Macro Analysis
Spring 2017
Course: ECON 20200
MWF 10:00-10:50
Shaianne Osterreich
Office: 420 Muller Center
Office Phone: 274-3552
Email:
Office Hours: MW 1-3
Required Texts: Robert Feenstra and Alan Taylor, 2014, International Macroeconomics, 3rd Edition. Worth Publishers
There will be additional required readings on selected topics.
Course Description and Goals:
The main goal of this class is to help make you a more attentive and capable participant in society. At present, the global community is inching its way out of an economic crisis that continues to have a dramatic effect on millions of households and businesses as well as many of the world’s banks and governments. Understanding the causes and responses to this crisis requires, among other things, exposure to the theoretical tools and policy issues that are associated with global imbalances, exchange rates, unemployment, budgets, and national income growth. We will think about these questions from the perspective of ‘advanced’, ‘emerging’, and ‘developing’ countries including the Eurozone and the BRICS countries. Throughout the course, you will be introduced to different macroeconomic theories and we will consider topics of debate concerning the contemporary political and economic landscape in the global economy.
Course Requirements:
· Attendance & Class Participation: I will not take attendance however this class comprises readings, lectures, and discussions. You should not expect to do well if you do not come to class and speak up.
· Blogging – 10%: To encourage multiple types of participation in this course and to enhance economic literacy, the whole class will become active bloggers on global economic issues. Since students have various abilities in writing this will be a good opportunity to practice discussing current events and for students to talk with one another. You will be asked to blog and comment once a week; due before class each Monday. The best way to find subject matter for these blogs is to read the news; Financial Times, the Economist, the New York Times, Wall Street Journal, etc. Guidelines will be posted on Sakai.
· Debates - 10%: There will be 2 debates. The class will be organized into multiple groups that will take opposing sides of an issue and another group will judge the debate. Each student will participate in one debate.
· Quizzes – 25%: There will be 4 quizzes. These are designed to keep you current on the material presented in class and the readings. There will be optional problem sets and essay questions posted to prepare you for the quizzes.
· Exams - 40%: There will one midterm and one final. They will consist of multiple choice questions, problems, and essay questions. The final will be comprehensive but with an emphasis on material covered after the midterm. There will be NO make up exams if you miss one without informing me first, and even then, only in special cases.
· Class Conference - 15%: Throughout the semester each student will work on a research project on one country or multiple countries that ultimately culminates in a policy analysis in the format of a paper and a presentation. Students wishing to present at the Whalen Symposium should see me for details.
Grade Calculation:
4 Quizzes 25 %
Blogging 10%
Debate 10%
Midterm 20 %
Final Exam 20 %
Conference 15 %
Miscellaneous (yet important) Information:
· If you have any issue that you think might affect your performance in this course, if you are just learning English, or if you have any other concerns, please see me within the first two weeks so we can minimize any particular difficulties you might have.
· The Internet:
· Do not send me assignments via email. Do not surf in class.
· I will send important class information to your ithaca.edu email and I will expect that you will check it.
Tentative Course Schedule – updated schedule will be available on Sakai – please check often
WEEK / TOPIC / Readings, Quizzes & Activities#1
1/23 / The state of global recovery:
GDP, Unemployment
& Exchange Rates / Wed and Fri: Intro to the data and scope of class
Reading
Ch. 1 (Wed)
Optional – review of basic Macro – Blanchard/Johnson (Sakai)
#2
1/30 / Exchange Rates: The basics / Reading
Ch. 2 - (Mon – as a general rule)
Activity
Quiz #1 (Wed)
#3
2/6 / Money and Prices –
Big Macs in the Long Run / Reading
Ch. 3 (Section 1 only)
Activity
Looking at the data – Friends 110 (Friday)
#4
2/13 / Assets and Exchange Rates –
Euro, $, and Yuan / Reading
Ch. 4
Activity
In-class debate (Friday)
#5
2/20 / Interest Parity Condition Continued / Ch. 4 continued
Activity
Quiz #2 (Wed)
#6
2/27 / GDP and Balance of Payments: Accounting for global (im)balances / Reading
Ch. 5
#7
3/6 / Review & Midterm / Flex time and Midterm
#8
3/13 / Spring Break
JJJJJJJJ
#9
3/20 / Short Run Open Economy Model – Part I: C+I+G+TB / Reading
Ch. 7 (Up to Part 1)
#10
3/27 / Short Run Open Economy Model-
- Part II: Applications / Reading
Ch. 7 (Part 2)
Quiz #3 (Wed)
#11
4/3 / Short Run Open Economy Model-
- Part III: IS-LM / Reading
Ch. 7 (Part 3-4)
#12
4/10 / Short Run Open Economy Model –Part IV: Policy / Reading
Chapter 7 (Part 5-end)
#13
4/17 / The Euro Zone / Reading
Chapter 10
#14
4/24 / Class Conference –
Global Challenges
#15
5/1 / Conference Continued.
# 16 /