Macroeconomics III

Catalog description

Real business cycle and new Keynesian models: business cycle fluctuations, inflation dynamics, the effects of monetary and fiscal policy, and optimal policy. Models of heterogeneity: search models of the labor market; precautionary savings and general equilibrium with incomplete markets; constrained efficiency; endogenous market incompleteness and recursive contracts; optimal taxation and redistribution. Enrollment is limited to Econ PhD students for the first two weeks of open enrollment, after which the remaining space will be available to all other interested students. Prerequisites: ECON 203, ECON 210, ECON 211.