The roles of money and expectations. The U.S. monetary system. Monetary theory, monetary policy and economic stabilization. An introduction to macroeconomic policy analysis. Coverage of both empirically based theoretical issues and microcomputer based simulation of policy alternatives.
Emphasis is on economic applications rather than statistical theory.
Special emphasis on problems of controlling air and water pollution. Surveys of major thinkers, doctrines and theories, with emphasis on the policy issues that motivated their work. Proper size and functions of government. Market failure, Cost-benefit analysis, public goods provision. Pricing of public enterprise services.