Parkes' Macroeconomics Assignments Page, Fall 2011


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       Tentative Schedule and Course Assignments:


              Final Exam, Chapters 23 - 35 on Thursday, November 17, 2011
                 From 8:15 am to 10:15 am:
          Class 2003 in Room 2111, Class 2004 in Room 2112, Class 2005 in Room 2103
                 



      PAST ASSIGNMENTS:

                             Week 10

            November 8, 2011     Chapter 33: Inflation, Disinflation, and Deflation

            • Chapter 33: Inflation, Disinflation, and Deflation
              • Effects of Inflation
                • Winners and Losers from Unexpected Inflation
                • Real versus nominal interest rate - The Fisher Effect
                • Costs of Inflation
              • Moderate Inflation and Disinflation - Definitions and Causes
                • The Great Disinflation of the 1980s
              • DEFLATION - Today's Issue
                • Effects of Unexpected Deflation
                • Effects if Expected Deflation
                • Examples: Japan, Europe today maybe?

            • Chapter 35: Open Economy Macroeconomics

            November 10, 2011     Chapter 35: Open Economy Macroeconomics
            • Finish Chapter 35: Open Economy Macroeconomics
              • Inflation and Real Exchange Rates
                • Purchasing Power Parity
                  • Big Mac Index
                  • Dollar and the Deficit
                • Exchange Rate Policies
                  • Exchange Rate Intervention and Foreign Exchange Reserves
                  • Exchange Rate Regime Dilemma: To Fix or Not To Fix
                  • Examples of fixed rates: Bretton Woods, Euro, Yuan
                  • Macroeconomic Policies and Exchange Rates
            • Day 19 PPT - None Made.
            • Krugman's Chapter 35 PPT - Second Edition


                           Week 9

          November 1, 2011     SPECIAL SECTION! Chapter 10: ISLM - HANDED OUT IN CLASS


          November 3, 2011     Chapter 33: Inflation, Disinflation, and Deflation
          • Monetary Neutrality

          • Chapter 32: Labor Markets and Unemployment
            • Three Types of Unemployment
              • Job Creation and Job Destruction
              • 1. Frictional
              • 2. Structural
              • 3. Cyclical
            • The Natural Rate of Unemployment
              • Unemployment and the business cycle
              • Okun's Law

          • Chapter 33: Inflation, Disinflation, and Deflation
            • Money and Inflation
              • Money and Prices Revisited
              • Classical Model of the Price Level
            • Inflation Tax
              • seigniorage
              • Cost, real inflation tax
            • Hyperinflation - One Cause: seignoirage
              • The Logic of Hyperinflation
              • Brazil
              • Yugoslavia
              • Zimbabwe
          • Krugman's Chapter 33 PPT - Second Edition (Like our Chapter 34)
          • Day 17 PPT - Thoughts and Questions

                           Week 8

          October 25, 2011     Chapter 30: Money, Banking, and the Federal Reserve System


          October 27, 2011     Chapter 31: Monetary Policy

                           Week 7

          October 18, 2011      Chapter 29: Fiscal Policy

          • Finish Chapter 29: Fiscal Policy
            • 1. The Basics
            • 2. Fiscal Policy and the Multiplier
              • Government Spending versus Taxes and their Multiplier Effects
              • How Much Bank for the Buck?
              • Automatic Stabilizers
            • 3. The Budget Balance
              • Saving (Borrowing) by the Government
              • Cyclically Adjusted Budget Balance
              • Should the Budget be Balanced?
            • 4. Long-Run Implications of Fiscal Policy
              • Deficits, Surpluses, and Debt
              • Problems With the Rising Government Debt
              • Deficits and Debt in Practice?
          • Day 12 PPT - U.S. Current Spending and Taxes
          • Krugman's Chapter 29 PPT, 2nd Edition


          October 20, 2011     REVIEW THE EXAM!!! and Chapter 30: Money, Banking, and the Federal Reserve System

          October 11, 2011     Chapter 27: Aggregate Demand and Aggregate Supply
          • Chapter 27: Aggregate Demand and Aggregate Supply
          • Aggregate Supply Curve
            • In the Short-Run slopes upward
            • Wage contracts make wages "Sticky" causing the upward slope
            • Shifts in AS
              • Changes in Commodity Prices
              • Changes in Nominal Wages
              • Changes in Productivity
            • In the Long Run Aggregate Supply is vertical - Called Potential Output
            • From the short-run to the long-run
              • wages change affecting business costs which affect suppliers and shift short-run AS
            • The Aggregate Demand Curve
              • Why the Aggregate Demand Slopes Downward
                • Wealth Effect
                • Interest Rate Effect
              • Why the Aggregate Demand Curve Shifts
                • Changes in Expectations
                • Changes in Wealth
                • Changes in the Stock of Physical Capital
                • Changes in Government Policies - Monetary and Fiscal Policy
          • Day 9 PPT - None Made
          • Krugman's Chapter 27 PPT - Krugman's Chapter 28 PPT - 2nd Edition

