Middlebury

ECON 0418

Macroeconomics of Depressions

Macroeconomics of Depressions
In this course we will develop a framework for analyzing liquidity traps, economic depressions, and failures of macroeconomic stabilization policy. We will contrast the causes of and policy responses to the Great Depression, Japan’s “Lost Decades,” the Great Recession, and the ongoing depression in Greece. We will also study the international transmission of the Great Depression through the gold standard and the global transmission of the Great Recession through modern financial and trade linkages. Throughout, we will track the evolution of views on stabilization policy, austerity, and the costs of prolonged periods of depressed demand. (ECON 0250 or IPEC 0240 [formerly ECON 0240]) 3 hrs. sem.
Subject:
Economics
Department:
Economics
Division:
Social Sciences
Requirements Fulfilled:

Sections in Spring 2021, MIIS courses in College Term

Spring 2021

ECON0418A-S21 Seminar (Fieldhouse)
ECON0418B-S21 Seminar (Fieldhouse)