One might think that putting together robust links to economics course materials found in the internet archive, Wayback Machine, would be relatively straightforward, and sometimes it is. But most of us are inconsistent with the use of folders and sometimes pages get updated by other people so that traditional archival persistence is generally required to find missing pieces to the historical puzzle. In any event, today’s post manages to pack links to course content for a principles of macroeconomics course taught at M.I.T. exactly two decades ago by Paul Krugman.
I remember that semester well, because immediately after Paul Krugman finished his teaching obligations at M.I.T. for that fall term, he came to Berlin to receive an honorary doctorate from Freie Universität Berlin. The audio recording to his lecture “The return of demand-side economics” can still be heard (beginning around minute 2:00) at a webpage maintained by the John-F.-Kennedy Institute for North American Studies of Freie Universität.
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14.02 Principles of Macroeconomics
Fall 1998
Professor Paul Krugman
Course Syllabus
Text: Olivier Blanchard, Macroeconomics.
Schedule (with links to lecture slides and exams)
Note: the lecture slides may differ slightly from those presented in class.
September 14 — Chapter 2: Preliminary Concepts
Slides: Tracking the Macroeconomy: Five Key Aggregates
September 16 — Chapter 3 & 4: The Goods Market (lecture by Roberto Rigobón)
September 21 — Chapter 5: Financial Markets
Slides: Review. Multiplier Analysis
Handout by Adam B. Ashcroft on bond yields about here
September 23 — Chapter 5: More on Financial Markets
Slides: The Federal Reserve and the Money Supply
September 28 — Chapter 6: IS-LM
Slides: The IS-LM Model
September 30 — Chapter 7: Expectations
Slides: Expectations and Macroeconomics
October 5 — Chapter 8: Expectations, Consumption, and Investment
Slides: Consumer Behavior–Not that simple
October 7 — Banks and the Banking System
Slides: Banking and the Financial System
October 8
Exam 1
October 13 — Chapter 9: Expectations and Financial Markets
Slides: (missing)
October 14 — Chapter 10: Expectations and Policy
Slides: Expectations and Macroeconomic Policy
October 19 — Chapter 11: Introduction to the Open Economy
Slides: The Open Economy
October 21 — Chapter 12: The Open Economy Goods Market
Slides: Macroeconomics in the Open Economy
October 26 — Chapter 13: Interest Rates and Exchange Rates
Slides: What Determines Exchange Rates
Handout on exchange rates about here.
October 28 — Chapter 13: Exchange Rate Regimes
Slides: Fixed Exchange Rates
November 2 — Chapter 14: Expectations, Crises, and General Mayheim
Slides: (missing)
November 4 — Chapter 15: The Labor Market
Slides: Why Study the Labor Market?
November 5
Exam 2
Exam #2 review
Exam #2 questions
Solutions
November 9 — Chapter 16: General Equilibrium
Slides: Putting It All Together–AS-AD
November 16 — Chapter 17: The Phillips Curve
Slides: From Aggregate Supply to the Phillips Curve
November 18 — Chapter 18: Disinflation
Slides: Long-run Unemployment-Inflation Dynamics [note: “?” for the greek letter pi, i.e. rate of inflation]
November 23 — Chapter 19 & 21: Seigniorage and Devaluation
Slides: Inflation, Interest Rates, and Hyperinflation
November 25 — Chapter 22 & 23: Long-run Growth
Slides: Economic Growth
November 30 — Chapter 24: Technical Progress
Slides: Savings, Investment, and Growth
December 2 — Chapter 20: Great Depression and European Unemployment
Slides: High Unemployment and Growth Slowdowns
December 7 — Zuckerman & Krugman Foreign Affairs articles (lecture by Roberto Rigobón)
[Paul Krugman, Debate: America the Boastful, and Mortimer B. Zuckerman, Debate: A Second American Century, Foreign Affairs (May/June 1998)]
December 9 — Course Review
Slide: Overview Graphic [Note: graphic cut-off on right hand side]
Final Examination (December, 2018)
Final Exam Review
Pablo Garcia’s Review
Final Exam Questions
Problem Sets
| Set Number | Assigned | Due | Returned |
| 1 | 9-11 | 9-18 | 9-21 |
| 2 | 9-18 | 9-25 | 9-28 |
| 3 | 9-25 | 10-2 | 10-5 |
| 4 | 10-9 | 10-16 | 10-19 |
| 5 | 10-16 | 10-23 | 10-26 |
| 6 | 10-23 | 10-30 | 11-2 |
| 7 | 11-6 | 11-13 | 11-16 |
| 8 | 11-13 | 11-20 | 11-23 |
| 9 | 11-20 | 12-4 | 12-7 |
Problem Set 3
Solutions (missing)
Optional Problem Set 1
Solutions
Image: Photograph taken in December 1998 at Cecilienhof, Potsdam (Germany). Irwin Collier and Paul Krugman.