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Economics 2002 Macroeconomics Course Website:www.vermontel.net/~hancockp/ |
Spring 2012 MWF 9-9:50 Terrace 121 |
Paul Hancock Office: Dunton 227 Hours: M 10-12, R 1-3 |
offered every spring semester
General: This course will provide a basic grasp of the aggregate economy as described by mainstream economics. Emphasis will be place upon national income accounts, macroeconomic models of the economy (Keynesian, Monetarist, classical, neoclassical), money and banking, and policy problems. Questions of what causes economic recessions, depressions and expansions; how can unemployment and inflation be explained and managed and what is the role of the various government institutions (the Federal Reserve, Congress, the executive branch) in managing the economy will be discussed.
Students will be expected to master the standard textbook and
have a moderate familiarity with at least some of the supplementary readings,
which challenge conventional economics. All of the supplementary readings are
on reserve in the library. It is expected that you have read the material prior
to class.
My course website is http://www.vermontel.net/~hancockp/. You will find homework assignments, exam reviews and other good information on the course webpage. Check it frequently.
Book:
Neva Goodwin, Julie A. Nelson, and Jonathan Harris, with contributions
by Brian Roach and James Devine. Macroeconomics in Context.
Other readings: In addition, you are expected to read the Financial Times or the New York Times on a daily basis and be prepared to discuss current economic events. This is part of the assigned reading and you may be held responsible for it on exams.
Supplementary Readings:
Nancy Folbre/The Center for Popular Economics, The New Field Guide to the U.S. Economy
Robert L. Heilbroner, Beyond Boom and Crash
E.K. Hunt and H. Sherman, Economics
Samuel Bowles/Richard Edwards, Understanding capitalism
Requirements:
Grading: 10% will be based on participation, 30% on homework assignments, 15% on each of two mid-terms and 30% on the cumulative final exam.
Homework: Assignments can be found on the website. They will be chosen from the problems and questions at the end of each chapter. Assignments must be handed in on the day they are due. Homework grades will be lowered a full letter grade if handed in after the class during which they are due and another letter grade for each 24 hour period thereafter.
Class participation is also required. Please purchase a package of 3x5 index cards to bring with you to class—they will be a vehicle for class attendance and participation. At the end of every class, you need to turn one in with your name, the date, a comment and/or a question.
Optional Group Presentations: Students can substitute a group presentation for one of the homework assignments. See the link to the list of presentations and their descriptions on the course web page.
Exam Policy: There are no make-up exams in this class with the exception of documented medical emergencies. Do not make plans to leave campus early for spring break or before final exams.
Readings and Assignments
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Introduction |
January 16 (M): Introduction and Mathematic diagnostic
Readings: none
Assignment: Homework #1 on website (TBA)
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Basic Economic Concepts (supply/demand, graphs, role of the government) |
January 18 (W): Macroeconomics in Context
Readings: Goodwin Ch. 1
Optional Group Presentation: #1 Graph & Math Review
January 20-23 (FM): Some Useful Tools of Analysis
Readings: Ch. 2
Exercise (If time): Double Oral Auction
January 25-27 (WF): What Economies Do
Readings: Ch. 3
Optional Group Presentation: #2 Why not a
College-owned Bookstore?
Readings: Ch. 4
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Measuring Economic Performance |
February 3-8 (FMW): Measuring Output and Unemployment
Readings:
Goodwin Ch. 5, Robert Pollin “Doing the Recovery Right” The Nation
January 30, 2009 http://www.commondreams.org/view/2009/01/30-9
Optional Group Presentation: #3 Comparative Growth Rates
Homework Assignment #1 due Wednesday February 8
February 10-13 (FM): Measuring Environmental/Social Dimensions
Readings: Ch. 6
February 15-20 (WFM): The Labor Force: Measuring
Employment, Unemployment and Composition
Reading: Ch. 7
Optional Group
Presentation: #4 Unemployment by Race, Gender
Homework Assignment #2 due at beginning of class on Monday February 20
February 22 (W) Review for Exam 1
February 24 (F):
Exam #1 (Chap. 1-7)
Reading: Ch. 8
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Theory and Policy |
March 12-16 (MWF): Aggregate Demand, the Business Cycle and the Keynesian Model
Readings: Ch. 9
Optional Group Presentation #5: The reserve army of the Unemployed.
March 19-23 (MWF): Fiscal Policy: Spending, Taxes and the Federal Budget
Readings: Ch.
10, Political Economic Research Institute Paper
Optional Presentation #6: Produce a graph of macro
variables.
March 26 (M): Review for Exam 2
Homework Assignment #3 due at beginning of class on Monday, March 26
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The Federal Reserve, the Full Macroeconomic Model and the Global Economy |
March 30-April 4 (FMW): Money, the Price Level and the Federal Reserve
Readings: Ch. 11
EASTER BREAK
April 11-18 (WFMW) Aggregate Demand, Aggregate Supply and
Inflation
Readings: Ch. 12
Optional Group Presentation #7: Relative rates of Inflation --- Health Care, College Tuition
April
20 F) Film: The Take
April 23-25 (MW): The Global Economy
Film: The Take (finish) ~ put on library reserve
Readings: Ch.
13
April 27- May 2 (FMW) Assessment and Review for Final Exam
Homework Assignment
#4:
due at beginning of class on Monday April 30.
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Final
Exam: 8 a.m. Friday May 4th |