ECON 505 Fall 2012 Developing Country Macroeconomics

This course focuses on the relationship between macroeconomic policies and economic growth in developing countries. After examining the links between macroeconomic stability and long-run growth, the rest of the course is divided into three parts. The first part is devoted to the construction of an analytical model that is suitable for analyzing a wide variety of macroeconomic issues in developing countries. This model provides the general framework for a more specific analysis of fiscal and monetary policies in the two remaining parts. In analyzing fiscal policy, the course will consider in particular the requirements of fiscal solvency and the contribution that fiscal policy can make to macroeconomic stability. It will also examine alternative methods for achieving fiscal credibility, including the design of fiscal institutions. The final part of the course will turn to an analysis of central banking, focusing on central bank independence, time consistency of monetary policy, and the design of monetary policy rules in small open economies.
Class Format: lecture
Requirements/Evaluation: two hour tests and a comprehensive final exam
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Prerequisites: Economics 251 and 252; undergraduate enrollment limited and requires instructor's permission
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Divisional Attributes: Division II
Other Attributes: INST Economic Development Studies Electives
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Expected Enrollment: 25-30
Class Number: 1519
ECON505-01(F) LEC Developing Country Macroecon Division 2: Social Studies Peter J. Montiel
MWF 08:30 AM-09:45 AM CDE 1519
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