Economics 305

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.

Topic Outline
    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)


Assessment Measures

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

None.

Review and Approval

September 2, 2014
December 2013 C. Vehorn
April 16, 2012
December 2004 N. Hashemzadeh