Number of Credits: 7 credits
Hours: 30 hours of Lectures, 30 hours of Tutorials including exam, and 20 hours of flipped Classrooms with tutor support.
General Presentation: This course examines theoretical Macroeconomics. It will include a number of topics:
1) Economics Growth: the Solow model
2) Consumption Behavior
3) Economic Growth with Endogenous Saving Behavior: the Ramsey-Cass-Koopmans model
4) The Labor Market: efficiency wages, matching models, the equilibrium rate of unemployment
5) Market Imperfections: price and wage inertia, imperfect competition and macroeconomics, coordination failures, and neo-Keynesian theory
6) Open-Economy Macroeconomics: the Dornbusch model, exchange rates, and current account dynamics
7) Macroeconomic Policy: rules vs discretion, credibility, Taylor rules, the new neoclassical synthesis, the new IS-LM model.
Books: David Romer, Advanced Macroeconomics, (Mac Graw-Hill, second edition, 2001). O. Blanchard and S. Fischer, Lectures on Macroeconomics, The MIT Press.
Prerequisites: Logic and Sets, Multivariable Calculus, and Optimization.