Intermediate Macroeconomics Fall 2012, Economics 220:321, Section 13 September 4th December 11th Tuesday & Friday 11:30am

m - 12:50pm Murray Hall 114, College Ave Instructor: Georgia Bush Office: Room 408, New Jersey Hall, College Ave. Email: gbush@econ.rutgers.edu Office Hours: Tuesdays 10:3011:30am, 2:303:30pm or by appointment. Exam dates: Midterm: October 23rd or October 26th, during class time Final: December 20th, 8-11am. Course level: Core course Economics Department Learning Objectives: This class analyzes general equilibrium models of a monetary economy. Along the way, a student should gain a thorough understanding of the IS/LM model, the effect of monetary and fiscal policy on output and prices, the factors effecting economic growth, and issues related to the long-run solvency of the fiscal sector. Course goals: In this course you will learn the basic macroeconomic concepts (aggregate production, savings and investment, money and inflation) and the dynamics of key aggregate variables (GDP, inflation, unemployment, interest rates) in order to understand -how economists analyze the short-run dynamics of the aggregate economy, -what issues are involved in the conduct of monetary and fiscal policy, and -what drives long-run economic growth. Textbook: Macroeconomics: Policy and Practice, Frederic S. Mishkin, 2011, 1st edition (value edition is acceptable) ISBN-10: 0321436334 | ISBN-13: 978-0321436337 Prerequisites: 220:102 Intro to Micro and 220:103 Intro to Macro, and Calculus I (640:135 or 640:151, or equivalent) Syllabus subject to change as the course progresses. Grading: Midterm Final Weekly quizzes 40% 40% 20%

Grade ranges: 90+ = A, 85-89.9 = B+, 80-84.9 = B, 7579.9 = C+, 70-74.9 = C, 60-69.9 = D, below 60 = F Check sakai.rutgers.edu regularly for course info. Contact me if you dont know how to access Sakai. If I dont hear from you, I will assume you do have access.

Intermediate Macro, Fall 2012

220:321:13

Instructor: Georgia Bush

Miscellaneous: No makeup exams unless under extraordinary circumstances and with substantiation. Grade of 0 for missed exams or quizzes. No makeup exams for travel conflicts. No cheating, cheating will be reported. See the following links on Student conduct: http://www.rci.rutgers.edu/~judaff/code.htm Academic integrity: http://academicintegrity.rutgers.edu/files/documents/AI_Policy_9_01_2011.pdf
Violations include: cheating, fabrication, plagiarism, denying others access to information or material, and facilitating violations of academic integrity.

Students are expected to attend all classes. If you expect to miss one or two classes because of illness or a family emergency, please use the University absence reporting website https://sims.rutgers.edu/ssra/. Indicate the date and reason for your absence. An email is automatically sent to me. Course Outline: I: Introduction Intro, Measuring Macro Data II: Basics Aggregate Production and Productivity Saving and Investment, Money and Inflation III. The Short-Run Intro to Business Cycles, The IS Curve Monetary Policy and Aggregate Demand (AD curve) Aggregate Supply and the Phillips Curve (AS curve) AD-AS: The Aggregate Demand and Supply Model Chapter Week Ch 1,2 1 (9/4) Ch 3 Ch 4,5 Ch 8,9 Ch 10 Ch 11 Ch 12 2 (9/11) 3 (9/18) 4 (9/25) 5 (10/2) 6 (10/9) 7 (10/16)

MIDTERM
IV. Policy Macro Policy and AD-AS analysis Fiscal Policy and the Government Budget The Role of Expectations in Macro Policy Modern Business Cycle Theory (time permitting) VI. The Long-Run The Sources of Growth and the Solow model Drivers of Growth: Technology, Policy, and Institutions Last Day Ch 13 Ch16 Ch21 Ch22 Ch 6 Ch 7

8 (10/23)
9 (10/30) 10 (11/6) 11 (11/13) 12 (11/20) 13 (11/27) 14 (12/4) 15 (12/11)

December 20th FINAL EXAM

FINAL

Key dates: Tuesday, September 4: First day of classes Tuesday, October 23 MIDTERM or Friday October 26: Wednesday, October 29: Last day to drop with a W grade Wednesday, November 21: Change in designation class day: FRIDAY CLASSES MEET Th., Nov. 22 - Sun., Nov. 25: Thanksgiving recess; no classes Thursday, December 20: FINAL EXAM