Advanced macroeconomics (EC422).

Overview.

This class aims to provide students with the required tools and analytical frameworks (models) to understand contemporary macroeconomic issues, such as: decision marking of inflation targeting central banks, the interactions between the banking sector and monetary policy, policy responses to the global financial crisis, the Covid-19 pandemic, and the resurgence of inflation and developments in the labour market.

List of lectures.

1. The Demand Side
2. The Supply Side
3. The 3-Equation Model and Macroeconomic Policy
4. Expectations and Monetary Policy
5. Money, Banking and Sources of Financial Sector Instability
6. Fiscal Policy
7. Unconventional Monetary Policy
8. Models of the Labour Market & Unemployment Hysteresis
9. Toward Modern, Microfounded, Heterogeneous Agent Models