Queen Mary

  . Home

  . Course outline

  . Last-minute info

  . Lecture notes

  . Problem sets

  . Student links

  . Contact details

ECN 355 Macroeconomic Policy

Last modifed: 14 December2000

Academic year: 2000-1

Lecturer: Giulio Fella

Lectures: Physics Lecture Theatre  Wednesdays 10-12 a.m.

Classes: Thursdays CS 4.45 1-2 p.m. and 2-3 p.m.

Office hours: Wednesdays 12a.m.-1 p.m. and Thursdays 3-4 p.m. in W302 (Queen's building)

Last-minute information: Top

  • The first homework is due on Wednesday 1 November at 5 p.m. rather than in week 5 as initially announced. Delays are subject to a penalty consisting of a 10% reduction in the homework mark. Note that no homework will be accepted after Thursday 2 November at 1 p.m. as by that time I will start discussing the solution in class.
  • Here is the solution to question 2 in problem set 2.
  • The text of homework I is out under the link for problem set 5.
  • The on-line notes for lecture 5 are missing the figures. Please copy the figures from your classmates.
  • A few extra hardcopies of the notes for lecture 5 are available in the folder outside my door.
  • Important: the text of question 2 Homework I is imprecise. The sentence: "Individuals live for two periods and are endowed with income Y..." should be replaced with "Individuals live for two periods and are endowed with Y units of the consumption good ...". The on-line version has been amended.
  • The text of homework II is out under the link for problem set 8. In question 1 assume time is continuous. So the relevant version of Fischer equation is i=r+pi where pi is expected and, given perfect foresight, actual inflation.
  • I have worked out answers to question 2 and 3 in problem set 6. I made a mistake in the solution to question 1 in my 1-2 p.m. class on Thursday 23 November. People who attended that class may want to consult the errata for question 1 under the link above.
  • The text of homework III is out under the link for problem set 11. To answer about what happens to prices and inflation after time t+2 you need to know what the government actually does at t+2. Assume that it actually halves the rate of money growth as promised and that in the case in which people had not believed the announcement, they finally believe it at time t+2. Note that this additional information should not affect your answer about the time path of endogenous variables before t+2.

Lecture notes: Top

The links below take you to the lecture notes. If you cannot view them, either they have not yet been uploaded or your browser does not have the Acrobat Reader® plug-in. You can download it for free.

Lectures: 1 2 3 4 5 6 7 8 9 10 11

Problem sets: Top

Problem sets: 1 2 3 4 5 6 7 8 9 10 11

Giulio Fella
Room W302
Department of Economics
Queen Mary, University of London
Mile End Road, London E1 4NS, UK
Tel.: +44 (0)20 7882 5088   Fax: +44 (0)20 8983 3580