Introduction to Macro-Finance

Introduction to Macro-Finance

ECON S3378 (CRN: 30061)

Instructors: Theofanis Papamichalis
Dates: Session B, June 29 - July 31, 2026
Course Mode: Online
Meeting Times: MWF 10.00-12.15
Distributional Requirements: Social Sciences
Eligibility: Open to college students only

Online Course. This course explores the intersection of macroeconomics and financial markets, examining how financial frictions, institutions, and policies shape aggregate outcomes. Topics include the role of financial intermediaries in business cycles, asset pricing and risk premia in macro contexts, credit, liquidity and equity constraints, the transmission of monetary and fiscal policy through financial channels, sovereign debt and default, and the interaction between global capital flows and domestic economies. Students will develop a working knowledge of baseline theoretical frameworks (e.g., financial accelerator; collateral and leverage constraints; intermediary asset pricing; macro models with an explicit financial sector) and engage with empirical evidence on crises, bubbles, and financial stability. All models and frameworks are presented in a pedagogically adapted form appropriate for undergraduate audiences, prioritizing clarity, intuition, and economic insight while maintaining analytical rigor. The course equips students with tools to understand how financial markets transmit and amplify macroeconomic shocks in modern economies. Prerequisites: ECON 1108, 1110, 1115 (or equivalent), and ECON 1111 or 1116 (or equivalent), and ECON 2122 or 2125 (or equivalent). Recommended: Calculus, Intermediate Microeconomics. For college students and beyond. 1 Credit. Session B: June 29 – July 31. Tuition: $5480. Technology Fee: $85.

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