Transcription of Intermediate Macroeconomics
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Intermediate Macroeconomics
Intermediate Macroeconomics Julio Gar n Robert Lester Claremont McKenna College Colby College Eric Sims University of Notre Dame August 2, 2018. This Version: This is a book designed for use in an Intermediate Macroeconomics course or a masters level course in Macroeconomics . It could also be used by graduate students seeking a refresher in advanced undergraduate Macroeconomics . This book represents a substantial makeover and extension of the course notes for Intermediate Macroeconomics which have been provided publicly on Eric Sims's personal website for several years. There are many fine textbooks for Macroeconomics at the Intermediate level currently available. These texts include, but are certainly not limited to, Mankiw (2016), Williamson (2014), Jones (2013), Barro (1997), Abel, Bernanke, and Croushore (2017), Gordon (2012), Hall and Pappell (2005), Blanchard (2017), Dornbusch, Fischer, and Startz (2013), Froyen (2013), and Chugh (2015). Given the large number of high quality texts already on the market, why the need for a new one?
To that end, we have devoted an entire part of the book, PartIII, to the \Microeconomics of Macroeconomics." There we study an optimal consumption-saving problem, a rm pro t maximization problem in a dynamic setting, equilibrium in an endowment economy, and discuss scal policy, money, and the First Welfare Theorem. Whereas for the most part we
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