ECON 3080-005 Intermediate Macroeconomic Theory

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ECON 3080-005 Intermediate Macroeconomic Theory
Department of Economics
Intermediate Macroeconomics-ECON 3080-005, Fall 2011
Office Hours:
Steven M. Smith
ECON 309c
[email protected]
MWF: 12:00-12:50, Aug 22-Dec 9, MUEN E432
T 10:30am-12:00pm, W 1:00pm-2:30pm and by appointment.
Course Description
Macroeconomics is the study of the aggregate economy. We will explore the determinants of both long
term trends and short term fluctuations (business cycles) and explore the roles that consumers, firms,
and governments play in the economy. Over the course of the semester we will cover long run growth,
aggregate demand and supply, unemployment and wages, inflation, monetary and fiscal policy, as well
as applying the tools of analysis to the recent recession. In addition, we will look at the microeconomic
underpinnings of some of the theory. In the end you will have the technical tools necessary to
intelligently read about and discuss current and past macroeconomic events.
1. ECON 1000 or ECON 2020 or equivalent from another institution
2. ECON 1078 and 1088, or MATH 1300, or MATH 1310, or MATH 1081, or MATH 1080, 1090 and
1100, or APPM 1350, or equivalent from another institution
This course requires basic calculus and algebra tools. It will be assumed that students posses these and
there will be no formal math review.
Charles I. Jones (2011). Macroeconomics, W. W. Norton & Company, 2nd Edition.
The textbook is considered required. Due to time constraints, not all the material can be presented in
lecture but may still appear on the exam. Reading the book prior to lecture is a great way to make the
learning process easier. The second edition includes new analysis of the recent economic crisis. You can
consider using the original edition or the Economic Crisis Update version, but be warned that some
chapters we will cover are not included in these prior editions.
Other short readings will be provided on the course website.
Attendance of the first three classes is mandatory or you may be administratively dropped from the
course. Beyond this, attendance will not be taken. In some cases lecture will extend beyond the
content of the textbook, so it is strongly encouraged you attend lecture. My lecture notes will not be
available, so if you do miss a class you should plan on getting notes from a classmate. Lectures are
intended to cover the material from the book as well as connect the concepts to real world examples,
providing additional in class practice when appropiate.
Grading Policies
There will be 4 components of your final grade.
Exam 1
Friday, October 7th, in class
Exam 2
Friday, November 11th, in class
Exam 3
Wednesday, Dec ember 14th, 1:30pm-4:00pm
Homework 25%
Various Dates; see course schedule
Grading Scale
The exams will not be cumulative beyond the cumulative nature of the material. I do not give make-up
exams nor do I give exams early. Any unexcused absence on an exam day will result in a zero for that
exam. If you do have a valid emergency which precludes you from taking the exams on the given date
your final score will be recalculated reweighting the other two exams 37.5%. Please communicate any
conflicts with exam dates as soon as possible; you will find instructors are a lot more flexible when you
do not wait until the last minute to deal with conflicts. Finally, no cell phone calculators are permitted
for exams. Please bring a basic calculator or be prepared to do calculations with pen and paper.
Over the semester there will be 4 problem sets and 2 article analyses. No late assignments will be
accepted and no assignment will be dropped from your grade.
Article Analyses: Throughout the semester I will post articles on the course website. Two of these will
require you to write up a one page (single spaced) analysis and submit it on CUlearn by 5:00pm on the
due date. Each will make up 2.5% of your final grade.
Problem Sets: As we progress through the semester I will post 4 problem sets on CUlearn. A hard copy
is due at the beginning of class on the given date. They are intended to apply the theory and concepts
from the textbook and lecture and help prepare you for the exams. I encourage you to work in small
groups on these assignments, though I require everyone to turn in their own copy. Each problem set
will make up 5% of your overall grade.
Tentative Course Schedule
Due dates and exam dates are firm. Topic coverage is subject to change.
