Macroeconomics
2, 2012
This is the website
for Macroeconomics 2 (ECON 30120) taught by Prof.
Karl Whelan (University College Dublin). Classes will be held in Lecture
Theatre M in the Newman Building on Mondays and Wednesdays at 1PM, starting on
January 16.
The course will focus
on two main areas: The theory of long-run economic growth and the role of
expectations in the macroeconomy.
There will be no set
textbook. Instead, course materials will be provided in the form of handouts, lecture notes and readings.
This set
of slides provides a full introduction to how the class will work.
Exam Guidelines: Here
is a handout with guidelines for the final exam, sample
questions and tips.
Final Exam: This will take place on Monday April 30 at Noon at
the RDS Simmonscourt and will last for two hours.
Feedback: I would be very grateful if students can fill out the online feedback
form for the module. You can fill out the form by clicking here or on the Student Surveys and Module
Feedback channel on the UCD Connect home tab. The form only takes a few minutes
but the feedback, whether positive or negative, is very valuable. The results
are completely anonymous so just say what you think. The survey opens on April
10.
Lecture Notes
1. The Solow Model of
Economic Growth. Lecture Slides.
2. Empirical Evidence
on Cross-Country Growth Patterns. Lecture Slides.
3. Endogenous
Technological Change: The Romer Model. Lecture Slides.
4. Cross-Country Technology
Diffusion. Lecture Slides.
5. Institutions and
Efficiency. Lecture Slides.
6. Before
Growth: The Malthusian Model. Lecture Slides.
7. Population and
Resources: Malthus and the Environment. Lecture Slides.
8. Rational
Expectations and Asset Prices. Lecture Slides.
9. Rational
Expectations and Consumption. Lecture Slides.
10. Exchange Rates,
Interest Rates and Expectations. Lecture Slides.
Links to Papers
Robert Solow (1956). A Contribution to
the Theory of Economic Growth. (JSTOR:
Access through UCD Connect)
Brad
DeLong’s textbook
chapter on the Solow model.
Kieran
McQuinn and Karl Whelan (2008). Prospects for Growth in the Euro Area.
Robert
E. Hall and Charles I. Jones (1999). Why Do Some Countries
Produce So Much More Output per Worker than Others?
Xavier
Sala-i-Martin (2005). The
World Distribution of Income: Falling Poverty and ... Convergence, Period.
Gregory
Mankiw, David Romer and
David N. Weil (1992). A Contribution to the Empirics of Economic Growth.
Kieran
McQuinn and Karl Whelan (2007). Solow (1956) as a Model of Cross-Country Growth Dynamics.
Douglass North
(1994). Institutional
Change: A Framework of Analysis.
Daron Acemoglu, Simon Johnson and
James Robinson (2001). The Colonial Origins of Comparative
Development: An Empirical Investigation.
Dani Rodrik, Arvind
Subramanian, and Francesco Trebbi (2002). Institutions
Rule: The Primacy of Institutions over Geography and Integration in Economic
Development.
Robert
Gillanders and Karl Whelan (2010). Open For Business? Institutions, Business Environment and Economic Development.
Gregory Clark (2007).
A Farewell to Alms. Chapter One: The Sixteen Page Economic
History of the World.
Gregory Clark (2007).
A Farewell to Alms. Chapter Two: The
Logic of the Malthusian Economy.
Thomas Malthus
(1798). An Essay on the Principle of Population.
James
Brander and M. Scott Taylor (1998). The
Simple Economics of Easter Island: A Ricardo-Malthus Model of Renewable
Resource Use.
John
Campbell and Robert Shiller (2001). Valuation
Ratios and the Long-Run Stock Market Outlook: An Update.
Robert Hall (1978). Stochastic Implications
of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence.
Links to Other Resources
Cross-Country
PPP-comparable data from the Penn World Table.
Developmentdata.org: A
fantastic collection of all sorts of cross-country information and other
development data.
Data from the World
Bank Project: "Doing
Business".
Gapminder:
Wonderful animated graphs on health, incomes and other things.
NBER
Workshop on
Behavioural Finance.