Topics in Macroeconomics

Undergraduate catalogue

By extending intermediate macroeconomics, we develop alternative macroeconomic frameworks with financial frictions to understand business cycles, financial crises and public policy. The lecture begins with a historical overview of financial crises and basic financial accelerator models which emphasizes the interaction between borrowing constraint, asset prices and aggregate production. We then introduce financial intermediaries and government to study banking crisis, credit policy and macro prudential policy. Pre-requisites: ECO 301 or ECO 311. Two 90-minute lectures, one precept.