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Economics 305

ECON 305: Intermediate Macroeconomic Theory

Prerequisite: ECON 105 and 106

Credit Hours: (3)

Analyzes the intersectorial determination of national income and employment and the general price level.


Detailed Description of Content of the Course

Students will examine the intersectorial relationships of economics in the determination of national income, employment, and the general price level.

Topic Outline

1. The Record of the American Economy
2. The Measurement of Economic Activity
3. The Level of Economic Activity
4. Government and the Level of Economic Activity
5. Interest and Money
6. General Equilibrium of the Product and Money Markets
7. The Level of Employment and The General Price Level


Detailed Description of Conduct of the Course

The following teaching strategies will be employed:

  • Lectures and discussions.


Goals and Objectives of the Course

1. Discuss the record of the American economy.
2. Examine the measurement of economic activity. Discuss the national income accounts.
3. Review the level of economic activity. Explore simple income determination, consumption, investment, multipliers.
4. Discuss government fiscal policy, government spending, and tax multipliers.
5. Explore the characteristics of demand for money and the supply for money.
6. Discuss the monetary effects of fiscal policies.
7. Examine IS and LM functions and shifts in IS and LM functions.
8. Discuss the characteristics in real versus monetary changes.
9. Explore full employment vis-a-vis non-full employment equilibria.
10. Examine interest rate and investment mechanisms.
11. Discuss money wages, real wages, money illusion, and employment.
12. Examine real and money rate of interest.
13. Discuss monetary and fiscal policies.


Assessment Measures

Tests, homework, reports, presentations, class participation. Grades and percentages depend on individual professors.


Other Course Information


Review and Approval

Date Action Reviewed by
December 2004 Made alterations to syllabus N. Hashemzadeh, Chair
April 16, 2012 Revised