ECON 301

Fall 2008

Schedule Syllabus Class Notes, Homework and answers Assignments, and Handouts	TTH 11:50 pm - 1:20 pm Academic 1026	Dr. Gabriel Martínez gmartinez@avemaria.edu (239) 280-1611 Office: Academic 2056	Office Hours: TTh 1:30 – 3:00 Department of Economics Ave Maria University
Guide to Professional Writing	An Outline of the U.S. Economy	The World Economy: A Millennial Perspective	Wall Street Journal Student Guide WSJ Stock Market Guide
Economics can be one of the most interesting and useful things you’ll ever learn. Economics is filled with excitement: the pleasure of understanding a model, the thrill of the hunt for explanations, the electrifying debates about the big questions of society. At the same time, it is tremendously useful. Families, corporations, and governments use economics when they make decisions about their income and their expenses, the products they make, their reactions to events, and their world-changing policies. Some of the most influential people in the world are economists by training and by profession. The world is in great need of economists who are leaders, both professionally and morally. If you put your brain and your heart into this class – if you do the work and go beyond the assignments – you will be richly rewarded.

Date			Reading	Assignment	Answers
			Introduction

Aug	26	T	Introduction / Syllabus / Knowledge Check (Econ program assessment)
			•History of Macroeconomics •Is there a Core of Practical Macroeconomics?
	28	Th	Chapter 2: Basic Definitions Chapter 14: Expectations: The Basic Tools, section 14.1	Homework ch 1

			The Short Run

Sept	2	T	Chapter 3: The Goods Market.	Homework ch 2
	4	Th	Chapter 4: Financial Markets.	Homework ch 3
	9	T	Chapter 5: Goods and Financial Markets: The IS-LM Model.	Homework ch 4
	11	Th	Chapter 14: Expectations: The Basic Tools, section 14-3.	Homework ch 5	Answers
	16	T	Quiz 1 (30 minutes) -- Ultra Brief Study Guide Chapters 2-5 (and sections 14-1, 14-3)
			Chapter 14: Expectations: The Basic Tools, section 14-2.
	18	Th	Presentations of MP # 1 (total: 45 minutes)
			Chapter 15: Financial Markets and Expectations, sections 15-1, 15-2.
	23	T	retake review	MP Paper # 1
	25	Th	retake Chapter 18: Openness in Goods and Financial Mkts, section 18-1	Homework ch 14-15	Answers
	30	T	Chapter 19: Goods Market in an Open Economy.	Homework ch 18	Open Economy Workbook
Oct	2	Th	Chapter 19: cont	Homework ch 19	Answers
	7	T	Test 1 (60 minutes) Chapters 2 - 5, 14 -15 (except sections 14-4 and 15-3), 18, 19 (skip 20). Guideline for Tests	Study Guide

			The Medium Run

	9	Th	Chapter 6: The Labor Market. Dr. Martinez's Notes
	14	T	Chapter 8: The Natural Rate of Unemployment and The Phillips Curve.	Homework ch 6
	16	Th	no class	Homework ch 7	Answers
	21	T	Midterm Break
	23	Th	Cancelled: Quiz 2 (30 minutes), Chapter 6-7
			Chapter 7: Putting All Markets Together: The AS-AD Model. Dr. Martinez's Notes
	28	T	Chapter 9: Inflation, Activity, and Money Growth.	Homework ch 8
	30	Th	Presentation of MP # 2 (total: 45 minutes)
			Chapter 9, cont. Dr. Martinez's Notes
Nov	4	T	Chapter 14: Expectations: The Basic Tools, section 14-4.	Homework ch 9	Answers
	6	Th	Test 2 (60 minutes), chapters 6-9, and section 14.4

			The Long Run

	11	T	Chapter 10: The Facts of Growth. (Jones' Macroeconomics Chapters 3-4)	MP Paper # 2
	13	Th	Chapter 11: Saving, Capital Accumulation, and Output. Dr. Martinez's Notes	Homework ch 10
	18	T	(Jones' Macroeconomics Chapter 5) Solow's original article, tested by Mankiw, Romer, and Weil.	Homework ch 11
	20	Th	Quiz 3, chapters 10-11	Workbook for Economic Growth
	25	T	Chapter 12: Technological Progress and Growth. Dr. Martinez's Notes
	27	Th	Thanksgiving Day
Dec	2	T	Here's an easy-to-read article on growth and ideas. If that was interesting but left you hungry for more substance, try Romer's original article on the role of ideas in economic growth.	Homeworkork ch 12	Answers
	4	Th	Presentation of MP # 3 (total: 90 minutes)
			Due on Friday	MP Paper # 3
	W	10	7:00pm - 10:00pm: Final Exam	Study Guide

Old Tests

2006 Test 1 | Answers to 2006 Test

2006 Test 2 | Answers to 2006 Test

2006 Test 3 | Answers to 2006 Test

Ben Shalom Bernanke, Ph.D.	The most important economist in the world: Ben Bernanke (pronounced ber-NAN-kee), one of the authors of our textbook, is the Chairman of the Federal Reserve Board of Governors.
Economics opinion-makers had nothing but good things to say about him at the time of his nomination. Here are some of his main contributions to Economics.	His most important policy writings: Ben S. Bernanke and Frederic S. Mishkin, Jul 1997 Inflation Targeting: A New Framework for Monetary Policy? Federal Reserve, Governor Ben S. Bernanke, Mar 10, 2005 The Global Saving Glut and the U.S. Current Account Deficit Federal Reserve, Remarks by Governor Ben S. Bernanke, Nov 22, 2002 Deflation: Making Sure "It" Doesn't Happen Here