Intermediate macroeconomics should be taught as a two-part sequence, with the first component based on a benchmark model that reflects accepted theory and applications to policy, with electives introduced in subsequent courses.

The production and consumption of food at home is one of the most frequent and ubiquitous of all human activities and yet little is known about some of the basic economic constructs of this activity. Increasing our knowledge of food at home economics is important for improving the nutritional...

Until the 1990s, prices were believed to be procyclical. Several researchers have since presented evidence of counter-cyclical prices. This evidence proved robust, but its interpretation has varied. Some have argued that the contemporaneous correlation between output and prices reflects both the...