ECO-211-90, Introduction to Macroeconomics (SU13)
INSTRUCTOR: Kentaro Murayama
The course examines trends and fluctuations in the national and global economy; describes measurements of income and related statistics from the national income accounts, as well as measurements of cost of living and employment; analyzes market interactions among consumers, businesses, government, and the rest of the world; examines the power of monetary and fiscal policies to reduce economic fluctuations; and discusses global interdependences resulting from international trade, foreign investment, balance of payment, and the exchange rates
1. Apply economic principles to examine market interactions among consumers, businesses, government, and the rest of the world.
2. Describe measurements of macroeconomic performance and explain trends and fluctuations in the national and global economy.
3. Compare and contrast the workings of monetary policy and fiscal policy both in the short and long run.
4. Explain global inter-dependencies in trade, investment, and exchange rates.
5. Integrate arts and science to evaluate positive and normative economic statements. Use careful observation and measurement of data to settle disagreements of positive matters and explain why disagreements on a normative matter often depend on personal judgments and are usually settled in the political, not the scientific arena.
Web-based course: the course is entirely held online.
Therefore, the course emphasizes weekly readings (textbook as well as additional materials), active participation to online discussions, proactive learning style (e.g. asking questions, engaging vulnerary study groups) and constant interactions with the instructor throughout the course (e.g. ask questions via emails or periodical chat sessions)
REQUIREMENTS AND ASSIGNMENTS:
In the news (weekly: application of econ concepts to current events) - 40 Points
Review quizzes (weekly: 25 multiple choice questions self-graded quiz) - 25 Points
The state of the economy progress Report 1: basic economics indicators - 5 Points
The state of the economy progress report 2: policy indicators - 10 Points
The state of the economy: final report - 20 Points
REQUIRED TEXT(S) OR MATERIALS
Krugman, P. & Wells, R. (2012). Macroeconomics Second Edition in Modules. Worth Publishers. ISBN: 9781429287296
RECOMMENDED READINGS OR MATERIALS:
Journal articles, databases, and/or other sources of information will be included on individual assignments.
READINGS AND/OR ASSIGNMENTS TO BE DONE PRIOR TO THE FIRST CLASS:
Prior to the first day of class, read modules 1, 2, and 3 of the textbook, review the materials posted in the course website, and introduce yourself to the class using the “Introductions” forum in Joule.