Course Description
Dynamic, stochastic models of macroeconomic behavior, including neoclassical and endogenous models of economic growth and New Classical and New Keynesian models of the business cycle.
Athena Title
MACROECONOMICS II
Prerequisite
ECON 8040
Semester Course Offered
Offered every year.
Grading System
A - F (Traditional)
Course Objectives
Developing and using techniques of continuous-time dynamic optimization, students will study the role of fiscal and monetary policies in centralized and decentralized economies and their welfare implications; explore recent developments in economic growth theory; and briefly study some basic issues in international macroeconomics.
Topical Outline
Introduction to Continuous-Time Dynamic Optimization Rational Expectations and Saddlepoint Behavior The Basic Infinite-Horizon Representative Agent Model Distortionary Taxes and Inflation Optimal Monetary and Fiscal Policy Endogenous Growth: Recent Developments Introduction to International Macroeconomics
Syllabus