KTTS2130 Business Cycle Theory (5 cr)
The course extends the knowledge of the functioning of the macroeconomy beyond the intermediate macroeconomy course. The course covers short-run business fluctuations beyond the standard ISLM model. It deals with topics like rational expectations, staggered price adjustment, history of macroeconomic thought, real-business cycles and Keynesian theories of economic fluctuation.
apply main macroeconomic theories to understanding, diagnosing and solving economic problems
evaluate and comprehend the concept of rational expectations and apply rational expectations in macroeconomic scrutiny
analyze the reasons and outcomes of business cycle fluctuations using different business cycle models
Ajoitus: 4. vuosi
Description of prerequisites
- Sörensen, P.B. & Whitta-Jacobsen, H. J (2010). Introducing Advanced Macroeconomics. Growth & Business Cycles. 2nd edition.; ISBN: 139780077117863