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Fundamental themes of macroeconomics. Overview of theories of economic growth; stylized facts of business cycles; descriptive and statistical methods used to study them. Introduction to methods of macroeconomic analysis, including comparative statics, stochastic difference equations, dynamic optimization, Lagrangian methods, dynamic programming, the maximum principle. Dynamic systems, stability, expectations. Microeconomic models of intertemporal choice; general equilibrium models of dynamic monetary economies with flexible and sticky prices. |
