Παρουσίαση/Προβολή

(ECON323) -  Γεώργιος Χορταρέας

Περιγραφή Μαθήματος

Macroeconomics II  (MSc, Year 1)

Syllabus

The course picks up from Macroeconomic Theory I to analyze models that incorporate nominal rigidities in frameworks where aggregate spending is linked to money. The objective is  to familiarize students with elements of this literature that are used in the most recent developments in macroeconomics. Next, we cover more recent analytical frameworks that allow for rigorous modeling of agents’ optimizing behavior and incorporate elements from both the classical and Keynesian perspectives. We examine how these models can become operational for policy analysis purposes. In addition to the baseline models, we will cover topics that include the theory of consumption, the institutional design of monetary policy, budget deficits and fiscal policy, fiscal and monetary policy interactions. 

Course webpage: There is a web page of the course at “η-Τάξη” (“e-Class”), the eLearning platform of the University of Athens: https://eclass.uoa.gr/courses/ECON323/

Course Outline

• Introduction to business cycles and macroeconomic theories
• Horsework models in macroeconomics
• Modelling expectations
• Elements of aggregate expenditure: Consumption and Investement
• The role of imperfect information
• New-Keynesian Economics
• Dynamic Stochastic Models with Optimizing Behavior and Price/Wage Rigidities
• Policy Analysis in the New-Neoclassical Synthesis Framework
• Money
• Monetary policy
• Time-Inconsistency, Strategic Behavior, and Optimal Policy Design of Monetary Policy
• Fiscal Policy and Budget Deficits

 

Textbooks: 

Main textbook:

Romer, D., (2018), Advanced Macroeconomics, Fifth Edition, McGraw-Hill (or any other edition) [the first edition is also available in Greek]

Challe, E. “Macroeconomic Fluctuations and Policies” (MIT Press, 2019) (also available in Greek, Εκδόσεις Κριτική)

 

Other intermediate macroeconomics textbooks can be appropriate as background reading. We will rely on:

• Abel, A. B., B. S. Bernanke, and D. Croushore, (2023), Macroeconomics, 11^th edition, Pearson.
• Mankiw, N. Gregory, (2016), Macroeconomics, 9^th edition, Macmillan.

 

Some other relevant textbooks include:

• Blanchard, O., and S. Fisher, (1989), Lectures on Macroeconomics, MIT Press.
• Gali, Jordi, (2008) Monetary Policy, Inflation, and the Business Cycle An Introduction to the New Keynesian Framework, PrincetonUniversity Press.
• McCallum, B. T. (1989) Monetary Economics: Theory and Policy, McMillan (also available in Greek, Νομισματική Θεωρία και Πολιτική, 2002, Εκδόσεις Κριτική)
• Scarth (1996), Macroeconomics and Introduction to Advanced Methods.  (also available in Greek).
• Walsh, C., (2003), Monetary Theory and Policy, Second Edition, MIT Press, CambridgeMassachusetts&London, England.
• Wickens, M., (2008), Macroeconomic Theory a Dynamic General Equilibrium Approach, Princeton University Press.
• Woodford, M., (2003), Interest & Prices: Foundations for a Theory of Monetary Policy, PrincetonUniversity Press, Princeton and Oxford.

 

Readings: A list of readings per topic will be provided.

 

Lecture: Friday 15:00-18:00.

Office hours: Friday 11:00-12:00.

Contact: 1, Sofokleous & Aristidou Str., Room 502 , Sofokleus 1, Athens 10559

Tel: 210-3689482

Email: gchortar@econ.uoa.gr 

 

 

        

 

Ημερομηνία δημιουργίας

Δευτέρα 19 Ιανουαρίου 2015