Download Intermediate Macroeconomic Theory – Spring 2011 Economics 171

Intermediate Macroeconomic Theory
Economics 171 – Spring 2011
Dr. Shirley J. Gedeon
Rm. 337 Old Mill Bldg.
Office Hours: Wednesdays:
1:30 – 3:30 p.m.
Phone: 656-0188
[email protected]
Texts Available for Purchase:
 Robert Gordon, Macroeconomics, 11th ed.
(Copy on Reserve at Bailey-Howe)
 Study Guide to Accompany Macroeconomics
 Raghuram Rajan, Fault Lines, 2010
Recommended: One loose-leaf, 3-ring binder to keep homework/handouts and class
notes in order
Course Objectives:
The objective of this course is to give students a more sophisticated understanding of
the topics introduced in Economics 11 and to increase the extent of their knowledge of
the macro economy. It seeks to develop conceptual tools and uses those tools to
analyze current events and policy questions.
Course Grading:
Course Grade = Midterm I (25%); Midterm II (30%); Midterm III (25%); Homework (15%)
+ Rajan Essay (5%)
 Homework is due when noted on the syllabus. It must be submitted in class on the
day assigned because it will be graded in class.
 If not submitted in class (or prior to class if you have an excused absence) it will
be docked 20 points for each day late.
Students will occasionally present explanations of textbook graphs or answer end-ofchapter questions to the class. PowerPoints of each textbook graph are provided on
Blackboard. Student groups assignments can be found on Blackboard under “Syllabus”
Class Attendance
Students are required to attend every class, remain alert, and participate in lectures
Week I:
1/18
Introduction
Homework: Read Gordon Ch. 1 (Book is on
reserve if you don’t already own it)
Prepare Class Presentation for Thursday,
1/20
1/20
Ch. 1: What is Macroeconomics?
 Group A: Explain Figures 1.6 - 1.9
 Group B: Answer Question 6 on p. 23
 Group C: Answer Question 10 on p. 23
 Group D: Answer Problem 1 on p. 23
 Group E: Answer Problem 2 on p. 23
Week II:
Ch. 2: Techniques for Measuring GDP, Inflation, Unemployment
1/25 & 27
Week III:
2/1 & 3
Week IV:
2/8 & 10
Week V:
Homework: Answer Textbook PROBLEMS 1, 2, 3, 5, 6 on p. 49
Bring to class on 1/27
Ch. 3: Simple Keynesian Model
Read Ch. 3 and Complete Study Guide for your own review
Derivation of IS Curve
Homework: Bring to class on 2/10 answers to PROBLEMS 3, 4, 5,
6 on p. 87 and 88. This homework will only be accepted in class on
this date.
Ch. 4: Derivation of the LM Curve and Fiscal/Monetary Policy
Debate
2/15 & 17
Week VI:
2/22
Ch. 4: Policy Applications of the IS/LM Model
Finish Ch. 4 and appendix
Homework: Bring to class on 2/22 answers to QUESTIONS 2-6
and PROBLEMS 4-6
2/24
MIDTERM EXAM: Chs. 1-4
Week VII:
3/1 & 3
Ch. 5: Government Budget, Foreign Borrowing, and Twin Deficits
Read Ch. 5
Student Group Presentations (to be announced)
SPRING BREAK: MARCH 6 - 11
Week VIII:
Ch. 5: Balance of Payments and the US Net International
Investment Position
3/15
Complete Study Guide for your own review
3/17
Homework: Bring to class on 3/17 answers to PROBLEMS 1-4 on
p. 159. This homework will only be accepted in class on this date.
Week IX & X:
3/22 - 31
Week XI:
Ch. 7: Keynes and the Classics: Aggregate Demand & Supply
Homework: Bring to class on 3/31 answers to PROBLEMS 1-4 on
pps. 230-31. This homework will only be accepted in class on this
date.
Review Week
4/5
Review for Exam
4/7
MIDTERM II (Chs. 5 & 7)
Week XII &
XIII
4/12 – 21
Ch. 8 (and appendix) & 9: Inflation, Expectations Theory, Phillips
Curve and Stabilization Policy
Use Study Guide for your own review
4/23
Week IX
MIDTERM III (Chs. 8 & 9)
4/25 – 5/3
Raghuram Rajan, Fault Lines, 2010
Economics Department Assessment Test
Student Group Presentations (to be assigned)
Homework: Essay on assigned topic due on the day of the final
exam. Submitted through Homework Drop Box.
Name your file: LASTNAME_Rajan.doc