Assignments for Macroeconomics Principles
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Problem Set #1
Problem Set #2 Problem Set #3 in Word (.doc)
form.
Tentative Outline for
Wednesday
Mankiw's
Web
Grades: Section 3 Section 6
Swedish Central Bank's Memorial Nobel Prize in Economics, 2002
Nobel Prize in Economics, 2003
December 10, 2003 FINAL EXAMS - Tuesday, Dec.
16 at 1 pm and Wednesday, Dec. 17 at 5 pm.
December 12, 2003
- Review for the Final Exam
December 10, 2003 Aggregate Demand and
Supply Quiz!
- Continue our discussion of the short-run fluctuations in the economy using the Aggregate
Demand, Short-Run Aggregate Supply (SRAS) and Long-Run Aggregate Supply (LRAS)
curves. Monetary and Fiscal Policies - lags.
December 8, 2003
- Continue our discussion of the short-run fluctuations in the economy using the Aggregate
Demand, Short-Run Aggregate Supply (SRAS) and Long-Run Aggregate Supply (LRAS)
curves. Monetary and Fiscal Policies - Introduction.
December 5, 2003
- Continue our discussion of the short-run fluctuations in the economy using the Aggregate
Demand, Short-Run Aggregate Supply (SRAS) and Long-Run Aggregate Supply (LRAS) curves.
December 3, 2003 Quiz - Inflation Costs and the color of Dorothy's
shoes!
- Begin our discussion of the Aggregate Demand and Supply analysis, Chapter 20.
December 1, 2003 Test Corrections Due
- Finish discussing Chapter 17 and the open economy, Chapters 18 and 19.
November 26-8, 2003 HAPPY THANKSGIVING - BREAK!!!!
November 24, 2003
- Review the test and complete test corrections.
November 21, 2003
- Chapter 17 - The Classical Theory of Inflation, equation of exchange, hyperinflation,
inflation tax and the Fisher Effect will be covered.
November 19, 2003 TEST III: Chapters 12 through 17
NOTES: IRA contributions numbers (subject to new bills
currently being voted on in Congress):
2002-2004: $3,000 ($500 additional catch up
contribution for investors over 50)
2005: $4,000 ($500
additional catch up contribution for investors over 50)
2006-2007: $4,000($1,000 additional
catch up contribution for investors over 50)
Thank you Jessica!
November 17, 2003
- Review for the test including the money market.
November 14, 2003
- Review Chapter 16, the Fed and the banking system, money creation and the tools of the
Fed.
November 12, 2003
November 10, 2003
- Chapter 16 - The Federal Reserve System is the topic of the day!
November 7, 2003
- Chapter 16 - Money definitions and functions, the M & Ms, and more discussion of
mutual funds
- Try Morningstar (a mutual fund rating company).
Click on Bond Funds on the left side. Then pick one of the funds in the drop down menu
"Show me".
November 5, 2003 Problem IV Assignment Due
- Chapter 13 - The loanable funds market, policies 2 and 3. Chapter 15 - Unemployment
definitions and calculations.
November 3, 2003
- Friday's assignment is due. Chapter 13 - Debt/deficit and an introduction to the
loanable funds market.
October 31, 2003 HAPPY HALLOWEEN!!!!
- Chapter 13 - discuss Mutual Funds, Stocks, as well as Saving and Investing components.
- Quiz/homework (MWF class) - Answer the following questions for 5 points, due Monday: #1:
Calculate the percentage of debt to GDP, #2: Real GDP figures for the third quarter were
announced (Thursday morning), what were they (annualized)?, #3: What contributed to the
growth? (Why did real GDP increase so much?), #4: Future expectations? (What do economists
expect about the future?), #5: How much did the Personal Consumption Expenditure price
index change? Also note what happened to personal spending and personal income (reported
today - Friday).
October 29, 2003 Problem Set IV Assignment - 15 points - DUE
Wednesday, November 5
- Chapter 13: Stocks, Bonds, Mutual Funds and the Financial Sector of the economy
- Problem Set IV: Assignment - find a Stock, as well as a Stock and Bond and Mutual Fund -
what are the companies and characteristics about the financial instrument (e.g. stock
price, mutual fund net asset value and fees) - start by going to the CBS
Marketwatch web site and printing out the page corresponding to the profile of the
company or mutual fund you chose. 5 points each so find out everything that you can!
DUE NEXT WEDNESDAY!
- Wednesday night class - Find out what the Federal Reserve Open Market Committee did on
Tuesday, October 28. Three sentences - also Why did the stock market react the way that it
did? (5 points) (assigned in class)
October 27, 2003
- Finish our discussion of Productivity (Chapter 12) and begin discussion of the financial
sector of the economy (Chapter 13).
