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Intermediate Macronomics

Rutgers University
The State University of New Jersey
Department of Economics – CCAS
Summer 2013

Course Title: Intermediate Macroeconomics (index#92020)
Economics 204/Section J2 (Dates: 7/22 – 8/14)
Instructor: Dr. I-Ming Chiu
Office: ATG Hall, 328
Phone 856-225-6012
E-mail address: ichiu@camden.rutgers.edu
Class Meeting: ATG 205. 10:50 AM – 1:30 PM (Mon, Tue, Wed, and Thu)
Office Hours: 1:30 – 3:30 PM, Tuesday/Thursday or by appointment

Course Description:
Macroeconomics is a branch of economics that focuses on the aggregate economy rather than individual markets. This course presents a more advanced treatment of the topics covered in Principles of Macroeconomics. The purpose of this course is to examine the determination of income, employment, price level, interest rates and exchange rates in a market economy. Theoretical models and practical examples will be used to illustrate how these macro variables are determined and connected in the short and long run. The issues of business cycles theory and stabilization policies will also be investigated. Special attention will be paid to stabilization policies and their impacts on the economy.

Required Textbook:
Mankiw, N. Gregory, Macroeconomics, 7th Edition (2010).

Class Material:
Handouts, readings, and assignments will be posted on Sakai website for you to download.

Useful Websites:

Grading:Contribution to Term Grade
Participation (extra credit points) 5%
Attendance 10%
Take-home problems 40%
Midterm (One take home and one classroom) 30%
Final Exam (comprehensive; classroom test) 20% 

Grading Policy:
Term grades will be based on the final distribution of the above grading weights.

Exam Preparation:
The exam questions will include short analytical questions. The material for these questions will be drawn from three sources: (i) assigned homework problems, (ii) course lectures, (iii) reading material distributed in class.

Class Participation:
Class attendance is essential for learning well in this class. When you miss any classes, it would cost you more time to learn the material by yourself. Please follow my three suggestions and you will find they are helpful in any of your courses taking; (1) Attend every classes and take notes. (2) Review everything you learn (read the handout, notes, textbook, and any additional supplements) from the class on the same day, never put it off. (3) Ask questions whenever you have difficulty understanding any part of my lecture.

Academic conduct:
Make up exams will be given only upon prior notice. I request prior knowledge of any expected absence from an exam. If this is not feasible, you can document a valid reason for missing the exam. Unexcused absence on any exam will result in a grade of zero. Dishonesty in seeking an excused absence or in the examination process will result in a grade of zero on the exam involved and in University discipline.

Course Outline:

Chapter 1 The Science of Macroeconomics
Chapter 2 The Data of Macroeconomics
Chapter 3 National Income: Where It Comes From and Where It Goes
Chapter 4 Money and Inflation
Chapter 5
Exam 1
The Open Economy
(Date: TBA)
Chapter 6 Unemployment
Chapter 7 Economic Growth I: Capital Accumulation and Population Growth
Chapter 8 Economic Growth II: Technology, Empirics, and Policy
Chapter 9 Introduction to Economic Fluctuations
Chapter 10
Exam 2
Aggregate Demand I: Building the IS-LM Model
(Date: TBA)
Chapter 11 Aggregate Demand II: Applying the IS-LM Model
Chapter 12 The Open Economy Revisited
Chapter 13 Aggregate Supply and the Short-Run Tradeoff Between p and m
Chapter 14 A Dynamic Model of Aggregate Demand and Aggregate Supply
Chapter 15 Stabilization PolicyClass meeting time, Wednesday, August/14.