Advanced Macroeconomics 2019 – 2020
Li, Dan, Assistant Professor, Ph.D. in Economics, Johns Hopkins University, USA, Email：firstname.lastname@example.org, Office：D332, Eco Building, Xiamen University.
Prerequisites and co-requisites: none
Learning outcomes and competences: Upon successful completion of this course, students will be able to explain and work with:
- Explain the determination of output and prices (and their change, inflation) in the long and short run.
- Describe the characteristics of the business cycle, and discuss the role of shocks and government policy in the cycle.
- Understand the workings of fiscal and monetary policy and the way such policies can be used to moderate the business cycle.
- Explain the determination of the exchange rate and interest rates in the long and the short run.
- Discuss the global financial crisis and the successes and failures of government policy to contain it.
- Introduction to the workings of an economy from a macroeconomic perspective
- The determinants of an economy’s output in the long run
- The role of money in the long run and short run
- The determinants of the price level
- The role of interest rates and exchange rates in the U.S. economy and in small, “open” economies
- The causes and nature of the business cycle
- The Keynesian model of the economy and how it differs from the classical theory of the economy
- The role of fiscal and monetary policy in stabilizing the economy and ensuring full employment
- The recent meltdown of the economy, stemming from the collapse of housing prices and the financial system.
- Active lecture/seminar/workshop/tutorial participation 20%
- Mid-term test 40%
- Final test 40%
- N. Gregory Mankiw, Macroeconomics, 9th ed., 2015, Worth Publishers.
- David Romer, Advanced Macroeconomics 4th Edition, McGraw-Hill/Irwin, 2012 (ISBN:0073511374)
- Robert J. Barro and Xavier I. Sala-i-Martin, Economic Growth 2nd Edition, The MIT Press, 2003 (ISBN: 0262025531)
- Daron Acemoglu, Introduction to Modern Economic Growth, Princeton University Press, 2008 (ISBN: 0691132925 )