Macro Theory, Measurement & Empirics

Catalog description

This course builds on Econ 501 to apply theoretical analysis to the Macroeconomy, and it adds empirical analysis. We start with a brief review of the history of Macroeconomic theory, and we study the historical Keynesian model along with its policy implications. Then the modern Macro-model is introduced and an in-depth treatment of its implications for a modern and dynamic economic analysis are covered, including: transitions versus steady-states, anticipated versus unanticipated impacts, temporary versus permanent impacts, and more. This modern Macroeconomic model is used to provide insights to economic growth and an in-depth analysis of Fiscal policy implications. This course concludes with an introduction to economic measurement and empirics.