The History of Modern Macroeconomics from Keynes to the Present

Examination of key developments in macroeconomics from the 1930s through the present. Case studies of the evolution of macroeconomics in political and social context. Topics include the theory of unemployment in the Great Depression; growth theory and the rise of business cycle modeling in the aftermath of World War II; the trade-off between inflation and unemployment in the 1950s and 1960s; the debate over monetarism in the age of stagflation; and the rise of the New Classical Macroeconomics in its aftermath. Prerequisite: Economics 210D.