Assignment Readings
1. Overview of Modern Macroeconomics
1-Romer, “Changes in Business Cycles: Evidence and Explanations”
2-Bernanke, “The Macroeconomics of the Great Depression: A Comparative Approach”
3-Eichengreen, “The Origins and Nature of the Great Slump Revisited”
2. “Classical” Economics
4-Ahiakpor, “Full Employment: A Classical Assumption or Keynes’s Rhetorical Device?”
5-Baumol, “Say’s (at Least) Eight Laws, or What Say and James Mill May Really Have Meant”
6-Kates, “On the True Meaning of Say’s Law”
3. Keynes’ General Theory
4. Orthodox Keynesianism: IS-LM
11-Hicks, “Mr. Keynes and the “Classics”; A Suggested Interpretation”
12-Modigliani, “Liquidity Preference and the Theory of Interest and Money”
5. Orthodox Monetarism
13-Modigliani, “The Monetarist Controversy Revisited”
14-Friedman, “Inflation and Unemployment”
6. Economics of Keynes
15-Leijonhufvud, “Keynes and the Crisis”
7. The New Classical School
16-Laidler, “The New-Classical Contribution to Macroeconomics” (HO)
8. Real Business Cycle School
17-Mankiw, “Real Business Cycles: A New Keynesian Perspective”
18-Summers, “Some Skeptical Observations on Real Business Cycle Theory”
9. The New Keynesians
19-Gordon, “What is New-Keynesian Economics?”
20-Greenwald and Stiglitz, “New and Old Keynesians”
10. The Post-Keynesians
21-Rosser, “Alternative Keynesian and Post Keynesian Perspectives on Uncertainty and Expectations”
11. Austrian School
22-Hayek, “The Pretence of Knowledge”, Nobel Lecture
23-Caplan, “The Austrian Theory of the Business Cycle,” Section 3.4, Why I Am Not an Austrian Economist
24-Wagner, “Boom and Bust: The Political Economy of Economic Disorder”"