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14.452 Macroeconomic Theory II, Spring 2005

Apollo 17 view of the Earth.
Apollo 17 view of the Earth. (Image is taken from NASA's Web site:

Highlights of this Course

This course features an extensive reading list, detailed lecture notes and complete problem sets in the assignments section.

Course Description

This is the second course in the four-quarter graduate sequence in macroeconomics. Its purpose is to introduce the basic models macroeconomists use to study fluctuations. The course is organized around nine topics/sections: Fluctuations and Facts; The basic model: the consumption/saving choice; Allowing for a labor/leisure choice (the RBC model); Allowing for non trivial investment decisions; Allowing for two goods; Introducing money; Introducing price setting; Introducing staggering of price decisions; and Applications to fiscal and monetary policy.


Prof. Olivier Blanchard

Course Meeting Times

Two sessions / week
1.5 hours / session

One session / week
1.5 hours / session



Additional Features

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