Eco 480: Large Scale Macro
This course will review the historical work of Nobel Laureate Lawrence Klein building large scale 100 + equation structural econometric models of the macroeconomy Klein and others have developed to shed detailed light on how the economy operates. More recent work in this area by Ray Fair and the course instructor will be examined. The macroeconomic theory underlying such models is Keynesian mechanics. This will be taught at the beginning of the course, as will how to use the necessary econometric tools for estimating equations for such models. This is an applied rather than a theoretical course. Much of the workload will involve students developing their own large scale econometric models.
Prerequisites: Successful completion of Eco 301 and Eco 320.