Econ 605 Spring 1998
Topics to Midterm
(Provided as a free service; not guarantee to be accurate!)
Hawai‘i's Economy
The AS-AD/IS-LM model and policy
Operation of labor market, product market and AS
Short-run, long-run
Graphical and analytical models
Comparative statics (multipliers)
Intro to macro econometric modeling
Model structure
Model estimation, simulation
Practical simulation work with the Fair model
Shortcomings
Consumption theory
The intertemporal model
Alternative empirical models and evidence
Investment theory
2 period I problem and C, I separation
net present value rule
empirical I models and evidence
Savings, Investment and the CA
Alternative defns of the CA
The savings-investment (Metzler) model
BoP accounting
The US-Japan case
Fiscal policies
The govt budget constraint and individual behavior
Effects of govt spending of various types.
Effects of budget deficits
Ricardian equivalence