ECON 305: Intermediate Macroeconomic Theory
Prerequisites: ECON 205 and ECON 206 and one of the following: MATH 126, MATH 151, MATH 169, or MATH 171
Credit hours (3)
Study of the economy as a whole, including output, economic growth, unemployment, and inflation, presented in a unified framework that is used to analyze macroeconomic policy.
Detailed Description of Course
Students will examine the use of macroeconomic models to analyze national income, employment, and the general price level in the short run and long run.
1) Introduction to Macroeconomics
2) Classical Theory: The Economy in the Long Run
3) Business Cycle Theory: The Economy in the Short Run
4) Growth Theory: The Economy in the Very Long Run
5) Current Macroeconomic Issues
Detailed Description of Conduct of Course
The following teaching strategies may be employed:
Lectures, videos, discussions, in-class and/or at-home activities and assignments.
Goals and Objectives of the Course
Upon successful completion of the course, students will be able to:
1) Describe the broad questions macroeconomics address and how economists use models to explain the world. (SLO 1, SLO 7)
2) Examine key macroeconomics indicators such as GDP, the CPI, and the unemployment rate. (SLO 1, SLO 7)
3) Examine how national income is determiend when prices are flexible, and the relationship between money supply and inflation in the long run. (SLO 2)
4) Discuss the natural rate of unemployment, causes unemployment, and patterns of unemployment. (SLO 1)
5) Analyze business cycles using the aggregate demand-aggregate supply model. (SLO 2)
6) Analyze Fiscal and Monetary stabilization policies. (SLO 2)
7) Examine why national incomes grow, and why some economies grow faster than others, and the policy implications using the Solow Growth Model. (SLO 7)
8) Discuss current macroeconomics issues of topical interest and analyze them using the models and tools learned in this course. (SLO 1, SLO 7)
The following assessment measures may be employed: Tests, quizzes, homework, reports, presentations, and class participation. Grades and percentages depend on individual professors.
Other Course Information
Review and Approval
September 2, 2014
December 2013 C. Vehorn
April 16, 2012
December 2004 N. Hashemzadeh