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Reading Selections:
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We introduced macroeconomics by examining two economic disasters, the Great Inflation of Germany in 1922-23 and the Great Depression of the United States in the 1930s. Most of macroeconomics has developed as economists have tried to make sense of these and similar episodes. If you have read many of the pages on this site, you probably have encountered areas of significant disagreement among economists. One reason for this disagreement is that there remains controversy about which framework should be used in macroeconomic analysis. This group of readings will review these frameworks and the behaviors they lead us to examine. It also highlights some areas of considerable (but hardly unanimous) agreement among economists and shows what these agreements tell us about those two disasters that introduced you to macroeconomics.
After you finish this unit, you should be able to:
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