          October 13, 2011     Finish Chapter 27: Aggregate Demand and Aggregate Supply
          • Chapter 27: Aggregate Demand and Aggregate Supply
            • From the short-run to the long-run
              • wages change affecting business costs which affect suppliers and shift short-run AS
            • Shifts in AS
              • Changes in Commodity Prices
              • Changes in Nominal Wages
              • Changes in Productivity
            • Why the Aggregate Demand Curve Shifts
              • Changes in Expectations
              • Changes in Wealth
              • Changes in the Stock of Physical Capital
              • Changes in Government Policies - Monetary and Fiscal Policy
            • Day 10 PPT - Aggregate Demand Questions and Answers

              Mid-term Exam, Chapters 23 - 28 on Friday, October 14, 2011
                          Also study the Solow Growth Model                

                           Week 5

          WEEK 5: October 1 - 7, 2011     Happy Anniversary of the People's Republic of China

          • NO CLASSES UNTIL TUESDAY, OCTOBER 11, 2011

                           Week 4

          September 27, 2011     Finish Chapter 26 and Begin Chapter 28: Income and Expenditure

          • Problem Set #3: TURN IN THREE POLICY GRAPHS (10 points) - Savings Tax Incentive, Investment Tax Credit and Government Budget Deficit
                        The Graphs we began last class.
          • Real wages
          • Malthus - what's a Protestant Minister to say?
            • Chapter 28: Income and Expenditure
              • Autonomous Aggregate Spending (AAS or called Aggregate Expenditures (AE)
              • Consumer Spending
                • Consumption Function
                  • Autonomous Consumption
                  • MPC times income
              • Shifts in Consumption - Changes in Future Disposable Income
              • Changes in Aggregate Wealth
          • Day 7 PPT - Government Budget Constraint
          • Krugman's Chapter 28 PPT - Krugman's Chapter 27 PPT - 2nd Edition

          September 29, 2011     Finish Chapter 28: Income and Expenditure
          September 20, 2011     Solow Growth Model and Chapter 25: Long-Run Economic Growth continued

          September 22, 2011     Chapter 26: Saving and Investment

                           Week 2

          September 13, 2011       Chapter 25: Long-Run Economic Growth

          • Problem Set #1 - Due today!
          • Homework for next class - 3 goals, indicators and values for the U.S. AND China
          • Chapter 24 - continued
            • NIPA - National Income and Product Accounts
              • Calculate Components
              • Calculate Growth Rates - Real GDP and Gov't
              • Calculate PCE and GDP deflator growth rates
            • Real wages - with and without inflation and wage raises (quiz)

          • Read Chapter 25 about Long-run economic growth
          • Productivity - A key determinant of a country's standard of living
            • Productivity is defined as output per worker
            • Capital per worker
            • Technology
            • Human Capital
          • Diminishing Returns
          • Rule of 70
          • Convergence Hypothesis
          • Day 3 PPT - Some Chinese Values (numbers) for the 3 Goals
          • Krugman's Chapter 25 PPT - 2nd Edition


          September 15, 2011     Chapter 25: Long-Run Economic Growth continued
          • Continue to Read Chapter 25 about Long-run economic growth
          • Productivity - A key determinant of a country's standard of living
            • Productivity is defined as output per worker
            • Capital per worker
            • Technology
            • Human Capital
          • Diminishing Returns
          • Differences in Economic Growth Rates
            • Saving and Investment
            • Human Capital - Education
            • FDI and Infrastructure
            • R & D, property rights and political stabiility
          • Convergence Hypothesis
          • Malthus - what's a Protestant Minister to say?
          • Day 4 PPT - Solow Growth Model
          • Solow Growth Model, as shown in class today

                           Week 1

          September 6, 2011       Chapter 23: The Big Picture


          September 8, 2011     Chapter 24: Tracking the Economy


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    email: andrew at andrewparkes.com
    Last Update: October 16, 2011
    By Andrew L. H. Parkes, Ph. D.