Macro Economic Theory

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28 Οκτ 2013 (πριν από 3 χρόνια και 9 μήνες)

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Course No.

:

MPE 12
1





Course title

:

Macro
Economic
Theory

Number of credits

:

4

Number of Lectures

Tutorials

Practical

:

4
9
-
07
-
0

Faculty Name

:

Ms Namrata Gulati



Course outline



The course aims to follow a structured direction, tracing origins and d
evelopments

of modern
macroeconomics in historical perspective around the main schools of economic thought through
to the focus of much current debate and research, namely the issue of economic growth. After the
introductory lecture on selective review of
some of the most important developments in macro
-
economics since the mid
-
1
930’s, the collection of articles is divided into six main parts covering



Keynesian Economics and the Keynesian Revolution



The Monetarist Counter
-
Revolution



The challenge of Ration
al Expectations and New Classical Macro
-
economics



The Real Business Cycle Approach to Economic


Fluctuations



The Renaissance of Economic Growth Analysis


The course is also an introduction to the mathematical tools used in modern macroeconomics,
includi
ng dynamic systems, optimal control, and dynamic programming. The aim is to enable
students to solve economic problems which require optimization techniques. Dynamic analysis
involves the study of how variables evolve over time and the tracing of the time
paths of these
variables.



Evaluation Procedure




One midterm exam:


30%



Major exam:



70%



Details of the course
contents
and allotted time



Sr. No



Contents

Allotted time

(hours)

Lecture

Tutorials

1.

The d
evelopment of modern macroeconomics
-

a tour

1



2.

Review of the National Income and Product Accounts

1



3.

Introduction to Income determination:

12

3

4.

The challenges of rational expectations and new
classical macroeconomics

9

2

5.

The real busi
ness cycle approach to economic
fluctuations

6



6.

Dynamic optimisation: Techniques and methods

10

2

7.

The renaissance of economic growth analysis

10



Total

49

7

Suggested readings



1.

Lecture notes

2.

Books:

3.

Barrow, R.J., and X. Sala
-
i
-
Martin

4.

Macro eco
nomics:


Oliver Blanchard

5.

Advanced Macro economics: Romer

6.

Macroeconomics : Branson

7.

A Macro economics a reader