Boston College Department of Economics EC 202 Macroeconomics Spring / 2011

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1 Please note that this syllabus should be regarded as only a general guide to the course. The instructor may have changed specific course content and requirements subsequent to posting this syllabus. Last odified: 11:09:08 01/14/2011 Boston College Department of Economics EC 202 acroeconomics Spring / 2011 Instructor: Orhan Akisik Office Hours: Campanella ay P, 11:00-12:30, and by appointment akisik@bc.edu TA: ilippo De arco Office Hours: f.demarco87@gmail.com PREREQUISITES: ECON132, CALC I Course Description acroeconomics is a three-credit course at an undergraduate level. acroeconomics examines the economy as a whole. It attempts to answer to many questions about the functioning of an economic structure, such as: what causes recessions and depressions?; what policies should be implemented to avoid them? hy is inflation rate higher in some countries than in others? hat factors lead to economic growth? The major topics to be discussed in this course include: goods and financial markets, labor market, inflation, growth, open economy, and exchange rate systems. As an instructor, my goal is that you gain fundamental knowledge and skill to understand and analyze macroeconomic issues by the end of this semester. Conduct of the Course The course will be conducted in a way that the goal described above will be achieved. To this end, we will use a variety of tools, such as reading and discussion of articles and problem solving. Each class will consist of two parts. In part one, I will present the topic. In part two, one student team will discuss the main arguments and idea covered in selected articles. Therefore, I would like you to come prepared to class. Class discussions help you to fully understand current economic issues. You may be responsible for articles in the examinations. Attendance is very important and guarantees the success in this course, so I would like you to attend all of the classes unless you have an important excuse. I will come prepared for every class and try to answer all of your questions, if not immediately, as soon as possible after class. Required Textbook Olivier Blanchard: acroeconomics, Updated ifth Edition, Prentice Hall Supplementary Reading aterials The inancial Times, The all Street Journal, and The Economist 1

2 EC 202 acroeconomics Orhan Akisik Online Links for urther Information Examinations There will be three quizzes, two midterm examinations, and a cumulative final examination. You will be allowed to drop the quiz with the lowest grade. So, only two best quizzes will count in your course grade. Examinations will consist of multiple choice and essay questions. Dates of Quizzes and idterm Examinations Quiz 1: 02/07 Quiz 2: 03/04 Quiz 3: 04/13 idterm Exam 1: 02/23 idterm Exam 2: 04/06 Grading Policy Attendance 10 % A Quizzes 10 % A Presentation 10 % B idterm Exam 1 20 % B idterm Exam 2 20 % B inal Exam 30 % C C C D D Below 60 Please kindly note that the syllabus is subject to change! 2

3 Date Topic Due Dates 01/19 Ch.1: A Tour of the orld 01/21 Ch.1: A Tour of the orld 01/24 Ch.2: A Tour of the Book 01/26 Ch.2: A Tour of the Book Discussion 1 01/28 Ch.3: The Goods arket Discussion 2 01/31 Ch.3: The Goods arket Discussion 3 02/02 Ch.4: inancial arkets Discussion 4 02/04 Ch.4: inancial arkets Discussion 5 02/07 Ch.5: Goods and inancial Quiz 1 arkets: The IS-L odel 02/09 Ch.5: Goods and inancial Discussion 6 arkets: The IS-L odel 02/11 Ch.6: The Labor arket Discussion 7 02/14 Ch.6: The Labor arket Discussion 8 02/16 Ch.7: Putting All arkets Discussion 9 Together: The AS-AD odel 02/18 Ch.7: Putting All arkets Discussion 10 Together: The AS-AD odel 02/21 Review for idterm Exam 02/23 idterm Exam 1 02/25 Ch.8: The Natural Rate of Unemployment and the Discussion 11 02/28 03/02 03/04 Phillips Curve Ch.8: The Natural Rate of Unemployment and the Phillips Curve Ch.9: Inflation, Activity, and Nominal oney Growth Ch.9: Inflation, Activity, and Nominal oney Growth Discussion 12 Discussion 13 Quiz 2 03/07 07/11 - Spring Vacation 3

4 03/14 03/16 03/18 03/21 03/23 03/25 03/28 03/30 04/01 04/04 04/06 04/08 04/11 04/13 04/15 04/18 Ch.10: The acts of Growth Discussion 14 Ch.10: The acts of Growth Discussion 15 Ch.11: Saving, Capital Discussion 16 Accumulation, and Output Ch.11: Saving, Capital Discussion 17 Accumulation, and Output Ch.12: Technological Discussion 18 Progress and Growth Ch.12: Technological Discussion 19 Progress and Growth Ch.14: Expectations: The Discussion 20 Basic Tools Ch.14: Expectations: The Discussion 21 Basic Tools Ch.18: Openness in Goods Discussion 22 and inancial arkets Review for idterm Exam idterm Exam 2 Ch.18: Openness in Goods and inancial arkets Ch.19: The Goods arket in an Open Economy Ch.19: The Goods arket in Quiz 3 an Open Economy Ch.20: Output, Interest Rate, and the Exchange Rate Patriot s Day No Classes 4

5 04/20 04/21 25 TH- 04/27 04/29 05/02 05/04 05/06 Ch.20: Output, Interest Rate, and the Exchange Rate Easter eekend No Classes Ch.21: Exchange Rate Regimes Ch.21: Exchange Rate Regimes Ch.23: High Inflation Ch.23: High Inflation Review for inal Exam Discussion 24 5