Professor of Economics
Department of Economics
Office: 461 Engineering 2
Phone: 831-459-3407 begin_of_the_skype_highlightingend_of_the_skype_highlighting
Fax: 831-459-5077
E-mail: kkletzer@ucsc.edu
Lectures: Physical Sciences 136, TTh 4:00 - 5:45pm
Professor Kletzer’s
Office Hours
When:
Tuesday and Wednesday 1:00-2:00, or by appointment
Where:
Engineering 2, Room 461.
Other
ways to contact me:
by phone,
459-3407, and by email, kkletzer@ucsc.edu
Print out copy of Course Syllabus (pdf)
Thus far, this reading list
covers weeks 1 through 4.
Part I: The Long Run
Week 1 Introduction
to Macroeconomics and Economic Growth
Jones, Chapters 1-3
Amartya Sen,
“Quality of Life in
Richard
Easterlin, “When Growth Outpaces Happiness,”
Week 2 Production, Inputs and
Growth
Jones, Chapters 4-5
Paul
Krugman, “The Myth of Asia’s Miracle,” Foreign Affairs, November/December
1994. http://media.ft.com/cms/b8268ffe-7572-11db-aea1-0000779e2340.pdf
Paul
Romer, “For Richer, For Poorer,” Prospect, January 27, 2010. http://www.prospectmagazine.co.uk/magazine/for-richer-for-poorer/
Margaret
Jacobson and Filippo Occhino,
“Behind
the Decline in Labor’s Share of Income,” Federal Reserve Bank of Cleveland,
Economic Trends, February 3, 2012.
Week 3 Technology, Innovation
and Growth
Jones, Chapter 6
“Has the Ideas Machine Broken Down,” The Economist, January 12, 2013. http://www.economist.com/news/briefing/21569381-idea-innovation-and-new-technology-have-stopped-driving-growth-getting-increasing
Institutions, Geography and Growth:
Jeffrey
Sachs, “Government, Geography and Growth,” Foreign
Affairs, September/October, 2012. http://jeffsachs.org/wp-content/uploads/2012/08/Why-Nations-Fail_Sachs-Review.pdf
Leander
Heldring and James Robinson, “Colonialism and
Development in
Week 4 Labor Markets and
Inflation
Jones, Chapters 7-8
Thomas
Piketty and Emmanuel Saez,
“The Evolution of Top Incomes: A Historical and International Perspective,” American Economic Review, 2006. http://elsa.berkeley.edu/~saez/piketty-saezAEAPP06.pdf
Janet
Yellen, “Economic Inequality in the
Part II: The Short Run
Week 5 Goods Markets in the
Short Run
Jones, Chapters 9-11
Week 6 Monetary Policy
Jones, Chapter 12
Federal
Reserve Bank of
Week 7 Stabilization Policy and
the Great Recession
Jones, Chapters 13-14
Mary
Daly and Bart Hobijn, “Okun’s
Law and the Unemployment Surprise of 2009,” Federal Reserve Bank of San
Francisco Economic Letter, March 8,
2010. http://www.frbsf.org/publications/economics/letter/2010/el2010-07.html
Week 8 Consumption
and Investment
Jones, Chapters 15-16
Week 9 Fiscal Policy and International
Trade
Jones, Chapters 17-18
Week 10 Exchange
Rates and International Finance
Jones, Chapter 18-19
Financial Crisis Past and Present
Christina Romer, “The Nation in Depression,” Journal of Economic Perspectives, Spring 1993. http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.7.2.19
Frederic S. Mishkin, “Over the Cliff: From the Subprime to the Global
Financial Crisis,” Journal of Economic
Perspectives, Winter 2011. http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.25.1.49
Vincent Reinhart, “A Year
of Living Dangerously: The Management of the Financial Crisis in 2008,” Journal of Economic Perspectives, Winter
2011. http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.25.1.71
Simon Johnson and James
Kwan, Blog Guide to the Financial Crisis: http://baselinescenario.com/financial-crisis-for-beginners/
Monetary Policy
David Romer,
“Keynesian Macroeconomics without the LM Curve,” The Journal of Economic Perspectives, Spring 2000. http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.14.2.149
Ben S. Bernanke,
"What Have We Learned Since October 1979?” Federal Reserve Bank of
Income Inequality
Zanny
Minton Beddoes, “For Richer, For Poorer,” The
Economist, Oct 12, 2012. http://www.economist.com/node/21564414
Emmanuel
Saez, “Striking It Richer: The Evolution of the Top
Incomes in the
http://elsa.berkeley.edu/~saez/saez-UStopincomes-2011.pdf
Well-being
Carol
Graham, “Happiness Economics: Can We Have an Economy of Well-being,” VoxEU, July 31,
2011. http://www.voxeu.org/article/happiness-economics-can-we-have-economy-wellbeing
Robert
Frank, “Income and Happiness: An Imperfect Link,” New York Times, March 9, 2009.
http://www.nytimes.com/2008/03/09/business/09view.html?ex=1362718800&en=e0525c458b2d83df&ei=5124&partner=permalink&exprod=permalink
Websites with data
and information on the U.S. Economy:
Bureau of Labor
Statistics: Labor market and price level data
Bureau of
Economic Analysis: GDP, production and income data
Bureau of
the Census: Data on households and firms
Federal Reserve, monetary and
financial data
The appendices to
the Economic Report of the President provide comprehensive data on the
Economic
Report of the President
The
The
Office of Management and Budget
It's analysis is
at
These sites give
leading indicators for the
A great source of
links to lots of websites with information on the economy and for economists:
Resources
for Economists, American Economics Association
Links to world newspapers and
online news