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ECON 442 Economic Theory II (Macro) (Pre-req: ECON 313 and 314. A good background in Quantitative Techniques)

Credit hours: 
3

National Income Accounting Revisited. National Income Determination.

Harrod - Domar growth models and macro-models using difference equations; growth in the context of adjustment; growth and technological change.

Theory of Unemployment and Inflation. Mercantilism and the transition from feudalism to capitalism.

The classical school. The Marxian theory of capitalist development. Economic historicism.

The marginal approach.

The neo-classical model. Keynes and the impact of his thought on economic analyses and policy. Modern trends of thought.