Download ECON 6080-001 Applied Macroeconomic Theory

Syllabus for Economics 6080-
--- Fall Semester 2002
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Syllabus for Economics 6080:
Applied Macro Theory
University of Colorado Boulder
Fall Semester, 2002
Thomas F. Rutherford
[email protected]
Class meetings:
Office hours:
MWF 12-12:50 in Economics Room 16
Tuesday and Friday mornings or by appointment (Econ 206a, 303 492-5169)
Course Overview
The purpose of this course is to introduce the key ideas, models and perspectives from macroeconomic theory in order to better understand
the application of theory to economic analysis. The course provides an overview of the empirical regularities and key explanatory models
which have appeared in the literature.
The course will have four components. We will begin with an an overview of the key ideas in macroeconomics as it is used today. We will
have a look at the sources and definitions of macroeconomic data, including national income accounts. We will look at how economic
models can be used to provide a theoretical structure for understanding these data.
The second section of the course will focus on economic growth and the supply side of the economy. We will look at the long-run forces
that shape the evolution of economies over time, and we will look at the factors which influence productivity advances, the underlying
source of economic growth. We will also look at how labor markets and international trade affect growth.
The third section of the course will examine the role of government policies in the macro economy. We will examine the range of public
taxation and expenditure programs which have been applied around the world, the impact of government policies on national savings and the
balance of payments. We will examine various perspectives on the theory, empirical evident and stated objectives of monetary policy.
The fourth and final section of the course will examine business cycles and associated economy policy measures. Medium-term business
cycle fluctuations are costly for society and become the focus of a large share of government policy, yet there remains considerable
controversy regarding the measures which government should undertake to stabilize business cycles.
Textbooks
The course will use two books:
1. Macroeconomics: Understanding the Wealth of Nations by David Miles and Adrew Scott, John Wiley and Sons, Inc., 2002.
2. Development Macroeconomiceconomics (2nd edition) by Pierre-Richard Agenor and Peter J. Montiel, Princeton University Press,
1999.
Reading and homework assignments from these texts will be made through the course of the term.
Requirements
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Homework assigned weekly
Midterm exam: Friday, October 21
Class presentation (30 minutes) of a published paper or manuscript, during weeks of November 4 and 11.
Term paper (15 pages) due the last day of class, December 11.
Final examination (Fri., Dec. 13, 7:30 a.m.-10:00 a.m.)
Preliminary Course Outline:
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Syllabus for Economics 6080- - · -- Fall Semester 2002
.Veek Starting
8/27
9/2
9/9
Topic
Introduction and Mechanics, Macro Data, Long-Run Equilibrium (M+S, Chapters 1-3; A+M Chapters 1-2)
Growth Models (capital accumulation and endogenous growth) (M+S, Chapters 4,5,7; A+M Chapters 17)
Growth Theory- Consumption and Investment (M+S, Chapters 13-14; A+M, Chapter 3)
9/ 16
9/23
9/30
10/7
Growth (continued)
Technical progress {M+S, Chapter 6)
Labor markets (M+S, Chapters 8; A+M, Chapter 9)
Government and fiscal policy (M+S Chapters 10-11)
10/14
Money and Prices (M+S, Chapter 12)
10/25
10/28
Midte1m Exam
Student presentations of published papers
11/4
11/ 11
11/18
Business cycles (M+S, Chapter 15; A+M Chapter 4)
Stabilization policy (M+S, Chapter 16; A+M, Chapter 5)
11/25
12/2
Monetary policy (M+S, Chapter 17)
Exchange rates and equity markets (M+S, Chapters 18-20, A+M, Chapter 6)
12/13
FINAL EXAM (7:30 a.m. - 10:00 a.m.)
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Evaluation
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Midterm examination (25%)
Homework and class participation (10%)
Class presentation (10%)
Term paper (15%)
Final exam (40%)
If you qualify for accommodations because of a disability, please submit to me a letter from Disability Services (DS) early in the semester so
that your needs may be addressed. DS determines accommodations based on documented disabilities (303-492-8671, Willard 322,
www. colorado .edu/sacs/disabili tyservices)
I will acconunodate all students who must be absent from classes or miss scheduled exams in order to observe religious holidays. provided
that I am notified well in advance of the scheduled conflict. (See http://www.colorado.edu/policies/fac_relig.html)
A revised student honor code has recently been adopted at CU and can be viewed on the CU web site. Plagiarism will not be tolerated,
particularly in student writing assignments. We will discuss in class how plagiarism is defined and how it relates to internet-based
information.
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