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UW-Madison ECON 102 - Econ 102 Syllabus

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Econ 102 – Macroeconomics Spring 2008 Syllabus Instructor: Steven W. Rick Office Hours: Tuesday and Thursday, 11:00-11:45 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. 2nd Edition. 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 Jan. 22 The Current Economy Jan. 24 1 Economics: Foundations and Models Jan. 29 2 Trade-offs, Comparative Advantage, and the Market System Jan. 31 2 Trade-offs, Comparative Advantage, and the Market System Feb. 5 3 Where Prices Come From: The Interaction of Demand and Supply Feb. 7 4 Economic Efficiency, Government Price Setting, and Taxes Feb. 12 5 Firms, the Stock Market, and Corporate Governance Feb. 14 6 Comparative Advantage and the Gains from International Trade Feb. 19 FIRST EXAM Feb. 21 7 GDP: Measuring Total Production and Income Feb. 26 7 GDP: Measuring Total Production and Income Feb. 28 8 Unemployment and Inflation Mar. 4 9 Economic Growth, the Financial System, and Business Cycles Mar. 6 9 Economic Growth, the Financial System, and Business Cycles Mar. 11 10 Long-Run Economic Growth: Sources and Policies Mar. 13 10 Long-Run Economic Growth: Sources and Policies Mar. 25 11 Output and Expenditure in the Short Run Mar. 27 12 Aggregate Demand and Aggregate Supply Analysis April 1 12 Aggregate Demand and Aggregate Supply Analysis April 3 SECOND EXAM April 8 13 Money, Banks, and the Federal Reserve System April 10 13 Money, Banks, and the Federal Reserve System April 15 14 Monetary Policy April 17 15 Fiscal Policy April 22 16 Inflation, Unemployment, and the Federal Reserve Policy April 24 16 Inflation, Unemployment, and the Federal Reserve Policy April 29 17 Macroeconomics in an Open Economy May 1 17 Macroeconomics in an Open Economy May 6 18 The International Financial System May 8 18 The International Financial System May 14 FINAL EXAM (7:45


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UW-Madison ECON 102 - Econ 102 Syllabus

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