Download ECON 3080-200 Intermediate Macroeconomic Theory

ECONOMICS 3080 - 200
Intermediate Macroeconomics
Summer 2001
Instructor: J. Ulyses Balderas
Lecture: MTWRF 11 :00 - 12:30 pm in ECON 13
Office: ECON 414
Phone: 303-492-7614
E-mail: [email protected]
Office hours: TR 12:45 pm - 2:00 pm; and by appointment
COURSE DESCRIPTION:
Economics studies how people and institutions make decisions when confronted with
multiple choices. Economics is divided into two fields: Microeconomics and
Macroeconomics. Microeconomics studies the behavior of individuals and organizations
(consumers, firms) at a disaggregated level; while macroeconomics studies the overall or
aggregate behavior of the economy. Since our concern in this course is with
macroeconomics, we seek to explain phenomena such as economic growth, inflation, and
unemployment, and we are not concerned with, say, the demand for or the supply of
coffee.
Topics will include the following:
• Introduction - science and data of macroeconomics.
• The economy in the long run - national income, economic growth, unemployment, and
inflation.
• The economy in the short run - economic fluctuations, aggregate demand and aggregate
supply.
• Policy Debates - stabilization policy and government debt and budget deficits.
• Microeconomics behind macroeconomics - consumption, investment, money supply
and money demand, and economic fluctuations.
PREREQUISITES
The prerequisites for this class are ECON 1000 or ECON 2010; and either ECON 10781088 or MATH 1300, or equivalent. Even though this is not a math class, I expect some
knowledge on calculus and algebra.
TEXTBOOK:
There is one required textbook: Gregory Mankiw, Macroeconomics - Fourth Edition,
Harcourt Publishers, 2000. A computer exercise is going to be assigned from Macrobytes
4.0. This is accessible at the website www.worthpublishers.com/mankiw.
GRADING:
The following criteria will be used to assign your grades,
1. Homeworks (15 % ). There will be 3 homeworks (one for each exam), each
accounting for 5% of your total grade. Each homework will be due the day before
the exam. You are responsible for organizing yourselves into groups of four to
work on and submit the homework.
2. Two midterm exams (40%). Exam 1 is scheduled for Friday July 20th. Exam 2
is scheduled for Tuesday, July 31st. The exams will take place in the regular
classroom, during regular class hours.
3. A final exam (35%). This is a mandatory and comprehensive exam scheduled for
Friday, August 10th.
4. A computer simulation (10% ): The Presidential Game, in Macrobytes 4.0. Your
report has to be written according to the following criteria:
a. Explain the reasons for important policy choices and their consequences,
in four pages or less.
b. Print last page (standings).
c. Record an d present th e f ollowmg tabl e,
2009
2006
2007
2008
2005
2010
...
LlM
T/Y
G/Y
u
7[
deltaY/Y
d. Due on August 10.
There will be no make-up exams and no homeworks accepted after the deadline. To miss
the midterm, you must have a note from some acceptable authority figure explaining your
absence. Without an acceptable excuse, missed midterms will be given a failing grade. If
you have an acceptable excuse, I will give extra weight to the final examination. You
cannot miss the final examination. If you miss the final, you fail the course.
It is especially important that an atmosphere which facilitates the maximum opportunity
for learning be present at all times. Although attendance is an expectation for all students,
it is not a requirement for lecture. Course material not in the textbook will be presented
so attending lecture is both helpful in getting a good grade and maximizing your learning
experience. It is expected that all students present on a given day be attentive, polite and
not a source of distraction to the instructor or any other student. Questions and comments,
of course, are always encouraged! Every effort will be made to make the classroom
experience both productive and enjoyable for all.
SOME TIPS:
Read the assigned chapters in advance for lectures. Do not completely rely on the book. I
will cover some materials from outside sources. Take class notes thoroughly. Your notes
will be your only reference in these cases.
The Economics Department will make reasonable accommodations for persons with
documented disabilities. Students must notify their instructors no later than the end of the
first week of term, and provide documentation of the disability obtained from the
Disabilities Services office located in Willard Hall, Room 322.
Tentative Course Schedule
Date
7/10
7/11
7/12
7/13
7/16
7/17
7/18
7119
7/20
7/23
7/24
7/25
7/26
727
7130
7/31
8/1
8/2
8/3
8/6
8/7
8/8
8/9
8/10
Day
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F
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T
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R
F
M
T
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F
M
T
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Chapter
1&2
3
4
5
6
7
8
1-8
1-8
9
10
11
12
13
9-13
9-13
14
15
16
17
18
19
1-19
1-19
Topic
Science and Data of Macroeconomics
National Income
Economic Growth I
Economic Growth II
Unemployment
Money & Inflation
Open Economy
Review for Exam 1 (HWl due)
Examl
Economic Fluctuations
Aggregate Demand I
Aggregate Demand II
Aggregate Demand in the Open Economy
Aggregate Supply
Review for Exam 2 (HW2 due)
Exam2
Stabilization Policy
Government Debt and Budget Deficit
Consumption
Investment
Money Supply and Money Demand
Advances in Macroeconomic Theory
Review for Final Examination (HW3 due)
Final Examination