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\ Economics 3080-002 INTERMEDIATE MACROECONOMIC THEORY Fall 1989 Larry Burke Office: Economics Room 309A Hours: MWF, 9-10 am, or by appointment Phone: 492-6875 This course will examine how the macroeconomy functions, or fails to function, from a variety of competing theoretical perspectives. Although the course will concentrate on economic theory, much consideration will also be given to the institutional features of the American economy and to empirical tests and policy implications of the theories presented in the course. At the end of the semester you should possess a critical understanding of these theories and the ability to apply them in your thinking about current economic problems. Required text: Macroeconomics: From Theory to Practice by Paul Wachtel (New York: McGraw-Hill, 1989); plus a short set of supplementary readings (Kinko's). Course grades: Your grade will be based on two midterm examinations (weighted 25% each) and a comprehensive final exam (50%). If your final exam score is higher than the total of your midterm scores, your final will count for 100% of your course grade. No makeup exams or extra-credit assignments will be given. You can help your grade by actively participating in class. You are expected to know and to comply with University policies regarding drops, academic honesty, etc., as stated in the Fall, 1989, Schedule of Courses and in the University Catalog. Tentative schedule of topics, reading assignments, and tests : Week of: Topic Text, Chapter(s) ------------------------------------------------------------------------ Aug. 30 Introduction and 1 Sept . 4 Review of Principles 2, 3 Sept. 11 The Simple Keynesian Model 4 Sept. 18 Consumption & Investment pp . 373-389, 395-408 Sept . 25 The IS-LM Model I 5 Oct. 2 The IS-LM Model II pp. 329-340, 389-391 ************** Midterm Exam 1 ** In Class** October 6 ***************** Oct . 9 Aggregate Supply and Demand 6, pp. 353-364 Oct . 16 Inflation 8 ' Oct. 23 The Phillips Curve 7, pp. 365-369 Oct. 30 Monetarism and 9 Nov . 6 Monetary Policy 13, pp. 340-349 ***************Midterm Exam 2 ** In Class** November 10 *************** Nov. 13 Fiscal Policy, Growth , 10 and Supply-Side Economics Nov . 20 12. pp. 409-421 Nov. 27 The New Classical Model 19 Dec. 4 Open Economy Macroeconomics 11 Dec. 11 Conclusion ********* Final Exam** December 19 ** 3 : 30-6 : 30 pm** Econ 117 ********