Economics 204
Principles of Economics: Macroeconomics

 

 

Notes, Homework, and Class Schedule          Textbook           Grading System

Course Description    Instruction and Preparation   Goals and Objectives 

 Erroneous Expectations  Helpful Expectations

 

 

 

Location and Time

Lecture:  MacLean Hall MWF  9:00 in  MA371

Instructor

Gregory Stutes

Office: 370L MacLean Hall
Office Hours  

Telephone: 477-4027

E-mail: stutes@mnstate.edu

Course Description:

This course will introduce students to economic issues, tools that economists use to analyze these issues, and the associated public policy concerns. First, we will review economics in general and some of the tools of economists. Using these tools, we will overview how markets work and examine some economic problems. We will address national incomes and measurement in the macroeconomy so that we may monitor developments in the economy as a whole. Next, we will describe the forces that in the long-run determine key variables, including growth in GDP, saving, investment, real interest rates, and unemployment. In the last major section of our class we introduce the monetary system and examine how money and the Fed affect the long-run behavior of the price level, inflation rate, and other nominal variables. Throughout the course, I will relate our discussion to topics in United States history. (This is my area of interest.) However, if you know a current event that relates to our studies, please draw my attention to it. Lastly, the most important goal we should set is to have fun. We are trying to make some sense out of this crazy world; it is a difficult task, but a very interesting one.

 

Grading System

Midterm I         200  
Midterm II        200  
Midterm III      200   
Midterm IV      200   
In-Class           200
Mindtap          200
                       -------     
                        1000      
                                      

 

  The lowest test score will be dropped.  Because of this, there will be no makeup tests.  If you are sick, need to go on vacation, whatever, you may use that test as you dropped test.  I, however, strongly suggest you plan on taking all tests and taking them seriously.  Under special university approved circumstances, you may request to take the exam early.  The final is given at the official university time.

 

Economics 204

Principles of Economics: Macroeconomics

Lecture Outline and Reading List

Date Subject Reading Subject Links to Handout Required Videos Supplemental Videos
1/118 The Economic Approach 1 Dragon

1st assignment

syllabus

Mr. Clifford interviews Chairman Bernanke about why you should study economics?

Microeconomics - Chapter 02: Trade-offs, Comparative Advantage, and the Market System

Scarcity and Exchange- EconMovies #1: Star Wars




The link Below is Great for Chapters 1, 2, & 3

Macro Unit 1 Summary- Basic Concept and Demand/Supply

1/10   1 Introduction

AP Econ p5
AP Econ Lesson 1

Typed Questions

PP Chpt 1

Production Possibilities Curve- Econ 1.1

 

Shifting the Production Possibilities Curve (PPC)- Econ 1.2

 

Production Possibilities- EconMovies #3: Monsters Inc

 

Econ 1.6- Economic Systems: Why is Communist China doing so well?

 

 

 

Some of these questions are more for Chapter 18

 

Macro and Micro Unit 1- Practice Questions #1

1/12   2 Exp student pp 5-6

???
arket efficiency
 
1/15      MLK Holiday

Demand and Supply Explained- Econ 2.1

 

Demand and Supply Explained (2 of 2) - Econ 2.2

 

Shifting Demand and Supply- Econ 2.3

 

Perverse Incentives and Bad Policies with Jacob Clifford

 

Capitalism and The Hunger Games: EconMovies #10

 

The beginning has more chapter 18 questions ,but the end is S&D

 

Macro Unit 1- Practice Questions #2

 

Supply and Demand Practice

 

 

Demand and Supply- EconMovies #4: Indiana Jones

 

Double Shifts- Econ 2.5 (Technical Tuesday)

 

1/17 Some Tools of the Economist S&D 3 &6 Aplia Simulation  

Check This Out- Update from Clifford

 

Macro Unit 2.1- GDP and Economic Growth

Macro Unit 2.2- Nominal and Real GDP Advanced Placement Macroeconomics

Macro Unit 2- Practice Questions #1

 

******

For me if no Aplia

The Handshake Market: Supply & Demand Activity

 

As it says this is a summary

 

Macro Unit 2 Summary- Measuring the Economy

 

Recessions and Fiscal Policy- EconMovies #5: Cars

 

1/19 Taking the Nation's Pulse 7 magnets

GDP worksheet
look up data

GDP, Unemployment, Inflation- EconMovies #6: Back to the Future

 

Macroeconomics - Chapter 19: GDP: Measuring Total Production and Income

 

1/22   7 problems fromMankiw

Macro Unit 2- Practice Questions #2

 

Macro 2.3- Unemployment and Natural Rate of Unemployment- AP Macro

 

Macro Unit 2.5- CPI Practice AP Macroeconomics

 

Macro Unit 2.6- GDP Deflator Practice AP Macroeconomics

 

Inflation and CPI Practice- Macro 2.8

 

Unemployment Game Show - Are you Officially Unemployed?

