| Class | Topics | Prerequisites |
|---|---|---|
| First | Apply the topic to students' lives (Section 4) | Geometric and arithmetic means |
| Present the Keynesian Consumption Function (Section 5) | Linear function | |
| Present the Lucas Critique and the System of Equations (Section 6) | Notions of econometrics, especially estimation | |
| Second | Present the Consumption Function and Unemployment Insurance Policy (Sections 7.1 and 7.2) | Random variable, expected value, and the Law of Large Numbers |
| Third (optional) | Discuss some Extensions of the Optimal Consumption Function (Section 7.3) | Notions of precautionary savings and liquidity constraints |
| Lucas Critique: Some Empirical Results (Section 8) |
| Class | Topics | Prerequisites |
|---|---|---|
| First | Apply the topic to students' lives ( | Geometric and arithmetic means |
| Present the Keynesian Consumption Function ( | Linear function | |
| Present the Lucas Critique and the System of Equations ( | Notions of econometrics, especially estimation | |
| Second | Present the Consumption Function and Unemployment Insurance Policy ( | Random variable, expected value, and the Law of Large Numbers |
| Third (optional) | Discuss some Extensions of the Optimal Consumption Function ( | Notions of precautionary savings and liquidity constraints |
| Lucas Critique: Some Empirical Results ( |
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