| COURSE NUMBER: |
ECON 310 |
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| COURSE TITLE: |
Intermediate Applied Macroeconomic Theory |
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| NAME OF INSTRUCTOR: |
Dr. Gerda Kits |
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| CREDIT WEIGHT AND WEEKLY TIME DISTRIBUTION: |
credits 3 (hrs lect 3 - hrs sem 0 - hrs lab 0) |
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| COURSE DESCRIPTION: |
Expansion and deeper examination of the macroeconomic theoretical
models for the functioning of an open macroeconomy, like that of
Canada. This will include models that produce calculable estimates of
the main macroeconomic variables such as total output, the general
price level and inflation, levels of employment, and causes and impact
of fluctuations in the economy’s performance. Descriptive and
evaluative data on the Canadian situation will be included and examined
throughout.
Prerequisites: ECON 203, 204 | |
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| REQUIRED TEXTS: |
Abel, Bernanke, Croushore and Kneebone. Macroeconomics: Sixth Canadian Edition. Pearson, 2012. |
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| MARK DISTRIBUTION IN PERCENT: |
|
| Tutorial quizzes | 10% | | Participation | 10% | | Course project | 25% | | Midterm 1 | 15% |
| Midterm 2 | 15% |
| Comprehensive Final Exam | 25% |
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| 100% |
|
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| COURSE OBJECTIVES: |
The financial crisis and recession of 2008-2009 triggered heated
debates about macroeconomic policy in Canada and globally, which have
continued today. Economists and policy-makers disagree about issues
around economic growth, recessions, inflation and unemployment, leading
them to propose drastically different policies based on their
understandings of how the economy works. This course is intended to
help you become more informed about the macroeconomic theories that lie
behind these debates and thus be better equipped to make a contribution
to such debates.
By the end of this course, you should be able to:
- Locate and use data to describe what is happening in the macroeconomy.
- Explain the causes and/or predict the consequences of events related to the macroeconomy.
- Propose and justify policy solutions for macroeconomic problems.
- Use
evidence and arguments, including arguments from various Christian
perspectives, to critically assess macroeconomic issues, theories, and
policies.
This course examines some of the same material
covered in the introductory economics courses, but in more depth and
with more use of the “rigorous” analytical techniques (especially
equations and graphs) that economists typically rely on to develop
these theories. This is important particularly for students who hope to
continue their studies in economics, and those who intend to pursue a
career in public policy, since these models are heavily used both
in economic theory and in policy-making. |
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| COURSE OUTLINE: |
- Jan. 5 Welcome and introduction to the course
- Jan. 8-12 The measurement and structure of the Canadian economy (Ch. 2)
- Jan. 15-19 Productivity, output and employment (Ch. 3)
- Jan. 22-26 Consumption, saving and investment (Ch. 4)
- No class Jan. 24 – I.S. Conference
- Jan. 29-31 Saving and investment in the open economy (Ch. 5)
- Feb. 2-7 Long-run economic growth (Ch. 6)
- Feb. 9 Midterm #1
- Feb. 12-16 The asset market, money and prices (Ch. 7)
- Feb. 19-23 No classes - reading week
- Feb. 26-Mar. 5 Business cycles (Ch. 8) and the IS-LM/AD-AS model (Ch. 9)
- Mar. 7-9 Classical business cycle analysis (Ch. 11)
- Mar. 12-16 Keynesian business cycle analysis (Ch. 12)
- Mar. 19 Midterm #2
- Mar. 21-23 Unemployment and inflation (Ch. 13)
- Mar. 26-28 Monetary policy (Ch. 14)
- Mar. 30, Apr. 2 No classes - Good Friday and Easter Monday
- Apr. 4-9 Fiscal policy (Ch. 15)
- Apr. 11-16 Growth and stability on a finite planet (assigned readings)
- TBD Final exam (date to be set by Registry)
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THE KING'S UNIVERSITY