Lectures: 2 sessions / week, 1.5 hours / session
14.454 is an introduction to current macroeconomic concerns with particular emphasis on medium-run economic fluctuations, economic crises, and the role of asset markets. Topics include the explanation of high chronic unemployment in some nations, the source of modern liquidity crises, the origin and end of speculative bubbles, and the factors that lead to substantial periods of economic stagnation.
Students are required to complete the readings and problem sets in order to succeed in this course. The course grade is largely determined by the final exam, and practice exams are provided to the students as a study tool. Problem set work can impact final course grades as well.