Notes, codes and exercises


Expository notes for March 4 slides: "Technical notes to Walsh (2017), Chapter 7"

Expository notes for April 18 slides: "Technical notes to Walsh (2017), Chapter 12"


Use of codes requires installation of MatLab software, which is available on campus. A free alternative to MatLab is Octave, but I have not tried the codes on that platform. Moreover, most codes require installation of Dynare, which is a free sofware package. An quick introduction to the use of Dynare for simulation of stochastic macroeconomic models (DSGE models) can be found on the Dynare site.




March 25: Exercise on MIU model

March 25: Exercise on CIA model with investment

May 1: Exercise on MIU model with sticky wages
            This exercise requires the book to help out, and is more difficult than an exam question.
            If you can solve it, however, you will be ready to use the method of undetermined coefficients.
    (Solution note. This is an extended note, which provides detailed intuition and some history of
    economic thought. Don't be scared that it pertains to the 2010 version of the Walsh book; it
    it follows the same steps as in the 2017 version)

May 6: Exercise on simple New Keynesian model

May 17: Exercise on discretionary policy in simple NK model

Old exam sets

Go here for a collection of previous exam sets and suggested solutions (the course was called "Monetary Economics: Macro Aspects" prior to 2016 and the name sticks to this link). Note that Walsh's book from 2017 and onwards is the newest (4th) version, and that the course has changed over time. So the sets get less and less representative going back in time.