Problem Sets: Discussions are encouraged, but each person must hand in their own answer sheets

Examinations: Discussions are forbidden, either face to face or via online discussion board / Social media.

If I get

80 %

response rate on SEI by the end of the semester, everyone will get 2 points of extra credits.

Curving

If less than

40 %

of the students get A- or above, I will add some points to everybody until

40 %

of the students get A- or above, but I don’t expect this to occur.

Problem Sets

There are four problem sets and each of them worth 5 points. The way to calculate semester grade on problem set is by

\frac{correct answers}{total number of questions} \times 5

. For example, if there are 36 questions and you answer 30 correctly, then you will get

\frac{30}{36} \times 5 \approx 4.16

points in semester grade. Problem sets will be answered on paper, and will be submitted by the class time to TA. Note that overdue assignment will NOT be accepted.

Exam

There are two midterm exams and each of them worth 20 points. There is one final exam and it worths 30 points. The way to calculate semester grade on exams is the similar to the Problem Sets if not otherwise noted.

Attendance

If there are more than

50 %

of students attend the class, then I will not take attendance. If I have not taken attendance until the end of semester, then every students will be granted the entirety of the attendance points. If I start to take attendance, then I will spread

5

10

attendance check across the rest of the semester, and the attendance points will be recorded accordingly.

Tentative Course Schedule


Week	Day	Topics and Readings	Deadlines


1	2/26	Topic: Introduction and Review of Stylized Facts Topic: Introduction on the Inflation

2	3/5	Topic: IS-LM Model I: Closed Economy (Goods Market & Money Market) Topic: IS-LM Model II: Policy Analysis

3	3/12	Topic: Mundell-Fleming Model I: Fixed Exchange Rate Topic: Mundell-Fleming Model II: Flexible Exchange Rate

4	3/19	Topic: Phillips Curve and Sacrifice Ratio Topic: Rational Expectations	Problem Set 1

5	3/26	Topic: Expectations and Policy Analysis Topic: Micro-foundations: Imperfect Competition and Sticky Prices

6	4/2	Break

7	4/9	Midterm

8	4/16	Topic: The New Keynesian Model II: Staggered Price Setting (Calvo) Topic: The New Keynesian Model III: Monetary Policy and Shocks

9	4/23	Topic: Monetary Policy Rules Topic: Fiscal Policy Multipliers in NK Model

10	4/30	Topic: Sticky Wages and Labor Market Frictions Topic: Search and Matching Models I (Flows)	Problem Set 2

11	5/7	Midterm II

12	5/14	Topic: Search and Matching Models II (Equilibrium) Topic: Review of Dynamic Stochastic General Equilibrium (DSGE)

13	5/21	Topic: Financial Frictions and the Great Recession Topic: Open Economy New Keynesian Models	Problem Set 3

14	5/28	Customized Class

15	6/4	Customized Class Final Review	Problem Set 4

16	6/11	Final Exam


Categories	Points


Problem sets on course material	20 points

Midterm Exam I	20 points

Midterm Exam II	20 points

Final Exam	30 points

Attendance	10 points

Total	100 points

Course Overview

Grades

Grading Policy

Examinations Integrity Policies

Curving

Problem Sets

Exam

Attendance

Tentative Course Schedule

Grading scale