Fall 2026
On Friday, October 30, we will discuss the economics of AI, including applying it to the AS/AD model.
On Monday, November 2, we will discuss the transition between the short-run and long-run in the AS/AD model (the last part of the notes). We will then start discussing fiscal policy.
On Wednesday, November 4, we will discuss the labor market as a current event (The October employment report comes out on Friday). We will then finish fiscal policy. This will be the last material before the second exam.
The second exam is in class on Monday, November 9. I will post a practice exam(s) and hold review sessions on Friday, November 6. After the second exam, the course will turn to the intersection of macroeconomics and financial markets. Topics include bond markets, monetary policy, equities, housing, and risk and uncertainty. If time permits, we will also discuss trade. Practice Exam 1, Practice Exam 2
The average on the first exam was 86.9/110 (79.0%) and the standard deviation was 19.8. I estimated that version a was three points harder than version B and thus added three points to any student who took the former, up to a max of 120. here is a key to version A and a key to version B.
Here is the third required homework assignment. It is due at 5 PM on Thursday, November 5.
The average on the first required homework assignment was 11.6/13.0. Scores on available on Lyceum. Here are some samples of submissions that received perfect scores: Sample 1, Sample 2
The average on the second required homework assignment was 12/12 (there was a bonus). Here are some samples of submissions that received 13/12: Sample 1, Sample2
I have posted approximate letter grades that capture the first exam and first two homework assignments. To do so I: 1) assumed neither of the first two HW assignments will be dropped and 2) for student who have only completed one HW, I double counted it.
Here is the office hour/ tutoring schedule:
Mondays: SASC “Econ and Stats Night, 6-9 PM
Tuesdays: my office hours, 10:30-11:30 AM, 278 PGill
Wednesdays and Thursdays: TA office hours, 8-9 PM, Econ lounge (127 Pgill)
Fridays: my office hours, 9:30-11 AM, 278 PGill
Fridays: Extra Econ tutors available for drop in visits at SASC: 1-3 PM.
We will use an open source textbook for this class. The link is here. Some topics will be augmented with additional materials.
The first class meeting is Friday, September 4. We will start the introductory topic. Notes, practice problems, and readings are available.
Below are course materials for each topic consisting of notes, problems, and answer keys. Notes will be available before we cover each topic in class.
| TOPIC | READING | |||
| Intro | Notes | Problems | Key | Ch. 1-2 |
| Labor’s Share | Notes | Problems | Key | Axios |
| Supply and demand | Notes | Problems | Key | Ch. 3 |
| Market failures | Notes | Problems | Key | Ch. 12-13 |
| The Fed | Notes | Problems | Key | CFR, NBC, ABC |
| Social Cost of Carbon | Notes | Problems | Key | Brooking, SIPA, RFF |
| Market power/structure | Notes | Problems | Key | Ch. 9-10 |
| Intro to Macro | Notes | Problems | Key | Ch. 19 |
| Crime | Notes | Problems | Key | Medium, NBC |
| GDP and Inflation | Notes | Problems | Key | Ch. 19, 22 |
| AS/AD | Notes | Problems | Key | Ch. 24 |
| AI | Notes | Problems | Carnegie, NPR | |
| Fiscal Policy | Notes | Problems | Ch. 30 | |
| Monetary Policy | Ch. 27-28 | |||
| Trade | Notes | Ch. 33 | ||
| Bond Markets | Notes | Ch. 17 | ||
| Stocks | Notes | Ch. 17 | ||
| Housing | Notes | Ch. 17 | ||
| Uncertainty | Notes | Ch. 16 |
