Professor Christiaan Hogendorn
Spring 2016
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○ Items with an open circle are just for background, not required.
SW = Joseph Stiglitz and Carl Walsh, Economics, Norton, 4th or [3rd] ed.
Course Policies and Grading Information
| Jan. 25 M | 1. A Brief History of Economics ● SW: 1 ● Review: SW: 2 Appendix |
| Jan. 27 W | 2. Money, Inflation, and the “Dark Side” ● SW: 28 pp. 615–620 [25 pp. 518–523] ● SW: 23 all [23 pp. 472–479] ○ BLS Consumer Price Index Data ○ The Portrait of a Lady Trailer ○ Glory Trailer |
| Feb. 1 M | 3. Markets for Goods and Services ● SW: 3 [4] ○ EIA Petroleum Data ○ 2013 Oil Data |
| Feb. 3 W | 4. Elasticity ● SW: 4 [5] Problem Set 1 due. Answers. |
| Feb. 8 M | 5. Consumer and Producer Surplus ● SW: 10 read up to General Equilibrium. |
| Feb. 10 W | 6. Controls and Taxes ● Review discussion of taxes in SW 4 [5] and SW 10. ○ Tax Rates Problem Set 2 due. Answers. |
| Feb. 15 M | 7. International Trade ● SW: 19 [18]. ○ Katie Allen, “World Trade Organisation: 20 years of talks and deadlock” The Guardian, December 15, 2015. |
| Feb. 17 W | 8. Externalities and the Environment ● SW: 18 [21] Problem Set 3 due. Answers. |
| Feb. 22 M | 9. Production and Costs ● SW: 6 [7] |
| Feb. 24 W | FIRST MIDTERM Covers classes 1–6, Problem sets 1–3. Exam. Answers. |
| Feb. 29 M | 10. The Perfectly Competitive Firm ● SW: 7 [8] |
| March 2 W | 11. The Imperfectly Competitive Firm ● SW: 12 Problem Set 4 due. Answers. |
| SPRING BREAK | |
| March 21 M | 12. The Labor Market ● SW: 8 [9] |
| March 23 W | 13. The Value of a Firm ● SW: 9 |
| March 28 M | 14. The Capital Market ● SW: 39 [17] ○ Old Bond |
| March 30 W | 15. Imperfect Factor Markets ● SW: 16 [15] Problem Set 5 due. Answers. |
| April 4 M | 16. Introduction to Macroeconomic Models ● SW: 21, 22 [22, 23] ● SW: 24 ○ BEA GDP Data ○ Nationmaster GDP Data ○ Armenter, R. (2015). A bit of a miracle no more: the decline of the labor share. Business Review, (Q3), 1–9. |
| April 6 W | 17. Savings, Investment, Government ● SW: 25, 26 ○ IMF Savings and Investment Data. Problem Set 6 due. Answers. |
| April 11 M | 18. Growth ● SW: 27 [27] ○ Eswar Prasad, Raghuram Rajan, and Arvind Subramanian, “The Paradox of Capital,” Finance and Development, 44(1), March 2007. ○ BLS Productivity Data ○ Dani Rodrik, “Making Room for China in the World Economy,” American Economic Review, 2010. |
| April 13 W | SECOND MIDTERM Covers classes 7–15, Problem sets 4–6. Exam due. Answers. |
| April 18 M | 19. Central Banks ● SW: 28 pp. 618–632 [25 pp. 518–528] ● Phil Davies, “Right on Target: A behind-the-scenes look at open market operations, the Fed’s big stick of monetary policy,” The Region, December 2004: 39–48. ○ Interview with Gary Gorton, Yale University finance economist on the growth and collapse of shadow banking, The Region, December 2010. |
| April 20 W | 20. Money and the Real Economy ● SW: 28 and 34 [25 and 34] ○ Federal Reserve Money Supply Data ○ Niel Willardson, “Actions to Restore Financial Stability,” The Region, Federal Reserve Bank of Minneapolis, December 2008. Problem Set 7 due. Answers. |
| April 25 M | 21. Unemployment and Business Cycles ● SW: 29 [28] ○ NBER Business Cycles ○ BLS Unemployment Data |
| April 27 W | 22. Aggregate Demand and Inflation ● SW: 31 [30]. Problem Set 8 due. Answers. |
| May 2 M | 23. Macroeconomic Policy ● SW: Chapter 33 titled “The Role of Macroeconomic Policy” |
| May 4 W | 24. Household Choices Revisited ● SW: 5 Appendix [6 Appendix] Problem Set 9 due. Answers. |
| May 9 M | Review Session 1:10–2:30 PAC 002 Problem Set 10. |
| May 10 T | FINAL EXAM Sitting 1 2–5pm PAC 004 |
| May 11 W | FINAL EXAM Sitting 2 2–5pm PAC 002 |
