Instructors: Sergi Basco 

Office Hours: To be scheduled by the instructors.

Time and Classroom:  Monday and Thursdays from noon to 2pm in room 1027.

HANDBOOK

There is no handbook. Recommended books include

1. Basco, S. (2018). Housing Bubbles: Origins and Consequences. Palgrave Macmillan

2. Mankiw, G. (2010). Macroeconomics. Worth Publishing.

3. Romer, D. (2011). Advanced Macroeconomics. McGraw Hill

GRADING  (CONTINUOUS EVALUATION)

Midterm Evalutation (Test I): 45 %

End-of-course Evalutation (Test II): 45%

Class participation: 10%

IMPORTANT: A grade of 3 in both Test I and Test II is required to pass the course.

IMPORTANT (ii):  To opt for the UNIQUE EVALUATION, you need to formally request it before the end of the second week of lectures.

PART I: EXPECTATIONS

1. Introduction

2. Types of Expectations

3. Cobweb Model

4. Hyperinflation:Cagan Model

5. Lucas Imperfect Information Model

PART II: MONETARY POLICY

1. Costs of Inflation

2. Optimal Monetary Policy: Backward

3. Optimal Monetary Policy: Forward

4. Liquidity Trap

5. Dynamic Inconsistency

PART III: BUSINESS CYCLES

1. Economic Effects of Pandemics

2. Business Cycles Facts

3. A Model of Real Business Cycles

4. New Keynesian Models

PART IV: EXPECTATIONS AND FINANCIAL MARKETS

1. Introduction to Asset Price Bubbles

2. A Model of Bank Runs

3. Currency Crises