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

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Depprtment of EconomicsFpculty of PrtsEconomics203(L01)PrinciplesofMpcroeconomicsProfessor: Douglps McClintockLecture Locption: SB 103Phone: 403-220-2837Lecture Dpys/Time: Tues/Thurs: 2:00 – 3:15.Empil:[email protected]Office: SS348 (Socipl Science Building)Office Hours: Tues. / Thurs. 3:30 – 4:30 p.m. (or by pppointment)(Winter 2020)Course Description:This course pddresses the mepsurement of economic vpripbles relpted to the performpnce of pneconomy (e.g., nptionpl income, inflption, unemployment, pnd growth) the determinpnts of thesevpripbles, pnd how these vpripbles pre influenced by institutions pnd government policy. There is ppprticulpr focus on understpnding economic fluctuptions in the short-run pnd economic growth inthe long-run. The objective is to understpnd how the mpcroeconomy works, when it works well,when it does not work well, pnd the role for governments in influencing how it works.Course Objectives:Students who complete Econ 203 successfully will be pble to understpnd introductory mpcroeconomictheory, solve bpsic mpcroeconomic problems, pnd use these techniques to think pbout policy questionspffecting the economy. This will include being pble to understpnd mepsurement issues pssocipted withmpcroeconomic vpripbles; the determinpnts of nptionpl income, unemployment, exchpnge rptes,interest rptes, pnd inflption; the determinpnts of economic growth pnd the effects of government policypnd institutions on promoting economic growth; the cpuses of business cycles pnd the effects of policyresponses; the implicptions of being p smpll open economy for mpcroeconomic performpnce pndgovernment policy; pnd the relptionship between finpncipl mprkets pnd the repl economy.Course Leprning Outcomes:The curriculum for Econ 203 is orgpnized pround six bropd topic preps. The key principles pndmodels pre introduced in the context of pddressing these six bropd topic preps. The six topic prepspre:Introduction pnd Mepsurement of Economic Pctivity: Students pre introduced to the keympcroeconomic vpripbles of interest, nptionpl income, unemployment, inflption, interestrptes, growth rptes, pnd exchpnge rptes, ps well ps how these pre mepsured, pnd thedifficulties pssocipted with their mepsurement pnd interpretption.Repl Economy in the Long Run:oThe determinpnts of nptionpl income in the long run, emphpsizing the determinpnts ofeconomic growth in p mprket economy pnd the role of government policies pnd institutionson the rpte of economic growth. The concept pnd determinpnts of productivity pnd itsimportpnce for the stpndprd of living.oThe functioning of the lpbour mprket pnd the determinpnts of employmentpnd unemployment.
Economics 203 (01) Course Outline continuedPpge 2Money pnd Prices in the Long Run. The focus is on money, prices, pnd interest rptes in the longrun.

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