This course is a survey of modern macroeconomics at a quite advanced level. Topics include the neoclassical growth model, overlapping generations, endogenous growth models, business cycles, incomplete nominal adjustment, incomplete financial markets, fiscal and monetary policy, consumption and savings, and unemployment. The course is also an introduction to the mathematical tools used in modern macroeconomics, including dynamic systems, optimal control, and dynamic programming.
Type of Material:
Online Course
Recommended Uses:
This material is an online course that covers advanced macroeconomic topics. The material includes readings, assessments, and lecture notes to assist students.
Technical Requirements:
MIT OpenCourseWare has tested the site with the following browsers: Chrome 20+ Firefox 13+ (all platforms) Internet Explorer 8.0+ (Windows) Safari 5.1+ (Mac OSX) + Adobe Reader for pdf download.
Identify Major Learning Goals:
The student will be able to solidify his/her understanding of Intermediate Macroeconomic Theory concepts.
Potential future students will be able to get a feel for the subject prior to registering for economic classes.
This course will cover macroeconomics at an advanced level.
Students will be able to construct knowledge about the following topics;
the neoclassical growth model,
overlapping generations,
endogenous growth models,
business cycles,
incomplete nominal adjustment,
incomplete financial markets,
fiscal and monetary policy,
consumption and savings,
unemployment,
mathematical tools used in modern macroeconomics, including dynamic systems, optimal control, and dynamic programming.
Target Student Population:
Advanced Macroeconomic Theory for economics majors
Non-economics or Non-business students taking an Intermediate Macroeconomic Theory course as a minor
Prerequisite Knowledge or Skills:
Students should have a basic (first level undergraduate) knowledge of macroeconomics.
Content Quality
Rating:
Strengths:
The main strength of this course content is the clear and clean display of the content for each course.
It is consistently laid out with a course home page, syllabus, readings, lecture notes, assignments, exams and download course materials sections on the left column of the page.
Most content is provided on the webpage or via pdf links.
The content is complete and appropriate for the upper level macroeconomics.
Concerns:
Perhaps, there could be more types of content like online videos or audio clips that could meet the learning styles of visual, auditory and kinesthetic learners.
Potential Effectiveness as a Teaching Tool
Rating:
Strengths:
Instructors can get a quick overview of the different instructional delivery and have access to a new set of teaching materials.
Potential students thinking of taking a similar course could use this site to check out the content, time-intensiveness and layout of the chapters before enrolling in an actual course.
In addition, the instructor could provide the link to this site as supplementary reading prior to the commencement of classes so that students can get a feel for the content on Intermediate Macroeconomic Theory or before starting on a new chapter for the course.
It also provides supplementary readings including journal articles and selections from other related economic books.
Concerns:
The textbook used is dated 2001, and thus may not contain the impact of the recent Great Recession on the modern macroeconomic theories nor up-to-date case studies that users can relate to.
Ease of Use for Both Students and Faculty
Rating:
Strengths:
The OCW is free and made available as a pdf download or web reading.
The instructions are clear and accurate for use.
The material is easy to navigate.
Concerns:
It is neither engaging nor interactive which could make it difficult for students to retain the concepts learned.
There also no contact information or an online discussion forum that could facilitate an area for clarification or comments.
The assignments and exams only has question sets with no solutions that makes it harder for self-learners to know if they are attempting the mathematical portions correctly.
Creative Commons:
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