Question

In this subfield, the notoriously slow Krusell–Smith algorithm that allows for aggregate uncertainty can be sped up using the endogenous gridpoints method. Computation in this subfield is facilitated by the program Dynare, (-5[1])which can be used to implement an overlapping generations framework. The workhorse DSGE models used in this subfield are often criticized for reliance on “representative agents.” In this subfield, a lack of deep parameters until the 1970s spurred the Lucas critique, (10[1])which was a key contribution of the “freshwater school.” A pioneering model in this subfield developed by John Hicks plots a downward-sloping IS curve against an upwards-sloping LM curve. For 10 points, name this broad subfield (-5[1])of economics in which Keynesians (“CANE-zee-ins”) might advocate (10[1])countercyclical government spending. ■END■ (10[2]0[2])

ANSWER: macroeconomics [accept macroeconometrics; accept fiscal policy or monetary policy or macroeconomic policy; prompt on economics or freshwater economics by asking “what subfield of economics?”; prompt on econometrics or optimization or dynamic programming by asking “used in what other subfield?”; reject “monetary economics”]
<Social Science>
= Average correct buzz position

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Buzzes

PlayerTeamOpponentBuzz PositionValue
Jerry VinokurovJohn JayNYU A31-5
Geoffrey Wu (UG)Columbia ANYU B7210
Jason Qin (DII)Columbia CHaverford108-5
Sam Macchi (DII)VassarRowan11510
William Groger (UG)Columbia BPenn1190
Andrew HannaPennColumbia B1190
Arjun Bothra (UG)HaverfordColumbia C11910
Halle FriedmanNYU AJohn Jay11910