Assignment/ Chapters in textbook to Week Topics/Themes of lecture Assessment be covered in lecture 1 Homework 1 Review of demand, supply, and market equilibrium Chapters 1 and 2 given out National accounts (GDP), price indexes (CPI), and Chapter 10-1, 10-2 labor market statistics Growth and the business cycle in the United States 2 Homework 2 How the economy works in the long run: what Chapter 3 given out determines the amount of output and the distribution of income between wages and profits Chapter 10-4 Saving, investment, and the real interest rate: the loanable funds model Long run aggregate supply 3 Homework 3 What do banks do? Chapter 20, Section 1 given out How the amount of money is determined by the Chapter 4 central bank, commercial banks, and the public Chapter 5 (excluding The link between money and prices/inflation in the appendix to chapter 5) long run, the theory of the “quantity money”; quantitative theory and aggregate demand Chapter 10-3 The costs of inflation; nominal and real interest rates 4 Homework 4 The IS-LM model describing the determination of the Chapters 11 and 12 level of output and interest rates in the short run The role of the government: fiscal and monetary policy The great depression and the great recession 5 Homework 5 The IS-LM model and aggregate demand Chapter 12-2 The Phillips curve and aggregate supply Chapter 14 The aggregate demand and supply model in the Chapter 10-3, 10-4, 10-5 short, medium, and long term Stabilization policy 6 Homework 6 The Open Economy in the long- and the short-term Chapters 6 and 13 (excluding appendixes) 7 No homework Interpreting and discussing global financial crisis and Chapter 20, Section 2 its aftermath Review: In addition to the instructor’s review, students should bring any lingering questions to class prior to the final exam. 8 Final Exam Exam
Week Assignment/ Assessment Topics/Themes of lecture Chapters in textbook to be covered in lecture 1 Homework 1 given out Review of demand, supply, and market equilibrium National accounts (GDP), price indexes (CPI), and labor market statistics Growth and the business cycle in the United States Chapters 1 and 2 Chapter 10-1, 10-2 2 Homework 2 given out How the economy works in the long run: what determines the amount of output and the distribution of income between wages and profits Saving, investment, and the real interest rate: the loanable funds model Long run aggregate supply Chapter 3 Chapter 10-4 3 Homework 3 given out What do banks do? How the amount of money is determined by the central bank, commercial banks, and the public The link between money and prices/inflation in the long run, the “quantity theory of money”; the quantitative theory and aggregate demand The costs of inflation; nominal and real interest rates Chapter 20, Section 1 Chapter 4 Chapter 5 (excluding appendix to chapter 5) Chapter 10-3 4 Homework 4 The IS-LM model describing the determination of the level of output and interest rates in the short run The role of the government: fiscal and monetary policy The great depression and the great recession Chapters 11 and 12 5 Homework 5 The IS-LM model and aggregate demand The Phillips curve and aggregate supply The aggregate demand and supply model in the short, medium, and long term Stabilization policy Chapter 12-2 Chapter 14 Chapter 10-3, 10-4, 10-5 6 Homework 6 The Open Economy in the long- and the short-term Chapters 6 and 13 (excluding appendixes) 7 No homework Interpreting and discussing global financial crisis and its aftermath Review: In addition to the instructor’s review, students should bring any lingering questions to class prior to the final exam. Chapter 20, Section 2 8 Final Exam Exam