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Macro bootcamp

Updated: July 2011

The Macro Bootcamp is a short and intensive reading group that serves as a refresher for a graduate level class in contemporary macroeconomics. It aims to cover the seminal texts of the most prominent schools of thought, and act as a foundation for applications to current policy debates.

1. Advanced reading

Participants are advised to read the following book, which provides an excellent introduction to modern macroeconomics from a school-of-thought approach. The interviews at the end of the book in particular are worth attention:

 

2. Reading list: key articles

Note: this reading list is heavily influcenced by Tyler Cowen’s Macro I Reading List, Fall 2006 (.pdf). For a previous version see here.

History of thought/background

Real Business Cycles

Keynesian economics

Monetary policy

 

3. Further reading

The classic graduate text for macro is David Romer. It is the best treatment of the alternative growth models, and then has a chapter on each variable of national income accounting. Participants are advised to grapple with it after the bootcamp has taken place

It is also a good idea to see how various Austrian, Keynesian and Moneratist ideas can be integrated into a heterodox narrative. See Arnold Kling’s “Lectures on Macroeconomics“.

Participants are also advised to keep abreast of the conversation of economics:

Blogs

Audio

 

4. Reading list: applications & policy debates

The Great Depression

  • Bernanke, Essays on the Great Depression, 1995, JMCB
  • Higgs, R., Regime Uncertainty
  • Rothbard
  • Friedman & Schwartz
  • Larry White, “Hayek and Robbins on the Great Depression” JMCB

The Great Recession

 

5. Agenda

Session 1 Thursday 28th July

2pm-3:45pm: History of thought/background
4pm-5:45pm: Real Business Cycles

Session 2: Tuesday 2nd August

2pm-3:45pm: Keynesian economics
4pm-5:45pm: Monetary policy

Session 3: Spring 2012

2pm-3:45pm: The Great Depression
4pm-5:45pm: The Great Recession

The meetings will take place in central London, but the location will be only be given to accepted participants

Posted in suggested reading.