Macroeconomics Analysis I · Economics
IS-LM model, Solow model, consumption decision, nominal rigidity and price stickiness
i learnt about reasons for growth and business cycles.
macroeconomic models (Keynesian, Solow, Consumption (Ramsey, Diamond, Hall, CBCAPM), nominal rigidity, Phillip's curve, price setting, Lucas supply curve, Fisher model, Taylor model, Calvo model)
I learned many macroeconomic models, including their assumptions, derivation, and implications. I also learned some useful techniques in solving these models and greatly improved my analytical skills.
Advanced macroeconomics: Solow Model with extensions, RCK Model, Real Business Cycle Model, Nominal Rigidities
We learned the classic models in Macroeconomics - ISLM, Fisher, Taylor, Ramsey, Lucas, etc. We also covered the methodologies of solving these models using regressions and expectations.
I mostly learned how to do lengthy, lengthy, lengthy algebra questions. I am not sure whether this was the fault of the professor or the more advanced macroeconomic models, but it seemed to me that the models were so full of assumptions and different variables that they rarely translated to real-world takeaways, of which I have few from this course. Perhaps I will change my tone on that topic after I review for the final, but I feel like if someone asks me what I learned about the real macroeconomy, I would really have to rack my brain to come up with something insightful.
History of macroeconomic models, how refinements came about and empirical issues with models
The course covered a very brief and general description of growth models, the real business-cycle model and some basic notions of the neokeynesian models. We used Romer's book for both the lectures and the problem sets. The professor was very good in pointing out how this concepts related to the current situation of countries and observed phenomena in actual economies. In terms of the contents, this is the class that I enjoyed the most during my first semester.
I learnt too many things but not sure how to use them. There is information overdose