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ECO-714 Advanced Macroeconomics
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Campus
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S3H
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Programs
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PG
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Session
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Fall Semester 2016
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Course Title
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Advanced Macroeconomics
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Course Code
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ECO-714
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Credit Hours
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3 Hours/week
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Pre-Requisutes
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Macroeconomic Theory
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Course Objectives
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This is the graduate macroeconomics core sequence course. The aim is to provide students with an introduction to the models and techniques used to address and understand issues in consumption, savings and investment decisions, unemployment, government expenditures, and monetary economics and policy among other topics. The focus is on theoretical models and findings. The student who completes this course will have a broad knowledge of many of the important models and questions at the forefront of current research in macroeconomics
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Detail Content
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- Review of macroeconomic revolutions, classical new classical, monetarist and activist contributions
- Microeconomic foundations for Macroeconomic Analysis
- Macroeconomic Disequilibrium models
- Static Model: Consumption investment and money demand functions in Classical, Keynesian and Monetarist frameworks, IS-LM model. Closed
- Economy Macroeconomics: Aggregate demand and fiscal policy, aggregate demand and money supply, relative effectiveness of fiscal and money policies in cases of interest inelastic investment demand and liquidity trap, arguments of ‘crowding out’ and Ricardian equivalence’ against fiscal policy, supply-side view of government taxation. Crowding out hypothesis.
- Open Economy Macroeconomics: Various Theories of Balance of Payments. Determination of equilibrium exchange rate. Exchange Rate Management under fixed, floating and managed float system. Mundell- Fleming Model. Effectiveness of Monetary and Fiscal Policies under various exchange rate arrangements.
- Rational Expectations and Policy Implications: Expectations augmented Phillips Curve. Rational expectations hypothesis and policy ineffectiveness proposition.
- Trade Cycles
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Text/Ref Books
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- Romer, David (2001) Advanced Macroeconomics 2nd edition, New York: McGraw-Hill.
- Blanchard, Olivier (1997) Macroeconomics. London: Prentice-Hall.
- Robert Barro and Xavier Sala-i-Martin, Economic Growth, McGraw-Hill, 2nd edition, MIT Press 2004
- Sargent, T. (1987) Dynamic Macroeconomic Theory Harvard University Press.
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Time Schedule
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Fall Semester 2015
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Faculty/Resource Person
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Dr. Athar Maqsood
PhD (John Hopkins University), USA
Discipline: Economics
Specialization: Macro and Monetary Economics
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