Type of Credit: Partially Required
Credit(s)
Number of Students
本課程擬深入淺出地討論當代總體經濟理論的重要議題，相關議題的講解將盡可能地以經濟直覺搭配數理分析來進行。課程的基本內容包括：
前瞻的理性預期與新興古典理論；
宣示效果與投資理論；
時序不一致；
外生成長與實質景氣循環理論；
內生成長；
獨占性競爭的總體理論；
新興凱恩斯理論。
能力項目說明
本課程目標定位於在修課的研究生瞭解晚近總體經濟的沿革與發展，培養研究生對於總體經濟的專業知識。
| 教學週次Course Week | 彈性補充教學週次Flexible Supplemental Instruction Week | 彈性補充教學類別Flexible Supplemental Instruction Type |
|---|---|---|
Part I. General Picture
Heijdra, B. J., (2017), Foundations of Modern Macroeconomics, 3rd Edition, Ch. 1. Oxford: Oxford University Press.
Sayer, S., (1997), “Dynamic Macroeconomics,” Journal of Economic Surveys 11, pp. 321-334.
Smith II, H. M., (1997), “Introducing Students to the Competing of Thought in Intermediate Macroeconomics,” Journal of Economic Education 28, pp. 206-221.
Turnovsky, S. J., (1977), Macroeconomic Analysis and Stabilization Analysis, Ch. 2. Mass., Cambridge: Cambridge University Press.
Week 1 and Week 2
Part II. Forward-Looking Rational Expectations and the New Classical Models
陳師孟(1980)，《總體經濟演義》，第17章。台北：自行出版。
賴景昌(2018)，《總體經濟學》，第4版，第10章。台北：雙葉。
Fischer, S., (1977), “Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule,” Journal of Political Economy 85, pp. 191-206.
Heijdra, B. J., (2017), Foundations of Modern Macroeconomics, 3rd Edition, Ch. 3. Oxford: Oxford University Press.
McCallum, B. T., (1980), “Rational Expectations and Macroeconomic Stabilization Policy,” Journal of Money, Credit and Banking 12, pp. 716-746.
McCallum, B. T., (1989), Monetary Economics, Chs. 8-12. New York: Macmillan.
McCallum, B. T. and Whitaker, J. K., (1979), “The Effectiveness of Fiscal Feedback Rules and Automatic Stabilizers under Rational Expectations,” Journal of Monetary Economics 5, pp. 171-186.
Minford, P. and Peel, D., (2002), Advanced Macroeconomics: A Primer, Chs. 2-4. Cheltenham: Edward Elgar.
Muth, J. F., (1961), “Rational Expectations and the Theory of Price Movements,” Econometrica 29, pp. 315-335.
Sargent, T. J., (1987), Macroeconomic Theory, 2nd edition, Chs. 9-10. New York: Academic Press.
Turnovsky, S. J., (1980), “The Choice of Monetary Instruments under Alternative Forms of Price Expectations,” Manchester School 48, pp. 39-63.
Turnovsky, S. J., (1984), “Rational Expectations and the Theory of Macroeconomic Policy: An Exposition of Some of the Issues,” Journal of Economic Education 15, pp. 110-124.
Turnovsky, S. J., (2000), Methods of Macroeconomic Dynamics, 2nd Edition, Chs. 4-6. Mass., Cambridge: MIT Press.
Week 3, Week 4, and Week 5
Part III. Announcement Effects and Investment Theory
陳師孟(1980)，《總體經濟演義》，第19章。台北：自行出版。
賴景昌(1994)，《國際金融理論﹕進階篇》，第3章。台北：茂昌。
Blanchard, O. J., (1981), “Output, the Stock Market, and Interest Rates,” American Economic Review 71, pp. 132-143.
Heijdra, B. J., (2017), Foundations of Modern Macroeconomics, 3rd Edition, Ch. 4. Oxford: Oxford University Press.
Poterba, J. M., (1984), “Tax Subsidies to Owner-Occupied Housing: An Asset-Market Approach,” Quarterly Journal of Economics 99, pp. 729-752.
Romer, D., (2011), Advanced Macroeconomics, 4th Edition, Ch. 9. New York: McGraw-Hill.
Sargent, T. and Wallace, N., (1973), “The Stability of Models of Money and Growth with Perfect Foresight,” Econometrica 41, pp. 1043-1048.
Turnovsky, S. J., (2000), Methods of Macroeconomic Dynamics, 2nd Edition, Ch. 7. Mass., Cambridge: MIT Press.
Week 6 and Week 7
Part IV. Time Inconsistency
賴景昌(2018)，《總體經濟學》，第4版，第13章第5節。台北：雙葉。
Barro, R. J. and Gorden, D. B., (1983), “A Positive Theory of Monetary Policy in a Natural Rate Model,” Journal of Political Economy 91, pp. 589-610.
Barro, R. J. and Gorden, D. B., (1983), "Rules, Discretion and Reputation in a Model of Monetary Policy," Journal of Monetary Economics 12, pp. 101-121.
