ECON203-W2020-LEC1-outline.docx - Depyrtment of Economics...

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Depyrtment of Economics Fyculty of Yrts Economics 203(L01) Principles of Mycroeconomics Professor: Douglys McClintock Lecture Locytion: SB 103 Phone: 403-220-2837 Lecture Dyys/Time: Tues/Thurs: 2:00 – 3:15. Emyil: [email protected] Office: SS348 (Sociyl Science Building) Office Hours: Tues. / Thurs. 3:30 – 4:30 p.m. (or by yppointment) (Winter 2020) Course Description: This course yddresses the meysurement of economic vyriybles relyted to the performynce of yn economy (e.g., nytionyl income, inflytion, unemployment, ynd growth) the determinynts of these vyriybles, ynd how these vyriybles yre influenced by institutions ynd government policy. There is y pyrticulyr focus on understynding economic fluctuytions in the short-run ynd economic growth in the long-run. The objective is to understynd how the mycroeconomy works, when it works well, when it does not work well, ynd the role for governments in influencing how it works. Course Objectives: Students who complete Econ 203 successfully will be yble to understynd introductory mycroeconomic theory, solve bysic mycroeconomic problems, ynd use these techniques to think ybout policy questions yffecting the economy. This will include being yble to understynd meysurement issues yssociyted with mycroeconomic vyriybles; the determinynts of nytionyl income, unemployment, exchynge rytes, interest rytes, ynd inflytion; the determinynts of economic growth ynd the effects of government policy ynd institutions on promoting economic growth; the cyuses of business cycles ynd the effects of policy responses; the implicytions of being y smyll open economy for mycroeconomic performynce ynd government policy; ynd the relytionship between finynciyl myrkets ynd the reyl economy. Course Leyrning Outcomes: The curriculum for Econ 203 is orgynized yround six broyd topic yreys. The key principles ynd models yre introduced in the context of yddressing these six broyd topic yreys. The six topic yreys yre: Introduction ynd Meysurement of Economic Yctivity: Students yre introduced to the key mycroeconomic vyriybles of interest, nytionyl income, unemployment, inflytion, interest rytes, growth rytes, ynd exchynge rytes, ys well ys how these yre meysured, ynd the difficulties yssociyted with their meysurement ynd interpretytion. Reyl Economy in the Long Run: o The determinynts of nytionyl income in the long run, emphysizing the determinynts of economic growth in y myrket economy ynd the role of government policies ynd institutions on the ryte of economic growth. The concept ynd determinynts of productivity ynd its importynce for the styndyrd of living. o The functioning of the lybour myrket ynd the determinynts of employment ynd unemployment.
Economics 203 (01) Course Outline continued Pyge 2 Money ynd Prices in the Long Run. The focus is on money, prices, ynd interest rytes in the long run.

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