TROY UNIVERSITY
MASTER SYLLABUS
SORRELL COLLEGE OF BUSINESS
ECO 6652
Macroeconomics and Forecasting
Prerequisites
BUS 5503 and BUS 5505 or equivalents.
Description
An analysis of the causes of business cycles with the applications of macroeconomic theory and
economic forecasting techniques available to the business manager. Prerequisite: MBA 5503,
5505 or equivalents.
Objectives
On completion of the course, the student should be able to:
1. Define GDP, inflation, and unemployment, and outline their historical and characteristic
patterns and interrelationships.
2. Explain and differentiate between fiscal and monetary policy, and evaluate the decisions of
the US Federal Reserve System.
3. Define business cycles, describing the specific characteristics of contractions, expansions,
peaks, and troughs.
4. Outline historical patterns in business cycles, and predict future business cycles.
5. Compare and contrast business cycle theories and schools of thought, including the theories
of Hayek, Kondratiev, and Keynes.
Purpose
To provide familiarity with the nature of business cycles, in order to enable managers properly to
plan for them and around them. MBA unspecified elective (non-Accounting).
Approved Texts
Sorensen, P. B., & Whitta-Jacobsen, H. J. (2005 or current). Introducing advanced
macroeconomics: Growth and business cycles (1st ed.). Boston, MA: McGraw-Hill.
Stock, J. H., & Watson, M. W. (1993). Business cycles, indicators, and forecasting. Chicago, IL:
University of Chicago Press.
Master Syllabi are developed by the senior faculty in each business discipline. This Master Syllabus must be used as the basis for developing the
instructor syllabus for this course, which must also comply with the content specifications outlined in the Troy University Faculty Handbook.
The objectives included on this Master Syllabus must be included among the objectives on the instructor’s syllabus, which may expand upon the
same as the instructor sees fit. The statement of purpose seeks to position the course properly within the curriculum and should be consulted by
faculty as a source of advisement guidance. Specific choice of text and other details are further subject to Program Coordinator guidance.
1 August 2005
Master Syllabus: MBA 6652
2
Zarnowitz, V. (1992). Business cycles: Theory, history, indicators, and forecasting. Chicago, IL:
University of Chicago Press.
Supplements
Baumohl, B. (2005). The secrets of economic indicators: Hidden clues to future economic trends
and investment opportunities. Upper Saddle River, NJ: Prentice Hall.
Mankiw, N. G. (Ed.) (1994). Monetary policy. Chicago, IL: University of Chicago Press.
Sterman, J. (2000 or current). Business dynamics: Systems thinking and modeling for a complex
world [with CD-ROM] (1st ed.). Boston, MA: McGraw-Hill.
Troy State University Faculty Handbook (2001): Section 3.8.2.8 [extract]—22 essential elements of the syllabus (somewhat modified for space):
a.
b.
c.
d.
e.
f.
g.
Course title
Course number
Term
Instructor
Prerequisites
Office hours
Class days, times
h.
i.
j.
k.
Classroom location n. Grading methods,
Office location
criterion weights,
Office telephone
make-up policy,
Course description,
mid-term grade
objectives
reports
l. Text(s)
o. Procedure, course
m. Other materials
requirements
p. General supports
r. Additional services u. Cheating policy
(computer works,
(Americans with
v. Specialization
writing center)
Disabilities Act,
requirements
q. Daily assignments,
other statements)
(certification,
holidays, add/drop s. Absence policy
licensure, teacher
& open dates, dead t. Incomplete-work
competencies)
day, final exam
policy