**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.