Tentative Schedule and Course Assignments:
Week 10
May 26, 2009 Finish Chapter 34: Monetary and Fiscal Policy
- Chapter 34: Monetary and Fiscal Policy - continued
- How Fiscal Policy Influences Demand
- Changes in Government Purchases
- Last Minute Topics?
- Review for the Final Exam
PAST ASSIGNMENTS:
Week 9
May 19, 2009 Chapter 33 continued and Chapter 34: Monetary and Fiscal Policy
- Problem Set IV - Due at the beginning of class.
- Chapter 33: Aggregate Demand and Supply
- Effects of a Shift in AS - Oil Price Shocks
- How Monetary Policy Influences AD
- How Fiscal Policy Influences AD
- Using Policy to Stabilize the Economy
May 21(22), 2009 Finish Chapter 34: Monetary and Fiscal Policy
- Chapter 34: Monetary and Fiscal Policy - continued
- Monetary Policy Effects on Demand
- The Theory of Liquidity Preference
- Interest Rates in the Short-run and Long-run
- The Downward Slope of AD
- Changes in the Money Supply
- The Role of Interest Rate Targets in Fed Policy
- How Fiscal Policy Influences Demand
- Changes in Government Purchases
Week 8
May 12, 2009 Chapter 32 continued and Chapter 33: Aggregate Supply and Demand
- Chapter 32: Macroeconomic Theory of the Open Economy - continued
- The Market for Foreign-Currency Exchange
- Government Budget Deficits
- Trade Policy
- Political Instability and Capital Flight
- Wealth Effect
- Interest Rate Effect
- Exchange Rate Effect
May 14(15), 2009 Chapter 33 continued and Chapter 34: Monetary and Fiscal Policy
- Problem Set IV DUE at the beginning of class on Tuesday!
- Chapter 33: Aggregate Demand and Supply continued
- Why the Aggregate Demand Curve Shifts
- Aggregate Supply Curve
- In the Long Run is vertical
- In the Short-Run slopes upward
- Special Cases: Two Causes of Economic Fluctuations:
- Effects of a Shift in AD - Recessions
- Effects of a Shift in AS - Oil Price Shocks
Week 7
May 5, 2009 Chapter 31: Introduction to the Open Economy
- Midterm Exam Review
- Warren Buffett and the future at Berkshire Hathaway.
- Also see my thoughts and links to the Annual and Quarterly reports here at my blog.
- Chapter 31: The Open Economy
- Net Exports
- Net Capital Flows
- Saving, Investment and the Open Economy
- Summary on page 683
May 7(8), 2009 Chapter 31 continued and Chapter 32: Macroeconomic Theory of the Open Economy
- Homework 10 pts. Due at the beginning of class.
- Chapter 31: The Open Economy - continued
- Real and Nominal International Prices
- Nominal Exchange Rates
- Real Exchange Rates
- PPP: A First Exchange Rate Theory
- The "Big Mac" Index
- The Supply and demand for Loanable Funds and For Foreign Exchange
- The Market for Loanable Funds
- The Market for Foreign-Currency Exchange
- Equilibrium in the Open Economy
- How Policies and Events Affect An Open Economy
- Government Budget Deficits
Week 6
April 28, 2009 Finish Chapter 30, Final Review today - Mid-Term Exam This Evening
- Midterm Exam Preview
- Chapter 30: Money Growth and Inflation continued
- The Classical Dichotomy and Monetary Neutrality
- The Quantity Theory
- - Be able to explain these two crucial concepts on the Final Exam
- Hyperinflation - four examples
- The Inflation Tax
April 30 (May 1), 2009 NO CLASSES - International Labor Day Break!!
- Labor Day celebration of "Haymarket Square, 8 Hour Workday" Protest in the U.S.
- Mankiw's Chapter 31 PPT
- Day 12 PPT - U.S. Real GDP - 1st Quarter Advance number
Week 5
April 21, 2009 Chapter 29: The Monetary System continued and Chapter 30: Money Growth and Inflation
- Problem Set #3 Due Today!
- Banks and the Money Supply
- Fractional Reserve System: the required reserve ratio
- Money Creation
- The Money Multiplier
- The Fed's Tools of Monetary Control
April 23 (24), 2009 Chapter 30: Money Growth and Inflation continued
- Chapter 30: Money Growth and Inflation
- The Classical Theory of Inflation continued
- The Level of Prices
- Money Supply and Demand
- The Classical Dichotomy and Monetary Neutrality
- The Quantity Theory
Week 4
April 14, 2009 Chapter 28: Unemployment
- An Example of a Productivity increase in Health Care in America!
