Econ 7920/Fall 2009
Business
Macroeconomics
MW 9:30-10:45 AM
August 17-October 7
Sanford 312
COURSE OBJECTIVES
This course develops the foundations of modern macroeconomic
theory with emphasis on its relevance for business managers and executives
making decisions in an increasingly “globalized” world. The focus will both be on general issues such
as the determination of aggregate output, inflation, economic growth and
expectations, as well as on special topics such as GDP accounting, balance of
payments, and exchange rates.
PRE-REQUISITES
Permission of department. Not open to students with credit in
Econ 8920.
TEXTBOOK
David A. Moss, A Concise Guide to Macroeconomics: What Managers,
Executives, and Students Need to Know. Harvard Business School Press, 2007.
COURSE OUTLINE
1.
Output
· National Income
Accounting and Measurement
· International Trade and
Balance of Payments
· Economic Growth and
Public Policy
· Business Cycles
2.
Money
· Functions and Types
· “Price” of Money:
Interest Rate, Exchange Rate, and Price Level
· Central Banks and Money
Supply: the “Quantity Theory” of Money
· Monetary Policy in a
Closed and Open Economy
· Real and Nominal
Variables
3.
Expectations
· Public Policy and
Expectations
· Formation of
Expectations: Adaptive and Rational Expectations Hypotheses
· Monetary Policy,
Expectations, and Inflation Targeting
· Economics of Price and
Wage Controls
· Expectations and Output
· Liquidity Traps and
Deflation
·
Fiscal Policy and Expectations
CHANGES TO THE SYLLABUS
The
course syllabus is a general plan for the course; deviations announced to the
class by the instructor may be necessary.
ASSIGNMENTS
1.
Homework assignments will
be given out on a weekly or bi-weekly basis (depending on the pace of the
course). There will be between 3-6
assignments over the duration of the course.
Note: All homework
assignments, solutions, and announcements will be posted on the course web
site. Hard copies will not be handed out in class. So please bookmark this page for future use.
Late assignments will
NOT be accepted under any circumstances.
2. Group Project: Each group must prepare a report/paper and presentation on a topic that
has a macroeconomic application. A list
of potential topics will be provided to the class and the instructor will
assign topics to groups after considering their preferences. The final projects will be due for submission
by 10 PM on October 11, 2009. More
information on the topics, content, and presentation schedule will be discussed
in class.
3.
A Final Examination will
be given on Wednesday, October 7.
COURSE REQUIREMENTS AND
GRADING POLICY
Your final grade will be determined by three
factors: (i) homework assignments, with a weight of 30%, (ii) a group project
and presentation, with a weight of 40%, and (iii) a final examination, with a
weight of 30%.
Final grades will be assigned on a “+/-” basis.
Letter grades for this course will be based on the following cutoffs:
· A =
96–100
· A- =
90-95
· B+ =
87–89
· B =
84-86
· B- =
80-83
· C+ =
77-79
· C =
74-76
· C- = 70-73
· D =
60-69
· F =
0-59
The
instructor reserves the right to change the letter grade cutoffs.
ATTENDANCE POLICY
You are expected to attend all
classes. If you are absent due to illness or emergency, please contact me as
soon as possible in order to receive instructions about the material you
missed.
EXAM MAKE-UP POLICY
Make-up
exams will NOT be given under
any circumstances.
UNIVERSITY HONOR CODE
& ACADEMIC HONESTY POLICY
As a University of
Georgia student, you have agreed to abide by the University’s academic honesty
policy, “A Culture of Honesty,” and the Student Honor Code. All academic work
must meet the standards described in “A Culture of Honesty” found at: www.uga.edu/honesty. Lack of knowledge of the academic honesty policy is not a
reasonable explanation for a violation. Questions related to course assignments
and the academic honesty policy should be directed to the instructor.
GOOD
LUCK!
Last
revised: October 5, 2009