Teaching forums

Modernizing the teaching of monetary policy. The macro policy environment has changed a great deal since MV=PY and the LM curve. The money supply per se is no longer relevant in developed countries. Interest rate rules are constrained by the zero lower bound (ZLB). Central banks are using the asset sides of their balance sheets as a policy instrument. And new tools, such as interest on excess reserves, reverse repos, and corridor systems are being used to set interest rates. How can/should these developments be incorporated into the macro curriculum?  Contributors:

  • Karl Boulware, Wesleyan
  • Ken Kuttner, Williams

Teaching students to do empirical macro. Typical required econometrics/stats courses focus on cross-sectional or panel methods. Given this constraint, how can we enable our students to do empirical macro research? Can we integrate time-series techniques into upper-division electives or must we ask students to re-purpose micro methods to address macro questions? Which time-series techniques are most accessible/useful? Contributors:

  • Dean Scrimgeour, Colgate
  • Paul Shea, Bates

Using computational methods to teach macro. Can computation and/or simulation methods enable instructors to teach dynamic or general equilibrium models that would otherwise be out of reach to undergraduate students? Which topics are most amenable to computational approaches?  What are the software options? Contributors:

  • Srikanth Ramamurthy, Loyola
  • Mario Solis-Garcia, Macalster
  • Manisha Goel, Pomona

Advising student research. How do you get an enthusiastic student with inchoate ideas to produce a successful seminar/capstone paper or thesis?  How can you help him or her choose or narrow down a topic?  What analytical methods are most successful?  Are there any proven templates for macro research papers/theses? Contributors:

  • Dean Croushore, Richmond
  • Ann Owen, Hamilton
  • Nicole Simpson, Colgate