Required Readings
1. Overview of Modern Macroeconomics
Snowdon and Vane, 1.1 – 1.3
A-Lucas, Understanding Business Cycles (HO)
Snowdon and Vane, 6.6, 1.4, and 2.14
B-Shales, “Introduction,” The Forgotten Man: A New History of the Great Depression (HO)
Snowdon and Vane, 1.5 – 1.10
2. “Classical” Economics
Snowdon and Vane, 2.1 – 2.5
C-Ahiakpor, “The Classical Theories of Interest, the Price Level, and Inflation” (HO)
D-Clower and Leijonhufvud, “Say’s Principle: What It Means and Doesn’t Mean” (HO)
E-Yeager and Rabin, “Monetary Aspects of Walras’s Law and the Stock-Flow Problem”
3. Keynes’ General Theory
Snowdon and Vane, 2.6 – 2.17
F-Keynes, “The General Theory of Employment”
4. Orthodox Keynesianism: IS-LM
Snowdon and Vane, 3.1 – 3.7
G-Tobin, “Price Flexibility and Output Stability: An Old Keynesian View”
5. Orthodox Monetarism
Snowdon and Vane, 4.1 – 4.5
H-Friedman, “The Role Of Monetary Policy”
6. Economics of Keynes
I-Leijonhufvud, “Keynes and the Keynesians: A Suggested Interpretation”
J-Clower and Leijonhufvud, “The Coordination of Economic Activities: A Keynesian Perspective”
7. The New Classical School
K-Maddock and Carter, “A Child’s Guide to Rational Expectations”
M-Leijonhufvud, “Inflation and Economic Performance” (HO)
Snowdon and Vane, 5.1 – 5.6
N-Lucas and Sargent, “After Keynesian Macroeconomics” (HO)
O-Lucas, “Monetary Neutrality”
8. Real Business Cycle School
Snowdon and Vane, 6.1 – 6.18
P-Prescott, “Theory Ahead of Business Cycle Measurement”
Q-Plosser, “Understanding Real Business Cycles”
9. The New Keynesians
Snowdon and Vane, 7.1 – 7.14
R-Mankiw, “The Reincarnation of Keynesian Economics” (HO)
10. The Post-Keynesians
Snowdon and Vane, 8.1 – 8.11
S-Davidson, “What Revolution? The Legacy of Keynes”
11. Austrian School
Snowdon and Vane, 9.1 – 9.13
T-Garrison, “From Keynes to Hayek: The Marvel of Thriving Macroeconomies”