A Course in Modern Macroeconomics

This textbook started as a collection of the teaching notes I used at Stanford. It tries to introduce students to the ideas and way of thinking of modern macroeconomics in a unified way that is accessible with a moderate amount of maths.

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Nice things my friends say

Kurlat has filled an essential void by producing a text, accessible to undergraduates with a moderate amount of mathematical training, that introduces students to the frontier of modern macroeconomics. I will be teaching from it this year and recommend it to instructors at the intermediate or masters level and to mathematically-inclined students who want to learn what macroeconomics is all about.

Gabriel Chodorow-Reich, Harvard University


This outstanding book covers modern macroeconomic ideas with extreme rigor but without heavy math and keeping the focus on real-world applications and policy implications. Readers will find a very accessible coverage of microeconomic foundations and a thoughtful treatment of long-run and short-run macroeconomic models. Every instructor who teaches undergraduate macroeconomics at an intermediate or advanced level should consider using this book.

Alp Simsek, Massachusetts Institute of Technology


A fantastic introduction to macroeconomics for advanced undergraduates. I use it as background reading for my masters level course at the LSE on growth as well. What makes the book stand out is a very accessible, indeed, a sparkling conversational style combined with analytical rigour and a masterly overview of the literature. It is rare to find a textbook that is so lucidly written and yet analytically so solid.

Maitreesh Ghatak, London School of Economics


Corrections

The rental rate of capital (page 66)

Steady state growth (page 72)

The Capital Accumulation Hypothesis (page 85)

Dynamic Leisure Choice (page 140 )

Credit Constraints (Exercise 8.7, page 163)

Bank Seignorage (Exercise 11.7, page 221)

The Value of Growth (Exercise 12.4, page 238). Set beta = 0.97.

The Expectations-Augmented Philips Curve (page 296)

More to come, inevitably...