Econ 102 – Macroeconomics Fall 2007 Syllabus Instructor: Steven W. Rick Office Hours: Tuesday and Thursday, 10:50-11:30 am, and by appointment. Office: 6418 Social Science Phone: 231-4285 Credit Union National Association 262-0235 University of Wisconsin E-Mail: [email protected] Prerequisites: Economics 101 or AAE 215. Text: R. Glenn Hubbard & Anthony Patrick O’Brien. Macroeconomics. 2006. Pearson Prentice Hall Course Description: This course addresses four areas of importance. I. The Economic Way of Thinking – Scarcity, choice and economic tools II. Markets and Government – Aggregate demand and supply, role of government, and the market process III. Core Macroeconomics – Money, the banking system, monetary policy, fiscal policy, economic growth, Phillips curve, unemployment, inflation, equilibrium IV. International Economics – International trade, comparative advantage, the international monetary system, exchange rates Discussion Sections: Every student should register for and attend the weekly discussion sections. Homework: Homework problems will be assigned from the text on a weekly basis and will be collected at the discussion sections. Homeworks will be graded on the following basis: 3 points—The homework is carefully done, and substantially correct. 2 points—A good attempt has been made to answer the questions. 1 point—A less than adequate attempt was made to answer the questions.Grading: Grading will be based on homework performance (10%), two midterm exams (25% each), and a final exam (40%). In a situation where a student’s grade is borderline, the grade will be determined by participation in class and discussion section. Following is a schedule of readings and exams for the course. DATE CHAPTER TOPIC Sept. 4 The Current Economy Sept. 6 1 Economics: Foundations and Models Sept. 11 2 Trade-offs, Comparative Advantage, and the Market System Sept. 13 2 Trade-offs, Comparative Advantage, and the Market System Sept. 18 3 Where Prices Come From: The Interaction of Demand and Supply Sept. 20 4 Economic Efficiency, Government Price Setting, and Taxes Sept. 25 5 Firms, the Stock Market, and Corporate Governance Sept. 27 6 Comparative Advantage and the Gains from International Trade Oct. 2 FIRST EXAM Oct. 4 7 GDP: Measuring Total Production and Income Oct. 9 7 GDP: Measuring Total Production and Income Oct. 11 8 Unemployment and Inflation Oct. 16 9 Economic Growth, the Financial System, and Business Cycles Oct. 18 9 Economic Growth, the Financial System, and Business Cycles Oct. 23 10 Long-Run Economic Growth: Sources and Policies Oct. 25 10 Long-Run Economic Growth: Sources and Policies Oct. 30 11 Output and Expenditure in the Short Run Nov. 1 12 Aggregate Demand and Aggregate Supply Analysis Nov. 6 12 Aggregate Demand and Aggregate Supply Analysis Nov. 8 SECOND EXAM Nov. 13 13 Money, Banks, and the Federal Reserve System Nov. 15 13 Money, Banks, and the Federal Reserve System Nov. 20 14 Monetary Policy Nov. 22 15 Fiscal Policy Nov. 27 16 Inflation, Unemployment, and the Federal Reserve Policy Dec. 29 16 Inflation, Unemployment, and the Federal Reserve Policy Dec. 4 17 Macroeconomics in an Open Economy Dec. 6 17 Macroeconomics in an Open Economy Dec. 11 18 The International Financial System Dec. 13 18 The International Financial System Dec. 16 FINAL EXAM (7:45
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