Instructor:       Tibor Besedes
Office:            425 New Jersey Hall,
                      75 Hamilton Street,
                      College Avenue Campus
Phone:            (732) 932-8061
 e-mail:           dinamo@eden.rutgers.edu
 Web Page:    http://www.economics.rutgers.edu/home/besedes/intermacro.htm
 Lectures:       Mon., Wed., 6:10 - 7:30, LSH B105, Livingston
Office Hours: Wed., 1:00 - 3:00, Learning Resource Center, Tillet Hall, Livingston
 
 

Intermediate Macroeconomics
Spring 99 Course Syllabus
 

Textbook:
Blanchard, O., Macroeconomics, 1st ed., Upper Saddle River: Prentice Hall, 1997.
Findlay, David W., Macroeconomics, Study Guide and Tutorial.

Prerequisites:
Introduction to Microeconomics and Introduction to Macroeconomics – 220:102 and 220:103 respectively – are prerequisites for this course.  In addition it is important that you have some training in Mathematics.  To this extent Calculus I – 640:135 – or an equivalent is a prerequisite. If you do not have these prerequisites be aware of the risks involved if you remain enrolled in this class. This will be a fast paced course and you may not be able to keep up.

Course Objectives:
The purpose of this course is to enable you to analyze macroeconomic issues. You will gain an understanding of the behavior of economic aggregates, such as output, employment, and prices. The interactions between these variables will be examined using macroeconomic models. Both the short run and long run will be examined.
We will first build the IS-LM model and then expand it by introducing expectations and the international sector. We will then introduce labor and use the aggregate supply-aggregate demand framework to examine employment and price mechanisms. We will then shift to the long run and examine growth models, and conclude with a look at policy implications.
 
Attendance:
While attendance will not be graded, I strongly encourage you to attend classes, as performance in the class is usually highly correlated with attendance.

Make-ups:
You are allowed to take on make up exam. The make up will be held during the last class, Monday, December 13. You can miss only one exam. If you miss two exams you will be allowed to take only one make up. You can miss an exam for whatever reason. You do not have to tell me why you missed it, but if you do not take the make up, you will receive a zero grade for that exam. Although this may seem like an easy way out of an exam if you are not prepared, be aware that you will have much more to study in December.

Academic Honesty:
Cheating is totally unacceptable. The University has established rather severe penalties for cheating. For example, "Copying from or giving others assistance on an hourly or final examination..." is a Level Three violation. A Level Three violation carries with it "Suspension from the university for one or more terms..." I advise you to review these penalties which appear on page 515 and 516 of the 1999-2001 Undergraduate Catalog and to act accordingly.

General Information:
I plan to cover as much as possible during the course of this class. If we are able to cover all the topics listed below and have some time left, I will cover additional material. However, you will not be responsible for it on the final exam. While I will mostly follow the textbook, I may add some material that is not contained in it. In that case, your lecture notes will contain all the relevant information that you will need on exams. If you are having trouble with the material you are strongly encouraged to come see me during the office hours. While I will not be assigning any homework, you should be working your way through the study guide as we go on, as that will help you understand the material and prepare you for the exams.

Topics to be covered:

    1. Introduction to Macroeconomics – General Info
            Chapters 1,2
    2. The Basics – IS-LM
            Chapters 3-6
    3. Expectations
            Chapters 7,10
    4. Openness – International Sector
            Chapters 11-13
    5. Aggregate supply-Aggregate demand
            Chapters 15-18
    6. Growth
            Chapters 22-24
    7. Policy
            Chapter 27
 
 

The grade for the course will be based on two in term exams, worth 30% each, and a final exam, worth 40%. The first exam will be held on Wednesday, October 6, the second on Wednesday, November 10, and the final on Wednesday, December 15. The in term exams will be held during regularly scheduled classes, while the final will be held at 8PM. The final exam is not cumulative, but be aware that most of the material on the final will be based on what we do throughout the whole course.