A rigorous treatment of macroeconomic theory, developed from a standard general equilibrium framework. The course examines various modern macroeconomic models with microeconomic foundation, especially growth models and overlapping generation models. These models will be used to discuss the topics in long-term economic growth, taxation, inflation, and social security. This course will also serve as a preparatory course for graduate level study.

CILO-1: Identify and analyze the factors that contribute to economic growth and the limitations of formal models in explaining growth dynamics. CILO-2: Examine the relationship between innovation and economic growth and gain an understanding of the different policy approaches governments might take to promote innovation and improve economic growth. CILO-3: Apply macroeconomic analysis to real-world economic issues such as economic growth, recessions, booms, unemployment, fiscal policy, and monetary policy. CILO-4: Analyze and evaluate different macroeconomic models and theories, including formal models of economic growth, to compare the strengths and limitations of each approach.