important concepts in macroeconomic analysis LECTURE 1 Introduction to Macroeconomics Text treatment: Mankiw 8th (& 7th) edition, Ch. 1-2 2 Outline of the course: Introductory material (Chaps. 1, 2 & 3) Growth Theory (Chaps. 8-9) The standard of living and its growth rate over the very long run Classical Theory contd (Chaps. 4, 5 & 6) How the economy works in the long run, when prices are flexible Business Cycle Theory (Chaps. 10-11) How the economy works in the short run, when…
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