Economics 333 – Macroeconomic Theory

This is a course in modern growth theory.  We will examine the quantitative and qualitative evidence used by economists and historians and develop a series of mathematical models.  Throughout this course I will emphasize the interactions among data, theory, and history in explaining economic growth.

Syllabus (9/26: updated version) (11/15: updated version)

Class calendar

FRED (Federal Reserve Economic Data at Federal Reserve Bank of St. Louis)

Quiz #1: Key; score distribution

Exam 1: Model answersscore distribution

Quiz #2: Keyscore distribution

Exam 2: Model answers; score distribution

Readings (in order of classes where we used them)

FRED Blog, “Negative Investment?

Arrow and Debreu, “Existence of an Equilibrium for a Competitive Economy.”

Easterlin, “The Worldwide Standard of Living since 1800.”

Jones and Klenow, “Beyond GDP? Welfare Across Countries and Time.”

Solow, “A Contribution to the Theory of Economic Growth.”

Solow, “Technical Change and the Aggregate Production Function.”

Field, “The Most Technologically Progressive Decade of the Century.

Kendrick, Productivity Trends in the United States

Johnston, Why the Great Recession was even worse than you thought.




Goal 1: Students of economics will be able to apply economic theory to understand economic issues and policies by:

1.1: Analyzing interactions between human values and economic life;

1.2: Demonstrating a knowledge of and ability to apply appropriate analytical tools; and

1.3: Recognizing the diversity of methodologies practiced in conducting economic analysis.

Goal 2: Students of economics will be able to evaluate evidence bearing on those economic issues and policies by:

2.1: Identifying, locating, and assessing the necessary quantitative and non-quantitative information, facts and arguments; and

2.2: Employing both quantitative reasoning and computing skills where appropriate.

Goal 3: Students of economics will be able to communicate effectively the results of their economic analysis through:

3.1: Clear writing, appropriately supported and documented;

3.2: Effective participation in discussion; and

3.3: For majors, polished oral presentations.