Syllabus3102S11 - University of Minnesota Spring 2011...

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University of Minnesota Spring 2011 Economics 3102-02 Intermediate Macroeconomics Lecture : Anderson Hall 270, 11:15a.m. – 12:05 p.m., Mon/Wed/Fri. Course Instructor : Sewon Hur Office location : 3-161 Hanson Hall Office Hours : 1-3PM Friday E-mail : (Must put [3102] in subject of email) Website: sewonhur E-mail is the best way to contact me; please allow up to 24 hours for e-mail responses 1. Course Description: The purpose of Econ 3102 is to provide a formal exposition of modern macroeconomics. I will start building up from what you learned in Econ 1102 and expand it; yet, the analysis will be done in a rigorous way. For this reason, the tools you've learned in Econ 3101 will prove useful (I'll do a small review before using them); even though this is not a microeconomics course, you need to be sure why things happen and to keep a clear idea of what's going on behind all the results we get. Up to now, there is no “definite” approach to teaching an intermediate macroeconomics course. While you should be familiar with the Keynesian model (most likely this was what you learned in Econ 1102), I'll present both the Keynesian and the Real Business Cycle (RBC) frameworks in the course, with an emphasis on the latter. The reason is simply that the RBC model is the workhorse of modern macroeconomics (at the research frontier). Last, but not least, an added goal of the course is to test important theoretical results on real-world data and examples. I think that any Macroeconomics course should balance a strong theoretical background and empirical analysis. Get ready to crunch some data. 2. Prerequisites: Class prerequisites are Econ 1102, 3101 and Math 1271 (or equivalents). I will assume that you are comfortable with macroeconomic concepts at the level of Econ 1102 (say, definitions, ideas, methods) and build upon them as I present the material; also, I will be constantly using results you learned in 3101, such as the utility maximization problem and its related topics (i.e., income and substitution
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Syllabus3102S11 - University of Minnesota Spring 2011...

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