Macroeconomics (311-0-20)
Instructors
Mark P Witte
Meeting Info
Fisk Hall 217: Mon, Wed, Fri 12:00PM - 12:50PM
Overview of class
The macroeconomy is the most complex system ever studied by humans. This course develops several models that explain long and short run behavior of the macroeconomy and its sub-parts. These include output, interest and inflation rates, labor and financial markets, government and international balance. Students will be expected to understand how the interaction of the goods market and the money/asset markets can lead to possible multiple equilibria in macroeconomics, how the economy can get stuck in bad ones, and how fiscal and monetary policies may make matters better...or worse. Students will understand the measurement of price level changes, labor market variables, productivity, and the macroeconomic imbalances that can exist with the government budget and for assets and trade flows between nations in world markets. Students will understand the monetary and financial systems and how they contributed to our current situation, both in the US and Europe. Students will also understand the determinants of long run economic growth, and the resulting implications.
Registration Requirements
Prerequisites include ECON 201 and ECON 202, MATH 220-1 or equivalent. Instructor Note: Basic algebra, simple differential calculus, and graphing. Some use of spreadsheets such as Excel will be helpful for some homework.
Learning Objectives
This course should give students frameworks and economic reasoning for understanding short and long-run macroeconomic phenomena, and the possibilities and limits of macroeconomic policy.
Teaching Method
Lecture
Evaluation Method
Two exams, homework, quizzes. The second exam will be on the last day of lecture so the class will conclude by the last day of May.
Class Materials (Required)
Readings and notes at: http://bit.ly/Econ311-notes
Class Materials (Suggested)
Carlin & Soskice, Macroeconomics: Institutions, Instability, and Inequality (2024)
Class Attributes
Social and Behavioral Science Foundational Discipl
Social & Behavioral Sciences Distro Area
Associated Classes
DIS - Locy Hall 318: Tues 9:00AM - 9:50AM
DIS - Kresge Centennial Hall 2-425: Tues 10:00AM - 10:50AM
DIS - Technological Institute M128: Tues 5:00PM - 5:50PM
DIS - Technological Institute M128: Tues 6:00PM - 6:50PM
DIS - Kresge Centennial Hall 2-435: Tues 9:00AM - 9:50AM
DIS - Harris Hall L28: Tues 10:00AM - 10:50AM