Economics

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Economics 112 – Principles of Macroeconomics

Spring 2008

Tues/Thurs 9:40-11:00, NULH

 

 

 

Textbook and Course Materials

Joseph Stiglitz and Carl Walsh, Principles of Macroeconomics, 4th Edition

SmartWork, a web-based homework system

 

General Description: This course will  familiarize students with the theoretical tools to analyze the macroeconomy.  Once the basic tools of economic analysis are covered, considerable time will be spent on the issues of unemployment, inflation, deficits, stabilization, government policy, and economic growth.  This course also focuses on current macroeconomic issues being debated at the local, state, or national level.  We will spend class time discussing and analyzing material from the textbooks, newspapers, and other sources. It is also helpful to keep up with current economic events as reported in magazines (Newsweek, the Economist, Business Week, etc...) or newspapers (the New York Times, Wall Street Journal, etc..).  As you all know, courses are dull when no one other than the instructor has read the material and has anything to contribute. Please read all materials before class and come ready to participate.

 

Homework and Quizzes: Several problem sets, which have material similar to exams, will be handed out.  These problem sets will not be graded, but doing well on the exams will be difficult without completing them.  There may be occasional, unannounced quizzes.

 

SmartWork: Practice and graded homework assignments are found on the Smartwork website (www.norton.saplingsystems.com).  Please see separate sheet for details.

 

Email List: Each student at UM is automatically assigned an email address in the following format: firstname.lastname@umontana.edu.  I will use these email addresses regularly to send out current events readings, make class announcements, provide homework answers and for others things as needs arise.  Once the course is underway, you will receive emailed news articles most weeks.  We will discuss them in class, and you are responsible for understanding them for quizzes and exams.

Exams:  There will be two midterm exams and one final exam.  All will be a mix of short answer and essay questions and problems.  The final exam is comprehensive but emphasizes material from the last third of the course.  Except for documented emergencies or University excused absences, make-up exams are not given. 

 

 

 

 

Grading:

 

Two Midterm Exams	50 percent
Final Exam	30 percent
Smartwork, Quizzes and Homework	20 percent

 

Miscellaneous Stuff: If you have any disability that might affect your performance in this course, if you are just learning English, please see me early in the quarter so we can minimize any particular difficulties you might have.

 

Very tentative class schedule: this schedule is subject to change due to time constraints, class interests, etc.

 

	Topic	Reading
Week 1: Starting 1/21	Class structure, grading, etc.	Chapters 1 and 2
Week 2: Starting 1/28	Micro concepts review Macro measurements I	Chapters 2 and 3
Week 3: Starting 2/4	Macro measurements II	Chapter 4
Week 4: Starting 2/11	Macro measurements III The full employment Model Feb. 11 – Last day to drop and get a refund, or switch to audit	Chapters 5 and 6
Week 5: Starting 2/18	Full employment II	Chapters 6 and 7
Week 6: Starting 2/25	Exam Review First Midterm Exam (February, April 28th) Chapters 1-7, current events and discussion
Week 7: Starting 3/3	Trade and the open economy Money and the Fed I March 4 - Last day to drop or change grading option	Chapters 8 and 10
Week 8: Starting 3/10	Money and the Fed II	Chapter 10
Week 9: Starting 3/17	Recessions and Booms	Chapters 11 and 12
Week 10: Starting 3/24	Spring Break
Week 11: Starting 3/31	Recessions and Booms II	Chapters 12 and 13
Week 12: Starting 4/7	Second Midterm Exam (Thursday, April 10th) Chapters 8, 9-13, readings and discussion
Week 13: Starting 4/14	The Fed and Monetary Policy	Chapter 14
Week 14: Starting 4/21	Inflation and Unemployment	Chapter 15
Week 15: Starting 4/28	Policy and Controversy	Chapters 20 and 21
Week 16: Starting 5/5	Final Exam Thursday, May 8th 8:00 - 10:00