Honors | Introduction to Macroeconomics
S202 | 1656 | Witt, W.


This course is an introduction to analysis of the economy as a whole. It
emphasizes  the interrelationship between events in the economy's markets
for goods, for financial assets, and for factors of production. The course
begins with an overview of the structure of the macro economy, and then
turns to the forces determining the long-run path of the economy.
Questions examined in this section include: What determines the rate of
economic growth? What factors explain the overall behavior of prices?
Policy issues include the implications of government budget deficits and
the effects of and prospects for the Social Security system.

After this look at long-run forces, the rest of the course focuses on the
shorter cyclical fluctuations which characterize industrial economies.
Interactions between the markets for goods, financial markets, and the
labor market will be central to this discussion.  In this part of the
course, the effects of monetary policy actions by the Federal Reserve will
be examined.  The role of interactions with the rest of the world will
also be studied.

The course has two lectures each week.  Grades will be based primarily on
two midterm exams and a final exam. There will be several homework
assignments during the semester (accounting for about 15% of the course
grade).