- Chapter 28: Unemployment
- My Comments on the Last Unemployment report on April 3, 2009
- Here's the New York Times article.
- Identifying Unemployment
- The Natural Rate of Unemployment
- Cyclical Unemployment
- How is Unemployment Measured?
- Who is Unemployed? Not unemployed?
- The Labor Force Participation Rate
- Alternative Measures: U1...U9 - Discouraged Workers
- Public Policies including the Minimum Wage
- The Theory of Efficiency Wages
- Mankiw's Chapter 28 PPT
- Day 7 PPT - Unemployment Today
April 16 (17), 2009 Chapter 29: The Monetary System
- Chapter 29: The Monetary System
- The Meaning of Money
- Three Functions of Money
- Three kinds of Money
- Money in the U.S. Economy
- The Federal Reserve System
- The Fed Banks
- The Fed Governors
- The FOMC - Federal Open Market Committee
- Know the basics about each of the above: what are the characteristics of each? what "power" does each have? what is the main role of each?
- Banks and the Money Supply
- Fractional Reserve System: the required reserve ratio
- Problem Set #3 - 15 points, Due: April 21 (Tuesday)
- Money Creation
- The Money Multiplier
- The Fed's Tools of Monetary Control
- The Evolution of the Renminbi from 1957 to present
Week 3
April 7, 2009 Chapter 25: Production and Growth continued and Chapter 26: Saving and Investment
- Finish Chapter 25: Production and Growth continued
- Malthus - what's a Protestant Minister to say?
- Day 5 PPT - Thomas Robert Malthus, Protestant Minister, Classical Economist
- Finish Chapter 26: Saving and Investment
- Basics: Financial Intermediaries, Mutual Funds and Financial Markets - READING!!
- Important Identities: Private and Public Saving
- The Market for Loanable Funds
- Policy 1: Saving Incentives
April 9 (10), 2009 Chapter 26: Saving and Investment continued
- Finish Chapter 26: Saving and Investment
- The Market for Loanable Funds - Continued
- Policy 2: Investment Incentives
- Policy 3: Government Budget Deficits and Surpluses
- U.S. Government Debt
Week 2
March 31, 2009 Chapter 25: Production and Growth
- Problem Set #2 - DUE TODAY!
- Finish Chapter 24: Cost of Living
- Day 3 PPT - Some NIPA formulas
- Productivity and its components
- Production Function - the black box, or is it?!
- Mankiw's Chapter 25 PPT
April 2 (3), 2009 Chapter 25: Production and Growth continued
- QUIZ
- Diminishing Returns
- Saving and Investment
- Human Capital - Education
- Real wages - see Babe Ruth's salary in the text - Chapter 24
- Day 4 PPT - Nobel Laureat Robert Solow's Growth Model!
Week 1
March 24, 2009 Chapter 23 and 24: An Overview of the Financial System
- Review the Final Exam from Financial Institutions & Markets
- The Fed Met on Tuesday, March 17 ... what happened?!!!
- An Introduction to the Principles of Macroeconomics
- You Know these: What are the three Goals of any Macroeconomy?
- Grow the economy - Economic Growth!
- Price Stability - not inflation OR deflation!
- Full Employment - Everyone has a job! Now let's find the values!
- Central Banks - the Fed, the PBC (People's Bank of China)
- Bloomberg - Currency Rates US/CNY
- China Foreign Exchange Trading System - a division of the PBOC
- Hand out Problem Set #1 - Do Question #1 and Question #2 for Thursday/Friday (parts a and b, only) - graphing and price ceilings/floors
March 26 (27), 2009 Chapter 24: An Overview of the Financial System (continued)
- Last of 3 releases for Real GDP for the 4th Quarter of 2008! (Tonight - 26th - at 8:30 pm)
- In Class - Finish Problem Set I - in class (c, d, e and f)
- QUIZ - the 3 Goals of any MACROECONOMY, 3 indicators AND Values!
- NIPA - National Income and Product Accounts
- Calculate Components
- Calculate Growth Rates - Real GDP and Gov't
- Calculate PCE and GDP deflator growth rates
- What is a price index and how do we calculate them? CPI, GDP deflator
- Problem Set #2 - download and finish for Tuesday!
- Day 2 PPT
- Mankiw's Chapter 24 PPT
[Andrew's SILC Home Page, Shanghai, China] - [Drew's Home Page, United States]
email: andrew at andrewparkes.com
Last Update: April 18, 2009
By Andrew L. H. Parkes, Ph. D.