Luke Stein — Stanford Econ. 210

First-Year Graduate Macroeconomics

Autumn 2009

Dynamic economics applied to aggregate economic fluctuations and economic growth. Solving dynamic, stochastic rational expectation models using discrete time dynamic programming. Growth theory (neoclassical models, growth accounting, technical change, endogenous growth) using optimal control theory.

Instructors: Manuel Amador and Nir Jaimovich

Course resources

Section notes (all pdfs)

The full notes include

  1. Taxonomy of economic models, utility functions, sequence problems, dynamic programming, mathematics reminders

  2. Dynamic programming algorithms, steady-state analysis and dynamics, competitive equilibrium, constant returns-to-scale production

  3. Comparing planner problems with competitive equilibria, Pareto optimality, log-linearization, balanced growth

  4. Continuous-time optimization, log-linearizing the neoclassical growth model

  5. Optimal taxation, uncertainty

  6. Risk-sharing properties of competitive markets, perfect and imperfect insurance

  7. Asset pricing with complete markets, incomplete markets

  8. General equilibrium in incomplete markets, overview

Other references

Selected student feedback

Stanford Economics Department Outstanding Teaching Assistant award

“Easily the best TA I've EVER had! Section was absolutely fundamental to the course & I understood more from attending 2 hours of section than a week of classes. Class notes were particularly well-organized/useful.”

“By far the friendliest and most approachable instructor. Very generously gave lots of his time to office hours and other out-of-class meetings.”

“Luke was an excellent section leader. He is the best teaching assistant I have had at Stanford. He will make a great professor!”

“Luke both understood the material and presented in a way such that we could understand it. Out of the professors and TAs I had this semester, I learned the most from Luke — he's just awesome and should be professor!”

“He is the best lecturer ever; very approachable.”

“Luke was an outstanding TA and helped the class immensely. The notes he prepared for section were very useful and really clarified the material. His explanations were perfectly suited to our preparation.”

See more comments or browse full evaluations (pdf)