Course Overview

This is an intermediate level Macroeconomics. Though this is a second part of the sequences of the year long macroeconomic courses, this course is independent from Macroeconomics (I). There will be assignments, two midterms, and one final exam.

Learning Achievement

This course will cover major topics, ideas, and new developments in modern macroeconomics. More specifically, we will cover (1) long run Economic Growth. (2) short run Business Cycles. (3) microfundations for macroeconomics modeling and the idea of general equilibrium. We will also cover policy issues in part (1) and part (2). For Economic Growth, in addition to the traditional Solow growth model, we will also cover how ideas and innovations affect economic growth, i.e., Romer's endogenous growth model, since innovations is a key ingredient for sustained economic growth, but mostly skipped in intermediate macro courses. For Business Cycles, in addition to the traditional neoclassical method, we will discuss over the recent financial crisis, great recession, and introduce the idea of general equilibrium and the dynamic stochastic general equilibrium (DSGE) models, the frontier of business cycle research. This course aims to introduce modern developments of macroeconomic research in past decades to students at an appropriate intermediate level. There will be discussions and problem solving exercises in class.

Competence

Course prerequisites

1.This course requires basic mathematics skills: (a) basic calculus (freshmen level) (b) basic algebra. 2. This is an English class. Lectures, discussions, assignments, and exams are all in English. 3. Attendance: students will form subgroups to discuss and compete in class. So regular attendance is required.

Grading Philosophy

Course schedule

Course type

Online Course Requirement

Instructor

Hsuan-Li Su

Other information

(College of Social Sciences) Department of Economics

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