Download Global Economy - Georgia State University

Global Economy
ECON 3900
SPRING 2006
Instructor:
telephone:
email:
Dr. Mikhail Melnik
Department of Economics
14 Marietta St, 5th floor
(404) 651-2626
[email protected]
Office Hours: T-Th. 12:20-12:55; and by appointment
Course Website: www.gsu.edu/~ecomim
Prerequisites: ECON 2105: Principles of Macroeconomics and a simple “working” knowledge
of basic algebra
Course Description: Intermediate Macroeconomics covers the theory of aggregate demand and
supply, sector demand functions (consumption, investment, money), equilibrium models,
economic growth, inflation, unemployment and expectations, cyclical fluctuations and
stabilization policies.
Course Learning Objectives: This is an intermediate level undergraduate course designed to
acquaint the student with the basic issues, concepts, and models in macroeconomics. Moreover,
the objective is understanding the real-world policy applications of these developments. At the
end of the course, the student should be well acquainted with the determinants of unemployment,
inflation, and national income in the short-run and long-run; have understanding of the various
phases of the business cycle; the relationship between unemployment, inflation and real output;
have understanding of the IS-LM and the AS-AD models.
Required Readings: Gregory Mankiw, Macroeconomics (fifth edition, 2003)
Grading: The grading will be based on your performance on two exams during the course of the
semester, each accounting for 30% of the course grade, a final exam, accounting for further 30%
of the grade. The remaining 10% of the grade will come from a number of homework
assignments.
Homework sets will be distributed one week in advance of the due date. Late homework
assignments will not be accepted.
Make-up Policy: If one of the midterm exams is missed (due to 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 missed midterm is zero.
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.
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).
Important dates: The last day to withdraw from the class and receive a W is Friday, March 3rd.
The last day of classes is Monday, May 1st (Wednesday, April 26 for Wednesday-only classes).
The final exam is scheduled based on the University’s calendar which can be accessed on the
University’s website. Spring break - Mar 6-12.
Note: The course syllabus provides a general plan for the course; deviations may be necessary
Tentative Outline
Introduction:
Chapter 1.
Chapter 2.
The Science of Macroeconomics.
The Data of Macroeconomics.
Classical Theory: The Economy in the Long Run.
Chapter 3.
National Income.
Chapter 4.
Money and Inflation.
Chapter 18. Money Supply and Demand
Chapter 6.
Unemployment.
Chapter 5.
The Open Economy.
EXAM I – tentatively, February 16th.
Business Cycle Theory: The Economy in the Short Run.
Chapter 9.
Introduction to Economic Fluctuations.
Chapter 10. Aggregate Demand I.
Chapter 11. Aggregate Demand II.
Chapter 12. Aggregate Demand in the Open Economy.
EXAM II – tentatively, April 6th.
Growth Theory: The Economy in the Very Long Run.
Chapter 7.
Economic Growth I.
Chapter 8.
Economic Growth II.
Macroeconomic Policy Debates. (Optional)
Chapter 14. Stabilization Policy.
Chapter 15. Government Debt.
Exam dates may change, in the event of a change the new date will be announced in class and
posted on the webpage.