Course title

KIMAP Intermediate Macroeconomics

Responsible person
to enter grades
Numbering Code

Day・Period, etc. Fri3(対面)

開講区分単位数

2nd semester

2.0

Timetable Slot
Code

3J390

Lesson topic
This course offers a theoretical treatment of many classical concepts and results in macroeconomics. It conveys howeconomists think of the economy at the aggregate level, and how this way of thinking is reflected in mathematicalmodels of the economy. The intense schedule guides students through the theories of investment, consumption,aggregation, asset pricing, the real theory of interest, and various aspects of fiscal policy. The course aims atexplaining both how macroeconomic models work mechanically, and how these models can be applied to analyze aspectsof the real-world economy.

Lesson target
Students will be familiarized with techniques of macroeconomic modeling. After successful completion of thiscourse, students will have acquired the knowledge necessary to read and understand advanced textbooks, and will beable to apply this knowledge to real-world investment decisions and interpretation of macroeconomic data. This
course is well-suited for advanced undergraduate students who plan to apply to graduate programs in economics, aswell as for graduate students in related fields.

Syllabus and plan
Tentative schedule and topics:
Week 1: Introduction, Fisher Separation
Week 2: Valuation, Borrowing Constraints
Week 3: Annuities and Perpetuities, Representative Firm
Week 4: The Investment Problem, IS Curve, Linear Algebra
Week 5: Tobin's Marginal q, Term Structure of Interest Rates
Week 6: The Consumption-Savings Problem, Representative Consumer
Week 7: Permanent Income Hypothesis
Week 8: <Midterm Exam>
Week 9: Spot Market Equilibrium, Aggregate Demand and Supply
Week 10: Sequential Equilibrium
Week 11: Asset Price Bubbles
Week 12: Term Structure Estimation, Bond Pricing
Week 13: Ricardian Equivalence, Maturity Structure of Government Debt
Week 14: National Accounts, Fiscal Policy
Week 15: <Review Session>
Week 16: <Exam>
Evaluation method
Midterm Exam: 50%
Final Exam: 50%

Evaluation baseline
The exams will test students' understanding of the course content (theory), and their ability to analyze specificexamples (applications). Students must be able to apply mathematics, but will not be asked for mathematical proofs
in the exams.
Notice (include info. on related class)Prior knowledge of geometric series, differential calculus, and constrained optimization is expected and required.
It is further expected that students are familiar with elementary concepts of economic theory, such as demand andsupply, utility functions, and interest rates.

Review and preparation
Kobe University requires 45 hours of study from students to award one credit, including both in-class instructions
as well as study outside classes. Students are strongly advised to solve the weekly problem sets before the nextlecture. Sample solutions will be provided in advance of the exams. All lectures are self-contained and can beunderstood without prior reading of textbook chapters. The textbook is complementary and serves to deepen theunderstanding of all topics covered.

Office hour・Contact information
By appointment via email.

Message for student
You might find this course useful for expanding your English vocabulary, but please keep in mind that it is notdesigned as a language course. The focus is on formal economic analysis.

Improvemenets in Teaching

Text

Macroeconomics, 7th International Edition (or any other recent edition of the same textbook) / Gregory Mankiw :Macmillan ,2010 ,ISBN:1429218878
Reference Material
Lecture slides will be provided on BEEF+.
Classroom Language
EnglishKeywords
Macroeconomic Theory