principles of macroeconomics - university of s.DOCXVIP

Econ 251: Principles of MacroeconomicsInstructor: Dr. Monica HartmannMacroeconomics Class Schedule for Fall 2012(9/5-12/14) TR1:30 Location – SCB 328TR3:25Location–OEC 306Contact Information:Office Hours:T 5-6 p.m., W 2-3 p.m. and by appointment in OEC 402Office Phone:651-962-5681E-mail: mehartmann@ Class Website:/mehartmann/macro/macro_econ.htmlCourse Description:This is an introductory course in macroeconomics. Although you may not realize it, you already have been exposed to many of the topics we discuss in this class. Trade deficits, inflation rates, unemployment rates, fiscal policies, and monetary policies are some of the macroeconomic terms that appear in the media and in everyday conversations. Course Objective: At the end of this course, you should be able to understand both the economic principles underlying the macroeconomy and to be able to apply these principles to real world situations. In order to accomplish these objectivesdemonstrate the relevancy of economics in our lives, many of the examples used in my homework assignments and test questions are based on current events. I also supplement the textbook with assigned readings from the Wall Street Journal and the Economist. These articles together with the textbook will help you better understand macroeconomic concepts and their applications.Upon completion of this course you should be able to do the following:Describe the basic economic problem of scarcity and apply the notion to real world situations.Use demand and supply model to explain and predict price changes of a good or service.Be literate in macroeconomic topics, such as unemployment, inflation, recessions, GDP, and international trade.Understand measures and causes of economic growth.Know the role of the Federal Reserve Bank in the U.S. economy, understand the nature of money, and understand what affects interest rates.Understand and explain how fiscal and monetary policies affect the economy.Researc