This course is designed to introduce theoretical macroeconomic models within a dynamic framework in the first half part and to illustrate empirical macroeconomic analyses in the second half. The first part will be instructed by professor Lai and he will discuss these theoretical models both in discrete and continuous time formats. In addition, he will also introduce current debates on the evidence and policy relevance to the economic performance of both developed and developing economies. The theoretical material will be reinforced by tutorial exercises that require students to understand and interpret the mathematics and economics of the macroeconomic models. The second half of this course will be taught by professor Lin. In this part of work, she will focus on the implication of the theoretical growth models and their applications on empirical analyses. Later, she will divert to the short-run fluctuations of an economy, by revealing the facts about business cycles and discussing the relationship between investment and asset prices.