Macro II (Econ 606)
Jonathan
Heathcote
Tuesday
/ Thursday 4.15-5.30, ICC 116
Office
Hours: ICC 553, Weds 2-3pm and by appointment
Email:
jhh9@georgetown.edu
Web:
www.jonathanheathcote.com
TA:
Alejandro Badel
Email:
ab377@georgetown.edu
Course Description: This will be a
pretty standard first-year macro course. In teaching first-year macro, some
people focus more on theory, others more on calibration and measurement, others
on numerical solution methods. A typical macroeconomic research paper has to
address each element satisfactorily in order to be publishable, and I will
therefore spend some time on each.
Goals: By the end of the
class, you should understand:
We
will almost exclusively focus on economies in which agents are infinitely-lived
and time is discrete. I won’t say much about economic growth or monetary and
fiscal policy (you discussed these topics to some extent with Prof. Diba) and I won’t say much about a range of potentially
important frictions, such price stickiness, limited information, or enforcement
constraints
References:
Recursive
Macroeconomic Theory, 2nd Edition, Ljungqvist
and Sargent
Recursive
Methods in Economic Dynamics, Stokey and Lucas with
Frontiers
of Business Cycle Research, Cooley ed.
Macroeconomic
Theory, (notes), Dirk Krueger,
Hetoergeneity in Macroeconomics, (notes),
Various
articles, to be determined