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Spring 2001 prof. Kirill Sosunov Nunber of lectures 14 Final grade 30% home assignments (only if better than exam) and 70% final exam Basic Textbook : P. Romer Advanced Macroeconomics McGraw Hill 1996 Additional textbook O. Blanchard and S. Fisher Lectures on macroeconomics MIT Press 1992 Topics to be covered:
4 lectures, Romer Ch 7 this part of the course will cover different theories of consumption. We will look at the life-cycle theory, permanent income hypothesis, theories of savings and emprical evidence. This part will also cover different asset pricing models (CAPM, Lucas APM etc.) 3 lectures Romer Ch8 this part will cover different approaches to model demand for investment. We will study theories covering cost of capital, q-theory of investment, model of investment with adjustment costs, effects of uncertainty on investments. 4 lectures Romer Ch 10 this part will cover theories of unemployment. We will study efficiency-wage model; Shapiro-Stiglitz model, search and matching models of unemployment, hysteresis and other models of unemployment. 3 lectures B& F Ch 9 in this part we will look at the explanation of the credit rationing and on empirical implications of the existence of credit rationing. |
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Economics
of Transition Elements
of the Economics History
of Economic
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