Candel-Sánchez, F. and Campoy-Miñarro, J. C., (2004), “Is the Walsh Contract Really Optimal?” Public Choice 120, pp. 29-39.
Eijffinger, S. C. W. and Hoeberichts, M., (1998), “The Trade Off Between Central Bank Independence and Conservativeness,” Oxford Economic Papers 50, pp. 397-411.
Froyen, R. T. and Guender, A. V., (2007), Optimal Monetary Policy under Uncertainty, Ch.2 and Ch.6. UK, Cheltenham: Edward Elgar.
Gärtner, M., (2000), “Political Macroeconomics: A Survey of Recent Development,” Journal of Economic Surveys 5, pp. 527-561.
Heijdra, B. J., (2017), Foundations of Modern Macroeconomics, 3rd Edition, Ch. 9. Oxford: Oxford University Press.
Rogoff, K., (1985), “The Optimal Degree of Commitment to an Intermediate Monetary Target,” Quarterly Journal of Economics 100, pp. 1169-1190.
Romer, D., (2011), Advanced Macroeconomics, 4th Edition, Ch. 11. New York: McGraw-Hill.
Waller, C. J., (1987), “Reputation Building in a Monetary Policy Game,” Journal of Macroeconomics 9, pp. 351-371.
Waller, C. J., (1995), “Performance Contracts for Central Bankers,” Federal Reserve Bank of St. Louis Review, pp. 3-14.
Walsh, C., (1995), “Optimal Contracts for Central Banks,” American Economic Review 85, pp. 150-167.
Week 8
Midterm Exam
Week 9, Week 10, and Week 11
Part V. Exogenous Growth and Real Business Cycles Theory
賴景昌(2018)，《總體經濟學》，第4版，第16章。台北：雙葉。
Heijdra, B. J., (2017), Foundations of Modern Macroeconomics, 3rd Edition, Ch. 13 and Ch.18. Oxford: Oxford University Press.
Kydland, F. E. and Prescott, E. C. (1982), “Time to Build and Aggregate Fluctuations,” Econometrica 50, 1345-1370.
Miao, J. J., (2020), Economic Dynamics in Discrete Time, 2nd Edition, Ch.15. Mass., Cambridge: MIT Press.
Prescott, E. C. (2006), “Nobel Lecture: The Transformation of Macroeconomic Policy and Research,” Journal of Political Economy, 203-235
Rebelo, S. (2005), “Real Business Cycle Model: Past, Present and Future,” Scandinavian Journal of Economics 107, 217-238.
Ramsey, F., (1928), “A Mathematical Theory of Saving,” Economic Journal 38, pp. 543-559.
Solow, R. M., (1956), “A Contribution to the Theory of Economic Growth,” Quarterly Journal of Economics 70, pp. 65-94.
Williamson, S. D., (2011), Macroeconomics, 4th Edition. New York: Addison Wesley.
Week 12 and Week 13
Part VI. Endogenous Growth
Barro, R. J. (1990), “Government Spending in a Simple Model of Endogenous Growth,” Journal of Political Economy 98, pp. S103-S125.
Barro, R. J. and Sara-i-Martin, X. (2004), Economic Growth. Mass., Cambridge: MIT Press.
Futagami, K, Morita, Y. and Shibta, A. (1993), “Dynamic Analysis of an Endogenous Growth Model with Public Capital,” Scandinavian Journal of Economics 95, pp. 607-625.
Heijdra, B. J. (2017), Foundations of Modern Macroeconomics, 3rd Edition, Ch. 13. Oxford: Oxford University Press.
Irmen, A. and Kuehnel, J. (2009), “Productive Government Expenditure and Economic Growth,” Journal of Economic Surveys 23, pp. 692-733.
Jones, C. I. and Vollrath, D. (2013), Introduction to Economic Growth, 3rd Edition. New York: W. W. Norton & Company.
Lucas, R. E. (1988), “On the Mechanics of Economic Development,” Journal of Monetary Economics 22, pp. 3-42.
Ramsey, F. (1928), “A Mathematical Theory of Saving,” Economic Journal 38, pp. 543-559.
Romer, D. (2012), Advanced Macroeconomics, 4th Edition, Ch. 3. New York: McGraw-Hill.
Week 14
Part VII. Macroeconomic Model with Monopolistic Competition
Benhabib, J. and Farmer, R. E. A., (1994), “Indeterminacy and Increasing Returns,” Journal of Economic Theory 63, pp. 19-41.
Chen, J. H., Shieh, J. Y., Lai, C. C. and Chang, J. J., (2005), "Productive Public Expenditure and Imperfect Competition with Endogenous Price Markup,” Oxford Economic Papers 57, pp. 522-544.
Coto-Martinez, J., (2006), “Public Capital and Imperfect Competition,” Journal of Public Economics 90, pp. 349-378.
Devereux, M. B., Head, A. C. and Lapham, B. J., (1996), “Monopolistic Competition, Increasing Returns, and the Effects of Government Spending,” Journal of Money, Credit and Banking 28, pp. 233-254.
