Giedrius Blazys

ECON 201, Autumn 2008
Condon 110B. Mon, Wed, Fri 1:30 pm-2:50pm (Sep 24th – Dec 8th)

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Instructor:	Giedrius Blazys
Office:	Condon 021
Office Hours:	MW 3:00-4:00, or any time by appointment
Email:	giedrius@u.
Class website:	http://www.blazys.com/teaching/econ201

Lecture Notes and Other Course Documents

Syllabus
Lecture Slides
Monday	Wednesday	Friday
no class	Sep-24-2008	Sep-26-2008
Sep-29-2008	Oct-01-2008	Oct-03-2008
same	same	Oct-10-2008
Oct-13-2008	Oct-15-2008	same
same	Oct-22-2008	same
same	Review Class	Midterm Answers
Nov-03-2008	same	Nov-07-2008
same/Ch19 AK	Nov-12-2008	same
same	Nov-19-2008	same
same	Nov-28-2008	No Class
Dec-03-2008	same	Review Class
Final Exam Answers

Homeworks

HW-1 with Answers	due Monday, Oct-6-2008 11:59pm
Estimate a Student Price Index	due Monday, Oct-6-2008 11:59pm
HW-2 with Answers	due Monday, Oct-13-2008 11:59pm
HW-3 with Answers	due Monday, Oct-20-2008 11:59pm
HW-4 with Answers	due Monday, Oct-27-2008 11:59pm
Practice Midterm	Practice on your own
HW-5 with Answers	due Monday, Nov-17-2008 11:59pm
HW-6	due Monday, Nov-24-2008, in class
HW-7 with Answers	due Wednesday, Nov-26-2008 11:59pm
HW-8	due Wednesday, Dec-3-2008, in class
HW-9	due Friday, Dec-5-2008, in class
Practice Questions for Chapters 22-23	Practice on your own

Quizzes

Quiz 1 Answers	Wednesday, Oct-8-2008
Quiz 2 Answers	Wednesday, Oct-22-2008
Quiz 3 Answers	Wednesday, Nov-19-2008
Quiz 4 Answers	Wednesday, Dec-3-2008

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ANNOUNCEMENT

Class Schedule

The included schedule is meant only as a guideline for planning purposes. I reserve the right to change the schedule at any time. The most up-to-date schedule will be on this course homepage.

Date	Topics	Textbook Chapters
Week 1	An overview of Economics	1-9
Week 2	National Income and the cost of Living	10-11
Week 3	Production and Growth	12
Week 4	Unemployment	15
Week 5	Savings and Investment	13-14
Week 6	Money and Prices in the Long Run	16-17
October 31	MIDTERM EXAM	10-17
Week 7	Open Economy	18-19
Week 8	Aggregate Demand and Aggregate Supply	20
Week 9	Monetary and Fiscal Policy	21
November 28	Public Holiday (No class): THANKSGIVING	-
Week 10	Inflation and Unemployment Trade-off	22-23
December 8	FINAL EXAM	10-22

Course Description

This introductory course in Macroeconomics will enable you to analyze problems in the key areas using appropriate tools. This course will stress applications of elementary economic theory to real world issues and problems. Although we will not be using any complicated algebra, many exercises will require sound analytic reasoning and good math skills will be helpful. I believe that timely reading of the course materials and solving homework assignments is a key to success in this course.

Student Learning Objectives

After taking this course you should be able to:

• Understand how aggregate economic activity is measured at the level of a nation and what causes economic activity to fluctuate over the years.
• Understand how basic models of the economy summarize and explain the interactions between these main macroeconomic measures: output, employment, and inflation.
• Understand the role of government in trying to smooth out these fluctuations and the links between the domestic economy and the rest of the world.
• Evaluate economic policy proposals and assess critically the economic content of articles or presentations.

Textbook

• The required textbook for this course is: Mankiw, Gregory N. “Principles of Macroeconomics” 4th edition (2007).
• NOT required, but available online for free is Nelson, Charles. “Macroeconomics, An Introduction” (2007).
• Any additional material will be handed out in class, or posted online.

Assignments and Grading Policy

Homework assignments will be given with 1-2 weeks to complete based on the length of the assignment. I encourage discussing and working in groups but answers have to be prepared and submitted individually. I will NOT accept any late homework assignments. You should do them ahead of time if you have other obligations. There will be 4 quizzes. Each quiz will be given at the beginning of the class and will take about 10-15 minutes to complete. There will be 1 midterm and 1 final exam. Please note that the final exam will be cumulative, but will mostly focus on topics covered since the midterm. Your course grade will depend upon homework assignments, in-class quizzes and two examinations as follows:

• Homework Assignments: 20%
• Quizzes: 20%
• Midterm Exam: 20%
• Final Exam: 40%

Note that the grading policy of the Economic Department requires that the Median grade for the introductory courses falls in the 2.9-3.1 range, not higher. I do not give makeup assignments or exams unless you have an official UW sanctioned excused absence, such as medical emergency, athletics or student government (official note required).

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Links

Textbook Companion Site

Economics Undergraduate Board (EUB)

Economics podcasts