Intermediate Macroeconomic Theory Economics 171 – Fall 2013

Intermediate Macroeconomic Theory
Economics 171 – Fall 2013
T/TH 1 p.m., L302 Lafayette
Instructor Information:
Professor Shirley Gedeon 337 Old Mill Bldg
[email protected] Office Hours: Wed, 10:30 – 1 p.m.
http://www.uvm.edu/~sgedeon
Required Textbooks:
Olivier Blanchard and David Johnson, Macroeconomics, 6th
edition, ISBN-13: 978-0-13-306165-9:
Eugene Diulio, Schaums Outline Series: Macroeconomics,
ISBN-13: 978-0070170537
Thomas Palley, From Financial Crisis to Stagnation, Cambridge
University Press 2013
A copy of Blanchard/Johnson and the Study Guide that Accompanies
this textbook (Study Guide not required for this course, but helpful
for studying for exams) are available on 2-hour reserve at BaileyHowe.
Grading and Course Policies
Course Grade:
.20 (Midterm I) + .20 (Midterm II) + .20 (Midterm III) + .20
(Midterm IV) +
.20 (Homework + in-class activities) = your average grade
Letter Grades:
90-92: A- ..........................93-96: A .......................97-100: A+
80-82: B- ...........................83-86: B .......................87-89: B+
70-72: C- ...........................73-76: C ......................77-79: C+
60-62: D- ............................63-66: D ......................67-69: D+
Course Policies:
1. Please come to office hours to say hello, to discuss material in the
class, to talk about confusing or troubling parts of the reading, to
share articles from the WSJ. I only get to know your name if I have
had a few chances to have conversations with you. Please don’t
feel shy or intimidated: I love what I do and am eager to teach.
2. You are expected to read the assignments before the posted lecture
because an in-class essay or quiz related to the material will
frequently begin the class. These activities are graded. Missed
classes for whatever reason (“approved”
sport/music/debate/fieldtrip event, illness, personal reason)
simply means that a zero will be entered for this activity. Bottom
line: either you are in class or you aren’t. No makeups.
3. Homework is due on the day assigned and will be brought to class. It
will be graded in class. If you must miss class, then the homework
must be submitted in paper form only to Prof. Gedeon or given to a
student who will attend the class before the class begins. Please
note: If the homework is not available to be graded during the class
period, then it will simply earn a grade of zero. No late
submissions for any reason.
4. Midterm Exams will be administered in the classroom. Students always
have the right to petition the grading of a midterm exam. Specific
protocol for how the petition system works will be discussed in
class. Exam adaptations for students with ACCESS-determined
disabilities will be provided on a case by case basis
5. There is no extra credit available
6. In class and in emails, address me as “Professor Gedeon”
Syllabus
Chapter assignments are from Blanchard & Johnson textbook unless otherwise noted
Class Topics
Aug 27
Aug 29-Sept 10
Sept 12-24
Sept 26
Oct 1-15
Oct 17
Oct 22
Oct 24-Nov 5
Nov 12
Nov 7 & 14
Nov. 19 - end of
semester
Day of Scheduled
Final
Chapter Name/Number
Ch 1 & 2: Review of Terms, Basic Macro Data from Principles
of Macro
Ch 3: Components of Aggregate Demand
Keynesian Cross
Spending, Tax Multipliers
Algebraic Solutions
See Diulio, Ch. 4
Ch. 4: Financial Markets
Determinants of Md
Determinants of Ms
Money multiplier
See Diulio, Ch. 12
Midterm I (Chs. 1-4)
Ch. 5: IS-LM Model
Algebraic Solution
Effectiveness of Monetary & Fiscal Policy
See Diulio, Ch. 5 & 6
Midterm II (Ch. 5)
Ch. 6: Labor Market
See Diulio, Ch. 3
Ch. 7: AS-AD Model
Algebraic Derivation from AS-AD
Policy Implications
See Diulio, Ch. 8
Midterm III (Chs. 6 & 7)
Ch. 8: Phillips Curve
Ch. 9: The Crisis of 2007-09
Palley, Chs. 1 - 4
Thomas Palley, From Financial Crisis to Stagnation
Final Midterm IV –
You may bring to class one page of notes on paper no larger
than 11" x 8 1/2".
Homework
Due 9/10 in class:
Ho mework Set I
Due 9/24 in class:
Ho mework Set II
Due 10/15 in class:
Ho mework Set III
Due 11/5 in class:
Ho mework Set IV