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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 better understand the behavior of the economy as a whole and the sources of the various controversies concerning macroeconomic policy. The class notes and topics are updated every mini and throughout the course in an effort to incorporate both new research in macroeconomics and topical issues in the US economy and worldwide.
The broad set of questions we will address is the following:
1) How do we measure an economy’s performance and well-being?
2) What drives long run economic growth and how do we understand the patterns of economic development?
3) What is the nature short run fluctuations recessions and booms and what causes them?
4) What can government policy do to affect growth recessions and booms
5) How do domestic fiscal policies tax policies and government spending affect economic well-being and growth?
6) How do monetary institutions and monetary policy Federal Reserve Bank and its policies influence the economic environment and the business climate?
7) How do international monetary institutions and policies affect the business environment?
The topics covered in this course are relevant for:
Managerial Economics, Finance, Non-profit Studies, Political Economy
Assignments relative to this course:
Graded work will consist of 5 weekly assignments (40% of the total class grade) and a final exam (40% of the total class grade). The remaining 20% will come from peer reviews and class participation. Group work is required for the assignments and groups can at most include 4 people. 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. (Rev. 4/09)
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