ECON 2020-100 Principles of Macroeconomics
... During the course, there will be three hour-long exams. The first two will be given during the semester, and the third will be given during the first hour of the final exam period. The last hour-and-a-half of the final exam period will be a cumulative final exam. This cumulative final exam is option ...
... During the course, there will be three hour-long exams. The first two will be given during the semester, and the third will be given during the first hour of the final exam period. The last hour-and-a-half of the final exam period will be a cumulative final exam. This cumulative final exam is option ...
Macroeconomics Out Line
... The course is divided into three parts: introductory macroeconomics and measurement of macroeconomic aggregates, growths and institutions, and macroeconomic policies. The course will cover long-run and short-run macroeconomics; aggregate demand and national income accounts; saving and finance; inves ...
... The course is divided into three parts: introductory macroeconomics and measurement of macroeconomic aggregates, growths and institutions, and macroeconomic policies. The course will cover long-run and short-run macroeconomics; aggregate demand and national income accounts; saving and finance; inves ...
keynesian economics
... Demand-side economics – the idea that govt. spending and tax cuts help an economy by raising demand John Maynard Keynes developed this theory after the Great Depression. His ultimate goal was to tell economists and politicians how to get out of and avoid economics crisis. Keynes believe that 2 thing ...
... Demand-side economics – the idea that govt. spending and tax cuts help an economy by raising demand John Maynard Keynes developed this theory after the Great Depression. His ultimate goal was to tell economists and politicians how to get out of and avoid economics crisis. Keynes believe that 2 thing ...
A New Micro-Foundation for Keynesian Economics
... into the models, the assumption of the representative agent is usually made. By and large, these exercises lead us to neoclassical macroeconomics. The real business cycle (RBC) theory (e.g., Kydland and Prescott 1982) praised so highly by Lucas (1987) is the foremost example. The “Great Recession” a ...
... into the models, the assumption of the representative agent is usually made. By and large, these exercises lead us to neoclassical macroeconomics. The real business cycle (RBC) theory (e.g., Kydland and Prescott 1982) praised so highly by Lucas (1987) is the foremost example. The “Great Recession” a ...
AP® Macroeconomics: Syllabus 2
... that odd-man-out problem). The use of groups will allow for specialization, division of labor, and team building. There is a possibility of having a management professor or graduate student from a nearby university serve as a mentor to assist the student research team in their design and execution o ...
... that odd-man-out problem). The use of groups will allow for specialization, division of labor, and team building. There is a possibility of having a management professor or graduate student from a nearby university serve as a mentor to assist the student research team in their design and execution o ...
Slide 1 - Federal Reserve Bank of Dallas
... • “Closed economy Taylor rule” has served us well for well over a decade • Competition for a winning “open economy Taylor rule” is still on – CGG and Clarida paper offer useful theoretical leads – Coordination and indeterminacy are challenging complications ...
... • “Closed economy Taylor rule” has served us well for well over a decade • Competition for a winning “open economy Taylor rule” is still on – CGG and Clarida paper offer useful theoretical leads – Coordination and indeterminacy are challenging complications ...
Chapter 4 A Review of .M. Keynes SECTION 2 MONETARY
... frequency theory, developed an ingenious theory of decision-making under uncertainty. Each managerial decision is a unique event, he pOSited, and this calls the choice-theoretic basis of reductionism into question. Without a stable basiS in choice logic the concept of market eqUilibrium collapses. B ...
... frequency theory, developed an ingenious theory of decision-making under uncertainty. Each managerial decision is a unique event, he pOSited, and this calls the choice-theoretic basis of reductionism into question. Without a stable basiS in choice logic the concept of market eqUilibrium collapses. B ...
Goal 1: Define and draw model of macroeconomic equilibrium
... -Movement from Qf to Q1 is a recession -less workers are needed causing cyclical unemployment Decreases in AS: Cost-Push Inflation -Example: Major terrorist attack on oil facilities -Drives oil prices up 300 percent -high energy prices would drive up production costs and distribution costs -AS curv ...
... -Movement from Qf to Q1 is a recession -less workers are needed causing cyclical unemployment Decreases in AS: Cost-Push Inflation -Example: Major terrorist attack on oil facilities -Drives oil prices up 300 percent -high energy prices would drive up production costs and distribution costs -AS curv ...
Answers to Questions in Chapter 20
... there had been no technological progress as a result of the previous shift from AD to AD1. If, however, earlier investment had led to new more productive plant and machinery being used, then a fall in aggregate demand will lead to the older, less efficient plant and machinery being scrapped. The res ...
... there had been no technological progress as a result of the previous shift from AD to AD1. If, however, earlier investment had led to new more productive plant and machinery being used, then a fall in aggregate demand will lead to the older, less efficient plant and machinery being scrapped. The res ...
