Thursday, February 14, 2008

Macroeconomics class started today

I will be teaching intermediate macroeconomics at undergraduate level and microeconomics at graduate level this semester. The macro class started today. Here is the plan for the semester:

Main texts: Romer's Advanced Macroeconomics (McGraw-Hill). I encourage students to review their Mankiw's Macroeconomics (Worth Publishers) and Dornbusch et al.'s Macroeconomics (McGraw-Hill). For those who still need clear, intuitive overview on the basic concepts, I suggest to have Moss' A Concise Guide to Macroeconomics (HBS Press). Finally, those who are interested in the current debates on modern macroeconomics, I recommend Snowdon and Vane's A Conversation with Leading Economists (Edward Elgar).

The class is divided into groups who will present their reading on the following topics: 0) Solow Growth Model, 1) Infinite-Horizon and Overlapping-Generations Models, 2) New Growth Theory, 3) Real Business Cycle Theory, 4) Keynesian Fluctuation Theories, 5) Micro Foundations of Incomplete Nominal Adjustment, 6) Consumption, 7) Investment, 8) Unemployment, 9) Inflation and Monetary Policy, and 10) Budget Deficits and Fiscal Policy. This structure borrows completely from Romer.

In due course we will discuss selected news and articles on the Indonesian macroeconomy.

For the students: I apologize in advance that I will have to use some Saturdays to make up for the lost Thursdays due to my fieldworks and the three national holidays. But let's enjoy the semester again, just like we did in the micro course last semester.

12 comments:

Anonymous said...

Do you use Romer with OLG and Infinite Horizon, RBC, Keynes and New Keynesian, etc for the (undergrad) intermediate macro?

If it is true, waw. It is tough. heheheh. I think it is too advanced for intermediate macro.

Undergrad student could easily grasp several chapters (maybe first four chapters), while the rest will be quite chalenging, considering that they might have not tought the mathematics theories that is necessary to clearly understand those chapters.

It is just my opinion. :)

Ares

Aco said...

Ares, it's "naming" issue. At FEUI undergraduate, they have 3 series of micro and 3 series of macro. For the latter they are called Pengantar Makro, Makro-1, and Makro-2. I'm teaching Makro-2 now and for the lack of good translation it is called intermediate macro (while it's probably more apt to be called advanced macroeconomics for undergraduate level). Last year when I taught this same class, I made more use of Scarth's text.

Rajawali Muda said...

Hmm, mas aco, not that I didn't take any advantage to take the course when I was an undergrad student, but yeaah, this kinda hard for undergrad student, especially when the teacher use scarth as a reference,(but anyways mbak ani was a great prof),thank god you changed it to a much reasonable reading. I mean with lots of examples and better explanations in the book.
however, I do appreciate if I have had better math fundamental before I took this course,Had I got better understanding in it, I would have got a better notes. I kinda envious to ITB students,they had algebra as their Ilmu budaya dasar (IBD for UI),all students got their claws sharpen before starting their "hard meals" or "main menus"..well for my case, I got an "easily misunderstood" math-econ teacher in my first semester, a strong defaults indeed. but seeing your economics 101 in cafesalemba, students won't have any problems grasping the ideas in you class I suppose..(aduh curhat colongan nih mas, heheheeh..)

Aco said...

hi, rizal. that plan was ideal, of course. but i'm willing to accommodate going back and forth with dornbusch for example. there is really no point of forcing students do math while loosing the basic idea and intuition.

hope everything's alright with you there. it's been a while you haven't updated me :-)

sukses ya, zal.

Rajawali Muda said...

makasih banyak mas, I've always been your regular reader..in some ways, I keep myself updated for your exegesis..heheehehe..

Kiki said...

The first presentation in our class was cancelled due to the difficulity in understanding Romer, and wisely you have changed our presentation material to Moss. Thank God !!! hehhee

About the classes in Saturdays, i think none of us (your students)has any complain about that. The class itself has been fun Pak Aco, indeed:)

Aco said...

Halo, Kiki. While I'm away, I hope the RA helps you guys with exercises. Be back next week.

Anonymous said...

My dear Aco,

Make sure u let them have a nice coffee and few bits of chips. Having advance macroecons on saturday is difficult enough to be called 'enjoyable'..

dont u agree, students? :p

Patris :)

Aco said...

Haha, I like that, Patris: class with chips. Used to do that -- with a class of 5, not 50 like this :-)

Anonymous said...

what's wrong with 50?
;)

patris

Aco said...

pat, i'm still a cheap bastard. 50's too many. i could throw a sweet party for 5, but 50? what, chiki snack? :-)

Anonymous said...

is this the class that ponder about your weight and your wellbeing during the fieldtrip?

(speechless)


dhani