: Advanced Open
Prof. Jeffrey Frankel, HKS, Aug. 27, 2012
Quiz for incoming MPA/ID students to gauge preparation in macroeconomics
If you took the test (without looking anything up in books), and scored:
out of 22
, or higher, then you
n’t have anything to worry about. You are
14: You will find it helpful to do some reviewing, especially in those areas where you
11: You have a lot of studying cut out for yo
u. Please try to do it before the semester
starts, or you will quickly get lost.
4 or below: You did no better than the random roll of a die, sorry to say.
you did badly on questions 1
of the quiz, please review topic (A)
7: Chapter 16 in
If you did badly on questions 11
14, please review topic (B)
If you did badly on questions 15
22, please review topic (C)
If none of the above, congratulations!
Background material to review before course
National income accounting
Mankiw, Chapter 2
World Trade & Payments, Ch
(B) KEYNESIAN MODEL, IS
w: Chapters 11
13. [Also 16
17 if you have
: Chapters 17.1
17.3, 18.1, 18.3.
[If you have time: 18.2.]
Also Romer, Chapter 6.1 or Blanchard
(C) AGGREGATE SUPPLY AND INFLATION
7, 10, 14. [And 15 & 18
20, if you have time.]
, Chapter 26. 1, 26.
3. [And 26.2, if you have time].
Most MPA/ID students will have already studied basic and intermediate
macroeconomics. The necessary pre
requisite background in macroeconomics at a basic lev
(low mathematics) is represented by many textbooks, such as
(8th edition, Worth: NY), 2013. This book would be good to read or review for those who need
a lot of reinforcement of the material, especially before the semester
Students will want to acquire
World Trade and Payments
, R. Caves, J. Frankel, and
(10th edition, Addison
Wesley Longman, 2007), especially those who have not
previously taken a serious course in international economics. It is abbreviated
syllabus and will be referred to often in the course.
Also required is
Just one chapter (10) is required for API120, but Romer is
the text for
Macro II, so most students will have to buy it anyway. Level of math is higher.
Also at a considerably more advanced level, the recommended text is Maurice Obstfeld
and Kenneth Rogoff,
Foundations of International Economics
(MIT Press, 199