The purpose of this course is to provide a comprehensive overview of the core ideas of macroeconomics by focusing on the macroeconomic model building. It offers students to the various models in macroeconomics including micro foundation of macroeconomics, work effort and production, consumption and investment modeling, labor market and unemployment theory, growth and real business cycle models, the open economy modeling, the modeling of monetary economy, the government sector modeling also the economic policy in theory and practice.
Course Content (Syllabus)
The course is primarily concerned with two issues: (i) developing positive models in order to understand the dynamics of key macroeconomic variables such as output, employment, unemployment, inflation, interest rates, etc.; and (ii) deriving normative prescriptions for macroeconomic policymaking, in particular regarding the proper setting of fiscal and monetary policies.
Course Bibliography (Eudoxus)
- David Romer, Advanced Macroeconomics, McGraw-Hill/Irwin, 2006 .
- Heijdra, Ben J. and Van Der Ploeg, Foundations of Modern Macroeconomics, Oxford U.P., 2002
- Obstfeld, Maurice and Rogoff, Foundations of International Macroeconomics , MIT, 1996