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Econ 302: Principles of Macroeconomics
Current Semester: Spring 2008
Section 01:
Meets M W from 2:15pm - 3:30pm in C1004
Click here for the Syllabus
This course is an intermediate level course in macroeconomic theory and in its application. We will examine the modern market economy with a view towards trying to understand fluctuations in national income, output, employment, prices and exchange rates and the implication of such changes for business decisions. We will examine the goods, financial, and labor markets, and the role of government and the Federal Reserve in maintaining a strong and vibrant economy. In doing so, we will analyze the effects of monetary policy, fiscal policies, and other macroeconomic events on economic activity. We will also focus on the determinants of economic growth, namely, capital accumulation and technological progress.
Lectures
Note: These lecture notes are not meant as a substitute for your own class notes. Rather, they are meant to assist you in taking class notes. In no cases are they complete representations of the course material, and in most cases, they will not be comprehensible without having attended class.
Files can be viewed with Adobe Acrobat Viewer 
(click here to download)
If you prefer to have the Powerpoint presentations, click here
| Course Schedule | |||
|---|---|---|---|
| Week | Subject | Lecture Notes | Readings: (B - Blanchard; M - Mankiw) |
| 1 | Introduction National Income and Product Accounts |
B: Skim chapters 1 - 2 |
|
| 2 | Review of Mathematical Concepts Business Cycle Facts |
Lecture 2.pdf | Math Review Notes Calculus and Stats Review Notes |
| 3 | Introduction to Aggregate Demand-Aggregate Supply | Lecture 3.pdf | B: 3, 4.1-4.2, 5, 7.2 M: 3.3-3.4, 9.3 - 10.1 |
| 4 | The Keynesian/Aggegate Expenditures Model | Lecture 4.pdf | |
| 5 | Goods Market Equilibrium - the IS Curve; Money Market Equilibrium - the LM Curve | Lecture 5.pdf | B:5, 7 M: 10 |
| 6 | Effects of Policy Actions in IS-LM Framework; Deriving Aggregate Demand | Lecture 6.pdf | B: 5,7 M: 11 |
| 7 | The Labor Market; Theories of Aggregate Supply |
Lecture 7.pdf | B: 7 M: 13 (incl. Appendix) |
| 8 | The Phillips Curve; Expectations; Policy Ineffectiveness Proposition; Menu Costs and Coordination Failure | Lecture 8.pdf | B: 8 ,9 |
| 9 | Stabilization Policy; Barro Gordon Model | Lecture 9.pdf | |
| 10 | The Small Open Economy | Lecture 10.pdf | B: 18, 19 M: 5 |
| 11 | The Mundell-Fleming Model | Lecture 11.pdf | B: 19, 20 M: 12 |
| Advanced Topics | |||
| 11 | Microfoundations of Consumption; Ricardian Equivalence | Lecture 12.pdf | B: 16-1 M: 16 |
| 12 | |||
| 13 | National Income in the Long Run | Lecture 13.pdf | B: 10 M: 3 |
| Economic Growth: The Solow Growth Model | Lecture 14.pdf | B: 11, 12 M: 7 |
|
| 14 | Solow Growth Model continued | ||
| 15 | Endogenous Growth Theory | Lecture 15.pdf | B: 13 M: 8 |
Practice Problem Sets
The problem sets here are from the study guide and for you to practice on and work through. They represent the most basic pieces of information you need to know on each of the topics. You should work through them prior to (in preparation for) the quizzes.
Files can be viewed with Adobe Acrobat Viewer (click here to download)
Problem Set |
Solution |
Due Date |
| Problem Set 1 Solution Excel spreadsheet with solutions |
February 11th 2008 |
|
| Problem Set 2 | Problem Set 2 Solutions | March 3rd 2008 |
| Problem Set 3 | Problem Set 3 Solutions | April 9th, 2008 |
| Problem Set 4 | Problem Set 4 Solutions | April 23rd, 2008 |
| Problem Set 5 | Problem Set 5 Solutions | May 12th, 2008 |
Exams
This is where you will find exams and answer keys after you have taken them.
Exams This Semester
Exams and their solutions will be posted here after you have taken them.
Midterm Exam Midterm Exam Solutions
Final Exam Final Exam Solutions
Sample Exams and Past Exams