ECON 6314 Price and Income Theory
The purpose of this course is to survey the principal models that have been developed by macroeconomists to explain the aggregate behavior of free-market economies and to investigate the implications of those models for policy-making decisions. In particular, it is concerned with how to model the determination of aggregate income, wages rates, exchange rates, inflation rates, interest rates, trade balances and unemployment levels over long and short time horizons. In addition, attention is given to the issue of how key macroeconomic aggregates are measured in practice.