Econ 100B Intermediate MacroEconomics (Homework and exam examples)


The Gorry Details
Econ 100B Macro – Professor Aspen Gorry – Fall 2011


Book solutions are from: 
Macroeconomics: Economic Crisis Update by Charles Jones
W. W. Norton & Company; Revised edition edition (December 1, 2009)



Resources for Mid-Term One
Topics: Intro to Macro, Economics Growth, Production, Solow Model, Romer Growth Model (Ideas), Inflation.
Book Chapters 1-6 & 8

Practice and Previous Problems & Solutions.
My best attempts at these previous and practice exam problems. I'm sure there are some errors here-&-there.

Book Problem Solutions (Jones Macroeconomics Crisis Ed)
Chapter 1 - Intro to Macroeconomics - No Review Questions
Chapter 2 - Measurement -
Chapter 3 - Economics Growth -
Chapter 4 - Production -
                     Returns to Scale Overview (vid 22:30)
Chapter 5 - Solow Model -
Chapter 6 - Growth & Ideas -

Resources for Mid-Term Two
Topics: Intro to the Short-Run & IS Curve, Monetary Policy and the Phillips Curve, and Stabilization Policy.
Book Chapters 9-12

Book Problem Solutions (Jones Macroeconomics Crisis Ed)
Actual, Potential & Short-run Output (their definitions & intuition, graph), Phillips Curve (meaning, equation, graph, determinants of slope), Okun's Law (equation, intuition) 
IS Curve (know how to derive it with alterations, intuition, solve for hypothetical short-run outputs, what shifts it, and given alternative set-ups; be able to find the new IS curve equation) Permanent Income Theory (intuition and simple applications, how it informs the IS curve)
IS-MP Macroeconomic Modeling (IS-MP diagram, hypothetical economic shocks, lots of intuition)
Derive AD Curve from IS & MP rule. Derive AS curve from Phillips curve and other intuition. Be able to explain economic intuition underpinning each equation. Given any temporary shock, be able to walk through AD/AS diagram analysis - with what happens after shock subsides. Be able to discuss time-series of Output (Y-tilde), Inflation, Employment and Interest Rates.



Financial Crisis Chapters
Financial crisis spreading between financial institutions. Leverage ration. Systemic Risk.
Financial Crisis and the IS-MP and AS/AD framework.
Intertemporal Government Constraint, Ricardian Equivalence, Permanent Income Hypothesis. 

Comparative Advantage. Given population, productivity tables, & spending preferences - find under Autarky & Free Trade: production levels, prices (comparative advantages), wages, and per-capital production. Be able to discuss effects of free trade.


Resources for Final - The final is cumulative.
Topics: Intro to the Short-Run & IS Curve, Monetary Policy and the Phillips Curve, and Stabilization Policy.
Book Chapters 7, 13-16

Book Problem Solutions (Jones Macroeconomics Crisis Ed)

Labor Markets Chapters
Standard Labor Market Model - charts & equations.
Present discounted value of lifetime earnings. Standard model of labor market; find w*, L* and derive impact of minimum wage and shocks. Labor Search (not in book). 
Standard Model (with taxes & with minimum wage), Simple McCall Labor Search & some true/false/uncertain questions.




Macroeconomics: Economic Crisis Update 

by Charles Jones

W. W. Norton & Company

Revised edition edition

(December 1, 2009)










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    Tentative Exam & Due Dates  
     Oct 18 - Exam One
  Grade Breakdown
     Nov 3 - Exam Two  
Grade Breakdown
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