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Created 8/24/2000
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ECONOMICS 202B: Second Half

TTh 2-3:30 Wheeler 220

Brad DeLong (delong@econ.berkeley.edu) Office hours: Tu 3:45-4:45, W 2:00-3:00, Th 3:45-4:45 Evans 601
Julian di Giovanni (
jdigio@econ.berkeley.edu) Office hours: W 2:00-4:00


I. Monetary Policy

Tuesday October 17: Inflation, Money Growth, and the Term Structure

Thursday October 19: Dynamic Inconsistency and Monetary Policy

Tuesday October 24; Thursday October 26: Disinflation and Monetary Policy

Tuesday October 31: Pathologies: Japan's Liquidity Trap and Europe's High Unemployment

II. Fiscal Policy

Thursday November 2: Introduction to Fiscal Policy; Ricardian Equivalence

Tuesday November 7: The Economic Analysis of Politics: Fiscal Policy

Thursday November 9: The Economic Analysis of Budget Deficits

Tuesday November 14: Delayed Stabilizations and Positive Analysis

III. Interlude

Thursday November 16: David Romer...

Tuesday November 21: SECTION MEETING DURING CLASS TIME

  • problem set 3 due (solutions)
  • IV. Financial Crises

    Tuesday November 28: Financial Crises Caused by Unsustainable Government Policies

    Thursday November 30: Crises Caused by Government Policies That Become "Incredible" (Britain 1992)

  • Maurice Obstfeld (1996), "Models of Currency Crisis with Self-Fulfilling Features", European Economic Review 40, 1037-1047.
  • [Optional] Maurice Obstfeld (1994), "The Logic of Currency Crises", Cahiers Economiques et Monetaires 43, pp. 189-213.
  • Tuesday December 5: Crises Caused by Structural Weaknesses (Mexico 1994-1995, East Asia 1997-1998)

    Tuesday December 12 180 Tan 2:00-3:30: Wrap-Up and Review

    Thursday December 14, 12:30-3:30: 200 Wheeler FINAL EXAM; Final Exam Answers (first draft; may contain typos)


    Problem Sets

    Problem Set 1: Monetary Policy I: Advanced Macroeconomics, problems 9.3, 9.5, 9.12

    Problem Set 2: Monetary Policy II: Advanced Macroeconomics, problems 9.14, 9.15, 9.17

    Problem Set 3: Fiscal Policy I: Advanced Macroeconomics second edition, problems 11.1, 11.4, 11.7

    Problem Set 4: Fiscal Policy II: Advanced Macroeconomics second edition, problems 11.11 11.13, 11.14, 11.15

    Problem Set 5: International Financial Crises


    Dropped From the Syllabus: Asset Market Puzzles

    Tuesday November 28: The Equity Premium Puzzle

  • David Romer (1996), Advanced Macroeconomics, pp. 330-332
  • Phillippe Weil (1989), "The Equity Premium Puzzle and the Risk-Free Rate Puzzle", Journal of Monetary Economics Vol. 24:3, pp. 401-422.
  • Thursday November 30: The Stock Market Volatility Puzzle

  • John Campbell and Robert Shiller (1989), "The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors," Review of Financial Studies 1:3, pp. 195-228.
  • Andrei Shleifer (2000), Efficient Markets, pp. 1-52, 89-111.
  • problem set 4 due; problem set 5 out

  • Professor of Economics J. Bradford DeLong, 601 Evans
    University of California at Berkeley; Berkeley, CA 94720-3880
    (510) 643-4027 phone (510) 642-6615 fax
    delong@econ.berkeley.edu
    http://www.j-bradford-delong.net/

    This document: http://www.j-bradford-delong.net/Teaching_Folder/Econ_202b_F2000/Econ_202b_syllabus.html

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