Intermediate Macroeconomics

Description

We will study the economic issues within a unified framework as possible as we can. At the same time, we will also try to introduce alternative theories and models. The main purpose is to introduce the method to study macroeconomics, not the facts and the theories. We emphasize the micro-foundation, and use the neoclassical economics as the benchmark. Nevertheless, we also introduce the Keynesian economics by introducing some market imperfections such as sticky wage and search in labor market. #We will start with the basic facts and issues in macroeconomics. Then we will introduce the modern approach to address these issues. We will study how different markets work together in general equilibrium. Markets for labor, saving and investment, and financial assets interact to determine the economy’s long-run growth and its fluctuations.