Download ECON 201-200 Principles of Macroeconomics

Principles of Macroeconomics
Economics 201
Section 200
Course Outline and Reading Assignments
University of Colorado
Spring 1984
Paul Wojick
Office: Econ 317
Office hours: M 1:00-2:00
T 9:00-10:00
F 12:00-1:00
Office phone: 492-6653
Course Desciption
This course has been deve loped with the intention of introducing students to the
ideas and analysis which comprise the field of macroeconomics. In focusing on this
particular aspect of economics, we will be involved in an effort to identify the
major forces that affect the operation and performance of an economy as we attempt
to develop a basic understanding of both how an economy works and how well an
economy works. We will also concern ourselves with analysing the potential which
public policy holds for improving the performance of an economy and achieving the
national goals (such as full employment, pric e stability, economic growth and an
equitable distribution of income) that are formulated through the political process.
The thing that makes work in this field particularly interesting is that there is
still, as we will see, a lot of room for disagreement among economists on all of
these matters. Because of this, understanding the economic policy questions facing
this country and its elected officials (not to mention the usually heated debate
surrounding these questions) requires, on the most fundamental level, a clear
understanding of the nature of the questions and problems themselves, and then a
basic comprehension of the major competing points of view.
With these thoughts in mind, your goa ls for this course, if for no other reason
than the fact that these things will be expected of you, should be as follows:
Learning basic concepts such as demand, supply, GNP, consumption, investment, etc.
Understanding the sort of problems, such as unemployment and inflation to which
an economic system may be susceptible .
Understanding the manner in which basic concepts and the processes associated
with these concepts are integrated into simple models of how the economy
works.
Learning hew the models developed in class are applied to the analysis of
particular economic problems and proposed solutions to these problems.
The proposed outline of course topics and reading assignments is found below. I do,
however, reserve the right to make changes in the event that we spend more or less
than the anticipated amount of time covering a particular subject.
The assigned texts are:
Bradley R. Schiller, The Macro Economy Today, Random House,
New York, 1983.
Robert B. Carson, Macroeconomic Issues Today, St. Martin's
Press, New York, 1983
Course Outline:
Date
Topics
Jan. 25-27
Introduction
Assignment
Schiller
Ch. 1
Carson
Intro.
Jan. 30-Feb. 3
The operation of markets and determination Ch. 2
of relative prices as part of the economic
process .
Feb. 6-8
The role of government in the economy.
Ch. 3
Feb. 10-15
Quantifying the performance of an
economy . Developing the analytical
categories.
Ch. 4
Feb. 17-27
Two major macroeconomic problems:
Unemployment and inflation.
Ch. 5, 6
Feb. 29
EXAM I
March 2- 16
Dealing with major macroeconomic problems. Ch. 7,8,9
Understanding the Keynesian theoretical
system and its policy implications.
March 19-23
Understanding money and the monetary system. Ch. 10
March 26-30
Spring Break
April 2-4
The Federal Reserve System and the
supply of money.
Ch. 11
April 6-13
Dealing with major macroeconomic problems.
Understanding monetary policy, the
monetarist perspective, and the
Keynesian-Monetarist debate.
Ch. 12
April 16-20
Dealing with major macroeconomic
problems. The emergence of a new point
of view: Supply Side Economics.
Ch. 13
April 23
EXAM II
April 25
If we're so smart, why don't things work
better?
April 27
The policies of the current administration. Ch. 15
April 30-May 2
The growth of an economic system
over time .
Ch. 17
May 4-11
U.S. markets as part of a worldwide
system of markets.
Ch. 18,19
Issue 7
May 14
An alternative means of organizing
a society's productive resources .
Ch . 21
Issue 8
May 22
FINAL EXAM - Tuesday
11:30 am - 2:30 pm
Issue 5,6
Issue 3,4
Issue 1,2
Ch. 14
Grading:
Your grade in this course will be determined as follows:
1) There will be two hourly exams, each of which will count 25% of your grade. There
will be no make-up examinations of any kind given in this course. If you miss an exam,
and have a legitimate excuse, the weight of the final exam will increase proportionately.
If you miss an exam and do not see me about it, your score on the exam will be a zero.
2) Recitation will account for 15% of your grade . You will be given four short quizzes.
Only your three best scores will count toward your grade.
3) A comprehensive final examination will be given . It will count 35% of your grade if
your score on the final is equal to or lower than your average on previous work
in this class. If, however, your performance on the final is better than your previous
average and you have completed all other work in the course, your grade will be
completely determined by your score on the final.