August 22-26
August 29-Sep. 2
September 5-9
September 12-16
Book Chapter
Intro to Macro
Jones 1, 2 & 3
Aggregate Production
Jones 4
Solow Growth Model
Jones 5
Solow Growth Model
Jones 5
September 19-23
September 26-30
October 3-7
Romer Growth Model
October 10-14
October 17-21
October 24-28
Oct. 31-Nov. 4
November 7-11
November 14-18
November 21-25
Nov. 28-Dec. 2
December 5-9
Wednesday, Dec. 14th
Jones 6
Jones 7
Jones 8
Short Run & IS curve
Jones 9 & 11
Monetary Policy/
Jones 12
Phillips Curve
AS-AD Model
Jones 13
AS-AD Model
Jones 13
The Great Recession
Jones 10 & 14
Jones 15
Fall Break
Investment &
Jones 16 & 17
Open Economies
Jones 18 & 19
Final Exam
No Class, September 5.
-Article Analysis 1, September
-Problem Set 1, September 19th
-Problem Set 2, October 5th
-Exam 1, Friday Oct. 7th
-Article Analysis 2, October 31st
-Problem Set 3, November 9th
-Exam 2, Friday Nov. 11th
No Class
Problem Set 4, December 9th
Exam 3, Wednesday, 1:30-4:00
Office Hours
These are for your benefit, please take advantage of them. It is an excellent opportunity to get
individual or small group help to clarify concepts from class. If my office hours do not work for you due
to another class or work, please email me and we can arrange a time to meet.
Please use email wisely. It will be your best option to communicate with me outside of office hours and
lecture. I will do my best to respond to emails in a timely fashion, usually less than 24 hours. If your
question has to do with clarification, it may be difficult to explain fully over email, so I will suggest
coming to office hours. If I feel the entire class could benefit from the clarification, I will do so in lecture.
Finally, I will be hesitant to answer emails which ask something administrative which is included on the
syllabus, i.e. when is the exam or are any assignments dropped?
University Policies
Students with Disabilities
If you qualify for accommodations because of a disability, please submit to me a letter from Disability
Services by September 9th so that your needs may be addressed. Disability Services determines
accommodations based on documented disabilities. University policies regarding disabilities are
available at www.colorado.edu/disabilityservices/. Disability Services can be contacted by telephone at
(303) 492 8671 or in person at Willard 322.
Religious Observances
Campus policy regarding religious observances requires that faculty make every effort to deal
reasonably and fairly with all students who, because of religious obligations, have conflicts with
scheduled exams, assignments, or required attendance. If you have a conflict due to a religious
obligation, please see me at least one full week in advance so that alternate arrangements can be
made. Policies regarding religious observances are available at
Classroom Behavior
Students and faculty each have responsibility for maintaining an appropriate learning environment.
Those who fail to adhere to such behavioral standards may be subject to discipline. Professional
courtesy and sensitivity are especially important with respect to individuals and topics dealing with
differences of race, culture, religion, politics, sexual orientation, gender, gender variance, and
nationalities. Class rosters are provided to the instructor with the student's legal name. I will gladly
honor your request to address you by an alternate name or gender pronoun. Please advise me of this
preference early in the semester so that I may make appropriate changes to my records. Polices
regarding classroom behavior are available at http://www.colorado.edu/policies/classbehavior.html and
at http://www.colorado.edu/studentaffairs/judicialaffairs/code.html#student_code.
Discrimination and Harassment
The University of Colorado at Boulder policy on Discrimination and Harassment, the
University of Colorado policy on Sexual Harassment, and the University of Colorado policy on Amorous
Relationships apply to all students, staff, and faculty. Any student, staff, or faculty member who believes
s/he has been the subject of sexual harassment or discrimination or harassment based upon race, color,
national origin, sex, age, disability, creed, religion, sexual orientation, or veteran status should contact
the Office of Discrimination and Harassment (ODH) at (303) 492 2127 or the Office of Judicial Affairs at
(303) 492 5550. Information about the ODH, the above referenced policies, and the campus resources
available to assist individuals regarding discrimination or harassment can be obtained at
Academic Misconduct
All students of the University of Colorado at Boulder are responsible for knowing and adhering to the
academic integrity policy of this institution. Violations of this policy may include cheating, plagiarism, aid
of academic dishonesty, fabrication, lying, bribery, and threatening behavior. All incidents of academic
misconduct shall be reported to the Honor Code Council ([email protected], (303) 735 2273).
Students who are found to be in violation of the academic integrity policy will be subject to both
academic sanctions from the faculty member and non-academic sanctions (including but not limited to
university probation, suspension, or expulsion). Other information on the Honor Code can be found at
www.colorado.edu/policies/honor.html and at www.colorado.edu/academics/honorcode.
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