Download ECON 3080-001 Intermediate Macroeconomic Theory

ECONOMICS 3080 - 001
Intermediate Macroeconomics
Department of Economics
University of Colorado at Boulder
Fall 2001
Instructor: J. Ulyses Balderas
Lecture: MWF 2:00 - 2:50 pm in EKLC E1B20
Office: ECON 309B
Phone: 303-492-6237
e-mail: [email protected]
Office hours: MW 12:30- 1:45 pm; and by appointment
COURSE DESCRIPTION
Economics studies how people and institutions make decisions when confronted with
multiple choices. Economics is divided into two fields: Microeconomics and
Macroeconomics. Microeconomics studies the behavior of individuals and organizations
(consumers, firms) at a disaggregated level; while macroeconomics studies the overall or
aggregate behavior of the economy. Since our concern in this course is with
macroeconomics, we seek to explain phenomena such as economic growth, inflation, and
unemployment, and we are not concerned with, say, the demand for or the supply of
coffee.
Topics will include the following:
• Introduction - science and data of macroeconomics.
• The economy in the long run - national income, economic growth, unemployment, and
inflation.
• The economy in the short run - economic fluctuations , aggregate demand and aggregate
supply.
• Policy Debates - stabilization policy and government debt and budget deficits.
• Microeconomics behind macroeconomics - consumption, investment, money supply
and money demand, and economic fluctuations.
PREREQUISITES
The prerequisites for this class are ECON 1000 or ECON 2010; and either ECON 10781088 or MATH 1300, or equivalent. Even though this is not a math class, I expect some
knowledge on calculus and algebra.
TEXTBOOK
There is one required textbook: Gregory Mankiw , Macroeconomics - Fourth Edition,
Harcourt Publishers, 2000.
GRADING
The following criteria will be used to assign your grades,
1. Two midterm exams (50% ). Due to time constraint, the two midterms will be
given outside regular class hours. First midterm is scheduled for Monday, October
15th from 5:00 to 7:00 pm. Second midterm is scheduled for Friday, November
16th from 5:00 to 7:00 pm. I will announce the rooms later in the course.
2. A final exam (35% ). This is a mandatory and comprehensive exam scheduled for
Friday, December 14th, from 1:30 to 4:00 pm.
3. A computer simulation (15% ): A computer exercise called "The Presidential
Game" is going to be assigned. You can get the game from Macrobytes 4.0. This
is accessible at the website www. worthpublishers. comlmankiw.
Your report has to be written according to the following criteria:
a. Explain the reasons for important policy choices and their consequences,
in four pages or less.
b. Print last page (standings).
c. R ecord an d present t he f o11 owmg t abl e,
2005
2006
2007
2008
2009
2010
...
Change in M
(
T/Y
G!Y
Unemployment
Inflation
Percentage
change in Y
d. Due on Wednesday, December 12th
EXAMS POLICY
There will be no make-up exams. To miss the midterm, you must have a note from some
acceptable authority figure explaining your absence. Without an acceptable excuse,
missed midterms will be given a failing grade. If you have an acceptable excuse, I will
give extra weight to the final examination. You cannot miss the final examination. If you
miss the final , you fail the course. Computer exercises submitted after the deadline will
be penalized with 30% of the grade.
HOMEWORK
I will assign problems from the textbook. I do not collect homeworks so you are
responsible for working on them before the exam. I will give you the answer key some
days before exam. All this information will be available on the web site.
SOME TIPS
Read the assigned chapters in advance for lectures. Take class notes thoroughly. I will
cover some materials from outside sources in which case your notes will be your only
reference. Class attendance is not mandatory, however attending class regularly and
participating could help to improve your grade if you are at the margin.
It is especially important that an atmosphere which facilitates the maximum opportunity
for learning be present at all times. Although attendance is an expectation for all students,
it is not a requirement for lecture. Course material not in the textbook will be presented
so attending lecture is both helpful in getting a good grade and maximizing your learning
,
experience. It is expected that all students present on a given day be attentive, polite and
not a source of distraction to the instructor or any other student. Questions and comments,
of course, are always encouraged! Every effort will be made to make the classroom
experience both productive and enjoyable for all.
STUDENTS WITH SPECIAL NEEDS
The Economics Department will make reasonable accommodations for persons with
documented disabilities. Students must notify their instructors no later than the end of the
first week of term, and provide documentation of the disability obtained from the
Disabilities Services office located in Willard Hall, Room 322.
Tentative Course Schedule
Date
August 27
August 29,31
Sep 5,7,10
Sep 12,14,17
Sep 19,21
Sep 24,26
Sep 28, Oct 1
Oct 3,8,10
Oct 12
Oct 15
Oct 17
Oct 19,22,24
Oct 26,29
Oct 31, Nov 2,5
Nov 7,9, 12, 14
Nov 16
Nov 19,21,26
Nov 28,30
Dec 3,5
Dec 7
Dec 10
Dec 12
Dec 14
Topic
Introduction
Science and Data of Macroeconomics
National Income
Economic Growth I
Economic Growth II
Unemployment
Money & Inflation
Open Economy
Economic Fluctuations
Exam 1 (5:00-7:00 pm)
Economic Fluctuations
Aggregate Demand I
Aggregate Demand II
Aggregate Demand in the Open Economy
Aggregate Supply
Exam 2 (S:00-7:00 pm)
Stabilization Policy
Government Debt and Budget Deficit
Consumption
Investment
Money Supply and Money Demand
Advances in Macroeconomic Theory
Final Exam
Chapter
1
2
3
4
5
6
7
8
9
1-8
9
10
11
12
13
9-13
14
15
16
17
18
19
1-19