Macroeconomic Policy (Econ 413/592)

In fall 2019, South Dakota State University will offer Macroeconomic Policy (Econ 413/592).  The course will meet Wednesday evenings from 6 to 8:30 pm in Harding Hall 025.  Professor J. Santos will instruct the course.

In Macroeconomic Policy, we will study government policies designed to shape macroeconomic activity.  These policies include fiscal policy, monetary policy, financial-stability policy, foreign-exchange policy, trade policy, tax policy, and growth policy.  We will study these policies and their macroeconomic consequences in theory and in practice, including in the context of the most-recent international financial crisis and subsequent macroeconomic contractions in the United States and around the world.  The textbook for the course is the following.

Bénassy-Quéré, Agnès, Benoît Cœuré, Pierre Jacquet, and Jean Pisani-Ferry.  2019.   Economic Policy: Theory and Practice.  Oxford: Oxford University Press

The course includes the following topics.

1. Concepts

2. Issues

3. Interdependence

4. Fiscal policy

5. Monetary policy

6. Financial-stability policy

In this segment of the course, we will analyze U.S. macroeconomic-policy responses to the financial crisis that began around 2008 and propagated the Great Recession in the United States.  As part of our study, we will read the following highly critical and controversial assessment of the Federal Reserve’s monetary-policy response to the crisis.

Ball, Laurence M. 2018. The Fed and Lehman Brothers: Setting the Record Straight on a Financial Disaster. Cambridge, UK: Cambridge University Press

7. International financial integration and foreign-exchange policy

8. Tax policy

9. Growth policy


The course will include additional readings.  Check this page occasionally for course updates.

If you wish to register for this course and require assistance to do so, please contact J. Santos at