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Macroeconomic Theory I 106 Fisher Hall Email moll princeton edu Economics 503 Benjamin Moll Overview This is a graduate course in the first year macroeconomics field I will teach the first six weeks and Esteban Rossi Hansberg the second six weeks Organization The class meets on Mondays and Wednesdays from 10 40am to 12 10pm in Fisher B06 A preliminary syllabus is attached The material may change throughout the course There will be weekly precepts at a time to be determined The preceptors are Dmitry Mukhin mukhin princeton edu and Justin Weidner jweidner princeton edu Finally I will hold weekly office hours Grading Your grade for my part of the course will be based on five problem sets counting for 30 of the grade and a midterm exam counting for 70 The grading for Esteban s part of the course will most likely use the same split Books the following two books are recommended i e they are good books to own However we will not really use them so that you don t need to buy them Esteban will likely draw on SLP more than LS Stokey Nancy Robert E Lucas Jr and Edward C Prescott 1989 Recursive Methods in Economic Dynamics Ljungqvist Lars and Thomas J Sargent 2004 Recursive Macroeconomic Theory entire book is online http www econ yale edu smith econ525a sargent3 pdf 1 Some Basics 2 The Growth Model Theory 3 The Growth Model and the Data Modern Economic Growth Acemoglu Daron 2008 Chapter 3 The Solow Model and the Data in Introduction to King Robert and Sergio Rebelo 1993 Transitional Dynamics and Economic Growth in the Neoclassical Model The American Economic Review 83 4 908 931 Chen Kaiji Ayse Imrohoroglu and Selahattin Imrohoroglu 2006 The Japanese Saving Rate American Economic Review 96 5 1850 1858 4 Policy Analysis in the Growth Model Capital Taxation Chamley Christophe Optimal Taxation of Capital Income in General Equilibrium with Infinite Lives Econometrica 1986 54 3 pp 607 622 Judd Kenneth L Redistributive taxation in a simple perfect foresight model Journal of Public Economics 1985 28 1 59 83 Straub Ludwig and Ivan Werning 2014 Positive Long Run Capital Taxation Chamley Judd Revisited 5 Adding Growth to the Growth Model 6 Income and Wealth Distribution in the Growth Model Chatterjee S 1994 Transitional dynamics and the distribution of wealth in a neoclassical growth model Journal of Public Economics 54 97 119 Caselli Francesco and Ventura Jaume 2000 A Representative Consumer Theory of Distribution American Economic Review September 90 4 pp 909 996 Jones Chad 2014 The Macroeconomics of Piketty 7 New Keynesian Model

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Princeton ECO 503 - Macroeconomic Theory I

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