Intermediate Macroeconomic Theory, Spring 2017

Syllabus and Course Outline

**** Final Exam Review Session **** (in DMSB 124):
Tuesday, April 25, 10:00am-12:00pm

** Additional Final Exam Office Hours ** (held in DMSB 427B):
Friday, 4/21, 8:00am-10:00am
Monday, 4/24, 1:00pm-5:00pm

Professor DeBacker Office Hours (held in DMSB 427B):
Tuesday, 2:30pm-4:30pm
Thursday, 11:30am-1:30pm

Teaching Assistant Alexandra Troidl Office Hours (held in DMSB 456-K2):
Monday, 2:00pm-5:00pm
Wednesday, 4:00pm-5:00pm

Course Links
Introduction
The Missing Men
Don’t Blame China For Taking U.S. Jobs
Why Men Don’t Want the Jobs Done Mostly by Women
Brexit: All you need to know about the UK leaving the EU
Top Economists Grapple With Public Disdain for Initiatives They Championed
Chapter 2
Federal Reserve Economic Data (FRED)
Economic Data Calendar
Wall Street's Hottest Address? K Street
GDP to Get Bigger, Not Necessarily Faster
Planet Money, The Friday Podcast: The Price Of Lettuce In Brooklyn
The Billion Prices Project @ MIT
Data Docs - Unemployment and Employment Data video
GDP vs. GDI as a measure of the size of the economy
Sizing Up Black Markets and Red-Light Districts for G.D.P.
Are U.K. Economic Data Leaking?
Trump's budget director claims Obama was 'manipulating' jobs data (spoiler: he wasn't)
Spicer quotes Trump: Jobs reports 'may have been phony in the past, but it's very real now'
Trump Administration Considers Change in Calculating U.S. Trade Deficit
Please, can someone brief the president on the unemployment rate?
Chapter 3
Open Source Macroeconomics Laboratory at the University of Chicago
Gamecocks Economics Society
Chapter 4
All monies are commodity monies
Why Kyle Bass Acquired $1 Million Worth Of Nickels
The Case of the Missing Currency
Maybe it’s time America gets rid of most of its cash
India pulled 86% of its cash out of circulation. It’s not going well.
When the Fed Raises Rates, These Traders Make it Happen
What Happens When the Fed Raises Rates, In One Rube Goldberg Machine
How Interest Rates Are Set: The Fed's New Tools Explained
Chapter 5
"Inflation is not magic." About inflation as a tool to combat nominal wage rigidities.
Be Ready To Mint That Coin
The Exaggerated Death of Inflation
Chapter 6
Yes, protectionism can save some US jobs, but at what cost? Empirical evidence suggests it’s very, very expensive
NAFTA and other trade deals have not gutted American manufacturing — period
Donald Trump’s trade team has based their analysis on a remarkably silly mistake
Trump's Mental Deficit On Trade Deficits
U.S. Trade Deficit Last Year Was Widest Since 2012
Visualization of global trade
The Big Mac index
Chapter 7
Planet Money Podcast: Germany's Painful Solution To High Unemployment
The New Face of American Unemployment
America’s ‘jobs for the boys’ is just half the employment story
Economics of College Education (tangential to our study of the labor market, but relevant to you all)
Planet Money Episode 485: What's Your Major?
NY Fed Blog: The Value of a College Degree
NY Fed Blog: Staying in College Longer Than Four Years Costs More Than You Might Think
NY Fed Blog: College May Not Pay Off for Everyone
NY Fed Blog: Are the Job Prospects of Recent College Graduates Improving?
Only 150 of 3500 U.S. Colleges Are Worth the Investment: Former Secretary of Education
2013 College Education ROI Rankings
Beyond the College Rankings: A Value-Added Approach to Assessing Two- and Four-Year Schools
Chapter 8
CIA World Factbook
Measuring Economic Growth From Outer Space
Solow Growth Model in Excel
Hans Rosling: New Insights on Poverty
The Secret History of the Dismal Science. Part I. Economics, Religion and Race in the 19th Century
Chapter 10
NBER Business Cycle Dates
The Recession and Recovery in Perspective
It’s the Aggregate Demand, Stupid
Chapter 11
Greece's Great Depression
Obama Gives Keynes His First Real-World Test
"Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem
Fight of the Century: Keynes vs. Hayek Round Two
Chapter 12
Fiscal Policy Using the Quantity Theory
IS-LM in the NY Times
A lot of bucks, but how much bang?
France Puts Pressure on Germany for Stimulus Plan
22 of 40 largest one day drops in S&P 500 occurred from 2008-2011
The Great Recession versus the Great Depression (Krugman)
The Great Recession: A Macroeconomic Earthquake (explains why IS-LM is useful)
Chapter 13
Khan Academy: Speculative Attack on a Currency
How complex are international corporate structures?
Economic Performance Since the Introduction of the Euro
China cracks down on ‘financial ants’ smuggling cash to Hong Kong
EconTalk Podcast: The Future of Europe
Chapter 16
Episode 522: The Invention Of 'The Economy' (A story featuring Simon Kuznets)
Why Millennials Are Ditching Cars And Redefining Ownership
Press Release for Milton Friedman's Nobel Prize in Economics (1976)
Press Release for James Tobin's Nobel Prize in Economics (1981)
Press Release for Franco Modigliani's Nobel Prize in Economics (1985)
Mastrobuoni and Weinberg (2009) on intra-monthly consumption smoothing
Chapter 17
Frontline: The Retirement Gamble
A Random Walk Down Wall Street
Can the stock market save millennials?
5 Ominous Signs for the Securities Industry
Actively managed mutual funds fall short again — and investors notice
2013 Nobel Price in Economics awarded for research on asset pricing
Largest Tax Expenditures - see several for owner occupied homes
How complex are corporate structures?
Chapter 18
The Job Impact of the American Recovery and Reinvestment Plan
Macroeconomic model comparisons and forecast competitions
Can you say "rent-seeking?"
Corporate lobbying, political connections, and the bailout of banks
Joch Cochrane on Charles Plosser on discretionary monetary policy
House passes bill calling for rule-based monetary policy
Chapter 19
How Should We Think about the Debt?
This is how much you would have to contribute to pay off your country’s debt elections
What Size Fiscal Deficits for the United States?
Why Wall Street cares a lot about Argentina's elections
Federal Government Debt Clock
GAO Federal Debt Basics
Did the 2008 Tax Rebates Stimulate Spending?
What is Generational Accounting?
Chapter 20
Larry Summers on Financial Crises
Hank Paulson and the response to the crisis
What do slow recoveries from financial crises mean about the most recent response to a crisis?
Government support of banks
This American Life, "The Giant Pool of Money"
More evidence ‘average is over’ and the US middle class is thinning
Fed Balance Sheet Risks
Complex Corporate Structures
The Stimulus Program Was a Smashing Success: It Erased Most Middle Class Income Losses in the Recession
Deleveraging ends as new credit card borrowing, student + auto loans outpaces foreclosures
Planet Money: The Last Bank Bailout
Fed Puts Together Plan to Unwind Securities Portfolio

Extra Credit Assignments
Extra Credit, 2/23/2017