The Ultimate Guide to Mastering Macro Policy: Crush Your Upper Division Undergrad Class in 2025!

Embarking on a journey towards fresh perspectives in Econ 442 (Macroeconomic Policy). Last year, I introduced topics such as climate change and r* to the undergraduate course, thanks to the valuable suggestions I received in response to a previous post. Here are the new additions for this year’s course:

1. Current Outlook
   • Seek insights from CBO’s upcoming publication, "The Budget and Economic Outlook: 2025 to 2035" (2025), releasing on January 17th.
   • Delve into Chapter 1 of the "Economic Report of the President, 2025," scheduled for publication on January 15th.
2. Implications of Mass Deportation
   • Explore the economic ramifications of a potential second Trump presidency in McKibben et al.’s work, "The international economic implications of a second Trump presidency," WP 20-24 (2024).
   • Delve into Edelberg et al.’s study, "Immigration and the macroeconomy in the second Trump administration" (2024).
3. Impact of Debt
   • Refer to CBO’s publication, "Revisiting the Relationship Between Debt and Long-Term Interest Rates," WP 2024-05, for insights on the correlation between debt and interest rates in the long term.
4. Climate Change
   • Gain knowledge from Stock’s research, "Climate Change, Climate Policy, and Economic Growth," in NBER Macroeconomics Annual 2020.
   • Read through CBO’s analysis of "The Risks of Climate Change to the United States in the 21st Century" (2024), focusing on Chapters 2-3.
5. Central Bank Independence
   • Understand the dynamics of political pressures on central banks through Binder’s article, "Political Pressures on Central Banks," published in JMCB (2021).

These fresh readings complement the existing material in the course, which revolves around Blanchard’s "Macroeconomics" textbook. By incorporating these new perspectives and research findings, we aim to enrich our understanding of macroeconomic policy and its implications in our ever-evolving economic landscape.

As we navigate through these insightful readings, let’s embrace the opportunity to broaden our horizons and challenge our existing perspectives. Let’s delve deeper, question assumptions, and strive to gain a more nuanced understanding of the complex interplay between economic policies and real-world outcomes. Together, let’s embark on this intellectual journey towards new insights and perspectives in the realm of macroeconomic policy.