Download Principles of Microeconomics

Principles of Macroeconomics
ECON 2105
Summer 2009
Instructor:
telephone:
email:
Office Hours:
Website:
Dr. Mikhail Melnik
Department of Economics
14 Marietta St, 1th floor
(404) 413-0142
[email protected]
TBA
www.gsu.edu/~ecomim
Prerequisites: Math 1111
Catalog Description: ECON 2105 analyzes the overall performances of economic systems
including output and employment levels, inflation, economic growth, international finance, and
the effects of monetary and fiscal policies.
Course Objective: The goal of ECON 2105 is to develop a framework which the student may
use to analyze the overall behavior of a modern mixed capitalist economy and its international
interactions. This framework introduces the student to the economic way of thinking about the
macro-level forces at work in society which shape economic performance and guide economic
policy.
Learning Objectives: The student should be able to:
1. Understand and describe the concepts and measurement of gross domestic
product, unemployment, and inflation.
2. Understand and describe the difference between business cycles and
economic growth and the factors that contribute to each.
3. Understand and describe the concept of Macroeconomic Equilibrium.
4. Understand and describe how Aggregate Demand and Aggregate Supply
determine equilibrium price and output in the short-run and long-run.
5. Understand and describe the multiplier concept, how it is computed, and
its qualifications and limitations.
6. Understand and describe the concepts, tools, and implementation of fiscal
policy, its limitations and relative advantages and disadvantages, and how
it affects aggregate economic activity.
7. Understand and describe the concepts, tools, and implementation of
monetary policy, its limitations and relative advantages and disadvantages,
and how it affects aggregate economics activity.
8. Understand and describe the essential differences that separate and
distinguish the Classical and Keynesian Schools in macroeconomics.
9. Understand and describe the arguments pro and con for a policy of laissez-faire
versus government activism in the management of macroeconomic
policies.
10. Understand and describe the concepts of Comparative Advantage, balance of payments and
its components, and the determinants of exchange rates.
Text and Other Materials Required: Economics by Paul Krugman and Robin Wells, Worth
Publishers
Grading: The grading will be based on your performance on two midterm exams, each
accounting for 30% of the course grade, and a comprehensive final exam, accounting for further
40% of the grade.
Make-up Policy: If one of the midterm exams is missed (because of a valid and documented
reason) the final exam will assume the weight of the missed midterm. If two midterms are missed
then the weight of the second midterm is zero.
Academic Honesty: Plagiarism and other forms of cheating on any assignment will automatically
result in zero score for that assignment and can be further pursued through the university channels
as listed in the Policy on Academic Honesty (Section 409).
Attendance: Attendance is required by the University. University policy states that all
instructors must, on a date after the midpoint of the course (to be set by the Provost),
1. Give a WF to all those students who are on their rolls, but no longer taking the class; and
2. Report the last day the student attended or turned in an assignment
If you choose to quit attending this course or choose to discontinue this course, it is your
responsibility as a student to officially withdraw from this course.
Important dates: July 1, midpoint of the semester, last day to withdraw. July 27, classes end.
Note: The course syllabus provides a general plan for the course; deviations may be necessary
Tentative Course Outline:
(subject to change)
Section
Introduction
Markets
Evaluating Economics Activity
Long - Run
AD - AS
Fiscal Policy
Monetary Side
Open Economy
Chapters
1, 2
3, 4
23, 24, 32
25
27
29
30, 31
35
Exam I is tentatively scheduled for June 25
Exam II is tentatively scheduled for July 14