Devereux, M. B., Head, A.C., and Lapham, B. J., (2000), “Government Spending and Welfare with Returns to Specialization,” Scandinavian Journal of Economics 102, pp. 547-561.
Dixon, H., (1987), “A Simple Model of Imperfect Competition with Walrasian Features,” Oxford Economic Papers, pp. 134-160.
Guo, J. T. and Lansing, K. J., (1999), “Optimal Taxation of Capital Income with Imperfectly Competitive Product Markets,” Journal of Economic Dynamics and Control 23, pp. 967-995.
Heijdra, B. J., (2017), Foundations of Modern Macroeconomics, 3rd Edition, Ch. 11. Oxford: Oxford University Press.
Molana, H. and Moutos, T., (1992), “A Note on Taxation, Imperfect Competition and the Balanced Budget Multiplier,” Oxford Economic Papers, pp. 68-74.
Startz, R., (1989), “Monopolistic Competition as a Foundation for Keynesian Macroeconomic Models,” Quarterly Journal of Economics 104, pp. 737-752.
Week 15 and Week 16
Part VIII. New Keynesian Model and Monetary Policy
Galí, J., (2015), Monetary Policy, Inflation, and the Business Cycle, 2nd Edition. Princeton and Oxford: Princeton University Press.
Heijdra, B. J., (2017), Foundations of Modern Macroeconomics, 3rd Edition, Ch. 19. Oxford: Oxford University Press.
Monacelli, T., (2021), “New Keynesian Model: Nominal Rigidities, Imperfect Competition and Monetary Policy,” Lecture Notes, Bocconi University.
Miao, J. J., (2020), Economic Dynamics in Discrete Time, 2nd Edition, Ch.20. Mass., Cambridge: MIT Press.
Week 17
Final Exam
期中考及期末考各佔50%。
Heijdra, B. J., (2017), Foundations of Modern Macroeconomics, 3rd Edition. Oxford: Oxford University Press.
Romer, D., (2011), Advanced Macroeconomics, 4th Edition. New York: McGraw-Hill
Turnovsky, S. J., (2000), Methods of Macroeconomic Dynamics, 2nd Edition. Mass., Cambridge: MIT Press.
The following academic topics are provided as a reference for students interested in self-learning.
Part VIII. R&D Based Endogenous Growth: Expanding Variety Model
Barro, R. J. and Sala-i-Martin, X. (2004), Economic Growth, 2nd Edition, Ch. 6. Mass., Cambridge: MIT Press.
Grossman, G. M. and Helpman, E. (1991a), “Quality Ladders in the Theory of Growth” Review of Economic Studies 58, pp. 43-61.
Grossman, G. M. and Helpman, E. (1991b), Innovation and Growth in the Global Economy. Mass., Cambridge: MIT Press.
Heijdra, B. J., (2017), Foundations of Modern Macroeconomics, 3rd Edition, Ch. 14. Oxford: Oxford University Press.
Jones, C. I. (1995), “R&D-based Models of Economic Growth,” Journal of Political Economy 103: 759–784.
Jones, C. I. and Vollrath, D. (2013), Introduction to Economic Growth, 3rd Edition, Ch.5. New York: W. W. Norton & Company
Kwan, Y. and Lai, E. L. C. (2003), ‘‘Intellectual Property Rights Protection and Endogenous Economic Growth,’’ Journal of Economic Dynamics and Control 27: 853–873.
Rivera-Batiz, L. A. and Romer, P. M. (1991), “Economic Integration and Endogenous Growth,” Quarterly Journal of Economics 106: 531–555.
Romer, P. (1990), “Endogenous Technical Change,” Journal of Political Economy 98: S71– S102.
Sørensen, P. B. and Whitta-Jocobsen, H. J. (2005), Introducing Advanced Macroeconomics: Growth & Business Cycles, Chs. 9-10. London: McGraw Hill.
Part IX. R&D Based Endogenous Growth: Quality Ladder Model
Akcigit, U. (2017), “Economic Growth: The Past, the Present, and the Future,” Journal of Political Economy 125, pp. 1736-1747.
Barro, R. J. and Sala-i-Martin, X. (2004), Economic Growth, 2nd Edition. Mass., Cambridge: MIT Press.
Chu, A. C. (2009), “Effects of Blocking Patents on R&D: A Quantitative DGE Analysis,” Journal of Economic Growth 14: 55–78.
Chu, Angus C. (2022), “Patent Policy and Economic Growth: A Survey,” Manchester School 90: 237-254.
Grossman, G. M. and Helpman, E. (1991), “Quality Ladders in the Theory of Growth,” Review of Economic Studies 58: 43-61.
Heijdra, B. J., (2017), Foundations of Modern Macroeconomics, 3rd Edition, Ch. 14. Oxford: Oxford University Press.
Jones, C. I. and Vollrath, D. (2013), Introduction to Economic Growth, 3rd Edition, Ch.5. New York: W. W. Norton & Company
本課程為實體授課。