Economics 104
PRINCIPLES OF MACROECONOMICS
Spring 2004

Fred Moseley
Skinner 121
Office Hours WThF:11-1

TEXTBOOKS:

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

"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

INTRODUCTION

1/30: Introduction to Macroeconomics CF, Chs. 1, 5, 7

2/2 - 2/6: Measuring the national income and product CF, Ch. 6

THE COMMODITY MARKET

2/9 - 2/20: Equilibrium output and the multiplier effect CF, Ch. 8
CF, Ch. 1, Appendix

2/23 - 2/27: Fiscal policy CF, Ch. 9

3/1 FIRST MIDTERM EXAM

THE MONEY MARKET

3/3 - 3/8 Money supply and the Federal Reserve Board CF, Ch. 10

3/10 - 3/22 Money demand, interest rates, and monetary policy CF, Ch. 11

3/24 - 3/26 Fiscal policy and monetary policy reconsidered CF, Ch. 12

3/29 SECOND MIDTERM EXAM

INTERNATIONAL ECONOMICS

3/31 - 4/9 Balance of payments, exchange rates, CF, Ch. 20
and open economy macroeconomics

INFLATION

4/12 - 4/16 Theories of inflation CF, Chapter 13

CLASSICAL THEORY OF UNEMPLOYMENT

4/19 - 4/23 The labor market and unemployment CF, Ch. 14

4/26 - 4/30 PAPER PRESENTATIONS

5/3 CONCLUSION