Introductory Macroeconomics

An introduction to macroeconomics: a consideration of macroeconomic problems such as unemployment and inflation. Theories and policy proposals of Keynesian and classical economists are contrasted. Topics considered include: banking, financial institutions, monetary policy, taxation, government spending, fiscal policy, tradeoffs between inflation and unemployment in both the short run and the long run, and wage-price spirals. (There will be nine sections offered: five in the fall; four in the spring.) 3 hrs. lect.