This course builds on fundamental concepts and techniques learned in ECON 3101 (equivalently, ECON 3011 and ECON 3012), and ECON 1102 as a follow-up to ECON 3023 (Intermediate Macroeconomics II). The purpose of this course (together with ECON 3023) is to introduce you to modern macroeconomics by building macroeconomic models from microeconomic principles, which is consistent with the way that macroeconomic research is conducted nowadays. More specifically, the topics that will be discussed are savings and investment, monetary theory, monetary and fiscal policies, search and unemployment, banking and macroeconomics, and open economy macroeconomics. Emphasis will be given to a general equilibrium approach. It also examines the applications of the theory, especially current modern macroeconomic policy issues. An introductory economics course is meant to teach the language of economics, while an intermediate course is intended to teach some of the tools of economics. To that end, our goals for this course will be to: Learn about the measurement of macroeconomic data, develop an understanding of the foundations of modern macroeconomic models, subject these various models to data and determine their empirical relevance, and use these models to gain a deeper understanding of economic growth and business cycles. This course analyzes the basic concepts in macroeconomic theory. In particular, it examines the applications of the theory, especially current modern macroeconomic policy issues.
prereq/coreq: ECON 3023