Macroeconomics

Macroeconomic theory is the study of an economy’s aggregate behavior. Specific topics include the effect of monetary and fiscal policy on output, employment, and price level in both the long and short run; business cycles; the role of different monetary arrangements; determination of the money stock, bank credit, and interest rates; the nature of the interacaction between budget and monetary expansion; the relation between inflation, unemployment, and the role of expectations; and the interaction between asset markets and the output market.

Faculty and Research Interests

• Gregg A. Jarrell: His interests include the economics of corporate control, economics of regulation, and applied corporate finance.
• John B. Long Jr.: His research interests are primarily in the area of financial economics.
• G. William Schwert: His research and teaching interests include portfolio and capital-market theory, corporate finance and control, econometrics and time-series analysis, and the effects of public regulation on business.