Complete written notes for each session. Every set of notes opens with learning objectives and closes with a problem set, a computational lab and readings. Use Print / save as PDF on any lecture page for an offline copy.
| Lec # | Topic and objectives | Length |
|---|---|---|
| Part I · Neoclassical foundations | ||
| 1 | The Dynamic Household: Intertemporal Choice and Euler Equations Derive household optimality conditions in discrete time; distinguish budget feasibility from optimality; interpret the Euler equation, borrowing constraints, and transversality. | 9 min read |
| 2 | Firms, Capital Accumulation, and Investment Derive factor demands, the capital Euler equation, and Tobin's \(q\); understand depreciation, adjustment costs, and investment dynamics. | 8 min read |
| 3 | Solow and Ramsey Growth: Steady States and Transitional Dynamics Derive the Solow steady state, golden-rule capital, and Ramsey saddle path; distinguish exogenous saving from optimal saving. | 9 min read |
| 4 | Real Business Cycle Models and Competitive Equilibrium Construct a real business cycle (RBC) model; derive equilibrium conditions; understand calibration, shock propagation, and impulse responses. | 7 min read |
| Part II · Nominal rigidities and policy | ||
| 5 | Nominal Rigidities, Calvo Pricing, and the New Keynesian Phillips Curve Derive the firm's reset-price problem under Calvo pricing; interpret the New Keynesian Phillips curve and its slope. | 8 min read |
| 6 | The Three-Equation New Keynesian Model Combine the dynamic IS relation, Phillips curve, and monetary-policy rule; analyze equilibrium responses to demand, supply, and policy shocks. | 9 min read |
| 7 | Monetary Policy: Rules, Commitment, and the Effective Lower Bound Evaluate policy rules and optimal policy; distinguish commitment from discretion; analyze the effective lower bound and forward guidance. | 9 min read |
| 8 | Fiscal Policy, Public Debt, and Monetary-Fiscal Interactions Derive debt dynamics; distinguish primary deficits from total deficits; analyze fiscal multipliers, sustainability, and Ricardian equivalence. | 9 min read |
| 9 | Open-Economy Macroeconomics and Exchange-Rate Dynamics Interpret balance-of-payments accounts; derive uncovered interest parity; analyze exchange-rate regimes and external shocks. | 9 min read |
| Part III · Solution and estimation | ||
| 10 | DSGE Solution Methods: Linearization, Perturbation, and QZ Compute deterministic steady states; linearize equilibrium conditions; understand rational-expectations solution and Blanchard–Kahn conditions. | 8 min read |
| 11 | DSGE Estimation: Likelihood, Bayesian Inference, and Model Evaluation Connect a solved DSGE model to observables; construct a likelihood; estimate parameters; assess identification and posterior fit. | 8 min read |
| Part IV · Heterogeneous agents | ||
| 12 | Heterogeneous-Agent Macroeconomics and Incomplete Markets Formulate household dynamic programming under idiosyncratic risk; derive policy functions and stationary distributions; define aggregate equilibrium. | 9 min read |
| 13 | HANK Models: Distribution Dynamics and Aggregate Transmission Understand how household heterogeneity changes aggregate policy transmission; formulate continuous-time HJB and Kolmogorov forward equations; interpret sequence-space methods. | 9 min read |
| Part V · Quantitative policy analysis | ||
| 14 | Quantitative Macro Policy Analysis, Validation, and Replication Design a transparent quantitative macroeconomic application; distinguish calibration from estimation; evaluate mechanisms, welfare, and robustness. | 8 min read |