Macroeconomics

Robert Lester started working at Colby in 2015 after completing his graduate work at the University of Notre Dame. His research is in macroeconomics generally and monetary economics in particular.

• PART I: GROWTH.1. Defining and Measuring GDP.2. Production Functions.3. The Solow Model of Economic Growth.4. Explaining Total Factor Productivity.PART II: CLASSICAL THEORY.5. Money, Prices, and Nominal Interest Rates.6. Saving, Investment, and the Real Interest Rate.7. International Trade and the Macroeconomy.8. Labor Markets.9. Government Spending and the Macroeconomy.PART III: BUSINESS CYCLES.10. Introduction to Business Cycles.11. The IS-MP Model.12. The IS-MP-AS Model.13. IS-MP-AS in the Open Economy.PART IV: BANKING AND FINANCIAL MARKETS.14. Banking and the Macroeconomy.15. Bonds, Stocks, and Monetary Policy.Mathematical Appendix.