EC 302 - FALL 2012 - PRACTICE FINAL - DOBLAS-MADRID
TIME ALLOWED: 2 HOURS
Multiple Choice (2 points each)
_
1. When economists use terms such as Gross Domestic Product, Gross National
Product and Gross Investment, the term Gross means
a. utterly disgustin
Intermediate Macroeconomics
Class 24
Keynesian Business Cycle Analysis
IS - LM and AD AS models
Explaining Business Cycles: Classical vs Keynesian
Keynesian Macroeconomists: wage and price rigidity
Real wage rigidity
Sticky prices
Monetary and Fiscal Poli
EC 302
Homework 1 Answer Key
Note: Each multiple choice question is worth 1 point. Question 3 is worth 2 points. Question
10 is worth 3 points. Question 20 is also worth 3 points. There are 25 points total.
1. A
2. D
3. $87,000 - $11,000 paid for intermed
Econ 302 Exam 1 Study Guide and Formulas
Chapter 1
Fiscal Policy: government spending and taxation, changes in federal budget
Monetary Policy: Growth of money supply determined by the Central Bank The Fed.
Macroeconomics is aggregated, micro is disaggrega
Economics302ProblemSet4
DueWednesdayMarch30th(atbeginningofclass)
1. Show the IS, LM or FE curve shifts in response to the following events. Note we are not
analyzing general equilibrium here, just the shifts of the individual curves. Also note it is
poss
Economics302ProblemSet3
DueWednesdayMarch16th(atbeginningofclass)
1. Solowgrowthmodel:
a. Drawthesteadystateequilibriumbydrawingthesavingslineandtheinvestment
line.Showthesteadystatevaluesofsavings,investmentandcapitalperworker.
b. Onthesamegraph,alsodraw
EC 302 001 Spring 2016 SYLLABUS
Instructor: Antonio Doblas-Madrid
Page 1 of 6
EC 302 001 Intermediate Macroeconomics
Spring 2016
SYLLABUS
Class:
Monday and Wednesday, 3:00pm-4:20pm
N101 North Kedzie
Instructor:
Antonio Doblas-Madrid
Office Address:
MSU De
Problem 1 (40 points)
(a)
For each of these transactions, record the corresponding credit-debit pair in the US
CA and/or the US KFA.
CA
Credit
I
II
III
IV
(b)
KFA
Debit
500M
Credit
500M
200M
100M
Debit
200M
100M
100M
100M
Assuming that these are all the t
EC 302 Intermediate Macroeconomics
Antonio Doblas-Madrid, Ph.D.
HOMEWORK 1
DUE ON WEDNESDAY, FEBRUARY 10TH 2016, AT 4:20PM
PLEASE UPLOAD YOUR ANSWERS TO THE D2L DROP BOX.
Problem 1 The Solow Growth Model (50 points)
Consider a closed economy with the foll
EC 302 Intermediate Macroeconomics
Antonio Doblas-Madrid, Ph.D.
The ISLM /ADAS Model
HOMEWORK 2
Due Wednesday, March 30th, 2016 by 4:20pm.
Please turn in your handwritten answers in class,
or upload electronic version to d2l Dropbox.
Liquidity Trap in the
EC 302 Intermediate Macroeconomics
Antonio Doblas-Madrid, Ph.D.
Money and Prices and the Federal Reserve
HOMEWORK 3
DUE DATE: WEDNESDAY, APRIL 20TH AT 4:20PM
IN CLASS OR d2l DROPBOX
Problem 1 The inflation tax (35 points)
Consider the following informatio
Sample Quiz 1
Answer Key
Multiple choice
1d
u = (Labor Force Employed Workers)/Labor Force, so its 9.1% for North, 7.69% for
South, 6.38% for East, and 16.7% for West.
2. a
Reason: Calculate real GDP (RGDP) as follows
RGDP_year_t = Nominal GDP_year_t *20/
EC 302
Homework 4 Answer Key
Note: Each multiple choice question is worth 1 point. Question 4 is worth 3 points. Question
11 is worth 5 points. There are 25 points total.
