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ECON 212 Core Economics: Modules 4 and 8

Course Level (s)

Graduate

Monetary theory: economic fluctuations, the role of money (overlapping generations, cash in advance, money in the utility function), dynamic impact of changes in money on the economy, natural rate of unemployment and job creation/destruction, exchange rate determination, international transmission of money, dynamic stochastic general equilibrium models. Macroeconomic policy: rationale for central bank independence, time inconsistency, the impact of public debt, rules versus discretion, interest rate versus money rules, international monetary policy coordination, rational expectations, econometric policy evaluation. Limited enrollment. Prerequisites: 203, 211.