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ECO4203 Sp2011 syllabuss

ECO4203 Sp2011 syllabuss - Florida State University...

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1 Florida State University Department of Economics ECO4203: Intermediate Macroeconomic Theory Spring 2011 Class Times & Locations: Section 01 T R 9:30 ± 10:45 a.m. at 203 BEL Section 02 T R 3:35 ± 4:50 p.m. at 033 BEL Instructor: Dr. Onnie Norrbin Course Web Page: Blackboard Office & Phone: BEL 211-D, (850) 645-2301 Office Hours: Tuesdays & Thursdays 2:00 p.m. ± 3:30 p.m. or by appointment E-mail: [email protected] COURSE DESCRIPTION Examination of forces that determine growth, income, and employment in economic systems, with special reference to the United States and other industrialized countries. Understand the causes of unemployment and inflation and the role of government in maintaining stable prices and sustained growth. Prerequisites: ECO2013 and ECO2023. SCOPE Macroeconomics is the study of economic activity at the aggregate level. Our focus is on how macroeconomic YDULDEOHV LQWHUDFW LQ ZD\V WKDW XOWLPDWHO\ DIIHFW WKH ZHOIDUH RI D FRXQWU\¶V citizens. This course will divide the macroeconomic theories into three time horizons: ( i ) the short run, ( ii ) the long run, and ( iii ) the very long run. We will discuss Keynesian economics to describe economic fluctuations in the short run. In the long run analysis, we will study the Classical model of how output and employment are determined. Finally, we will focus on the economic growth theory to explain why rich countries remain rich and how to maintain robust economic growth. Particularly, the goal of this course is to present fundamental analytical tools (models) that are useful to analyze macroeconomic issues such as the determination of national income, employment, and price levels in different schools of economic thoughts. We will cover the short- and long-run responses of the economy to changes in government policies ± how fiscal and monetary policy can foster economic stability and improve WKH VRFLHW\¶V ZHOO -being. I will assume that you are comfortable with the use of graphs and algebra, and that you are willing to learn about different views of macroeconomic thoughts (Keynesian and Classical views). I will also assume that you are comfortable with the material in ECO2013 (Principles of Macroeconomics), as well as the material in ECO2023 (Principles of Microeconomics). Most importantly, I will assume that you have a genuine intellectual interest in economics and the interplay between abstract mathematical theories and empirical facts. OBJECTIVES Upon completion of this course, students should be able to: 1. XQGHUVWDQG KRZ ZH PHDVXUH WKH QDWLRQ¶V WRWDO LQFRPH DQG SULFH OHYHO² %H DEOH WR GLVFXVV WKH IODZV RI these measurements. 2. explain how public policies affect consumption, investment, and interest rate. 3. understand how an economy adjusts to its equilibrium in the short run and in the long run.
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