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 MidTerm One Topics: Intro to Macro, Economics Growth, Production, Solow Model, Romer Growth Model (Ideas), Inflation. Book Chapters 16 & 8
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  Chapter 5  Solow Model  Chapter 6  Growth & Ideas 
Resources for MidTerm TwoTopics: Intro to the ShortRun & IS Curve, Monetary Policy and the Phillips Curve, and Stabilization Policy. Book Problem Solutions (Jones Macroeconomics Crisis Ed) Actual, Potential & Shortrun 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 shortrun outputs, what shifts it, and given alternative setups; be able to find the new IS curve equation) Permanent Income Theory (intuition and simple applications, how it informs the IS curve)
ISMP Macroeconomic Modeling (ISMP 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 timeseries of Output (Ytilde), Inflation, Employment and Interest Rates.
Financial Crisis Chapters
Financial crisis spreading between financial institutions. Leverage ration. Systemic Risk.
Financial Crisis and the ISMP 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 percapital production. Be able to discuss effects of free trade.
Resources for Final  The final is cumulative. Topics: Intro to the ShortRun & IS Curve, Monetary Policy and the Phillips Curve, and Stabilization Policy. 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)
Office Hours E2, Room 403 (Map) Fridays from 111pm My Sections Mondays, 5:006:10pm, Kresgie 323 Wednesday, 12:301:40pm, College 8, 250
Tentative Exam & Due Dates Oct 18  Exam One Grade Breakdown Nov 3  Exam Two Grade Breakdown Dec 5  Noon3:00pm, Final Exam
MSI Meeting Times Mon 12:301:40PM, ARC Center 202 Thurs 23:15PM, Porter 241 Wed 56:10PM, Crown 104


