POLICYCONTROVERSIESCLASS

POLICYCONTROVERSIESCLASS - Macroeconomic Policy Issues and...

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1 1 Macroeconomic Policy Issues and Controversies b Overview of Macro Policy s SR versus LR s Expectations and Credibility s Taylor Rule b Practical Macroeconomics b Gov’t Deficits and debt b Evolution of Macro b Current Controversies b Krugman return of dep econ b 200 years ? 2 Can the Government influence macro conditions? Should they? b Short-Run – Keynesian – Yes (but?) s Economy unstable s Fiscal/ Monetary policy impact agg D b Long-Run – Classical – Perhaps Not s Economy self-adjusting if left alone s Fiscal Policy – crowding out – no effect b May be destabilizing in short-run – pro-cyclical s Monetary Policy – only P b May be destabilizing in SR - Pro cyclical s Vertical Phillips curve s Rational Expectations 3 In the News?
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2 4 Course Issues b Last Class Tues 12/13 b Final Exam Thursday December 22 8am CAC Gym b Final Exam Conflicts – see me now – with doc b Investment game – ends close of trading Friday b Graduating Seniors? b Review Guide, Essential b Grade book problems-check NOW! b
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POLICYCONTROVERSIESCLASS - Macroeconomic Policy Issues and...

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