This course provides students with in-depth study on some current topics in the field of macroeconomic theory. In particular, the course will cover a variety of macroeconomic topics that includes consumption theory, investment theory, imperfect markets (goods market, labor market, and credit market), monetary theory, banking theory, fiscal and monetary theory, learning and its aggregate implications, research and development, intellectual property rights and its aggregate implications, time-consistency issues in macroeconomic contexts. While the extent of coverage on each of the topics may vary somewhat, this course will help students discover and appreciate the diversity in the scope of core macroeconomic issues, and in the approaches to analyzing them.

Objectives

• Study classical consumption and investment models; and the relation to macroeconomic fluctuations.
• Study classical imperfect markets models (goods market, labor market, credit market); and the relation to macroeconomic fluctuations.
• Study classical models of money and banking; and the relation to macroeconomic fluctuations.
• Study models of fiscal and monetary policy; and how policies may stabilize and de-stabilize the aggregate economy.
• Study models of research and development; how new goods are introduced in the market and be priced, intellectual property right protections and their aggregate implications.
• Study the time-consistency issues of agents, firms and the government and their policy implications.