Download ECON 102 – MACROECONOMICS

ECON 102.04 – MACROECONOMICS
FALL 2006 SYLLABUS
Instructor: Serkan Yüksel
Office Hours: Mon 15:40-16:30, Wed 13.30-15.30 and by appointment
Office: MA 220
Home Page: http://www.bilkent.edu.tr/~yuksels/
E-Mail: [email protected]
Phone: 290 2346
Text Book(s):
Hubbard, R. O’Brien, Economics, Prentice Hall, 2006 (Required)
Baumol and Blinder, Economics: Principles and Policy, 9th Edition, Thompson
and South-Western, 2005 (Recommended)
N. Gregory Mankiw, Principles of Economics, second edition, Dryden Press,
1998. (Recommended)
D. Begg, S.Fischer, R. Dornbush, Economics, Fifth Edition, McGraw-Hill Press
R. G. Lipsey, and K. A. Chrystal, Principles of Economics, Oxford Press.
R. G. Lipsey, and K. A. Chrystal, Positive Economics, Oxford Press.
Other Materials: Lecture handouts
Course Description:
As an introductory course in economics, this course is designed to
develop a fundamental understanding of the principles of macroeconomics.
Concepts such as “Supply and Demand,” “Business Cycles” and “Government
Economic Policy” will be examined in order to provide a comprehensive
background in macroeconomics. The ability to discern and administer
appropriate economic concepts to real world events is the key to understand
many political and social aspects of international relationships. This course has
key link to understand global world economy and economic relations.
Mathematics and analytical tools will be used sparingly in this course, but I do
want you to become comfortable doing simple calculation with real economic
data. If you need background information for analytical tools it would be your
benefit to let me know.
Course Objectives:
By the end of the semester, students will be able to:
1. Recognize basic concepts of economics.
2. Explain how concepts of economics affect the world's current economic
climate.
3. Formulate informed economic strategies to analyze real world
problems.
4. Demonstrate and understanding of basic theories and their application
methods in real world
5. Demonstrate and focus on real world applications of theories with their
policy implications
6. Demonstrate the recent global economic crisis and related issues on
international finance
Course Schedule:
Week 1: The Economics: Why do we need economics? Purpose of this course.
The Realm of Economics: What is Macroeconomics, GDP, Aggregation,
Chapter 19.
Week 2: The Goal of Macroeconomic Policy: Growth, Unemployment,
Inflation, Chapter 20.
Week 3: Economic Growth and History of Economic Growth: Pillars of
Growth, Growth Policy, Saving-Investment. Chapters 21, 22
Week 4: Demand Side Equilibrium: Aggregate Demand, Components of AD,
Equilibrium, Chapter 23
Week 5: Supply Side Equilibrium: Aggregate Supply, Supply Shocks, AS,
Chapter 24
Week 6: Fiscal Policy: Multiplier, Tax Policy, AD-AS equilibrium.
Week 7: Ramadan Holiday: No Classes
Week 8: Monetary System: Money and Banking, Chapter 25.
Week 9: Monetary Policy: Tools of Monetary Policy, Keynesian Model,
Chapter 26.
Week 10: Fiscal Policy, Chapter 27.
Week 11: Debate over Policy
Week 12: Philips Curve: Inflation and Unemployment, Chapter 28.
Week 13: International Trade: Trade Policies, Chapters 29, 30.
Week 14: Trade and Monetary System: Open Economy, Chapter 30.
Lecture Etiquette:
Students are encouraged to pose questions and make comments in lecture,
raising their hands to do so, when appropriate. Because this lecture is a large
one, however, out of consideration for your fellow students please do not talk to
other students during lecture.
Announcements:
It may become necessary to amend this syllabus during the course of the
semester. Amendments will be announced in class and posted under the
announcements section of the webpage. Students are responsible for knowing all
amendments.
Course Assessment:
There will be homeworks every week. Students are allowed to work
together on homework assignments but each student must hand in an individual
assignment; if not, obligatory action will be held. Pop-up quizzes will be given
during the lecture. Attendance has partial effect on class participation.
The final grade for the course will be calculated as follows:
Final Exam: 30 %, Midterm Exam1 20 %, Midterm Exam2 20 %, Quizzes 5 %,
Homework 20 %, Class Participation 5 %