Economics 104 Fred Moseley

PRINCIPLES OF MACROECONOMICS Skinner 121

Fall 1998 Office hours: MWF 10-11

TEXTBOOKS:

Case and Fair, Principles of Macroeconomics (referred to below as CF)

New York Times

Beveridge, Study Guide to Case and Fair (optional)

My envy goes out to the student, setting out to explore the exciting world of economics for the first time. This is a thrill which, alas, you can experience only once in your life. To you who are about to begin, may I only say bon voyage!

Paul Samuelson

The main reason to study economics is not to be fooled by economists.

Joan Robinson

 

READING ASSIGNMENTS

Date Topic Assignment

INTRODUCTION

Sept. 11, 14 Introduction to Macroeconomics CF, Chs. 1, 6, 8

Sept. 16, 18 Measuring the national income and product CF, Ch. 7

THE COMMODITY MARKET

Sept. 21, 23, Consumption, investment, equilibrium output CF, Ch. 9

25, 28 and the multiplier effect CF, Ch. 1, Appendix

Sept. 30, Oct. 2, 5 Fiscal policy CF, Ch. 10

Oct. 7 Review

Oct. 8-9 FIRST MIDTERM EXAM (self-scheduled)

THE MONEY MARKET

Oct. 14, 16, 19 Money supply and the Federal Reserve Board CF, Ch. 11

Oct. 21, 23, 26 Money demand, interest rates, and monetary CF, Ch. 12

policy

Oct. 28, 30 Fiscal policy and monetary policy reconsidered CF, Ch. 13

Nov. 2

Nov. 4 Review

Nov. 5-6 SECOND MIDTERM EXAM (self-scheduled)

AGGREGATE DEMAND AND SUPPLY

Nov. 9, 11, 13 Aggregate demand, aggregate supply, and CF, Ch. 14

equilibrium output and the price level

Nov. 16, 18, 20 The labor market, unemployment, and CF, Ch. 15

inflation

Nov. 23 Further analysis of fiscal and monetary policy CF, Ch. 16

INTERNATIONAL ECONOMICS

Nov. 30 Balance of payments, exchange rates, CF, Ch. 22

Dec. 2, 4, 7, 9 and open economy macroeconomics

Dec. 11, 14 PAPER PRESENTATIONS