Graduate Curriculum Committee Course Proposal Form
for Courses Numbered 6000 and Higher
Note: Before completing this form, please carefully read the accompanying instructions.
Submission guidelines are posted to the GCC Web site: http://www.ecu.edu/cs-acad/gcc/index.cfm
1. Course prefix and number:
ECON 8212
2. Date:
09/13/2011
3. Requested action:
X New Course
Revision of Active Course
Revision & Unbanking of a Banked Course
Renumbering of an Existing Course from
from
to
#
Required
X
#
Elective
4. Method(s) of delivery (check all boxes that apply for both current/proposed and expected
future delivery methods within the next three years):
Current or
Proposed Delivery
Method(s):
X
On-campus (face to face)
Expected
Future Delivery
Method(s):
X
Distance Course (face to face off campus)
Online (delivery of 50% or more of the instruction is offered online)
5. Justification (must cite accreditation and/or assessment by the graduate faculty) for new course
or course revision or course renumbering:
The graduate faculty of the Department of Economics identified a need in government, the
private sector, and in academia for PhD graduates with advanced analytic and technical
skills necessary for analysis, mitigation, management and regulation of risk—both
environmental and financial. This requires an understanding of the underlying individual
decision maker and firm behavior and their interaction within market and nonmarket
settings. Theoretical modeling and empirical analysis complete the picture and allow for
the identification of effective public policy and regulation. This doctoral program is
unique within the state of North Carolina because it emphasizes risk modeling and
analysis over a broad scope of applications that range from financial markets to natural
hazards. Students with training from this program will be well equipped to qualify for
high level positions within Federal and State Agencies that deal with natural hazards and
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regulation of risk, as well as businesses for management and mitigation of risk.
The assessment process of the Economics Graduate Faculty has determined that this
course will be part of the core theory sequence.
6. Course description exactly as it should appear in the next catalog:
8212. Macroeconomic Theory II (3) P: ECON 8211. Analysis of business cycles using
canonic positive macroeconomic models; disequilibrium macroeconomic dynamics;
normative analysis of monetary and fiscal policy using macroeconomic models.
7. If this is a course revision, briefly describe the requested change:
N/A
8. Course credit:
Lecture Hours
3
3
Weekly
OR
Per Term
Credit Hours
s.h.
Lab
Weekly
OR
Per Term
Credit Hours
s.h.
Studio
Weekly
OR
Per Term
Credit Hours
s.h.
Practicum
Weekly
OR
Per Term
Credit Hours
s.h.
Internship
Weekly
OR
Per Term
Credit Hours
s.h.
Other (e.g., independent study) Please explain.
s.h.
3
Total Credit Hours
s.h.
6
9. Anticipated annual student enrollment:
10. Changes in degree hours of your programs:
Degree(s)/Program(s)
Changes in Degree Hours
PhD in Economics
N/A
11. Affected degrees or academic programs, other than your programs:
Degree(s)/Program(s)
Changes in Degree Hours
12. Overlapping or duplication with affected units or programs:
X Not applicable
Documentation of notification to the affected academic degree programs is
attached.
13. Council for Teacher Education (CTE) approval (for courses affecting teacher education):
X Not applicable
Applicable and CTE has given their approval.
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14. University Service-Learning Committee (USLC) approval:
X Not applicable
Applicable and USLC has given their approval.
15. Statements of support:
a. Staff
Current staff is adequate
X
Additional staff is needed (describe needs in the box below):
b. Facilities
X Current facilities are adequate
Additional facilities are needed (describe needs in the box below):
c. Library
X
Initial library resources are adequate
Initial resources are needed (in the box below, give a brief explanation and an
estimate for the cost of acquisition of required initial resources):
d. Unit computer resources
X
Unit computer resources are adequate
Additional unit computer resources are needed (in the box below, give a brief
explanation and an estimate for the cost of acquisition):
Six additional computers
e. ITCS resources
X
ITCS resources are not needed
The following ITCS resources are needed (put a check beside each need):
Mainframe computer system
Statistical services
Network connections
Computer lab for students
Software MATLAB
Approval from the Director of ITCS attached
16. Course information (see: Graduate Curriculum and Program Development Manual for
instructions):
a. Textbook(s) and/or readings: author(s), name, publication date, publisher, and
city/state/country. Include ISBN (when applicable).
Required:
Ljungqvist, L. & Sargent, T. J. (2000). Recursive Macroeconomic Theory. Cambridge:
MIT Press. ISBN: 978-0262122740
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Lucas, R. E., Stokey, N., & Prescott, E. C. (1989) Recursive Methods in Economic
Dynamics. Harvard University Press. ISBN:978-0674750968
Recommended:
Barro, R. J. and Sala-I-Martin, X. (1998) Economic Growth. New York: McGraw Hill.
ISBN: 978-0674750968
Romer, D. (2001). Advanced Macroeconomics. New York: McGraw Hill. ISBN: 9780073511375
Walsh, C. E. (1998). Monetary Theory and Policy. Cambridge: MIT Press. ISBN: 9780262013772
Barro, R. J. (1997). Macroeconomics. Cambridge: MIT Press. ISBN: 978-1429218870
b. Course objectives for the course (student – centered, behavioral focus)
Upon completion of this course, students will be able to:



Evaluate business cycle regularities in modern developed economies
Demonstrate mastery of canonic macroeconomic models and apply those
models to analyze business cycles
Utilize normative models in analyzing monetary and fiscal policies.
c. Course topic outline
1. Business cycle regularities
2. Economic intuition in finite-horizon models:
Consumer behavior and the consumption demand
Labor-leisure choices
3. Positive macroeconomic theory with infinite-horizon models
Efficient allocations (without uncertainty)
Equilibrium concepts (without uncertainty)
Growth theory
Real business cycle analysis (with uncertainty and labor-leisure choices)
4. Normative macroeconomic theory
Optimal fiscal policy
Optimal monetary policy
Optimal fiscal and monetary policy
Time consistency
d. List of course assignments, weighting of each assignment, and grading/evaluation system
for determining a grade
Assignments
60%
Midterm
20%
Comprehensive Final 20%
Evaluation System
A
90% to 100%
B
89% to 80%
C
79% to 70%
F
Below 70%
Outstanding Performance
Acceptable Performance
Inadequate Performance
Failure
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