Download ECON 201-400 Principles of Macroeconomics

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Principles of Macroeconanics
Economics 201
Section 400
University of Colorado
Fall 1984
Paul W:>jick
Office:
Office hrs: M 3:00 - 4:00
W 9:00 -10:00
F 10:00-11 : 00
Course D:scription
This course has been developed with the intention of introducing students
to the ideas and analysis which comprise the subject of macroeconomics.
In
focusing on this particular aspect of economics we will be involved in an
effort fo identify the major forces that affect the operation and :i;:ierforrnance
of an economic system so that we might develop a better understanding of both
how an economy works and the phencmena which might have an effect on how ~11
an economy ~rks.
We will also concern ourselves with analysing the potential
which public policy holds for improving the :i;:ierforrnance of an economic system
and achieving public goals (such as full employment and price stability) which
are fonnulated through the political process.
With these thoughts in mind, your goals for this course, if for no other
reason than the fact that these things will be expected of you, should be as
follows :
a) Learning basic concepts such as demand, supply, consumption, investment,
capital, and fractional r eserves.
b) Relating and applying basic concepts as one aspect of the develoµrent
of a fuller conception of this institution we call an economic system.
c) I.earning the simpl e models we will develop in class in order to enhance
our understanding of important economic relationships and the manner in
which an economic system works.
d) Understanding the problems (such as unemployment and inflation) to
which an economic system might be susceptible and the policies which
might be implemented in an attanpt to alleviate these problems.
Assigned Texts
Bradley R. Schiller, The Macro Economy 'Ibday.
Robert B. carson, Macroeconomic Issues Today.
1983.
New York: Raman House, 1983.
New York: St. M:lrtin 's Press,
Course outline and Reading Assigrroents
You will find the pro:i;x>sed outline of course topics and reading assigrurents
belc:M.
I do, h<Mever , r eserve the right to make changes in the event that we
spend more than the anticipated anount of tirre covering a particular subject.
'Ibpic
Date
Sept. 5-10
Sept. 12-17
Introduction
The operation of markets and the determination of relative prices.
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Assignment
Schill er
carson
01. 1
Ch. 2
Intro.
..
..
Date
Topic
Assignrrent
Schiller carson
Sept. 19-24
The role of government in the economy .
Ch. 3
Sept. 26-28
Quantifying the performance of an econany.
Ch. 4
~t.
Two ma.jor rracroeconanic problems:
unemployment and inflation.
Ch. 5,6
1-8
~t.
10
EXAM 1
--
~t.
12-15
A simple macroeconomic model. Understand- Ch.7,8,9
ing the Keynesian theoretical approach and
its policy implications.
~t.
24-29
Understanding money and a nndern monetary
system.
Ch . 10
~t.
31Nov. 5
The Federal Reserve System and the supply
of money.
Ch. 11
Understanding monetary policy. The
monetarist perspective and the Keynesianmonetarist deba.te.
Ch. 12
Nov.
7-14
Issue 5,6
Issue 3,4
Nov.
16
Exam 2
--
Nov.
19-26
Supply side economics and the policies of
the current administration.
Ch. 13, 15
Nov.
28
If we're so smart, why don't things work
a little bit better?
Ch. 14
Nov.
30Dec. 3
The growth of an econanic system through
Ch. 17
time.
Dec.
5-10
Dec.
12-14
U.S. markets as part of a worldwide system Ch . 18,19 Issue 7
of rrarkets.
An alternative means of organizing a
society's productive resources.
Dec.
18
Issue 1,2
Final Exam
Ch. 21
Issue 8
(Tuesday, 7:30-10:30 am)
Grading Policy
Your grade in this class will be determined as follows:
1) You will take two hourly exams, each of which will count 25% of your
grade.
There will be no make-up exams of any kind given in this course.
If you miss an exam and have a legitimate excuse, the weight of your
final exam will increase proportionately. If you miss an exam, but do
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not see me about it, your score on the exam will be recorded as a zero.
2) You will complete four assignrrents in recitation which will account for
10% of your grade.
3) You will take a canprehensive final examination which will count 40%
of your grade. If your score on the final exam is better than your
average for the course prior to the final and you have completed all
other required work (which means both of the midterm exams and
everything in recitation), your grade will be corrpletely detennined by
your score on the final.
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