Luke Stein
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Econ. 50
Econ. 202N
Econ. 210
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Luke C.D. 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 [preliminary]

Other references