For the first seven lectures, the students used the professor's lecture notes as their text. Please also see the additional readings below the table.
[Macro] = Blanchard, Olivier, and David R. Johnson. Macroeconomics. 6th ed. Pearson, 2012. ISBN: 9780133061635.
L = Lecture session
R = Recitation session
|SES #||TOPICS||READINGS||KEY DATES|
|L1||Models of the financial crisis: Leverage||No readings|
|R1||Balance sheets and leverage||No readings|
|L2||Models of the financial crisis: Holmstrom-Tirole I||No readings|
|L3||Models of the financial crisis: Holmstrom-Tirole II||No readings|
|R2||Holmstrom-Tirole model||No readings||Pset 1 posted (leverage, Holstrom-Tirole, Diamond-Dybvig)|
|L4||Models of the financial crisis: Diamond-Dybvig I||No readings|
|L5||Models of the financial crisis: Diamond-Dybvig II||No readings|
|R3||Diamond-Dybvig model||No readings||Pset 1 due|
|L6||Models of the financial crisis: Tirole||No readings|
|L7||Models of the financial crisis: Kiyotaki-Moore||No readings|
|R4||Kiyotaki-Moore model||No readings||Pset 2 posted (Kiyotaki-Moore and IS-LM)|
|L8||Core: National accounts||[Macro] Chapters 1 and 2.|
|L9||Core: The IS-LM model||[Macro] Chapters 3–5.|
|R5||IS-LM||No readings||Pset 2 due|
|L10||Core: The IS-LM model (cont.)||[Macro] Chapters 3–5.|
|L11||Core: The IS-LM model (cont.)||[Macro] Liquidity trap section, pp. 473–6.|
|Quiz 1 on lectures 1–11||No readings|
|L12–13||Core: The medium run||[Macro] Chapters 6–9.|
|R6||Medium run||No readings||Pset 3 posted (Medium run)|
|L14||Core: The medium run (cont.)||[Macro] Chapters 6–9.|
|L15||Core: The open economy||[Macro] Chapters 18–21.|
|R7||Open economy||No readings||Pset 3 due|
|L16–17||Core: The open economy (cont.)||[Macro] Chapters 18–21.|
|Quiz 2 on lectures 12–17||No readings|
|L18||The Mundell-Fleming model||[Macro] Chapter 20.||Pset 4 posted (Open economy)|
|L19||Fixed and flex exchange rates||[Macro] Chapter 21.|
|R8||Fiscal policy|| |
[Macro] Chapter 21.
|L20||Fiscal policy (cont.)|| |
[Macro] Chapter 23.
|Pset 4 due|
|R9||Fiscal policy exercise||No readings||Pset 5 posted (Fiscal and monetary policy)|
|L21–22||Monetary policy and the crisis||[Macro] Chapters 9 and 24.|
|R10||Monetary policy and the crisis exercises||No readings|
|L23||The state of the U.S. economy after the crisis—Bob Hall||No readings||Pset 5 due|
|L24||Review for the quiz||No readings|
|Quiz 3 on lectures 18 to 24||No readings|
Gapper, John. "Promises that Proved Ultimately Empty," Financial Times, January 9, 2012.
"Playing with Fire," The Economist, February 25, 2012.
"The Origins of the Financial Crisis: Crash Course," The Economist, September 7, 2013.
"The Dangers of Debt: Lending Weight," The Economist, September 14, 2013.
"Monetary Policy after the Crash: Controlling Interest," The Economist, September 21, 2013.
"Stimulus v Austerity: Sovereign Doubts," The Economist, September 28, 2013.
"Making Banks Safe: Calling to Accounts," The Economist, October 5, 2013.