ECON 0440
Macro Modeling
Modeling Macroeconomic Dynamics
In this course we will introduce students to computational macroeconomic modeling. The objective is to enhance students' understanding of macroeconomics and improve their skills in applying its analytical tools in a policy context. We will begin with simple income-expenditure macro models and work up to more complex ones such as inter-temporal open-economy models. Some of the economic issues we will analyze include: the effect of international aid on growth and development in developing countries; output-inflation trade-offs; fiscal policy dynamics in an open economy; determination of the real equilibrium exchange rate; and, economic growth processes. While the emphasis will be on simulation some parameter estimation will be done. (ECON 0155 and ECON 0210 and ECON 0250, or by waiver.) 3 hrs. sem.
In this course we will introduce students to computational macroeconomic modeling. The objective is to enhance students' understanding of macroeconomics and improve their skills in applying its analytical tools in a policy context. We will begin with simple income-expenditure macro models and work up to more complex ones such as inter-temporal open-economy models. Some of the economic issues we will analyze include: the effect of international aid on growth and development in developing countries; output-inflation trade-offs; fiscal policy dynamics in an open economy; determination of the real equilibrium exchange rate; and, economic growth processes. While the emphasis will be on simulation some parameter estimation will be done. (ECON 0155 and ECON 0210 and ECON 0250, or by waiver.) 3 hrs. sem.