What Should I Expect from Graduate Macroeconomics?

Kenneth W. Michael Wills

Course content for graduate macroeconomics will often depend on the university attended and the theoretical leanings of the professor teaching the class. In general, however, most macroeconomic courses will focus on the key issues of macroeconomics at the graduate level of study. Those focuses include economic growth strategies, business and macroeconomic fluctuations, monetary and fiscal policies, international economics, and issues or problems in the research and implementation of macroeconomic strategies. Students can expect intense and rigorous study of various models and theories associated with each topic as well as problems using the theories and models studied to devise solutions.

Most macroeconomic courses will focus on the key issues of macroeconomics at the graduate level of study.
Most macroeconomic courses will focus on the key issues of macroeconomics at the graduate level of study.

There are various macroeconomic theories and models that depict likely growth strategies and opportunities in a macro environment. Familiarization with several of those theories and models is of crucial importance in graduate macroeconomics. Particularly, students need to understand how economic growth is achieved and its relation to investment strategies. Related to growth theory, students will also study asset pricing theory, consumption and general equilibrium. Graduate students can also anticipate learning and demonstrating how the theories and solutions apply to business and economic fluctuations on the macro scale.

As they are important for any aspiring economist, monetary and fiscal policy are central to graduate macroeconomics. Studying current monetary and fiscal policies both nationally and globally will help students understand how those policies impact economic decisions and outcomes. Examining various monetary and fiscal policies gives students a broad exposure to the approaches used by nations and international trade associations in attempts to achieve general equilibrium and healthy economic growth.

International economics is also an important focus in graduate macroeconomics because it provides students with an objective view of how different nations and cultures approach economics. With an intensive study of those varying approaches, students can understand how nations and regions effectively plan and implement healthy economic strategies. They can expect to effectively demonstrate how various approaches used by economic planners impact the world economy.

Additionally, graduate macroeconomic students will examine past, current and anticipated macroeconomic issues related to the macro economies. Often students will examine those issues, investigate problems or anticipated issues, and devise effective solutions to address the challenges presented. Given the focus on theory and problem solving, students can also expect to learn advance mathematical applications and analytical approaches. The overall aim of graduate macroeconomics is to prepare a person to examine research literature on the subject and apply the principles and theories of macro economics to solve real-world economic and social issues.

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