Macro Study Questions Go to Course Calendar (currently being revised)


Introduction to Macroeconomics
Economics 104
Fall 2012
Monday, Wednesday, & Friday 10:00 - 10:50 a.m.
Meets in Skinner 216
Office Hrs: TH 9-11AM

Dr. Satya J. Gabriel
Professor of Economics and Finance
e-mail: sgabriel@mtholyoke.edu
FAX: 413-538-2323

The severe economic crisis that erupted in 2007 and deepened in 2008 came close to pushing the U.S. and global economies into another great depression like the world has not seen since the 1930s. The frantic application of ameliorative macroeconomic policies by central governments, and particularly central banks, may have been the only actions of sufficient economic clout to short-circuit the economic collapse. This course provides students with the fundamental concepts and logic of macroeconomics and uses these concepts and logic to understand macroeconomic policies and consequences.

This course is designed to provide students with the preparation for intermediate level economics courses, particularly the intermediate macroeconomics course.


  • Text
  • Principles of Macroeconomics by Libby Rittenberg and Timothy Tregarthen (henceforth referred to as R & T). NOTE: This text is only available at Flat World Knowledge (click on text title for link) and may be viewed online for free.
  • Microfinance: The Way of Grassroots Finance by Gabriel, Hinckley, and Jawaid, Wingate Books, 2009 (henceforth referred to as GHJ).
  • Grading policy
  • Course grades will be based on weekly quizzes (on Fridays) constituting 80% of the course grade, and a final examination constituting 20% of the course grade.

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    Course calendar

    Neoclassical Theory & Neoliberal Policies
    Sept. 5-7 Course Introduction: R & T chapters 1 & 2 and GHJ, pps. 1-48.
    Sept. 10-12 Supply & Demand: R & T, Chapters 3 & 4
    Sept. 14-17 Macroeconomics: The Big Picture: R & T, Ch. 5

    Sept. 19-21 Measuring Total Output and Income: R & T, Ch. 6

    2010 Gross Domestic Product Comparison by Nation-states
    Sept. 24-28 Aggregate Demand and Aggregate Supply: R & T, Ch. 7
    Oct. 1-5 Economic Growth: R & T, Ch. 8
    Oct. 10-15 The Nature and Creation of Money: R & T, Ch. 9; and, GHJ, pps. 1-48
    Oct. 17-19 Microfinance and Macroeconomics: GHJ, pps. 49-64
    Oct. 22-26 Financial Markets and the Economy: R & T, Ch. 10
    Oct. 29-31 Monetary Policy and the Fed: R & T, ch. 11

    Macroeconomic Policy

    Nov. 5-9 Government and Fiscal Policy: R & T, Ch. 12
    Nov. 12-16 Consumption and Aggregate Expenditures Model: R & T, Ch. 13
    Nov. 19-23 Investment and Economic Activity: R & T, Ch.14

    Macro Caselet: Japanese Household Spending & the MPC
    Nov. 26-30 International Finance: R & T, Ch.15
    December 3-7 Inequality, Poverty, & Discrimination: R & T, Ch.18

    Macro Caselet: Russian Central Bank to Print More Money
    December 10 Review for Final Exam


    Federal Reserve Board Beige Book


    Copyright © 2012, Satya Gabriel, Economics Department, Mount Holyoke College.