Macroeconomics: Theory and Applications I

The principal problems of developing economies with a focus on policy.

This course aims to prepare the groundwork for the study of Macroeconomics. The course uses a stock-flow accounting framework to introduce and analyze contending perspectives in macroeconomics. It equips the students with the alternative analytical frameworks that underpin and inform macroeconomic policy making in the context of modern financialized economies. In addition to the traditional theories of the determination of key macroeconomic variables such as output, employment, and inflation, this course introduces frontier topics such as real economy-financial economy interaction through stock-flow accounting approach and also some of the analytical tools such as the 3‑equation model for the analysis of monetary policy. The course is designed to serve as a foundational course for subsequent macro course such as Macroeconomics 2 (compulsory), Advanced Macroeconomics (optional) and Macroeconomics of Development (optional).