This unit examines a number of issues in monetary theory and policy. We begin with a refresher survey of the workhorse models in macroeconomics ? ISLM, ASAD ? and develop these for intertemporal modelling. Issues in monetary and fiscal policy design are then discussed, particularly in regard to the global financial crisis of 2008?2009. We study the key models of monetary economies in professional use today. They are based on what are known as dynamic stochastic general equilibrium (DSGE) models. These models are simulated in class to help understand how they respond to shocks like the global financial crisis. -- Course Website
Instructor: Professor Jeffrey Sheen
Prerequisites: ECON633 or admission to MActPrac or MCom or MEc or MIntBus prior to 2011
