Princeton University, Macroeconomic Theory I, Economics 503 (1st Year PhD)

Syllabus

Lecture 1: Preliminaries

Lecture 2: Growth Model, Dynamic Optimization in Discrete Time

Lecture 3: Growth Model, Dynamic Optimization in Continuous Time (Hamiltonians)

Lecture 4: Analysis of Optimal Trajectories, Transition Dynamics in Growth Model

Lecture 5: Competitive Equilibrium in the Growth Model

Lecture 6: Competitive Equilibrium in the Growth Model (II)

Lecture 7: The Growth Model and the Data

Lecture 8: Policy Analysis in the Growth Model (Capital Taxation)

Lecture 9: Adding Growth to the Growth Model

Lecture 10: Endogenous Growth

Lectures 11 and 12: Income and Wealth Distribution in the Growth Model

Lecture 13: Review Session, New Keynesian Model

Part of these lecture notes are based on notes by Fernando Alvarez, Bob Lucas and Richard Rogerson. Thanks to them for having taught me and/or sharing their notes.



Stanford University, Advanced Macroeconomics, Economics 235
Guest Lectures: "Heterogeneous Agent Models in Continuous Time"

Lecture 1 (huge file with movies) , (smaller file without movies)

Lecture 2 (huge file with movies) , (smaller file without movies)

Website with codes for numerical solution


Princeton University, Advanced Macroeconomics I, Economics 521 (2nd Year PhD)

Syllabus

Lecture 1: Overview, Hamiltonians and Phase Diagrams

Lecture 2: New Keynesian Model in Continuous Time

Lecture 3: Werning (2012) "Managing a Liquidity Trap"

Lecture 4: Hamilton-Jacobi-Bellman Equations, Stochastic Differential Equations

Lecture 5: Stochastic HJB Equations, Kolmogorov Forward Equations

Lecture 6: Income and Wealth Distribution
Supplement: Why Piketty Says r-g Matters for Inequality

Lecture 7: Stopping Time Problems, Firm Size Distribution

Lecture 8: Gabaix (2011) "Granular Origins", More on Heterogeneous Firms

Lecture 9: Lucas and Moll (2012), "Knowledge Growth and the Allocation of Time", More on Endogenous Growth

Lecture 10: Alvarez and Shimer (2011), "Search and Rest Unemployment"

MATLAB Codes: HJB.m, HJB_implicit.m, Documentation for HJB_implicit.m, HJB_stochastic_reflecting.m

Part of these lecture notes are based on notes and/or presentation slides from Fernando Alvarez, Jess Benhabib, Xavier Gabaix, Esteban Rossi-Hansberg, and Ivan Werning. Thanks to these people.