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PRINCIPLES OF MACROECONOMICS ECONOMICS 2020 Denise Eby Konan Economics 206 Office hours: T , R 1 0 :4 0-1 2 : 00 and by appointment Summer 1992 Hlms 252 9 : 10-10 : 40 daily T . A. : John Lovett, Economics 13 The text for this course is Macroeconomics by Ralph T . Byrnes and Gerald W. Stone, Harper Collins, Fifth edition 1992 . Copies of problem sets are available at Kinko's . Economics is not an exact science. Still it is more than an art. We cannot predict with accuracy next year's national income--just as meteorologists cannot forecast next week's weather as precisely as they can guess the day after tomorrow's . But no bank or big business would be so rash as to consult astrologers rather than trained econometricians, or try to wing it by guess and by gosh. Paul A. Samuelson, 1991. Cours e Objective The ambition of this course is to provide you with tools to understand the intri£ate workings of the domestic economy. We wi ll study the numerous important issues such as the effects and determinants of inflation and unemployment, fiscal and monetary policies, the effects of money on output and prices, the determinants of aggregate supply and demand, and international aspects of economics. Recita tions: Section R2 0 1 R202 R203 Time 7 :45-9:00am 2 : 10-3:25pm 12 : 30-2 : 00pm Grading Policy: Two One-Hour Exams Final Exam Day MW TR MW Location Econ 1 3 Econ 205 Econ 13 30% each 40 % THE FINAL EXAM IS REQUIRED . MISSING A ONE-HOUR EXAM I NCREASES THE WEIGHT OF YOUR FINAL . THERE WI LL BE NO MAKE-UP EXAMS . .. . . LECTURE ANO EXAM SCHEDULE DATE July 14-17 July 20-24 TOPIC READINGS Scarcity and choice Chap 1,2 Demand, Sl.4JPlY, & market ec,.iil ibrita Chap 3 , 4 Macroeconomics overview Chap 5 ~loyment, inflation &11easurement Chap 6,7 Classical and Keynesian economics Chap 8,9, 10 Money creation & Federal Reserve System Chap 11-12 Monetary theory Chap 13 Pl.blic deficits and dept Chap 14 Aggregate demand and Sl4)ply Chap 15 Policymaking and limitations Chap 16,17 Economic growth and development Chap 18 JULY 24 EXAM 1 July 27-31 Aug 3-7 . . _. . .. , .... AUGUST 7 EXAM 2 Aug 10-14 The international economy Chap 19,20,21 AUGUST 10 FINAL EXAM COMPREHENSIVE P. SETS