Analysis of the determinants of the aggregate level of output, income, employment and prices
Scope and Objectives
This course is designed to familiarize students with the tools of modern macroeconomic theory at the intermediate undergraduate level. Models are developed to explain how output, unemployment and inflation are determined. These models then are used examine the determinants of economic growth, business cycles, and to analyze monetary and fiscal policies.
At the end of this course, you should be able to:
(i) define and analyze data on key macroeconomic variables,
(ii) identify and discuss the sources of differences in living standards and economic growth across countries,
(iii) understand the sources of economic fluctuations over time,
(iv) examine the role of monetary and fiscal policy in the economy, and
(v) discuss and evaluate competing macroeconomic theories.
Another aim of this class is to give you the necessary tools to critically read and discuss current macroeconomic events. By the end of the semester, you will have a general understanding of the sources of economic growth and business cycles, such that you are able to address policy debates using theoretical and empirical analysis.