Homework assignment: modern macro book outine

Dear eminent-macro-economist-who-would-have-a-chance-in-hell-to-get-this-to-stick –

Please write this book.

  1. Intro
  2. Intertemporal consumption choice
  3. Growth
  4. Growth policy
  5. Labor or leasure choice
  6. Worker flows and unemployment
  7. Expectations (including learning stuff)
  8. Business cycles
  9. Monetary policy
  10. Political economy and fiscal policy


5 thoughts on “Homework assignment: modern macro book outine”

  1. Teach from your notes, if you have the power to decide what to use.

    Then again, the only different I see between your outline and some textbooks is the ordering of subjects. Charles I Jones might have a textbook (intermediate) you’d like.

  2. P.S.

    “Labor or leasure choice” … this is way over-emphasized. There’s little variation on that margin, at all interesting frequencies.

    “Growth policy”… Uh… Fiscal policy, you mean?

  3. I meant that if the set of policy instruments is the same, it’s hard to tell them apart.

    Re: fiscal policy, sure, there’s a problem about whether you want to teach “optimal policy” or “political equilibrium policy”, but I see little coverage of that in undergraduate texts.

  4. Given what we’ve learned in macro in the last 60 years (i.e. the ineffectiveness of fiscal policy at least in “normal” times), I’d say the study of fiscal policy is a descriptive science, i.e. political economy. Growth policy is normative.

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