Intermediate Macroeconomics
Economics 3800 – Fall 2015
J. J. Arias
Course Overview & Objective
Macroeconomics is the study of an entire economy. Therefore, we focus on economy-wide
variables such as output, employment and inflation. Since this is a theory course, we will use
various macroeconomic models to answer questions such as the following: What are the causes of
long-run economic growth? What are the causes of unemployment? What effect does government
spending have on interest rates and output? Why causes recessions? How does the use of money
affect the “real” side of the economy? How effective is monetary and fiscal policy in stabilizing the
economy? The overall objective is to apply the economic way of thinking to understanding the economy as
a whole.
Class Time & Location
Tuesday & Thursday, 9:30 – 10:45 am, Atkinson Hall 105
Pre-requisites
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Principles of Microeconomics (Economics 2106)
Principles of Macroeconomics (Economics 2105)
Junior or Senior standing
A working knowledge of algebra
Required Texts
Macroeconomics, 8th edition by N. Gregory Mankiw (ISBN: 9781464105111)
The Wall Street Journal (15-week subscription)
Office Hours
Tuesday & Thursday 12:15 – 1:45 p.m., and by appointment
Office: 421 Atkinson Hall
Phone: 445-2085
Email: jj.arias@gcsu.edu
Web page: jjarias.gcsu.edu
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Course Grade
Grades are based on a series of Wall Street Journal quizzes worth 20%, two exams each worth 25%
and a final exam worth 30%.
Problem Sets
I will also provide problem sets that are closely related to the lecture material. The main purpose
of the problem sets is to help you learn the material and practice working problems. You will not
turn these in for grading. I recommend you seriously attempt to do the problem sets, and that you
work in groups. I will go over at least some of the problems in class before exam day.
Wall Street Journal Quizzes
You can subscribe for 15 weeks at WSJ.com/studentoffer. I will assign weekly online quizzes on
selected articles.
Cell Phone Policy
Please turn off or silence cell phones before class and do not text-message during class. I will stop
lecture and give one warning when I see someone texting. After one warning, you will need to
leave the classroom or give me your phone for the remainder of the class.
Common Class Policies
The other standard class policies are available at the following links:
http://economics.gcsu.edu/general%20syllabus%20statements.htm;
http://www.gcsu.edu/registrar/syllabus.htm
Academic Dishonesty
Students are expected to know and abide by the university honor code, available at
http://www.gcsu.edu/studentlife/handbook/code.htm. The minimum penalty for academic
dishonesty is a zero on the assignment or exam, which usually results in an F in the course.
Advice
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Attend class, listen carefully, ask questions and take good notes.
Review and annotate, rewrite or outline your notes soon after class.
Do your best on the problem sets, and work in groups.
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Reading List
There will be lecture material that is not in the textbook. The lectures will emphasize modern
macroeconomics (i.e. micro foundations) more than the text does. However, since the theories of
John Maynard Keynes have contributed to the development of macroeconomics—and because
they remain influential among journalists, politicians, some intellectuals and many pseudointellectuals—we will spend some time on the Keynesian perspective. In addition to the textbook
chapters below, I will assign supplemental readings throughout the semester.
Topic
I. Introduction & Data
II. Quasi—Classical Model
III. Labor Market
IV. Money & Inflation
V. Consumption & Savings
VI. Investment
VII. Growth
VIII. Business Cycles
IX. Unemployment
X. Policy and Expectations
Reading
Chapters 1 and 2
Chapters 3
Labor Market Equilibrium, Uncertainty and the Slow Labor
Market Recovery
Chapters 5
Chapter 16 and 19, Ricardian Equivalence without Graphs
Chapter 17
Chapters 8 & 9, Economic Growth
Chapters 10, 11 and 12
Chapter 7
Chapter 14
Tentative Exam Dates
Exam I – Thursday, September 17
Exam II – Thursday, October 29
Final Exam – Thursday, December 10, 8:00 – 10:15 a.m.
Exam Policies
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If you are a student that requires special arrangements for exams due to a disability, please
come and see me before the first exam.
I do not give grades via phone or e-mail. I usually return and go over exams during the next
class period.
You will need a small, blue book for each exam. I will redistribute blue books before the exam.
Do not write your name on the blue book until I finish exchanging them.
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