1/24 Economic Fluctuations, Unemployment, and /inflation 8 intro to cpi

cpi worksheet

Macroeconomics - Chapter 20: Unemployment and Inflation

 
1/26   8
mankiw cpi

Macro 2.7- Business Cycle Unit Summary

 
1-29   8 intro to un & bcycles
mankiw and real data un and b-cycles
     
1/31     review and catch up      
2/2   Midterm I

Circular Flow Matrix- How the economy works- Econ 1.7

 

Macro 3.1- Aggregate Demand Practice

 

Macro 3.2- Aggregate Supply Practice

 

Macro 3.3- Long Run Aggregate Supply, Recession, and Inflation (LRAS)

 

Macro Unit 3 Summary- Aggregate Demand/Supply and Fiscal Policy

2/5 An Introduction to Basic Macroeconomic Markets 9

"Fear the Boom and Bust": Keynes vs. Hayek Rap Battle

 
2/7   9      
2/9   9    
2/12 Dynamic Change, Economic Fluctuations, and the AD-AD Model 10   The Phillips Curve (Macro Review) Macro 3.4

Macro 3.5- Graphing Practice (AP Economics)

Macro Unit 3- Practice Questions #1

2/14   10

Inflation- Cost-push & Demand-pull- Macro 3.6

 

Macro 3.7- Fiscal Policy: Non-discretionary vs Discretionary "AP Macro"

 

2/16 Fiscal Policy: The Keynesian View 11  

Macro 3.8- Classical vs. Keynesian Aggregate Supply- Macroeconomics

 
2/19 11

Macro 3.9- Multiplier Effect, MPC, and MPS (AP Macroeconomics)

 

The Multiplier Effect- Macro 3.9B (Technical Tuesday)

 

Macro 3.11- Multiplier and Spending Practice- AP Macro

 

Macro 3.12- Multiplier and Taxes Practice

Macro 3.10- Calculating the Spending Multiplier

2/21   11  

Aggregate Demand and Supply Practice- Macro 3:15

2/23 Fiscal Policy, Incentives, and Secondary Effects 12  
2/26   12  
2/28   12      
3/2   Midterm II  
3/5   Spring Break  
3/7   Spring Break  
3/9 money and the Banking System Spring Break    
3/12   Special Topic 4

The Financial Sector - Macroeconomics 4.1

 

Macro 4.2- Functions of Money

 

Macro Unit 4 Summary- Money, Banking, & Monetary Policy

3/14   Econ Challenge for HS Students

No Class

Time Value of Money- Macroeconomics 4.3

 

Macro 4.4- Interest Rates: Real vs Nominal Practice

 

Macro 4.5- The Federal Reserve System- Quick Overview

3/16 13

Monetary Policy and the FED- EconMovies #9: Despicable Me

 

 

3/19 13

The Money Market- Macroeconomics 4.6

 

Money Supply Shifters- Macroeconomics 4.7

How Banks Create Money and the Money Multiplier- Macro 4.8

Macro 4.9- Monetary Policy Practice

 

Macro 4.11- Money Multiplier

 

Macro 4.10- Graphing Monetary Policy Practice

 

Macro 4.12- Money Multiplier Practice

 

3/21 Modern Macroeconomicss 14  

Bank Balance Sheets Practice- Macro 4:13

 

Macro 4.14- Loanable Funds & Crowding Out

Fiscal & Monetary Policy Review

 

3/23   14  

Money Market vs. Loanable Funds Market- Macro Unit 4.15

 

Our WEIRD economy and liquidity traps- Macro 4.16

 

 
3/26   14        
3/28 Macroeconomic Policy, Economic Stability, and the Federal Debt 15    
3/30   No Class Study Guide

4/2    No Class
   
4/4   Special Topic 6 Macroeconomics - Chapter 21: Economic Growth, the Financial System, and Business Cycles
4/6   Midterm III

Economic Growth and LRAS- Macro 3.14

4/9 Creating an Environment for Growth and Prosperity 16

Macroeconomics - Chapter 22: Long-Run Economic Growth: Sources and Policies

4/11   16  
4/13   16        
4/16 Institutions, Policies, and Cross-Country Differences in Income and Growth 17      
4/18   17

Comparative Advantage and Terms of Trade -ACDC Econ 1.3

 

Econ 1.4 Comparative Advantage: ACDC Econ

 

Econ 1.5 Comparative Advantage Practice: Output and Input Questions-AP Economics

 

4/20   17

Macroeconomics - Chapter 09: Comparative Advantage and the Gains from International Trade

Comparative Advantage Practice

4/43 Gaining From International Trade 18  

 

Look back at the first couple days for more suggestions

Macro Unit 1- Practice Questions #2

4/25   18  
4/27   18    
4/30   Special Topic 5 Study Guide For Final

Do not forget that mindtap has extras to help you practice
   5/2   Study Day    

he Final will be on the official scheduled date and time.  Please consult your Schedule of Classes