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Econ 2002 Course Outline 2018

This document provides information about an intermediate macroeconomics course offered at the University of the West Indies, Mona. The course delves deeper into macroeconomic theory using models like IS-LM and AD-AS. It explores factors that influence economic growth and examines macroeconomic issues in open economies. Upon completing the course, students should be able to define key macro variables, use the Solow growth model, and apply macroeconomic frameworks to analyze policy changes and issues in the Caribbean context. The course involves weekly lectures, tutorials, and assessments including a midterm and final exam. Topics to be covered include national income accounting, inflation, economic fluctuations, fiscal and monetary policy.

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Simone Brown
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88 views3 pages

Econ 2002 Course Outline 2018

This document provides information about an intermediate macroeconomics course offered at the University of the West Indies, Mona. The course delves deeper into macroeconomic theory using models like IS-LM and AD-AS. It explores factors that influence economic growth and examines macroeconomic issues in open economies. Upon completing the course, students should be able to define key macro variables, use the Solow growth model, and apply macroeconomic frameworks to analyze policy changes and issues in the Caribbean context. The course involves weekly lectures, tutorials, and assessments including a midterm and final exam. Topics to be covered include national income accounting, inflation, economic fluctuations, fiscal and monetary policy.

Uploaded by

Simone Brown
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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THE UNIVERSITY OF THE WEST INDIES, MONA

ECON2002
Intermediate Macroeconomics I
Semester I, 2018-19
Pre-requisites: ECON1002 & ECON1003 or ECON1006 or MATH1150 or MATH1180
Lecturer: Andre Haughton PhD (andre.haughton02uwimona.edu.jm)

Description
This course is the first of the two course intermediate macroeconomics sequence. The introduction
briefly looks at the evolution of macroeconomics and revisits the measurement of key
macroeconomics variables, including but not limited to GDP, inflation and unemployment. Building
upon the content covered in the pre-requite principles courses, this course delves deeper into
macroeconomic theory using the traditional approach. To this end the IS-LM and AD-AS models are
explored within the business cycle. Fiscal and monetary policies are also explored within the
context of the business cycle instead of being isolated on their own. Economic growth and the lack
thereof are explored via simple Solo growth model. Factors relevant to an open economy such as
exchange rates and international capital flow are also examined. Topical questions explored in this
course include; what factors contribute to economic growth or depression? Why do some countries
grow faster than others?

Learning Outcomes
Upon successful completion of this course, students should be able to:

 Define, measure and use macroeconomic variables such as GDP, inflation, and
unemployment
 Use the Solow model to explain why some countries grow faster than others
 Evaluate the causes, effects and cost of inflation
 Examine Macroeconomic issues in an open economy framework
 Describe how the Macro economy operates in short and long run theory
 Use AD-AS framework to explain macroeconomic phenomena
 Construct and use the IS-LM model to analyze macroeconomic relations
 Use course content to examine macroeconomic issues in the Caribbean within a global
context

Modes of Delivery
Two lecture hours per week, one tutorial hour per week beginning the third week in the semester.
Lecture notes, Problem sets (not for grading) and other course material will be provided for
practice via OURVLE
Assessment
Mid-Semester Exam – 40% and Final Exam – 60%
Assignment and Exams time and dates to be announced

Syllabus
Topic/Information *Readings

Week 1 Introduction Chapter 1


- How economist think

Week 2 National Income, Inflation and Unemployment Chapters 2 &3


- GDP, CPI, U, etc

Week 3 National Income, Inflation and Unemployment Chapters 2 &3


- continued

Week 4 Inflation; causes effects and costs Chapter 5


- Quantity theory, expected inflation, etc

Week 5 The Open Economy Chapter 6


- Imports, exports, exchange rates, etc

Week 6 The Solow Model Chapter 8


- Capital Accumulation, the steady state, etc

Week 7 The Solow Model and Technological Progress Chapter 9

Week 8 Solow Model continued and exam Review

Week 9 Mid-semester exam Chapter 1,2,3,5,6,8


and 9

Week 10 Economic Fluctuation Chapter 10


- Short run AD-AS framework, etc

Week 11 Building the IS-LM model Chapter 11


- Goods Market and Money Market equilibria

Week 12 Applying the IS-LM model Chapter 12


- Fiscal and Monetary Policy changes

Resources
Recommended
Required Textbook: Macroeconomics - Mankiw, Gregory (8/E)
Recommended Textbook: Macroeconomics - Abel, Bernanke, & Crushor
(7/E)
Extra reading: The Economist, The Financial Times and The Briefing (Jamaica
Gleaner)

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