Economics 100N is a course in intermediate macroeconomic theory and policy ...
The text for the course is Macroeconomics, by Charles Jones, 2nd Edition ...
Economics 100N UCSC
Professor K. Kletzer Spring 2013
Intermediate Macroeconomics – Math Intensive I. Introduction Economics 100N is a course in intermediate macroeconomic theory and policy analysis. We will study the concepts and techniques of contemporary macroeconomics and learn how they can be used to understand the economy and its response to policy. The course will emphasize the development of a framework for understanding how unemployment, inflation, output, interest rates, trade deficits, exchange rates and other interesting measures of the economy are determined. This version of intermediate macroeconomics will cover the material of Economics 100B in a bit more depth and with more analysis. The course intended for students who are comfortable using calculus in class, although the important requirement is an enthusiasm for understanding economic analysis and how the economy works. Course evaluations will be based on a midterm exam (35%), six homework assignments (15%) and a final exam (50%). II. Office hours Tuesday and Wednesday 1:00-2:00, or by appointment, in Engineering 2, room 401E. Phone: 459-3407. E-mail:
[email protected]. III. Textbook The text for the course is Macroeconomics, by Charles Jones, 2nd Edition (Norton, 2011). This book should be in stock at the Bay Tree Bookstore and on the web. Additional handouts and suggested readings will be posted on the website during the quarter. IV. Course Webpage The course webpage is http://people.ucsc.edu/~kkletzer/econ100N.htm and should be linked from the Department of Economics webpage (link to faculty). Class materials and announcements will be posted here frequently. The webpage also has links to many useful web pages on macroeconomics. V. Exam Schedule: Midterm Final Exam
Thursday, May 9, in class Tuesday, June 11 at 4:00 pm
Reading List Part I: The Long Run
Week 1
Introduction to Macroeconomics and Economic Growth Jones, Chapters 1-3 Amartya Sen, “Quality of Life in India vs. China, New York Review of Books, May 12, 2011. http://www.nybooks.com/articles/archives/2011/may/12/quality-life-india-vschina/?pagination=false Richard Easterlin, “When Growth Outpaces Happiness,” New York Times, September 27, 2012. http://www.nytimes.com/2012/09/28/opinion/in-china-growth-outpaceshappiness.html
Week 2
Production, Inputs and Growth Jones, Chapters 4-5 Paul Krugman, “The Myth of Asia’s Miracle,” Foreign Affairs, November/December 1994. http://media.ft.com/cms/b8268ffe-7572-11db-aea1-0000779e2340.pdf Paul Romer, “For Richer, For Poorer,” Prospect, January 27, 2010. http://www.prospectmagazine.co.uk/magazine/for-richer-for-poorer/
Margaret Jacobson and Filippo Occhino, “Behind the Decline in Labor’s Share of Income,” Federal Reserve Bank of Cleveland, Economic Trends, February 3, 2012. Week 3
Technology, Innovation and Growth Jones, Chapter 6 “Has the Ideas Machine Broken Down,” The Economist, January 12, 2013. http://www.economist.com/news/briefing/21569381-idea-innovation-and-new-technology-havestopped-driving-growth-getting-increasing Institutions, Geography and Growth: Jeffrey Sachs, “Government, Geography and Growth,” Foreign Affairs, September/October, 2012. http://www.foreignaffairs.com/articles/138016/jeffrey-d-sachs/government-geography-and-growth Leander Heldring and James Robinson, “Colonialism and Development in Africa,” VoxEU, January 10, 2013. http://www.voxeu.org/article/colonialism-and-development-africa
Week 4
Labor Markets and Inflation Jones, Chapters 7-8 Thomas Piketty and Emmanuel Saez, “The Evolution of Top Incomes: A Historical and International Perspective,” American Economic Review, 2006. http://elsa.berkeley.edu/~saez/pikettysaezAEAPP06.pdf Janet Yellen, “Economic Inequality in the United States,” Federal Reserve Bank of San Francisco Economic Letter, December 1, 2006. http://www.frbsf.org/publications/economics/letter/2006/el2006-33-34.pdf
Part II: The Short Run
Week 5
Goods Markets in the Short Run Jones, Chapters 9-11
Week 6
Monetary Policy Jones, Chapter 12
Week 7
Stabilization Policy and the Great Recession Jones, Chapters 13-14
Week 8
Consumption and Investment Jones, Chapters 15-16
Week 9
Fiscal Policy and International Trade Jones, Chapters 17-18
Week 10
Exchange Rates and International Finance
Jones, Chapter 18-19
Final Exam, Tuesday, June 11 Midterm Exam Tuesday, May 9
