University of Minnesota
Fall 2007 Economics 1102
Principles of Macroeconomics
Blegen Hall 205, 5:00-7:30 PM Wednesday
Recitation 31: Blegen Hall 255, 7:30-8:20 PM Wednesday
: Justin Barnette
Office: 1175 Heller Hall
Phone: (612) 624-6084
Office hours: Monday 5:00 – 6:00PM, Wednesday 1:00 – 2:00PM & by appointment
Note on Communication
The best way to contact me is through email.
I will try to respond to
emails within 24 hours.
Additionally, I will contact the class occasionally by email.
: Chun Xia
Office: 975 Heller Hall
Office hours: Tuesday 2:00 – 4:00PM & by appointment
Econ 1102 is an introductory course in economics.
It acquaints students with the basic tools in
macroeconomics including opportunity cost, debts, inflation, unemployment, role of central banks,
saving and investment, budgets, budget and trade deficits, GDP, exchange rates, and fiscal and
monetary policies. Basic macroeconomic tools and concepts are essential in understanding the
"economic way of thinking" in a world with country interdependencies, multinational firms, and an
increasingly open global economy. The concepts offer important insights into a variety of social,
economic, and country interactions. We try to emphasize the fact that economic problems can be
viewed from many angles, and can be remedied in different ways, depending on the existing
conditions and the underlying philosophy. Economic problems are presented not in an isolationist
context, but in an open and global setting, and almost all current economic decisions are made in the
context of a global framework. Furthermore, five guest lectures from foreign countries will reinforce