Skip to article frontmatterSkip to article content
Site not loading correctly?

This may be due to an incorrect BASE_URL configuration. See the MyST Documentation for reference.

Introduction

This openly licensed non-commercial share-alike online book is built with many Jupyter notebooks that cover the topics I teach in my course, Intermediate Macroeconomic Theory.

Throughout the book, I provide examples of data collection, transformation, visualization, and analysis. To use or create your own notebooks, please see Jupyter notebooks and Python.

This book is meant to complement Olivier Blanchard, Macroeconomics (9th Edition, Pearson, 2024).

Macroeconomic Time Frames

This book’s logo has 3 rings that represent 3 different time frames that help organize macroeconomic concepts and models.

A site logo with 3 rings. The first ring has a speed dial for the short run. The second ring has two workers representing the labor force in the medium run. And the third ring has an upward trend line on a gear representing technological growth over the long run.

  1. The first ring has a speed dial that represents short-run economic activity. Macroeconomics in the short run is concerned with the causes and effects of recessions and the immediate responses of various government and central bank policies during the following couple years.

  2. The second ring has two workers who represent the medium-run labor market. After a recession starts, a full recovery of the labor market takes about 2 to 5 years, i.e., the medium run.

  3. The third ring has a graph with an upward time trend to represent long-run economic growth. Countries accumulate capital and experience technological advancement that increase their productivity and drive growth in income per capita over decades, i.e., the long run.

Part 1
Macro Data