Economics 403 Spring 2013
Professor R. Harris.

PREREQUISITES:  ECON 302, 305 and 331. Students who have completed both MATH 232 and MATH 251 may substitute these courses for ECON 331.  Entry into this course requires a minimum CGPA of 3.0 or a minimum grade of A- in both ECON 302 and 305. Students seeking permission to register based on 302 and 305 grades must contact the Undergraduate Advisor in Economics.  Quantitative.


 The course will consist of a mixture of theory and analysis of current macroeconomic issues.  The first six weeks will consist of lectures on the relevant economic theories dealing with topics such as business cycle theory, monetary theory and polices, and the global financial crisis.  Students will be required to prepare a major paper which will also be presented in class.  Essay topics will be assigned in the first week of classes.  Lecture will be based on part 2 of the Sorensen & Whitta-Jacobsen text.   Students will make two presentations in class: 1) a presentation on one of the important  macroeconomic indicators  and 2) a presentation of the paper.

  Required Textbook:

 Peter Birch Sorensen and Hans Jorgen Whitta-Jacobsen, Introducing Advanced Macroeconomics, Second Edition  McGraw-Hill Education, 2010.


 Class presentations (20%), essay (40%) and a final exam (40%).

Link to Essay Topics for this Semester in Economics 403

Link to Data Release Presentation Information

Lecture Outline and Timetable

Week 1: measurement and investment (text chpts 13 &14)

Week 2: investment, asset prices and consumption (chpts 14&15)

Week3: monetary policy and aggregate demand (chpt16)

Week 4: inflation and aggregate supply (chpt 17)

Week 5: AD and AS: explain the Business Cycle (chpt 18)

Week 6: Break Week (Feb 11)

Week 7: stabilization why and how (chpt 19&20)

Week 8: rational expectations and rules vs discretion (chpt 22 &22)

Week 9  March 4 Midterm Exam/ Intro to Depression Economics

Week 10: Liquidity traps and zero bounds

Week 11:  Fiscal Policy: austerity vs. stimulus

Week 12: Presentation of Projects

Week 13 Presentation of Projects

Week 14 Presentation of Projects