Econ 211B Course Outline

Introduction to Macroeconomics

S.Y. 2011-2012

First Semester

 

PRELIMS

·               ·       Definition of Economics

·               ·      Divisions of Economics (macro and micro)

·               ·      Methods of Economics

·               ·      Reasons of studying Economics

·               ·      Principles (opportunity cost, rule of law, property rights, marginalism,
                    cost benefit analysis)

·               ·      Production Possibilities Frontier

·               ·      Economics problems and Economic Systems

·               ·      Circular Flow

·               ·      Demand and Supply

·               ·     Equilibrium

      ·     Elasticity

MIDTERMS

·         The great depression

·         Goals of macroeconomics or three macroeconomic agenda

·         Circular flow with the four sectors of the economy

·         Business cycle

·         GNP and GDP

·         National Income Accounting

·         Mainstream (AS under different time horizons: Keynsian as Horizontal, classical as vertical)

·         Consumption and investment functions

·         Multiplier

·         Fiscal Policy

·         Role of the government in the economy (taxation)

·         Money and BSP

·         Monetary Supply

·         Money Demand

·         Equilibrium in money and goods market (policy mix)

FINALS

·         Aggregate Demand curve

·         Unemployment

·         Inflation

·         Aggregate Supply

·         Equilibrium of AD and AS

·         Theories of Development (introduce)

·         Circular Flow

·         Open-economy

·         International Economics (e.g: exchange rate, gains from international trade and comparative dynamics)

Textbooks: Principles of Economics by N. Gregory Mankiw, 5th Edition
                   Principles of Economics by Case & Fair, 9th Edition