MACRO ECONOMICS SCHEDULE 2012
Block
Date
5
1/24
1/25
1/26
1/27
1/30
1/31
2/1
2/2
6
7
8
Mc
C
Ch
26
26
27
Aggregate supply
Vocab quiz
TEST
Test: Ch 27-29
Chapters 1-6 of
Naked Economics
31
Review test and begin
Unit 3
Go over Unit 2 Test
Fiscal policy, deficits
and debt
Money and banking
32
33
10
2/7
2/8
2/9
2/10
2/13
2/14
2/15
2/16
2/17
2/21
2/22
2/23
28
2/24
2/27
2/28
2/29*
3/1
3/2
3/5
3/6
14
15
16
17
18
19
21
20
21
22
23
24
25
26
3/7
3/8
3/9
3/12
3/13
3/14
3/15
3/16
3/19
3/20
3/21
3/22
3/23
3/26
3/28
3/29
30
30
Class activities (some t.b.d.)
Homework
Activity 16: Unemployment &
Activity 17: Business Cycle
Activity 15: Inflation
Vocab+
-Go over test
Activity 20: APC, APS, MPC
& MPS
Activity 21: Multiplier
Read Ch. 27
Vocab+
Activity 22: Investment
demand
Activity 23: Aggregate
demand
Activity 25: Equilibrium price
level and output
Read Ch. 29
Vocab+
Vocab+
Test: Ch 23-26
29
28
13
Vocab quiz
29
2/3
2/6
12
Business cycles and
Unemployment
Inflation
REVIEW
Test
Assignments
due/graded
activities
Vocab quiz
Go over Unit 1 Test
Basic macroeconomic
relationships
Basic macroeconomic
relationships
Aggregate expenditures
model
Aggregate Expenditures
Model
Aggregate demand
9
11
Topics
Vocab quiz
Vocab quiz
Vocab quiz
Vocab+
Study
Read Ch. 27
Read Ch. 28
Vocab+
Vocab+
Study
Read Ch. 30
See unit 3 schedule
Activities 30-32: Effects of
fiscal policy
Read Ch. 30
Vocab+
Vocab quiz
Activity 35: All about the Ms
Money creation
Vocab quiz
Interest rates and
monetary policy
Test
Vocab quiz
Activity 37: Expansion of
checking deposits
Activity 42: Monetary Policy
Read Ch. 31
Vocab+
Read Ch. 32
Vocab+
Read Ch. 33
Vocab+
Test: Ch 30-33
Read Ch. 34 (not tested)
Vocab+
Study
35
Review test and begin
Unit 4
Go over Unit 3
Extending aggregate
supply
Aggregate supply
Vocab quiz
Read & vocab
36
Issues in Macro
Vocab quiz
Read & vocab
37
International trade
Vocab quiz
38
Balance of payments
Vocab quiz
38
Exchange rates & trade
deficits
Test
Chapters 7-12 of
Naked Economics
Test: Ch 35-38
35
See unit 4 schedule
#46: Short-run Phillips Curve
Read & vocab
#49: Determining comparative
advantage
#52: Balance of payments
Read & vocab
#53: Exchange rates
STUDY!
Read & vocab
*Whichever block misses class for the field trip to the Fed will make up the content during the nearest Flex period.
VOCAB TERMS
Block 1: The business cycle; recession; real gross domestic product (GDP); nominal GDP; inflation.
Block 2: National income accounting; value added; expenditures approach (know parts); income approach (know parts)
Block 3: National income; personal income; disposable income; price index
Block 4: Economic growth; real GDP per capita; labor productivity; infrastructure; human capital
Block 5: Peak; trough; labor force; unemployment rate; three types (frictional, structural and cyclical) of unemployment
Block 6: Okun’s law; Consumer Price Index (CPI); Demand-pull v. cost-push inflation; deflation; hyperinflation
Block 8: Average propensity to consume (save), Marginal propensity to consume (save), Wealth effect, Expected rate of
return, Multiplier
Block 9: Planned investment, Investment schedule, Aggregate expenditures schedule, Equilibrium GDP
Block 10: Leakage, Injection, Unplanned changes in inventory, Net exports, Expenditure gap (inflationary or
recessionary)
Block 11: Aggregate demand-aggregate supply (AD-AS) model, Aggregate demand, Interest rate effect, Determinants of
aggregate demand
Block 12: Aggregate supply, Short-run aggregate supply curve, Determinants of aggregate supply, Productivity,
Equilibrium price level, Equilibrium real output
Block 15: Budget deficit/surplus, built-in (automatic) stabilizers, progressive tax system, crowding out effect, US
securities
Block 16: Liquidity, M1, commercial banks, Federal Reserve System, Federal Open Market Commission
Block 17: Fractional reserves banking system, reserve ratios, Federal funds rate, monetary multiplier
Block 18: Monetary policy, open market, discount rate, prime interest rate, Taylor Rule
Block 20: Phillips Curve; Stagflation; Aggregate supply shocks; Long-run vertical Phillips Curve
Block 21: Supply-side economics; Laffer Curve
Block 22: Monetarism; Velocity; Rational expectations theory
Block 23: Trading possibilities line, export supply curve, tariffs (types), Dumping, World Trade Organization (WTO)
Block 24: Balance of payments; Current account; Trade deficit; Trade surplus; Official reserves
Block 25L Floating exchange rate system; Fixed-exchange-rate system; Purchasing power parity theory; Currency
intervention; Exchange controls
TABLES, GRAPHS, ETC.
Block 2: Do key question #8 on page 496 of the textbook.
Block 3: Copy figure 24.3 from page 489 of the textbook.
Block 6: Create a CPI Index table with 2000 as the base year (=100). Inflation each of the successive years was 2001-4%;
2002- 5%; 2003- 5%; 2004- 3%; 2005- 6%; 2007- 2.5%; 2008-3%. Convert the average 2009: salary- $57,655;
automobile price- $22,360; and home price $174,886 to 2000 dollars, and compare them to their comparable
values at that time, respectively $48,243; $20,788; and $142,903. Are people better or worse off now than they
were in 2000?
Block 8: Create a table for years 2006-2010 with columns for salary, total consumption and total savings. Assume
respective salaries of $35,000, $38,000, $43,000, 46,000 and $50,000 and an MPC of 0.9. What are total savings
after 5 years?