|
Prof.
Dr. Peter Schmidt 28 July 2011 |
Principles
of MACRO Economics / Economic Policy ECN 222 |
|
No |
Day | Book
Chapter |
Topics | Further
material |
1 |
Wed 29 June | (Mankiw chap. 1) |
Introduction
and “10 Principles of Economics” |
-
Welcome.ppt |
2 |
Thu 30 | (Mankiw chap. 1) |
Introduction: Basic
problems; economic systems |
- Hierarchy
of goals in market economies - "Wall Street" (1987) @ Wikipedia; "Greed is good" speech on Youtube or a commented version with highlighted texts. |
3 |
Tue 5 July | Teams' Presentation about Mankiws "Ten Principles of Economics" PART II Concepts
and Problems in Macroeconomics |
Please use the online resources, tests and case studies on the book webpage (see above) | |
4 |
Wed 6 | 5 Introduction to Macroeconomics 6 Measuring National Output and National Income |
Debate
in the Economist about GDP as a measure of welfare. |
|
5 |
Thu 7 | 6 Measuring National Output and National Income 7 Unemployment,
Inflation, and Long-Run Growth |
||
6 |
Mon
11 |
Test 1 |
- Brief repetition
and your questions - Test 1 with 75 questions (up to chapter 7 - only rates, see above) |
results by ID numbers (available after class) |
7 |
Tue 12 (room A 123) |
(brief
review of test 1)
8 Aggregate Expenditure and Equilibrium Output |
Annenberg
Video @ learners.org: 5. John Maynard Keynes |
|
8 |
Wed 13 (room A 123 pc lab) |
8 Aggregate Expenditure and Equilibrium Output Teamwork in the pc lab (see tasks in table below) -> |
Some sources
of data and information: o U.S. Department of Commerce: www.commerce.gov o Bureau of Economic Analysis: www.bea.gov o Bureau of Labor Statistics: www.bls.gov o Federal Reserve System: www.federalreserve.gov o The World Factbook (CIA): www.cia.gov/library/publications/the-world-factbook o For data on Europe, visit europa.eu (European Union home page) and o the European Central Bank home page on www.ecb.int. o International sources include the International Monetary Fund www.imf.org and the World Bank www.worldbank.org |
|
9 |
Thu 14 (room A 123) |
9 The
Government and Fiscal Policy |
+ Short presentations of the results of yesterdays teamworks | |
10 |
Mon
18 back in room A 110 |
9 The
Government and Fiscal Policy |
Annenberg
Video @ learners.org: 5. John Maynard Keynes |
|
11 |
Tue 19 | Final
discussion of: |
(some exercises in class: Class_exercises_chapters_7and9.doc and answers to index/inflation questions in Class_exercises_chapters_7and9.xlsx) |
|
12 |
Wed 20 | Test 2 |
- Brief repetition
and your questions - Test 2 with 75 questions (chapters 7(rest) -9) |
- Results_test2.pdf - aggregate results after tests 1 and 2.pdf |
13 |
Thu 21 | 10 The
Money Supply and the Federal Reserve System |
- Federal
Reserve Bank (Monetary
Policy -> Policy Tools) for example: FOMC: Press Conference on June 22, 2011, and brochure "The Federal Reserve System: Purposes and Functions" |
|
14 |
Mon 25 | 10 The
Money Supply and the Federal Reserve System |
+ Material
about monetary policy (Mankiw, Macroeconomics) |
|
15 |
Tue 26 | 10 The
Money Supply and the Federal Reserve System 11 Money
Demand and the Equilibrium Interest Rate |
Overview (blackboard): Money Market; Money Demand in (Neo-) Classic / Monetarist View |
|
16 |
Wed 27 | 11 Money
Demand and the Equilibrium Interest Rate 12 Aggregate
Demand in the Goods and Money Markets |
- Federal Reserve Bank (Monetary Policy -> Policy Tools) | |
17 |
Thu 28 | 12 Aggregate
Demand in the Goods and Money Markets
Contemporary Monetary Policy: Fed vs. ECB
Summary
and YOUR QUESTIONS !!! |
- Federal
Reserve Bank (Monetary
Policy -> Policy Tools) Study
Abroad! |
|
(outlook to pick single topics of interest do discuss) | 13 19/20 |
13 Aggregate Supply and the Equilibrium Price Level 15 Financial Crises, Stabilization, and Deficits PART V The
World Economy (Outlook) (19 International
Trade, Comparative Advantage, and Protectionism) 20 Open-Economy
Macroeconomics: |
alternatively:
Limits to Growth: Wiki: First edition (1972), 2004 Limits to Growth: The 30-Year Update, webpage - all by Dennis Meadows and others - Dennis Meadows at the Population Institute (video part 1) - Dennis Meadows at the Population Institute (video part 2 - start at 5.50) |
|
(Ex) |
Friday
29 2pm - 5 pm |
Test 3 |
Final Test with 75 questions (chapters 10 and 11 plus additional topics discussed in class, esp. 12.1 (investment demand) and general terms about the links between goods and money markets / fiscal and monetary policy) | please check UNCW website |
TEAMwork:
(most of the teamwork will be assigned homework but some might take place
in class).
Team: Date: |
(All
students) |
1 |
2 |
3 |
4 |
5 |
6 |
NAMES
of |
team members: | Kasey Rouse Thomas O'Connor Peter Thimios Jekelyn Huber Chris Allen Nicholas Humann |
Amy Hallstrom Jose Nunez Adam Smith Pamela Bittner Alyssa Bearden Danielle Conway |
Risa Moore Stephen Schaefer Kevin Petersen Kyle Hamblin Marcus Varsano Anthony Dawkins |
Chris Ward Culen Wilson Kristen Pascoe David Harris Brian Graham |
Frank Wolfgram Daytona Bordeaux Kaleigh Register Tyler McPherson Kenny Rich |
Lauren Keifer Ashley Smith Jared Bryant Lisa Elkan Wayne Merrit |
Wed 29 June | no tasks, Mankiws "Principles" in class: |
1-2 |
3-4 |
5-6 |
7-8 |
9-10 |
|
Tue 5 July | Mankiw:
"Problems and Applications" |
14
(+1 ex. for 17) |
13
(+1 ex. for 17) |
12
(+1 ex. for 17) |
8
(+1 ex. for 17) |
3
(+1 ex. for 17) |
1
(+1 ex. for 17) |
Wed 13 July | Teamwork in PC
lab: |
For
5 US states of your choice, find: - GDP - National (disposable) Income - (private final) Consumption |
For
5 US states of your choice, find: - GDP - National (disposable) Income - (private final) Consumption |
For
5 US states of your choice, find: - GDP - National (disposable) Income - (private final) Consumption |
For
5 US states of your choice, find: - GDP - National (disposable) Income - (private final) Consumption |
For
5 US states of your choice, find: - GDP - National (disposable) Income - (private final) Consumption |
For
5 US states of your choice, find: - GDP - National (disposable) Income - (private final) Consumption |
Wed 13 July | Find the 10 … countries of the world: |
biggest area | biggest population | biggest GDP | biggest GDP/capita | smallest GDP | smallest GDP/capita |
Wed 13 July | Consumption
Function: Perform a regression analysis of the Consumption function |
USA |
Germany |
Japan |
China |
Russia |
Mexico |
Further links:
Data Sources: