Lecture 3: Macroeconomic Models and Indicators

Business & Economics - Lecture 3: Macroeconomic Models and Indicators - 11 slides

Explore Lecture 3: Macroeconomic Models and Indicators, covering This lecture focuses on advanced macroeconomic models, particularly the IS-LM and AD-AS frameworks, providing a.

Topics Covered

  • Introduction to Advanced Macroeconomic Models
  • Gross Domestic Product (GDP): Foundation of Macroeconomics
  • Inflation: Definition and Measurements
  • Unemployment: Types and Metrics
  • The IS-LM Model: Introduction and Foundations
  • Shifts in IS and LM Curves: Policy Impacts
  • The IS-LM Model: Equilibrium and Dynamics
  • Shifts in Aggregate Demand and Supply (AD-AS) Framework
  • The IS-LM Model and Fiscal Policy
  • Monetary Policy in the IS-LM Model
  • Conclusion: Connections Across Models

References

  • Mankiw, N.G. (2021) Principles of Economics. 9th edn. Boston: Cengage Learning.
  • Samuelson, P.A. and Nordhaus, W.D. (2020) Economics. 20th edn. New York: McGraw-Hill.
  • Kuznets, S. (1934) 'National Income, 1929-1932', National Bureau of Economic Research.
  • OECD (2021) Measuring the Economy: A Guide. Paris: OECD Publishing.
  • Friedman, M. (1963) Inflation: Causes and Consequences. Princeton: Princeton University Press.
  • Phillips, A.W. (1958) 'The Relation Between Unemployment and the Rate of Change of Money Wage Rates in the UK', Economica, 25(100), pp. 283-299.
  • Keynes, J.M. (1936) The General Theory of Employment, Interest, and Money. London: Macmillan.
  • Blanchard, O.J. and Fischer, S. (1989) Lectures on Macroeconomics. Cambridge, MA: MIT Press.
  • Hicks, J.R. (1937) 'Mr. Keynes and the Classics', Econometrica, 5(2), pp. 147-159.
  • Blanchard, O. (2021) Macroeconomics. 8th edn. Harlow: Pearson.
  • Keynes, J.M. (1936) The General Theory of Employment, Interest and Money. London: Palgrave Macmillan.
  • Blanchard, O. and Johnson, D.R. (2012) Macroeconomics. 6th edn. Boston: Pearson.
  • Blanchard, O. (2018) Macroeconomics. 7th edn. Harlow: Pearson Education.
  • Hicks, J.R. (1937) 'Mr. Keynes and the 'Classics'; A Suggested Interpretation', Econometrica, 5(2), pp. 147–159.
  • Bennett T. McCallum (1983) 'Monetary Policy in the IS-LM Model', Carnegie-Rochester Conference Series on Public Policy.
  • Blanchard, O. (2017) Macroeconomics. 7th edn. Harlow: Pearson Education.
  • Mankiw, N.G. (2021) Principles of Macroeconomics. 9th edn. Boston: Cengage Learning.
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