• This course employs the tools of macroeconomics to study various macroeconomic problems. 

• The problems range from economic stability in the short run to change prices and economic growth in the long run. 

• We cover macroeconomic theories and models and apply them to address macroeconomic issues in the real world.

Macroeoconomic Theory I – Fall

The MT1 has two main parts: theories and applications. 

First, students gain conceptual and theoretical knowledge.  Then, we develop models to explain the long-run dynamics of the economy by developing the tools of modern growth theory. 

The first semester covers the Solow growth model and how the economy evolves over the roles of capital accumulation and population growth. 

In particular, we will try to address the following types of questions:

• What are the determinants of economic growth?

• How to achieve sustainable income growth in the long run?

We analyze some of the microeconomic decisions behind macroeconomic phenomena. 

Macroeoconomic Theory II – Spring

The MT2 has two main parts: theories and applications. First, students gain conceptual and theoretical knowledge.  Then, we develop models to explain the economy in the short run.

The primary goal of the second semester is to develop a consistent framework for thinking about key macroeconomic phenomena, such as the output gap, inflation, and unemployment.

In particular, we will try to address the following types of questions:

• Why does macroeconomic activity fluctuate? 

• How do different shocks and policies affect employment, output, inflation, investment, and consumption over the business cycle?

Once students have a solid command of standard macroeconomic models, we use them as a foundation for discussing key debates in economic policy.