MACROECONOMICS SCHEDULE 2011
Block
Date
Mc
Ch
Topics
0
1/4
1
2
3
Assignments
due/activities
Introduction to macroeconomics
1/6
1/10
1/12
23
24
24
Introduction to macroeconomics
Measuring domestic output and national income
Measuring domestic output and national income
4
Exam
5
6
1/14
1/21
1/26
1/28
25
7
2/1
26
8
2/3
Economic growth
Exam
Exam review & Micro recap
Business cycles and
Unemployment
Inflation
REVIEW
UNIT I Test
9
2/7
27
10
2/9
27
11
12
2/11
2/15
28
28
Aggregate expenditures model
Aggregate expenditures model
Vocab quiz
Vocab quiz
13
2/17
29
Aggregate demand
Vocab quiz
14
2/22
29
Aggregate supply
Vocab quiz
15
2/24
16
2/28
30
17
3/2
30
18
3/4
31
Money and banking
19
3/8
32
20
21
22
3/10
33
23
3/16
35
Review test
Extending aggregate supply
24
3/18
35
Extending aggregate supply
25
26
3/22
3/24
36
36
Issues in macroeconomics
Issues in Macro
Vocab quiz
Vocab quiz
27
3/28
37
International trade
Vocab quiz
28
3/30
37
International trade
26
Class activities (some t.b.d.)
Vocab quiz
Vocab quiz
Test: Ch 23-26
Go over Unit 1 test
Basic macroeconomic
relationships
Basic macroeconomic
relationships
Activity 19- Keynesian
equilibrium
Review test
Begin Unit 3
Go over Unit 2 Test
Fiscal policy, deficits and debt
Read Ch. 28
Vocab+
Activity 21- Multiplier
Activity 22- Investment
demand
Intro to short-run
aggregate demand (24)
Short-run equilibrium
price level & output (25
Vocab+
Read Ch. 29
Vocab+
Vocab+
Study
Effects of fiscal policy
(30)
Read Ch. 31
Vocab+
Vocab quiz
All about the Ms (35)
Money creation
Vocab quiz
Interest rates and monetary policy
Catch up for Unit 3or free resp.
Unit III Test
Vocab quiz
Expansion of checking
deposits (37)
Monetary Policy (42)
Read Ch. 32
Vocab+
Read Ch. 33
Vocab+
Read Ch. 35
Vocab +
Vocab +
Short-run Phillips
Curve (46)
4/5
38
30
31
4/7
4/11
38
Exchange rates & trade deficits
*
Unit test
*
Determining comparative advantage (49)
Read Ch. 36
Vocab +
Vocab +
Read Ch. 37
Vocab +
Vocab
Read Ch. 38
29
*
Vocab+
Study
Read Ch. 27
Vocab +
Vocab +
Read Ch. 30
Vocab +
Vocab +
End of 3 rd quarter: April 1 *
Balance of payments
Vocab quiz
*
Vocab+
Activity 20- APC, APS,
MPC, MPS, etc.
Unit II Test
3/14
*
Activity 16- Types of
unemployment
Activity 14- Inflation
game?
Homework
*
Vocab quiz
*
*
Balance of payments
(52)
Exchange rates (53)
Vocab +
STUDY!
VOCAB TERMS
Block 5: Business cycle, recession, unemployment rate, 3 types of unemployment (frictional, structural and cyclical), full
rate of unemployment, natural rate of unemployment
Block 6: GDP gap, Okun’s Law, CPI, demand-pull v. cost-push inflation, deflation
Block 8: Consumption schedule, Savings schedule, Break-even income
Block 9: Average propensity to consume (save), Marginal propensity to consume (save), Wealth effect, Expected rate of
return, Multiplier
Block 10: Planned investment, Investment schedule, Aggregate expenditures schedule, Equilibrium GDP
Block 11: Leakage, Injection, Unplanned changes in inventory, Net exports, Expenditure gap (inflationary or
recessionary)
Block 12: Aggregate demand-aggregate supply (AD-AS) model, Aggregate demand, Real-balances effect, Interest rate
effect, Foreign purchases effect, Determinants of aggregate demand
Block 13: Aggregate supply, Short-run aggregate supply curve, Determinants of aggregate supply, Productivity,
Equilibrium price level, Equilibrium real output
Block 15: Fiscal policy (also expansionary and contractionary fiscal policy), Budget deficit/surplus, built-in (automatic)
stabilizers,
Block 16: Progressive tax system, proportional tax system, regressive tax system, crowding out effect, public debt, US
securities
Block 17: Liquidity, M1, checkable deposits, commercial banks, Federal Reserve System, Federal Open Market
Commission
Block 18: Fractional reserves banking system, Balance sheet, Required reserves, Reserve ratio, Excess reserves, Federal
funds rate, monetary multiplier
Block 19: Monetary policy, Interest, Total demand for money, Open market operations, Discount rate, Term auction
facility, Federal funds rate, Prime interest rate, Taylor Rule
Block 22: Phillips Curve; Stagflation; Aggregate supply shocks; Long-run vertical Phillips Curve
Block 23: Disinflation, Supply-side economics; Laffer Curve
Block 24: Monetarism; Velocity; Coordination failures, Rational expectations theory
Block 25: Efficiency wage, monetary rule
Block 26: Principle of comparative advantage, Terms of trade, Trading possibilities line, World price v. domestic price
Block 27: Export supply curve, Tariffs (types), Quotas, Dumping, World Trade Organization (WTO)
Block 28: Balance of payments, Current account, Trade deficit, Trade surplus, Capital and financial account, Official
reserves
Block 29: Floating exchange rate system; Fixed-exchange-rate system; Purchasing power parity theory; Currency
intervention; Exchange controls