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Explore fundamental macroeconomic principles through this comprehensive MIT undergraduate course taught by Professor Ricardo J. Caballero. Examine critical economic questions including the causes of recessions, the impact of the 2020-2021 pandemic on the U.S. economy, the 2008-2009 Global Financial Crisis, current inflation trends, unemployment fluctuations, exchange rate movements, and varying economic growth rates across countries. Analyze four major themes: short-run economic fluctuations, long-run growth determinants, government policy investigations (including monetary policy, government spending, and exchange rate policy), and key economic sectors such as consumer spending, business investment, and financial markets. Master essential macroeconomic models including the IS-LM framework, Phillips Curve, labor market dynamics, and open economy models like Mundell-Fleming. Study technological progress, capital accumulation, economic convergence, cross-country variations, financial markets, asset pricing, and the role of expectations in economic decision-making. Gain practical understanding of how policies in one country affect others and develop analytical skills to interpret real-world economic events and policy decisions.
