32701
Seminar
WiSe 12/13: Unemployment, Inflation and Exchange Rates
Martin Knoll
Comments
The subject of this course represents the core of monetary macroeconomics that constitutes our understanding of the determinants of and interactions among key economic variables such as inflation, money supply, exchange rates and unemployment in modern open economies such as the United States.
In the first part of the course we lay out the classical long-run macroeconomic theory built upon the assumption of fully flexible prices. Students will be introduced to principal ideas of classical monetary theory such as the quantity theory of money, the inflation tax, and the Fisher effect. These analytical tools help us to understand the causes of inflation, hyperinflation and their respective social costs.
In the second part of the course we focus on principal short-run economic models in which prices are assumed to be sticky. These include the basic model of aggregate supply and aggregate demand and its IS-LM and Mundell-Fleming extensions.
Once students master these basic long-run and short-run macroeconomic models, a few standard approaches to macroeconomic policy will be examined. Issues for discussion include: how policymakers can respond to short-run economic fluctuations and whether monetary policy should be discretionary or rule-based.
A detailed schedule and a list of required readings will be provided via Blackboard. Coursework includes a final exam (60 min) and two problem sets. Information and enrollment management is conducted via Blackboard. close
16 Class schedule
Regular appointments
Tue, 2012-10-16 16:00 - 18:00
Tue, 2012-10-23 16:00 - 18:00
Tue, 2012-10-30 16:00 - 18:00
Tue, 2012-11-06 16:00 - 18:00
Tue, 2012-11-13 16:00 - 18:00
Tue, 2012-11-20 16:00 - 18:00
Tue, 2012-11-27 16:00 - 18:00
Tue, 2012-12-04 16:00 - 18:00
Tue, 2012-12-11 16:00 - 18:00
Tue, 2012-12-18 16:00 - 18:00
Tue, 2013-01-08 16:00 - 18:00
Tue, 2013-01-15 16:00 - 18:00
Tue, 2013-01-22 16:00 - 18:00
Tue, 2013-01-29 16:00 - 18:00
Tue, 2013-02-05 16:00 - 18:00
Tue, 2013-02-12 16:00 - 18:00