ECON 201   Spring 2006

Principles of Macroeconomics

201-004 Syllabus

201-005 Syllabus

201-006 Syllabus

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Classroom Conduct and Expectations

Lectures

Class Introduction: 

Sections    004     005     006

1 - Thinking Like an Economist

Frank & Bernanke, ch. 1

Becker, "Should the Purchase and Sale..."

Carden, "That Taco Bell Brouhaha"

2 - The Language of Graphs

Frank & Bernanke, Appendix to ch. 1

3 - The Gains from Trade and Specialization

Frank & Bernanke, ch. 2

Cox, "Why is Economics so Boring?"

4 - The Evolution of Markets and Market Institutions

Friedman, "In Defense of Property"

5 - The Origin of the "Dismal Science"

Levy and Peart, "The Secret History of the Dismal Science"

6 - Introducing Supply and Demand

Frank & Bernanke, ch. 3

Hayek, "The Use of Knowledge in Society"

Roberts, "A Marvel of Cooperation..."

Sanderson, "The Price is Right"

Roberts, "The Reality of Markets"

7 - Macroeconomic Issues

Frank & Bernanke, ch. 4

8 - Macroeconomic Accounting

Frank & Bernanke, ch. 5 and 6

9 - Growth, Labor Productivity, and Capital

Frank & Bernanke, ch. 7

Frank & Bernanke, ch. 8

Garfield, "The Case Against a Higher Minimum Wage"

Frank & Bernanke, ch. 9

10 - From Micro to Macroeconomics

Frank & Bernanke, ch. 12

11 - Marshall and Keynes on Self-Regulating Markets

Frank & Bernanke, ch. 13

Reich, "Keynes as Savior"

12 - Keynesian Income-Expenditure Analysis

Frank & Bernanke, ch. 13

Handouts: Derivation of Investment Multiplier, Derivation of Tax Multiplier,

Keynesianism Study Problem

13 - Keynesianism: Summary, Exercises and Critique

Handouts: Keynesianism in One Page, Economics of Keynes

Garrison, "The Trouble with Keynes"

14 - Financial Markets and Institutions

Frank & Bernanke, ch. 11, pp. 281-290

15 - Money, Banking and the Fed

Frank & Bernanke, ch. 10, pp. 259-273

Handout: Fed Structure Quiz

16 - (Optional) History of Money and Banking in the U.S.

Rothbard readings

17 - Keynesian Monetary Theory

Frank & Bernanke, ch. 14, pp. 367-379

18 - Monetarism I

Frank & Bernanke, ch. 10, pp. 274-277

19 - Monetarism II

        Fonseca and Ussher, "Milton Friedman and 'The Chicago School'"

20 - Federal Reserve Policy

Frank & Bernanke, ch. 10, pp. 270-273

Frank & Bernanke, ch. 14, pp. 377-393

Handout: Monetary Policy Quiz

21 - Exercises in Federal Reserve Policy

Handout: Federal Reserve Policy Q&A

22 - Capital-Based Macroeconomics

Garrison, "The Austrian School: Capital-Based Macroeconomics"

Garrison, "The Austrian Theory of the Business Cycle" and

Handout: Capital-Based Macro Q&A

23 - Macroeconomic Schools: Summary Comparison

Frank & Bernanke, ch. 15

Garrison, "From Keynes to Hayek: The Marvel of Thriving Economies"

Handout: Macroeconomic Schools - A Comparison 

Handouts

Math & History Skills Prerequisite to ECON 201

Answers to Math and History Skills

Math Skill Problems

Math Skill Answers

Q&A: Introduction to Economics

Q&A: Market Institutions; Supply & Demand

Q&A: Intervention & Introduction Macro

Derivation of the Investment Multiplier

Derivation of the Tax Multiplier

Keynesianism Study Problem

Answers to Keynesianism Study Problem

Keynesianism in One Page

Economics of Keynes

Q&A: Keynesian Economics

Fed Structure Quiz

Monetary Policy Quiz

Q&A: Monetary Economics

Q&A: Federal Reserve Policy

Bonus Point Alternative

to Attending Stiglitz Lecture

Bonus Point Answers

Q&A: Capital-Based Macroeconomics

Macroeconomic Schools - A Comparison

Ivan and the Brickyard

(A Tale of Capital Misallocation)