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ISYLS10HON - Rutgers University Spring 2010 Department of...

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Rutgers University Department of Economics Spring 2010 Neil Sheflin Honors Introduction to Macroeconomics 220:103 Section H1 12/28/2009 Is the recession over? Could it still become a depression ? What caused it? What did/should we do about it? Why does it matter? What’s GDP and why is it gross? What causes unemployment and what policies can reduce it? What’s inflation , and what harm does it cause? How do interest rates matter? How fast will our economy and our wealth grow ? What is money and what role does it have in the economy? Why do banks matter? What’s the Fed and what is it doing now? What are monetary and fiscal policy? What does China have to do with the U.S. economy? What does China’s exchange rate have to do with anything? What's bad about government deficits and the national debt ? The trade deficit ? How does international trade impact our economy? What are the roles of the stock market and the financial system and how can you make (and lose) a fortune? Macroeconomics studies the behavior of the aggregate economy and deals with the determinants of a nation’s output and income , the determinants of the average level of prices and their rate of change (inflation), and the determinants of growth in an economy. While an Introductory Microeconomics course is highly recommended , it is not required if one is prepared to quickly catch-up (but if you have a choice, take Micro first ). Above all, this is intended to be an interesting, important, useful, and demanding course dealing with issues you will certainly face in your private, public, and professional lives and which will provide you with useful and usable skills and insights (and some cookies ). This honors section will differ from the standard Introduction to Macroeconomics in a number of important ways. First and most obvious, it will be a small class allowing for more learning by doing (active education), more interaction, and more attention to each student’s needs. While the coverage will be similar, there will be more supplementary material in this section, including web-based readings, data-based and analytical exercises, and more use of statistical/econometric modeling. Students will be expected to develop a broader and deeper grasp of the material. More writing in the form of collaborative projects will be incorporated via the use of wikis. The midterm and the final will consist of short written questions as well as multiple choice, and there will be considerable feedback, assuring that students learn from their errors rather than repeating them. Also, cookies will be served weekly.
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