Browse Hierarchy ECN355: Macroeconomic Policy

This module presents concepts, models, and data that are useful for understanding the impact of macroeconomic policies. Building on recent research into how shocks drive economic fluctuations, the module will develop analyses of conventional fiscal and monetary policy in normal times, as well as unconventional fiscal and monetary policy in the context of a liquidity trap. Theoretical topics to be covered may include: quantitative easing, forward guidance, negative interest rates, fiscal multipliers, the zero lower bound, structural reforms, and the fiscal theory of the price level. Applications may include: the response to COVID, energy price shocks, and the international transmission of financial crises. Upon completing the module, students will be able to appreciate both the theoretical and practical considerations that inform macroeconomic policy decisions and determine their impact.