- Malthus, Population Growth, Capital accumulation and Education.
October 24, 2003 International Paper DUE!
- Review the test and finish Productivity and GDP as a measure of economic
well-being.
October 22, 2003 TEST II - CHAPTERS
7 - 12
October 20, 2003
October 17, 2003
- Chapter 12: Productivity and Economic Growth - Pages 244-247.
October 15, 2003 Problem Set III DUE
October 13, 2003
- Chapter 10 "Measurements" will begin our discussion of how economists gauge
the economy:
- Real versus nominal GDP and how they are measured.
- Consumption, Investment, Government and Net Export spending will also be covered.
October 10, 2003
- Final discussion on International Trade, Globalization and the WTO will complete the
week, if necessary.
- Chapter 11: Discussion of the Consumer Price Index and Gross Domestic Product deflator
will be the main topics.
October 8, 2003 Problem Set II
DUE Wednesday Night Class & Problem Set III Assigned - ALL
- Arguments for restricting trade will be discussed. The recent WTO (World Trade
Organization) failure including the "Singapore agreement" and agricultural
subsidies will also be discussed. Handouts will be available to help us understand
and discuss the issues.
- International Paper assigned.
October 6, 2003 Problem Set II DUE
- The effects of an import quota on an imported good will be discussed using our three
panel diagrams (more handout panels will be available, if necessary). See page 186
for the importing country's analysis.
October 3, 2003
- A tariff will then be placed on the imported good and we will follow the analysis with
our three panel diagrams of the effects in the importing and exporting countries.
See page 183 for the effects in the importing country.
October 1, 2003
September 29, 2003
- Problem Set II assigned (MWF) - Tax incidence and International Trade
- The Laffer Curve and an introduction to International Trade (Chapter 9) will be covered
today. Determination of the world price, self sufficiency (or autarky situation) and
the determination of exports and imports will begin our discussion of international trade.
September 26, 2003
- Chapter 8: The costs of taxation continued, tax revenue and elasticities.
Determinants of the Deadweight Loss and their implications for different markets were
discussed. See page 165 and 169 for tax distortions and elasticities. You will
use these graphs to analyze the question on Problem Set II.
- Four methods of resources allocation
September 24, 2003
- Chapter 8: The costs of taxation - consumer and producer surplus - please remember
that the tax is paid by the consumer (a shift to the left in demand) or producer (a shift
to the left in supply) when reading and analyzing Mankiw's text. The shifts are left
out to make the analysis more easily understood but a tax does still shift the curves and
you must show this on your test and problem set. Note the prices (buyers pay and
sellers receive), tax revenue and quantity sold (I use QT in my diagrams in
class). On page 162 the consumer and producer surpluses, tax revenues and total
surpluses are delineated with "A through F". You will use these
designations on Problem Set II.
- Problem Set II will be assigned NEXT WEEK (Postponed)
September 22, 2003
- Chapter 7: Consumer and Producer Surplus - note especially the additions to consumer
surplus if the price falls and additions to producer surplus if the price rises (and visa
versa). Be able to calculate the total surplus (value to buyers minus cost to
sellers) and understand efficiency, equity and the important market failures.
Assumptions make the analysis more easily understood but we must also understand the
consequences of making those assumptions (see the conclusion to the chapter). Note
the Ticket Scalping and Market in Organs cases for the test.
September 19, 2003
- Test review and Introduction to Chapter 7
September 17, 2003 TEST I - CHAPTERS 1-6
(excluding 5)
September 15, 2003
- Review for the Test and Finish Chapter 6
September 12, 2003
- Chapter 6 continued - Ceilings and Floors
September 10, 2003
- Chapter 3 - Comparative Advantage, International Trade and Specialization
September 8, 2003
- Supply and Demand continued - PROBLEM SET I DUE!
September 5, 2003
- PPPPINTs and PPPESTs - Supply and Demand
September 3, 2003
- Finish Chapter 2 and discuss Graphing/Problem Set I
September 1, 2003
August 29, 2003
- Finish Chapter 1 (the rest of the ten principles) and begin Chapter 2 (two models).
August 27, 2003
- Read Chapter 1 (cover the first four principles).
- Continue goals and indicators discussion.
August 25, 2003
- Note the three Macroeconomic goals and indicators of each (CPI change, Unemployment Rate
and real GDP change)
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email: drew at drewparkes.com
Last Update: December 07, 2003
By Andrew L. H. Parkes, Ph. D.