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Description:
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The object of this course is to provide a simple but rigorous framework for understanding modern macroeconomic issues, debates, crises and solutions. We will develop simple models of the economy that can be used to: (1) better understand the behavior of the economy as a whole, and to (2) better understand the sources of the various controversies concerning macroeconomic policy.
Additional topics that will be relative to this course:
The broad set of questions we will address is the following:
* How do we measure an economy’s performance and well-being?
* What drives long run economic growth and how do we understand the patterns of economic development?
* What is the nature short run fluctuations (recessions and booms) and what causes them?
* What can government policy do to affect growth, recessions and booms?
* How do domestic fiscal policies (tax policies and government spending) affect economic well-being and growth?
* How do monetary institutions and monetary policy (Federal Reserve Bank and its policies) influence the economic environment and the business climate?
* How do international monetary institutions and policies affect the business environment?
The topics covered in this course are relevant to/for:
Managerial Economics, Finance, Non-profit Studies, Political Economy
Assignments relative to this course:
Graded work will consist of 7 (weekly) assignments (20 points each, some of which will be case assignments, 25% of total grade), a midterm (140 points, 25% of total grade) and a final exam (180 points, 1/3 of total grade) which will emphasize, but not be restricted to, content from the second half of the course. Group work is required for the assignments; groups can at most include 4 people. (40 points, 8% of total grade) will be determined by peer review for assignments, and another 50 points (9% of total grade) for class participation. Come to class prepared because I will cold call and determine your class participation accordingly. Final grades will be determined on a relative basis: students with the highest total points will receive As, those next in line will receive Bs, etc.
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