014




TA is Celine Boulinger. Her office hours are Tuesday 2.30-4pm in Rm 203A.


TA Session will be Friday 1pm-2.30pm in Rm 212. 


NOTE: Celine will teach time series on Friday 1/17 continuing from where we got to in class.


NOTE: Celine will take questions for midterm 2 in class on Monday the 31st. (I will be in Barcelona that week but you can still email questions.)

Midterm 1: Wednesday February 26 in class

Midterm 2: Wednesday April 2 in class. (Celine and/or my RA will proctor.)

FINAL date is Monday April 28, 1pm-2.30 pm in 212.

Last year’s first midterm exam

Last year’s second midterm exam

Last year’s final


  Short Introduction to Time Series

  Note on IS-LM
   Permanent Income and Measurement Error in Consumption Functions

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

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

  The Impact of Interest Rates on Consumption

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

The CAPM Model

 Efficient Markets

 The Consumption CAPM

 The Term Structure of Interest Rates (updated)

  Notes on Obstfeld-Rogoff Chapter 5  (last version: April 28, 2011)

  Ostergaard, Sorensen, Yosha, JPE 2002

Astrubali, Sorensen, Yosha, QJE 1996

Note on Market Spanning



Assignment                      Due 

HW #1 

  Pdf                                 Wed 1/22

HW #2

  Pdf                                 Wed 1/29

HW #3

  Pdf                                 Fri 2/7

HW #4                                            Pdf                                 Wed 2/12



HW #5

  Pdf                                 Wed 2/19

HW #6

   Pdf                                 Mon 2/24 (not to be graded)

HW #7

   Pdf                                 Wed 3/19

HW #8

   Pdf                                 Wed 3/26

HW #9

   Pdf                                 Mon 3/31 (not to be graded)

HW #10

   Pdf                                 Wed 4/16

HW #11

    Pdf                                 Wed 4/23