Economics 303 Section 1
Intermediate Macroeconomics
Spring 2010
BEH 109
TTh 10 – 11:15 am
Instructor Bernard Malamud
Office: BEH 502 Phone: 895 – 3294 Fax: 895 – 1354
Office Hours: TTh 12 – 1 pm; 2:30 – 3:30 pm; and by appointment
e-mail: bernard.malamud@unlv.edu Website: www.unlv.edu/faculty/bmalamud
___________________________________________________________________________
General Nature of the Course
This course considers the determination of income, output, employment, and the price level in a market economy. The roles of fiscal and monetary policies in promoting stability and growth are examined. Prerequisite: Admission to a business major/junior standing, ECON 103. 3 credits.
________________________________________________________________
Course Objectives
The theory and facts of macroeconomics will be used and useful to you in your career as an economist. You should already be familiar with various principles of macroeconomics. You will now master and build on these principles, learn their roots in the literature of the discipline, explore the positions of contending schools of thought, examine recent evidence testing these positions, and understand the policy implications of these positions. We will regularly discuss macro-fluctuations and policy debates as they occur during the semester. Upon completion of the course, you should be able to use appropriate models—models of aggregate supply and aggregate demand, animal spirits and financial fragility, and the Solow growth model—to explain macroeconomic fluctuations and growth and to predict the impacts of monetary and fiscal policies on financial markets and the real economy. Special attention will be paid to understanding the current global slump and efforts to combat it. __________________________________________________________
Text and Supplementary Readings
-
Olivier Blanchard, Macroeconomics, 5th edition. Prentice-Hall, 2009. Earlier editions can serve as well. Access the textbook’s website at http://myphlip.pearsoncmg.com/
-
George Akerlof and Robert Shiller, Animal Spirits, Princeton U. Press, 2009
-
Hyman Minsky, John Maynard Keynes. Columbia University Press, 1975.
-
George Cooper, The Origin of Financial Crisis. Vintage, 2008.
-
Economic Report of the President www.access.gpo.gov/eop/index.html
-
The Economist http://www.economist.com
Examinations and Grading
Your grade will be based on a 40-point Principles of Macro “Final,” two 150-point classroom exams, a third 100 point classroom exam, and a 200-point comprehensive final examination. You will be able to re-do one question on each classroom exam at home; your score for that question will be the average of your classroom and take home scores.
Attendance and class participation will affect your grade.
Feb 2 Principles of Macroeconomics (103) Takehome “Final” due 40 points
Feb 11 Classroom Exam, Chapters 1 – 5 150
Mar 18 Classroom Exam, Chapters 6 – 9 150
Apr 15 Classroom Exam, Chapters 10 – 13 100
May 4 Final Examination 200
Maximum Total Points 640 points
Approximate Grade Distribution
Average Score (out of 690 points) Final Grade
90 percent Borderline A-
80 percent Borderline B-
70 percent Borderline C-
60 percent Borderline D-
Makeup Policy
Makeup exams may be arranged at mutual convenience if you have a compelling reason to miss a scheduled classroom exam. A makeup exam must be taken before the missed exam is returned to the class. There will be no makeup final exam. However, a student missing a class because of observance of a religious holiday and students who represent UNLV at any official extracurricular activity shall also have the opportunity to make up assignments. Such students must provide official written notification no less than one week prior to the missed class(es).
Class Conduct
Your instructor and classmates deserve courtesy. If you must arrive late or leave early, do so quietly. Inform me beforehand if you must leave a class early. Smoking and eating in class are prohibited. Talking to your neighbors in class, reading newspapers and magazines, and texting on a cellphone is rude, disruptive, and unacceptable. While this probably need not be said, anyone found engaging in any act of academic dishonesty will be punished in accordance with UNLV policies.
Other Information
The Disability Resource Center (DRC) coordinates all academic accommodations for students with documented disabilities. The DRC is the official office to review and house disability documentation for students, and to provide them with an official Academic Accommodation Plan to present to the faculty if an accommodation is warranted. Faculty should not provide students accommodations without being in receipt of this plan.
UNLV complies with the provisions set forth in Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, offering reasonable accommodations to qualified students with documented disabilities. If you have a documented disability that may require accommodations, you will need to contact the DRC for the coordination of services. The DRC is located in the Student Services Complex (SSC), Room 137, and the contact numbers are: VOICE (702) 895-0866, TTY (702) 895-0652, FAX (702) 895-0651. For additional information, please visit: .
Course Outline
Dates
|
Topic, Discussion Problems (End of Chapter)
Do each “discussion problem” shown in parenthesis (Chapter – Problem Number(s)) before class. Treat it like homework. While it will not be collected, you will be expected to participate in its discussion.
|
Reading
In Texts
|
Jan 12,14
Jan 19,21
Jan 26,28
Feb 2
Feb 2,4
Feb 9
Feb 11
Feb 16,18
Feb 23,25
Mar 2,4
Mar 9,11
Mar 16
Mar 18
|
Course Organization
Tour of the World: What’s Up? What’s Not? (1 – 1,6)
Tour of the Book: Macro-Talk (2 – 4,5,6,9)
Principles of Macro Redux
The Core: Short-run
The Goods Market: Z = C + I + G + X – Q
(3 – 2,3,5,6)
Problems: Chapters 1,2,3
Financial Markets: Md, Ms, i (4 – 2,6)
Problems: Chapter 4
Principles of Macroeconomics Takehome “Final” Due
Goods and Financial Markets: IS - LM
-
Policy Exercises and Dynamics (5 – 4)
Problems Chapter 5
Catch-up and Review
Classroom Examination, Chapters 1 – 5 (150 pts)
The Core: Medium-run
The Labor Market: Wages, Prices, and the “Natural Rate” (6 – 3)
Problem: Chapter 6
Putting It Together: AS – AD and Policy (7 – 3, 5,6)
Problems: Chapter 7
The Phillips Curve: Incarnations and Elaboration
(8 – 3, 5)
Problems: Chapter 8
Inflation, Activity, and Money Growth
Okun/Lucas/Volcker (9 – 3,6)
Problems: Chapter 9
Catch-up and Review
Classroom Examination, Chapters 6 – 9,22 (150 pts)
|
Chapter 1
Chapter 2
Review your Principles text
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
|
Course Outline (continued)
Dates
|
Topic, Discussion Problems (End of Chapter)
|
Reading
In Text
|
Mar 23
Mar 25
Mar 30, Apr 1
Apr 6
Apr 8
Apr 13
Apr 15
Apr 20
Apr 22
Apr 27
Apr 29
May 4
|
The Core: Long-run
The Facts of Growth
Saving, Accumulation, and Output (11 – 5,8)
Spring Recess
Technological Progress and Growth (12 – 7)
Progress, Wages, and Unemployment (13 –2)
Problem Session: Chapters 11,12,13
Classroom Examination, Chapters10 – 13 (100 pts)
Macro-Instability: Expectations/Bubbles
Inflation Expectations: Revising IS-LM (14 – 4,8)
Stock Market: Fundamentals and Bubbles
Minsky Fundamentals/Pricing Capital Assets
Cooper, Origin of Financial Crisis Minsky Lite
Theory of Investment
Financial Instability Hypothesis and Implications
Animal Spirits
Catch-up and Review
Final Examination 10:10 – 12:10 pm (200 pts)
|
Chapter 10
Chapter 11
Chapter 12
Chapter 13
Chapter 14 (pp. 291-303
Ch.15(p.322-9)
Minsky, Ch.3,4
Minsky Ch. 5
Minsky Ch 6,7
Akerlof & Shiller
|
Dostları ilə paylaş: |