Intermediate Macroeconomics
Fall 2013
Jeffrey Parker
Course Information
Course Content
Class Format
Prerequisites
Office Hours
Exams and Other Assignments
Grading
Texts and Readings
Course Content
This course is a detailed, but non-mathematical, examination of modern macroeconomics. Its central subject matter concerns the relationships among major aggregate economic variables such as national output, the interest rate, unemployment, and inflation. Emphasis will be placed both on theory and on empirical tests using contemporary and historical data.
This course is offered as an alternative to Economics 314: Macroeconomic Theory. Students who have a strong quantitative orientation should take Econ 314 instead. It is not generally a good idea to take both 304 and 314.
Class Format
This class meets for three 50-minute lecture/conference sessions per week on Mondays, Wednesdays, and Fridays at 9:00am in Vollum 116. The format of class sessions will vary, including components of lecture, discussion, and sometimes other participatory activities.
Prerequisites
You should have completed Economics 201: Introduction to Economic Analysis prior to taking this course. Because Econ 201 now includes relatively little analysis of macroeconomics, there will be no presumption of familiarity with macroeconomics. We will, however, assume that you are comfortable with basic economic concepts such as supply and demand, elasticity, the theories of the consumer and the firm, competitive equilibrium, and imperfect competition.
Office Hours
The instructor will hold office hours in Vollum 229 on Mondays and Wednesdays from 1:30 to 2:30pm and on Tuesdays from 10 to 11am.
Students for whom these hours are inconvenient may make appointments at other times by contacting the instructor at extension 7308 or by email to parker@reed.edu.Exams and Other Assignments
Exams: There will be one mid-term exam, which may include both take-home and in-class components. The final exam will be comprehensive, but will cover the second half of the course more intensively.
Homework: There will be semi-regular homework assignments for this course. Some of these will consist of problems from the textbook or problems created by the instructor. Some may also include hands-on projects using data to examine macroeconomic behavior. No prior econometric background is assumed, though those who have taken Math 141, Econ 311, or Econ 312 will find these skills handy at times. These parts of the homework assignments will require the use of Excel or Stata, which are available on Reed computers located in the various labs around campus. Homework problems and projects will usually be due at the beginning of class on Fridays. They will be returned on Monday, at which time we may discuss specific points from the assignment. Late work will be penalized. No homework will be accepted after 3:00pm of the due date without a documented medical or similar excuse.
Daily Problems: On most days on which there is no problem set due, there will be a daily problem to submit at the beginning of class. Unlike homework sets (which build on material we have already covered in class), the daily problems focus on the material to be covered that day. They are designed to stimulate you to think about the topics that we will discuss in class and sometimes to provide a basis for the day's class discussion. Because they are related to the subject discussed in class, late submissions are not allowed, nor are submissions from students who do not attend class.
Grading
Grades will be based on all information the instructor has about your level of understanding of macroeconomics. This includes evidence from exams, homework, other assignments, class participation, and individual discussions.