Macroeconomic Theory

Macroeconomic theory analyzes whether the market effectively coordinates individuals' decisions so that they lead to acceptable results. It considers the effectiveness of monetary, fiscal, and other policies in achieving desirable levels of unemployment, inflation, and growth. The theories held by various schools of economic thought such as Keynesians, monetarists, and new classicals are considered along with their proposed policies. (ECON 0150 and ECON 0155) (There will be five sections offered: three in the fall; two in the spring.) 3 hrs. lect.