Intermediate Macroeconomic Theory

Course Description

Macroeconomics studies the economy as a whole. This course will therefore not study how the income of an individual or the output of a single firm is determined. Instead, we will show how economic events affect total income or the total output of an economy. We will also study other variables of interest, including the unemployment rate, the inflation rate, the interest rate set by the central bank or the rate of economic growth and how these variables interact with one another. The course will emphasize the question on how government or the central bank can affect economic outcomes. It is a theory course, and we will study some models in detail but also aim to frequently link the theory to current economic events or phenomena in general.

Aims and Objectives

The aims of the course are:

• to become familiar with and understand the fundamental models macroeconomists use to study an economy’s behavior over time
• to learn how to use these studied models as a set of tools which allow us to understand and evaluate real world economic phenomena and the government’s responses
• to think critically about and possibly reassess preexisting convictions about the role of government policies

At the end of this course, students should be able to:

• understand the difference between real and nominal economic variables
• distinguish the various models and know how they relate to different time horizons
• understand the mathematical models AND the economic intuition behind them
• evaluate government policies based on their effects on the economic variables

  

Basic Enrollment Requirements:

Academic Year (Fall/Spring): Unofficial Transcript – High School Diploma or current high school transcript (for high school students only in applicable classes), Bachelor’s Degree, or progress towards a Bachelor’s Degree + 3.0 GPA.

Summer: None

Refund Policy: The refund policy for Courses at Tufts offerings is dependent on the course length. Please refer to the section details to confirm any exceptions to the standard refund policy. The refund policies are viewable here: https://universitycollege.tufts.edu/policies#Refunds 

Remission Eligible: Yes; all university policies apply.