Topics change from year to year. Most recent topics include: optimal fiscal and monetary policy; optimal capital taxation; time inconsistency and incentive incompatibility of optimal policies; redistribution and political economics; heterogeneous agents and incomplete markets; Real Business Cycle models and new-keynesian models; endogenous growth; aggregate fluctuations and propagation mechanisms; recursive methods and robust control in macro. 14.462 is the second semester of the second-year Ph.D. macroeconomics sequence. The course is intended to introduce the students, not only to particular areas of current research, but also to some very useful analytical tools. It covers a selection of topics that varies from year to year. Recent topics include: Growth and Fluctuations; Heterogeneity and Incomplete Markets; Optimal Fiscal Policy; Time Inconsistency; Reputation; Coordination Games and Macroeconomi; Complementarities; Information.
" This half semester class presents an introduction to macroeconomic modeling, focusing on the theory of economic growth and some of its applications. It will introduce a number of models of non-stochastic and stochastic macroeconomic equilibrium. It will use these models to shed light both on the process of economic growth at the world level and on sources of income and growth differences across countries."
Examines government regulation of prices, entry, and product quality from a normative and positive perspective. Theoretical analyses of regulatory mechanisms and empirical analyses of regulatory behavior and performance are included. Regulatory reform, industry restructuring, and deregulation in industries such as telecommunications, electric power, airlines, and pharmaceuticals in the US and abroad are covered.
General equilibrium, capital theory, incomplete markets, externalities, public goods.The central topic of this course is the theory of general equilibrium and its applications and extensions.
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