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UNIVERSITY OF COLORADO Principles of Macroeconomics Fall 1994 Jay Kaplan Office: Economics 40 (in the basement) Office #: 492-7869 Office Hours: Wednesday 2:00-5:00 or by appointment COURSE DESCRIPTION Economics 2020 introduces the basic concepts of macroeconomics. Actual economic events will be discussed and their linkages to economic theory will be studied. We will study the behavior of an economy in the aggregate with special emphasis on the U.S. economy. The objective of economic growth and problems of unemployment, inflation and recession will be analyzed. We will study the available macroeconomic policies that can be used to correct for these problems. The analysis will first be developed within the context of a closed (domestic) economy and then be broadened to an open (international) economy. Throughout the course students will be encouraged to bring up current events as they happen in the news and the relationship to the theory which is being studied. TEXTBOOKS There is one textbook for this course: Macroeconomics, by Byrns and Stone, 5th Edition, 1992. In addition, students are urged to keep up with current economic events by reading sources such as newspapers, periodicals and by watching the news on television. COURSE REQUIREMENTS There will be three in-class examinations given during the semester and then the optional final exam. The exams are scheduled as follows: EXAM #1 : EXAM #2 : EXAM #3 : OPTIONAL SEPTEMBER 29 NOVEMBER 3 DECEMBER 14 FINAL EXAM: WED. DECEMBER 14 The FINAL exam is optional and can be used to replace the test score of one of the first two exams. The final exam will cover material from the first two exams. If taken, the final exam will substitute for a score on either exam #1, exam #2, whichever is the lowest. The FINAL exam is scheduled after Midterm #3. If either exam #1 or exam #2 is missed, the student must take the optional final exam. There will be no alternative times or makeups for the first two exams other than the time listed here. If you have to miss one of these tests, the optional final will replace your test score. Important Dates Sept. 9 - last day to add a class. Oct. 4 - last day to drop a class. Nov. 24 - Thanksgiving holiday. Dec. 7 - last day of classes. LECTURE AND EXAM SCHEDULE WEEK BEGINNING AUG25 AUG30 SEPT 1 SEPT6 SEPT 8 SEPT13 SEPT 15 SEPT 20 SEPT 22 SEPT 27 OCT4 OCT6 OCT 11 OCT 13 OCT 18 OCT20 OCT25 OCT27 NOV 1 NOV8 NOV 10 NOV 15 NOV 17 NOV22 NOV29 DEC 1 DEC6 TOPIC Introduction Overview of Macroeconomics Production Possibilities Specialization and Trade Demand and Supply Equilibrium Aggregate Demand and Supply Unemployment and Inflation ASSIGNMENT Ch. 2 Ch. 3 Ch. 4 Ch. 5 Ch. 15 Ch. 6 Ch. 7 GNP-GDP Labor and Product Markets Economic Thought Consumption, Saving and Investment Ch.8 Ch. 8 Macroeconomic Equilibrium Ch. 9 Fiscal Policy Money, Banking and Prices The Federal Reserve Monetary Policy Deficits Ch. Ch. Ch. Ch. Ch. Stabilization Policy Ch. 16 Ch. 17 Ch. 18 Economic Growth International Economics 10 11 12 13 14 Ch. 19 Ch.20