Pomona College

Economics 51

Principles of Macroeconomics

Professor James D. Likens

Required Materials:

1. Baumol and Blinder, Macroeconomics: Principles and Policy, (Dryden, eighth edition, 1999).

2. Study Guide for Baumol and Blinder Economics, (Dryden, eighth edition, 1999).

3. Student Web Site: http://www.dryden.com/econ/baumol/

Please note:

1. Class discussions are important. Attendance is expected.

2. Please prepare all materials designated on the syllabus before the class time to which they

refer.

3. You should make use of summaries, review questions, "concepts for review" and

appendices for assigned chapters.

4. Use the Study Guide for review and self study.

5. Feel free to recommend materials other than those on the syllabus.

6. Additional readings may be assigned.

7. Daily reading of the Wall Street Journal and a general newspaper (e.g., Los Angeles Times, New York Times) is expected.

Formal requirements:

1. Ten quizzes

2. Two midterm examinations

3. Final examination

4. Class participation

Approximate bases for term grade:

1. Quizzes 30%

2. Midterms 2 @ 20%

3. Final 30%

100%

EXAM POLICY: You are expected to take all examinations and quizzes at their scheduled times. Permission for exceptions must be obtained in advance; these will be granted only for illness, death in the family, and other serious circumstances. The professor reserves full discretion to lower grades for failing to comply with this policy. P.S.: be sure to make your Spring recess and end-of-semester travel plans early so you can comply with the examination schedule.

Topic Dates Chapters

I. What Is Economics? 1/17, 1/19,1/22 1,2,3,4

QUIZ I 1/24 1-4

II. Markets and Prices 1/24, 1/26, 1/29 5

QUIZ II 1/31 5

III. Macroeconomics: An Overview

A. The Realm of Macroeconomics 1/31, 2/2 6

B. Unemployment and Inflation 2/2 7

IV. Aggregate Demand 2/5, 2/7, 2/9 8

V. Aggregate Demand: Measuring 2/12, 2/14 Appendix 8

Performance

QUIZ III 2/16 6-8

V. Determinants of 2/16, 2/19 9

Equilibrium

VII. The Multiplier 2/21 10

QUIZ IV 2/23 9-10

VIII. Aggregate Supply 2/23, 2/26 11

QUIZ V 2/28 11

EXAMINATION I 3/2 1-11

IX. Fiscal Policy: Managing the Demand Side 3/5, 3/7, 3/9 12

SPRING RECESS 3/12, 3/14, 3/16

X. Banks and Money 3/19, 3/21 13

QUIZ VI 3/23 12-13

XI. Central Banks, The Fed, and Monetary 3/26, 3/28, 3/30 14-15

Policy

QUIZ VII 4/2 14-15

XII. Deficits and the National Debt 4/2, 4/4 16

XIII. Inflation and Unemployment 4/6, 4/9 17

QUIZ VIII 4/11 16-17

XIV. Rationale for International Trade 4/11, 4/13 18

XV. International Monetary System 4/16, 4/18 19

QUIZ IX 4/20 18-19

EXAMINATION II 4/23 12-19

XV. Exchange Rates and the Macroeconomy 4/25, 4/27, 4/30 20

QUIZ X 5/2 20

LAST DAY OF CLASS: Wednesday, May 2, 2001.

FINAL EXAMINATION: Thursday, May 10, 8:00 a.m.

Return to Jim Likens’ Home Page