Macroeconomic Theory ΙΙ
General equilibrium of the macroeconomic model: Extension of the IS, LM model for an open economy. Policy. Dynamic Macroeconomic analysis and the post-Keynesian macroeconomic model. Models of labor market behavior: theory of unemployment, Phillips curve, the role of inflation expectations, the natural rate of unemployment. Inflation theories, relation of unemployment and inflation in a growing economy and stagflation analysis. The hypothesis of rational expectations and the modern theory of macroeconomic policy. The Basics of economic growth.
Indicative Course Prerequisites: Introduction to Economic Analysis ΙΙ