MACROECONOMICS +

COURSE OUTLINE 214.3 (02)

Presents formal analysis of national accounting, the consumption function, investment, public expenditure, taxes, budgets, money and interest, IS-LM analysis of general equilibrium in an open economy, aggregate supply and demand, public policy, inflation, and the rudiments of growth theory.

Instructor:         Harry Hillman Chartrand           Phone: 244-6945

Location:     214.3 (02) Arts 105                          Email: h-chartrand@shaw.ca

Class Hours:  830-10:20 M/T/W/Th/F          Website: http://members.shaw.ca/elementaleconomics

Office Hour:    by appointment                         Tutorials: to be announced  

Required Text: Froyen, R.T., Macroeconomics: Theories & Policies

                                   8th Edition, Prentice Hall, Upper Saddle River, New Jersey, 2005

Prerequisites: ECON 111, 114, and 211 or 213

Evaluation: graphic narrative with minimal mathematical expression                                                                    

3 in class tests                 @ 20% = 60%
1 Final Exam                    @ 40% = 40%                                                                                                           100%

 Progressive grading to account for improved performance.

Topics

Themes

Links

1.0 Introduction

 Ch. 1

1.1 Animal Spirits & Psychic Alchemy

1.2 Tool Box & Engine

1.3 The Task

1.4 Links:

Equations

Knowledge-Based Economy

2.0 Definition &

                   Measurement

     Ch. 2

2.1 Definitions

2.2 Measurement

2.3 The Canadian Record

Links:

Canadian Experience

Glossary

3.0 Models

Ch. 3 & 4

3.1 Classical
(a) Output & Employment

(b) Money, Prices & Interest

(c) Policy

(d) Conclusion: The Economic
      Garden of Eden

3.5 Links:

General Equilibrium

Shapiro Ch. 17

1st Mid-Term Test

Ch.1, 2, 3 & 4

to be announced

3.0 Models (cont'd)   

Ch 6-9

3.2 Keynesian

(a) Equilibrium Output

(b) Aggregate Demand

(c) Equilibrium Income

(d) Exports & Imports

(e) Money & Interest Rate

(f) LM/IS Curves

      i) Money Market

      ii) Product Market

      iii) Equilibrium

(g) AS & AD

      i. Aggregate Demand

      ii. Aggregate Supply

   (h) Shifts in ASC

   (i) Keynes v. Classics

3.5 Links:

2nd Mid-Term Test

Ch. 6-9

to be announced

Ch 10 & 12

3.3 Monetarist

(a) Quick Review

(b) Money Demand

(c) Nominal Income

(d) Policy

3.4 New Classical
      (a) Rational Expectations
      (b) Policy Implications

3rd Mid-Term Test

Ch.10 & 12

to be announced

Final 

Ch.1-4, 6-10 & 12

to be announced

Required Answer Format

A graphic narrative including concise or ‘economic’ specification of:

1. Assumptions

a) Model
b) Components (what is graphed?)
c) Coefficients (what shapes the curves)

2. Definition of Terms

3. Graphic Presentation
4. Reading the Graphs, Statement of Significance and/or Policy Implications

Plagiarism & Academic Dishonesty will not be tolerated.