Econ 606 Course Module Home Page: Macro Coordination (Tesfatsion)

Econ 606: Advanced Macro Topics

Course Module Home Page
Macroeconomic Coordination

Last Updated: 11 January 2004
Latest Offering: Spring 2004 (First Five Weeks)
Time/Bldg/Room: MW 12:40-2, Heady 272

Course Module Instructor:
Professor Leigh Tesfatsion
Department of Economics/Heady 375
Iowa State University
Ames, Iowa 50011-1070
(515) 294-0138

Instructor Office and Office Hours:
Heady 375, TR 12:20pm-1:50pm and by appointment

Course Module Syllabus (Topics, Discussion Questions, Readings):
General Resource Site for Macro and Financial Economics:

Course Module Objectives

Achieving an accurate understanding of the way in which key macro variables (output, employment, price levels, capital stocks,...) move together over time in decentralized market economies is a fundamental problem of macroeconomic theory. At present there is no consensus regarding which theory best explains this movement. At one end of the spectrum, new classical macroeconomists work within frameworks in which the macroeconomy is assumed to be in a continual state of equilibrium characterized by strong efficiency properties. At the other end of the spectrum, post-Walrasian macroeconomists argue that macroeconomies regularly exhibit coordination failure (various degrees of inefficiency) and even lengthy periods of disequilibrium. Given these fundamental differences, it is not surprising to see major disagreements among macroeconomists concerning the extent to which government policy makers can and ought to attempt to influence macroeconomic outcomes.

This course module will explore alternative perspectives on macroeconomic coordination in an attempt to clarify why macroeconomists exhibit such strong, passionate, and persistent disagreement on this issue.

Course Module Organization

Disability Statement

If you have a disability and require accommodations for this course, please contact the instructor early in the semester so that your learning needs can be appropriately met. You will need to provide documentation of your disability to the Disability Resources (DR) office, located on the main floor of the Student Services Building, Room 1076, 515-294-6624.

Copyright © 2004 Leigh Tesfatsion. All Rights Reserved.