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Week 9 and 10: ISLM and AD/AS
Lecture Slides [ch10 pptx; ch11 pptx; ch12 pptx; ch13 pptx]
III. Income and Price Determination in the Short-Run
A. Introduction to Business Cycles
Required
Readings:
Mankiw: ch. 10 -
Introduction to Economic Fluctuations
Practice Problem Set #2: Understanding Aggregate
Expenditures and the Multiplier
B. The IS-LM Model
Required
Readings:
Mankiw: ch. 11 -
Aggregate Demand I: Building the IS-LM Model
C. Business Cycle Theory/ Aggregate Supply
Required
Readings:
Mankiw: ch. 12 -
Aggregate Demand II: Applying the IS-LM Model
Active Learning: Worker misperception imperfect info
experiment?
Required
Readings:
Mankiw: ch. 13 - The
Open Economy Revisited: The Mundell-Fleming Model and the
Exchange-Rate Regime