Economics 7344

Professor Bent Sorensen

Macro II

Spring 2023

I do not have set hours, but you can email or approach me any time (except before classes Mon-Wed)

TA: Sterre Kuipers, Email: shkuiper@CougarNet.UH.EDU

NOTE: The class on Wednesday 4/5 will be online as I am out of town.

FINAL (for the second part): Monday 5/1 in the usual class slot.

2020 Macro IIb final

2022 Macro IIb final

Notes (I may not get to all of them):

The material is covered by notes. We may not get to all of it. There will be no major changes, but there will be smaller updates. (Updated versions marked 2023.)

Short Introduction to Time Series (2023)
Permanent Income and Measurement Error in Consumption Functions
The general Euler Equation and Hall's version of the PIH (2023)
Excess Sensitivity, Rule-of-Thumb Consumers and IV estimation (2023)
The Impact of Income Shocks on Consumption and `Excess Smoothness' of Consumption (2023)
The Impact of Interest Rates on Consumption (2022 update)
The CAPM Model
Efficient Markets (2023)
The Consumption CAPM (2023)
The Equity Premium Puzzle
The Term Structure of Interest Rates (2023)
Notes on Obstfeld-Rogoff Chapter 5
Note on Market Spanning (updated to be more rigorous 2022)
Astrubali, Sorensen, and Yosha, QJE 1996


Assignment           Due

Homework 1          Wed 3/29

Homework 2          Wed 4/5

Homework 3          Wed 4/12

Homework 4          Wed 4/19

Homework 5          Monday 4/24