Professor Christiaan Hogendorn
Fall 2017
Items marked with ! are not yet available.
○ Items with an open circle are just for background, not required.
TT = Timothy Taylor, The Instant Economist, Penguin, 2012.
FD = Melanie Fox & Eric Dodge, Economics DeMYSTiFieD,
McGraw-Hill, 2012.
Course Policies and Grading Information
| Sept. 5 T | 1. A Brief History of Economics ● FD Chapter 1 ● TT Chapters 1 and 2 |
| Sept. 7 Th | 2. Money, Inflation, and the “Dark Side” ● FD Chapter 13 pp. 205–211 ● FD Chapter 15 pp. 239–242 ● TT Chapter 22 ● TT Chapter 29 ○ Washington Square move clip (in class). ○ BLS Consumer Price Index Data ○ CPI Data back to 1800 (Minneapolis Fed) |
| Sept. 12 T | 3. Markets for Goods and Services ● FD Chapter 3 pp. 43–48. ● FD Chapter 5 pp. 75–78. ● FD Chapter 6 pp. 85–96. ● TT Chapter 3. ○ BP Statistical Review of World Energy Problem Set 1 due. Answers. |
| Sept. 14 Th | 4. Elasticity ● FD Chapter 3 pp. 48–56 ● TT Chapter 5 |
| Sept. 19 T | 5. Consumer and Producer Surplus ● FD Chapter 6 pp. 96–99 Problem Set 2 due. Answers. |
| Sept. 21 Th | 6. Controls and Taxes ● FD Chapter 6 pp. 99–105 ● TT Chapter 4 ○ Tax Rates |
| Sept. 26 T | 7. International Trade ● FD Chapter 17 especially pp. 295–297 ● TT Chapter 32 and 33 ○ Katie Allen, “World Trade Organisation: 20 years of talks and deadlock” The Guardian, December 15, 2015. Problem Set 3 due. Answers. |
| Sept. 28 Th | 8. Externalities and the Environment ● FD Chapter 18 ● TT Chapters 12, 13, and 14 |
| Oct. 3 T | FIRST MIDTERM Covers classes 1–6, Problem Sets 1–3. Exam. Answers. |
| Oct. 5 Th | 9. Production and Costs ● FD Chapter 4 and 5 |
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| Oct. 10 T | 10. The Perfectly Competitive Firm ● FD Chapter 7 Problem Set 4 due. Answers. |
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| Oct. 12 Th | Class Cancelled | |
| Oct. 17 T | 11. The Labor Market ● FD Chapter 10 ● TT Chapter 6 Problem Set 5 due. Answers. |
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| Oct. 19 Th | 12. The Imperfectly Competitive Firm ● FD Chapter 8 ● TT Chapters 9 and 10 |
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| FALL BREAK | ||
| Oct. 26 Th | 13. The Value of a Firm ● TT Chapters 7 and 18 |
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| Oct. 31 T | 14. The Capital Market ● TT Chapter 8 ○ Old Bond Problem Set 6 due. Answers. |
| Nov. 2 Th | 16. Introduction to Macroeconomic Models ● SW: 21, 22 [22, 23] ● FD Chapter 11 ● TT Chapter 19 ○ BEA GDP Data ○ IMF Data ○ Armenter, R. (2015). A bit of a miracle no more: the decline of the labor share. Business Review, (Q3), 1–9. |
| Nov. 7 T Election Day |
17. Savings, Investment, Government ● TT Chapter 26. Problem Set 7 due. Answers. |
| Nov. 9 Th | 18. Open Economy and Growth ● FD Chapter 17 Balance of Payments, pp. 293–294. ● TT Chappters 23 and 20 ○ Eswar Prasad, Raghuram Rajan, and Arvind Subramanian, “The Paradox of Capital,” Finance and Development, 44(1), March 2007. ○ BLS Productivity Data |
| Nov. 14 T | SECOND MIDTERM Covers classes 7–14, !Problem Sets 4–7. Exam due. Answers. |
| Nov. 16 Th | 19. Money and Banking ● FD Chapter 15 ● TT Chapter 29 ○ Interview with Gary Gorton, Yale University finance economist on the growth and collapse of shadow banking, The Region, December 2010. ○ Bank Run Clip from It’s a Wonderful Life |
| Nov. 21 T | 20. Unemployment and Business Cycles ● FD Chapter 12 ● TT Chapter 21 ○ NBER Business Cycles ○ BLS Unemployment Data Problem Set 8 due. Answers. |
| Thanksgiving Recess |
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| Nov. 28 T | 21. Aggregate Demand and Aggregate Supply ● FD Chapter 14 ○ Economic Data from FRED St. Louis Fed |
| Nov. 30 Th | 22. Fiscal and Monetary Policy ● FD Chapter 16 ○ Federal Reserve Money Supply Data ○ Niel Willardson, “Actions to Restore Financial Stability,” The Region, Federal Reserve Bank of Minneapolis, December 2008. |
| Dec. 5 T | 23. More on Monetary Policy Problem Set 9 due. Answers. |
| Dec. 7 Th | 15. Inequality ○ TT Chapters 15 and 16 |
| Dec. 12 T | Review Session Review Problem Set 10. |
| Dec. 13 W | FINAL EXAM 2:00–5:00pm, PAC 002 (our usual room) |
