In-class activities

Group activities

Each scheduled lecture has a 55-minute group activity in three phases: quick concept checks, a worked problem on real data, and a real episode with a hidden ending. The activity is worked live in class; the handout and solutions are posted afterwards.

Activity materials are posted after each session. The handout and solution buttons are shown but stay locked until then, so the activity is worked fresh in class rather than read ahead.

Activity 1 · Jones 1 · Lecture 1

Introduction to Macroeconomics

Work with the main macro variables and read two economies' long-run paths on a ratio scale.

Handout Solutions

Activity 2 · Jones 2–3 · Lecture 2

Measuring Output and the Facts of Growth

Chain-weight a price index and convert with PPP, then place a country on the growth-versus-level scatter.

Handout Solutions

Activity 3 · Jones 4–5 · Lecture 3

Production and Growth Facts

Use the production model and growth facts to separate capital, labour and productivity.

Handout Solutions

Activity 4 · Jones 6 · Lecture 4

The Solow Model

Solve a Solow steady state and trace transition dynamics, then a real catch-up growth episode.

Handout Solutions

Activity 5 · Jones 7 · Lecture 5

The Labour Market and the Bathtub of Unemployment

Compute the bathtub natural rate, then wage rigidity and a real labour-market episode.

Handout Solutions

Activity 6 · Jones 8 · Lecture 6

Inflation, Money Neutrality and its Fiscal Roots

Use the quantity theory and the Fisher equation, then the fiscal roots of a real high-inflation episode.

Handout Solutions

Activity 7 · Jones 9–10 · Lecture 7

The Short Run, Output Gaps and Bank Runs

Measure an output gap and trace a leverage spiral, then 2008 versus Covid-19.

Handout Solutions

Activity 8 · Jones 11–12 · Lecture 8

The IS Curve, Monetary Policy and Phillips

Run the IS–MP–Phillips model on a shock, then the Taylor rule and the Volcker disinflation.

Handout Solutions

Activity 9 · Jones 13–14 · Lecture 9

Stabilisation Policy: the AS/AD Model

Use AS/AD to trace a crisis at the zero lower bound, then quantitative easing in a real episode.

Handout Solutions

Activity 10 · Jones 18 · Lecture 10

Government, Debt and Fiscal Policy

Run the debt-GDP snowball and judge sustainability, then a real debt crisis and the role of the central bank.

Handout Solutions

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