Required Text: Mankiw, N. Gregory - Macroeconomics, 9th edition (Worth Publishers)
Solutions Manual for the text is on reserve in our library.
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Course Description: Macroeconomics is a branch of economics that studies the economy as a whole. The course will focus on the main factors that determine, among other things, the level of the aggregate gross domestic product, the rate of inflation, the overall unemployment rate, and the living standard. What makes macroeconomics exciting is the light it sheds on what is happening around the world, from the sharp downturn in the demand for housing and the current financial crisis, to the large U.S. current account deficits and to the economic rise of China. These events—and many more—will be discussed in this course.
Attention will be paid to the macroeconomic implications of the Federal Reserve’s and the government’s policy. Major attention will also be paid to the important issue of economic growth. The argument about whether monetary policy should be conducted following a rule or using discretion will be highlighted. Other topics will include production functions, consumption functions, investment functions, and money demand functions. Alternative schools of thought including the Classical School, the Keynesian and the New Keynesian Schools will be treated.