Comments on Daniel Benjamin and David Laibson:
... agree, and the proposal to privatize Social Security to increase national saving, with which I strongly disagree Behavioral Economics and the Phillips Curve. Behavioral economics has important implications for the Phillips curve and macroeconomic policy. In particular, it points to the possibility t ...
... agree, and the proposal to privatize Social Security to increase national saving, with which I strongly disagree Behavioral Economics and the Phillips Curve. Behavioral economics has important implications for the Phillips curve and macroeconomic policy. In particular, it points to the possibility t ...
THE IS-LM MODEL First developed 1937 by JR Hicks, as a way
... THE IS-LM MODEL First developed 1937 by J.R. Hicks, as a way to understand Keynes’ “General theory of employment, interest, and money” Codified in more or less modern form 1944 by MIT’s Franco Modigliani IS-LM is the workhorse of applied macroeconomics. It is the way most policy-oriented macro analy ...
... THE IS-LM MODEL First developed 1937 by J.R. Hicks, as a way to understand Keynes’ “General theory of employment, interest, and money” Codified in more or less modern form 1944 by MIT’s Franco Modigliani IS-LM is the workhorse of applied macroeconomics. It is the way most policy-oriented macro analy ...
ECON 3080-003 Intermediate Macroeconomic Theory
... great emphasis on these policy implications, whether they be fiscal policies, monetary policies, or policies of other types. As I see it, we are concerned with understanding how policy makers can make society a better place for us to live and work. Thus, without neglecting theory, I plan to place gr ...
... great emphasis on these policy implications, whether they be fiscal policies, monetary policies, or policies of other types. As I see it, we are concerned with understanding how policy makers can make society a better place for us to live and work. Thus, without neglecting theory, I plan to place gr ...
MACROECONOMIC THEORY days 11:45-12:45 and Thursdays 1:45-2:45
... Do disinflation policies inevitably lead to high unemployment and recession? (Phillips curve, Okun’s law) How do saving and technological progress impact production and growth in the long run? (Solow growth model). How do expectations affect today’s interest rates, stock prices, consumption and inve ...
... Do disinflation policies inevitably lead to high unemployment and recession? (Phillips curve, Okun’s law) How do saving and technological progress impact production and growth in the long run? (Solow growth model). How do expectations affect today’s interest rates, stock prices, consumption and inve ...
ECON 4020A, F13, Course Outline, Lee
... Calendar Course Description / Prerequisite / Co-Requisite This course surveys recent developments in macroeconomic research. Among the topics covered are rational expectation models, consumption theory, new Keynesian models of staggering wages and prices, menu costs, efficiency wages and imperfect c ...
... Calendar Course Description / Prerequisite / Co-Requisite This course surveys recent developments in macroeconomic research. Among the topics covered are rational expectation models, consumption theory, new Keynesian models of staggering wages and prices, menu costs, efficiency wages and imperfect c ...
PDF Download
... been observable since last summer, should be further dispelled by these results. The upswing has gained both in breadth and momentum. In manufacturing more favourable assessments of the current situation and more optimistic expectations led to a strong improvement of the business climate. Export exp ...
... been observable since last summer, should be further dispelled by these results. The upswing has gained both in breadth and momentum. In manufacturing more favourable assessments of the current situation and more optimistic expectations led to a strong improvement of the business climate. Export exp ...
Form 7 Economics Syllabus
... Monetary policy revisited Monetary policy in HK Inflation: Causes and Effects Introduction The nature of inflation Causes of inflation - Inflation as a monetary phenomenon - Non-monetary causes of inflation Redistribution effects of inflation Real costs of inflation Inflationary expectation & intere ...
... Monetary policy revisited Monetary policy in HK Inflation: Causes and Effects Introduction The nature of inflation Causes of inflation - Inflation as a monetary phenomenon - Non-monetary causes of inflation Redistribution effects of inflation Real costs of inflation Inflationary expectation & intere ...
Edmund Phelps
Edmund Strother Phelps, Jr. (born July 26, 1933) is an American economist and the winner of the 2006 Nobel Memorial Prize in Economic Sciences. Early in his career he became renowned for his research at Yale's Cowles Foundation in the first half of the 1960s on the sources of economic growth. His demonstration of the Golden Rule savings rate, a concept first devised by John von Neumann and Maurice Allais, started a wave of research on how much a nation ought to spend on present consumption rather than save and invest for future generations. His most seminal work inserted a microfoundation—one featuring imperfect information, incomplete knowledge and expectations about wages and prices—to support a macroeconomic theory of employment determination and price-wage dynamics. This led to his development of the natural rate of unemployment—its existence and the mechanism governing its size.Phelps has been McVickar Professor of Political Economy at Columbia University since 1982. He is also the director of Columbia's Center on Capitalism and Society.