1.
2.
3.
4.
C
A
D
An increase in the money supply shifts the LM curve down and to th
EC 302 - Fall 2016
Homework 1
DUE: Monday, September 26
Directions: Answer each question on a separate sheet of paper. There are multiple choice and
short answer questions. For multiple choice questions only write the letter that youre selecting
as your f
Quiz 3: production function is Yt = A KtNt1-
The per worker production function is yt = A kt
Depreciation rate is d.
Draw the graph showing the steady-state k*, y*, sy*, and c*
Quiz 3: production function is Yt = A KtNt1-
The per worker production functio
Intermediate Macroeconomics
Class 23
Classical Business Cycle Analysis
IS - LM and AD AS models
Explaining Business Cycles: Classical vs Keynesian
Classical Macroeconomists: Real Business Cycle Theory
Business Cycles in the Classical Model
Fiscal Policy S
Intermediate Macroeconomics
Class 12
Long Run Economic Growth
The Solow Growth Model cont.
Optimal saving rate: the golden rule
Population growth
Productivity growth; Technological progress
Endogenous Growth Theory
Effects of Government Policies
Finding t
Intermediate Macroeconomics
Class 11
Long Run Economic Growth
Issues Benefits to residents, Sources of Economic
Growth
The Solow Growth Model
Endogenous Growth Theory
Effects of Government Policies
What is economic growth and why is it important?
Why do d
Intermediate Macroeconomics
Class 27
Open Economy
How Exchange Rates Are Determined: A Supply-andDemand Analysis cont.
The IS-LM Model for an Open Economy
Macroeconomic Policy in an Open Economy with
Flexible Exchange Rates
How are exchange rates and Net
Open Economy
Exchange rates:
Nominal exchange rates: fixed and floating
Real exchange rates
Purchasing power parity vs. Fixed prices
Determination of exchange rates
Open economy IS LM model
Open Economy: Exchange Rates
Nominal Exchange Rates: How much for
Intermediate Macroeconomics
Unemployment and Inflation
Increased output increased price level
(employment)
(inflation)
Phillips Curve
Empirical evidence from US economy in the 1960s
Long Run Aggregate Supply
Y = Y = A F (K, N)
LRAS is vertical
Short Run A
Intermediate Macroeconomics
Class 29
Fiscal Policy and the Government Deficits and Debt
What is the Role of Fiscal Policy?
Government Revenues and Government Spending
Deficits and Debt
Impact of Fiscal Policy on:
the Macroeconomy
the Deficit and Debt
Role
Intermediate Macroeconomics
Class 28
Monetary Policy and the Federal Reserve System
Determinants of Money Supply
Central Bank (Federal Reserve) sets monetary policy
Depository Institutions (Banks) take in deposits and make loans
Public (Individuals and Fi
Quiz 2
An economy has full employment output: Y = 2400.
Consumption Function
Cd = 500 + .6 (Y T) 1000r
Taxes on households are
400
Government purchases are
600
Investment Function
Id = 400 2000r
Answer A, B, and C for 1 or 2.
1.
The economy is a closed ec
Quiz 1
1.
EC 302
The nominal and real GDP for two periods are:
Nominal GDP
Period 1
110
100
Period 2
150
Real GDP
120
What is the inflation from Period 1 to Period 2?
(Show all work. You may leave as a fraction.)
2.
Consider the production function: Y = F
Quiz 8
A.
Draw an AD AS graph and a Phillips curve graph for an
economy with negative inflation or deflation (e = - 1%) and
natural rate of unemployment (u = 5%). The economy is
currently at the LR General Equilibrium. Label the general
equilibrium A
B.
W
Intermediate Macroeconomics
Class 20 21
IS LM model cont. and the AD AS model
General Equilibrium: intersection of IS, LM and FE
Supply shocks (adverse or beneficial)
Monetary expansions (contractions)
Fiscal expansions (contractions)
Classical vs Keynesi