While the authors perspective is broad, they clearly state their assessment of what is important and what is not as they present. The sixth edition maintains the core features that have. These notes are for use with pacroeconoics, canadian edition. The main purpose of this book is to characterize and explain fluctuations in output, unemployment, and movement in prices. Overlapping generation models macroeconomics ii econ. Macroeconomics the study of the economy as a whole focus is on the overall levels of income, output, prices, employment, etc. This is a book designed for use in an intermediate macroeconomics course or a masters level course in macroeconomics. The notes here heavily borrow from stokey, lucas and prescott 1989, but simplify the exposition. Keynes, the general theory of employment, interest, and money 1936. The overriding goal of the course is to begin provide methodological tools for advanced research in macroeconomics. The whole is more complex than the sum of independent parts. The nations unemployment rate, inflation rates, interest rates, federal government budgets and government fiscal policies, economic growth, the federal reserve system. Lecture notes in intermediate macroeconomics gregor. A group of firms producing identical or closely related goods.
Introduction to macroeconomics lecture notes robert m. Macroeconomic theory dirk krueger1 department of economics university of pennsylvania january 26, 2012 1i am grateful to my teachers in minnesota, v. An aggregate is a multitude of economic subjects that share some common features. Lecture notes in macroeconomics the department of economics. Principles of macroeconomics lecture notes ecn 1001 nu. Recognizing that a course in economics may seem daunting to some students, we have tried to make the writing clear and engaging. Mishkin also covers keynesian theory in chapters 2023.
You might think of a household as a consumer, but households are also producers. Lectures on macroeconomics class of 1941 professor of. We build entirely on models with microfoundations, i. The term microeconomics and macroeconomics were first given by ragner frisch in 1933. We will study investment activity in more detail later. Driscoll brown university and nber1 december 21, 2003 1department of economics, brown university, box b, providence ri 02912. Ch 23 measuring a nations income introduction microeconomics studies how households and firms make decisions and how they interact in markets. Introduction to macroeconomics lecture notes download book.
Like microeconomics, macroeconomics is a social science, in that it tries to model and predict human behaviour. Lectures on really useful ad koc macroeconomics willem buiter. Keynesian consumption function keynes 1936 the amount of aggregate consumption mainly depends on the amount of aggregate income and this relationship is a fairly stable function. The difference between macroeconomics and microeconomics macroeconomics includes those concepts that deal with the entire economy or large components of the economy or the world. Macroeconomics, system of national accounts, variants of gdp, the goods market, financial markets, demand for money and bonds, equilibrium in the money market, price of bonds and interest rate, the islm model, the labor market, the three markets jointly. Mankiws macroeconomics is popular, widely adopted and well known for clearly communicating the principles of macroeconomics in a concise and accessible way. Driscoll brown university and nber1 december 3, 2001 1department of economics, brown university, box b, providence ri 02912. L2, measuring macroeconomic variables, this resource may not. Contribute suggestions for improvements,new content, or errata. Pdf on jan 1, 2004, sumru altug and others published lecture notes on macroeconomics find, read and cite all the research you need on researchgate. Information about the course as well as lecture notes will be posted on the moodle. This is a collection of lecture notes that i have used over a number of years teaching advanced.
Macroeconomics 1880 1900 1920 1940 1960 1980 2000 matthiasdoepke universityofchicago andreaslehnert boardofgovernorsofthe federalreservesystem andreww. Lecture notes intermediate macroeconomics economics. Study of groups and broad aggregates of the economy. Principles of macroeconomics open textbook library.
Keynes is known as father of modern macroeconomics. This course prepares the student to understand the economic structure of the united states and its place in the world economy, to interpret common economic measures, to. Course overview 1 course overview big picture syllabus 2 aggregate data measuring output. Many of the times, it has been felt that the readers, who are using the ebooks for first time, happen to. Olivier blanchard lectures on macroeconomics pdf free download as pdf file. Classical business cycle and price and wage rigidity. The main purpose of lectures on macroeconomics is to characterize and explain fluctuations in output, unemployment and movement in prices. Clarity comes in part from the intuitive presentation style, but we have also integrated a number of pedagogical features that we believe make learning economic concepts and principles easier and more fun. A brief overview of the history of macroeconomics i classics smith, ricardo, marx did not have a sharp distinction between micro and macro. Growth with overlapping generations problems of in. Macroeconomics i lecture 1 overview, concepts, and. Intermediate macroeconomics julio gar n claremont mckenna college robert lester colby college eric sims university of notre dame august 2, 2018 this version. Macroeconomics greek makro big describes and explains economic processes that concern aggregates.
V chari, timothy kehoe and ed ward prescott, my excolleagues at stanford, robert hall, beatrix paal and tom. Macroeconomics has been evaluated and recommended for 3 semester hours and may be transferred to over 2,000 colleges and universities. Economic growth an introduction administrative details remarks on. Lectures on macroeconomics provides the first comprehensive description and evaluation of macroeconomic theory in many years. Macroeconomics text, which is sometimes used in econ 101, has mostly classical theory.
In macroeconomics, the term investment is reserved for purchases by firms of capital machines, buildings, etc and purchases by households of some durable goods such as housing. All households behave competitively alternatively, there are m households of each type, m is a large number. Lecture notes principles of macroeconomics economics mit. Olivier blanchard and stanley fischer, lectures on macroeconomics. Microeconomics studies how households and firms make decisions and how they interact in markets. Lecture notes in macroeconomics university of houston. Contents preface xvii i the field and basic categories 1 1 introduction 3 1. The emphasis is on theory, although data guides the theoretical explorations. Lecture notes principles of macroeconomics economics. Macroeconomics i lecture 9 business cycle facts and introduction john grigsby february 2, 2017 grigsby lecture 9 business cycle facts february 2, 2017 1 28.
Find materials for this course in the pages linked along the left. Macroeconomics notes pdf macroeconomics class 12 notes lecture notes on macroeconomics pdf advanced macroeconomics lecture notes mankiw, ng 1997, macroeconomics, worth publishers edgmand, m. Federal reserve economic database fred2 information about signing up for an iclicker reef account. It could also be used by graduate students seeking a refresher. Written as a text for graduate students with some background in macroeconomics, statistics, and econometrics, lectures on macroeconomics also presents topics in a selfcontained way that makes it a suitable reference for. Pdf lectures on macroeconomics oj blanchard s fischer. Macroeconomics is the branch of economics which seeks to model the economy as a whole. Microeconomics the study of individual units focus is on an analysis of individual consumers, individual firms, or individual markets. Microeconomists use the theory of supply and demand to understand. Intermediate macroeconomics lecture 9 consumption zs o a l.
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