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Macroeconomics: Growth, Efficiency, and Fluctuations James Bullard Research Department Federal Reserve Bank of St. Louis bullard@ Course information This version. April 30, 2004. Nature of course and prerequisites. This is a second semester course in macroeconomics for first-year PhD students. I assume knowledge of the material taught in the first semester PhD course in macroeconomics. Class meeting times. The class meets from 4:00 pm to 5:30 pm Mondays and Wednesdays. Spring break is the week of Monday, March 8. Reading “week” is Monday, May 3 to Wednesday, May 5. The time of the final will be announced later. The class meets in Lopata House 21. Prof. Bullard’s office hours. By appointment. Grading. The grade for the course will be based on assignments (10%), two midterms (30% each), and a final (30%). Disclaimer. This syllabus is subject to change during the course. 1.. PART I. WHAT TO STUDY? James Bullard Course overview. Wednesday, January 21. 1. Part I. What to study? 1.1. Lucas’s calculation. Monday, January 26. Lucas, R. 1987. Models of Business Cycles, Part III, pp. 20-31. Excerpt from the Yrjo Jahnsson lectures. Basil-Blackwell. Candidate exam question. In what sense might economic fluctuations be viewed as a second-order issue for macroeconomics? Background material. Chatterjee, S. 2001. Why does countercyclical monetary policy matter? Business Review, Federal Reserve Bank of Philadelphia, Second Quar- ter. Lucas, Robert E., Jr. 2003. Macroeconomic priorities. American Economic Review, March, pp. 1-14. Related