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Theory and evidence about the dynamic behavior of households, firms, and the macroeconomy as a whole in the short and long run. Begins with a thorough discussion of the consumption/saving problem of households, including the role of uncertainty, then moves to investment behavior of firms, including the relationship between financial markets and firm behavior. General equilibrium models of firms and households combine to generate benchmark models of economic growth, which leads us to a benchmark specification for dynamic aggregate macroeconomic models.