Macroeconomics Lectures Stephen Jay Silver, PhD The ：宏观经济学讲座史蒂芬Jay银，博士.ppt

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Macroeconomics Lectures Stephen Jay Silver, PhD The ：宏观经济学讲座史蒂芬Jay银，博士.ppt

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Macroeconomics Lectures Stephen Jay Silver, PhD The ：宏观经济学讲座史蒂芬Jay银，博士

Macroeconomics Lectures Stephen Jay Silver, Ph.D.The CitadelShandong UniversityCenter for Economic ResearchNovember, 2010 Outline of Macroeconomic Lectures In this lecture I will introduce myself and the topics I plan on discussing over the next four weeks The preparation for these talks have been extremely useful for me in relearning macroeconomic topics that I have not looked at in many years as well as several new issues that have become “hot” since my Ph.D. program I hope you will find what I have to say about the various topics and issues as I have Think of these lectures as a short modern history of economic thought course Lecture I – Self Introduction and outline of upcoming lectures Discussion of approaches to teaching graduate macroeconomics at U.S. universities Saltwater versus freshwater debates New Emphasis on growth theory Brief discussion of the major issues and approaches taken by each school of thought Lecture II – The Classical approach to economics The legacy of Adam Smith and his followers: David Ricardo, John Stewart Mill and Alfred Marshall Challenging Mercantilism with the idea of specialization, laissez-faire markets, and free trade Classical explanations of the business cycle The Austrian School Lecture III – JM Keynes and Keynesianism Why Keynes took his new approach: the Great Depression and the threat of Marxism Keynes’ explanation of the business cycle and depression Development of the Keynesian model Keynes on money and why he preferred fiscal to monetary policy Deficiencies of his model Attacks of the model Lecture IV – Monetarism and Milton Friedman Friedman’s emphasis on monetary effects on aggregate demand Weaknesses in the General Theory of Keynes Empirical evidence that money, and only money, can influence the economy over the business cycle (except for “real” shocks) The Phillips curve and the Natural Rate Hypothesis Permanent Income Hypothesis Lecture V – New Classical Approach to the business cycle and Robert Lucas R