ECON 2202 Intermed Macroeconomic Theory UConn

The Keynesian System IV: Aggregate Supply and Demand Chapter 9 Professor Steve Cunningham Intermediate Macroeconomics ECON 219 Constructing AD The AD curve can be constructed from the IS-LM apparatus. Recall that the price level is established o

Real Business Cycles and New Keynesian Economics: Chapter 13 Professor Steve Cunningham Intermediate Macroeconomics ECON 219 Real Business Cycle (RBC) Models Like New Classical Economics, the RBC theorists agree that: Agents optimize Markets cl

New Classical Economics Chapter 12 Prof. Steve Cunningham Intermediate Macroeconomics ECON 219 Rational Expectations Hypothesis (REH) Expectations are formed on the basis of all available relevant information concerning the variable being predict

The Keynesian System II Money, Interest, and Income Chapter 7 Professor Steve Cunningham Intermediate Macroeconomics ECON 219 Problems with the Income-Expenditure Model What about prices? Dont they change when AS and AD conditions change? Dont

Summary Outline of Topics/Concepts Consumer Choice o Positive vs. Normative Analysis o Basic Concepts (bundles, tradeoffs) o Preferences o Representing preferences with Indifference Curves Constructing Indifference Curves Marginal Rate of Substitut

Externalities 1: Outline Definition Pigovian taxes The Coase Theorem Quantity regulation and tradable pollution permits The \"commons\" problem 1 Externalities: Definition An externality exists whenever one economic agent\'s behavior affects the

Public Finance and Public Policy, 2/e Jonathan Gruber Tools of Budget Analysis 4 Prepared by: FERNANDO QUIJANO, YVONN QUIJANO, KYLE THIEL & APARNA SUBRAMANIAN 2007 Worth Publishers Public Finance and Public Policy, 2/e, Jonathan Gruber Tools of