Honors | Introduction to Macroeconomics - Honors (ECON)
S202 | 15069 | Willard Witte
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. Optional written projects may
be used to improve exam scores. There will be several homework
assignments during the semester (accounting for about 15% of the