Amherst College Department of Economics
Spring 2000 Professor Geoffrey Woglom
Office: 112 Morgan Hall Hours:
Fridays 2-3 and Tuesdays, 4-5, or by appointment.
Phone: 2433 E-mail: email@example.com
Materials to Purchase from The Jeffrey Amherst College Store:
N. Gregory, Mankiw, Macroeconomics, 4th. edit. 1999
R. Kaufman, Student Guide & Workbook to Accompany Mankiw 4 th. ed. (optional)
Readings Packet (Available at CopyCat Print Shop, 37 E. Pleasant St.)
There will be 8 quizzes, 8 problem sets,
a mini-exam, 2 mid-term exams, and a final. In your final average,
all of the quizzes will count 10 percent, all of the problem sets
10 percent; the mini-exam 5 percent, each mid-term exam 20 percent,
and the final exam 35 percent.
No make-up exams will be given. Students with a valid excuse for missing an exam will have their averages based on the other graded assignments. Please note that exams are scheduled for Wednesday evenings. If you have a conflict with this scheduling, notify me immediately.
Quizzes will begin promptly at the start of class and last for no more than 5 minutes. (e.g., This Thursday there will be a five minute quiz on Chs. 1-3 and the two supplemental readings). The lowest two quiz scores will be dropped, and no excuses will be given for missing quizzes, except in the case of a religious observance.
Late problem sets will be penalized 25 percent, and no problem sets will be accepted after the Monday following the week they are due.
The outside readings (listed below as OR) are all available in the Readings Packet. The supplemental readings (listed below as SR) are available as downloadable Adobe Acrobat Files from the course homepage. To make use of these files you must have an Adobe Acrobat Reader, which can be obtained for free by clicking on the following link Download Acrobat Reader and following the directions. After you have installed the reader on your own PC or MAC, click on the colored links to get a copy of the SRs. The problem sets are also downloadable, Problem Sets, as well as my suggestions for using the optional Student Guide and Workbook, Workbook
Jan. 27 Readings:
Chs. 1-3 (including the Appendix),
Supplemental Readin (SR): Some Simple Math Facts
SR: Skills from the Principles Course
Feb. 1 Readings: SR: Two Versions of Okun's Law
Feb. 2 Problem
Outside Reading (OR; in Readings Packet): "Readjusting the Lens,"
OR: "Beyond the Business Cycle"
OR: "Rattling the Piggy Bank"
Feb. 3 MINI-EXAM
(in class) Past
Year's Mini Exam
Feb. 8 Readings: Ch. 6, pp. 375-6, & Ch 7 (excluding sect. 7.2 and the Appendix, but
including Case Study: Money and Inflation)
SR: Seigniorage Revenue and Inflation
Feb. 9 Problem
Set # 2
OR: P. Krugman, "Stable Prices and Fast Growth: Just Say No"
OR: W. Angell, "The Fed Must Fight Inflation, Not Growth"
OR: "Shoot to Kill"
OR: "A Shocking Error"
Feb. 15 Readings:
Chs 9 (excluding sect. 9.2) & 10 (excluding pp. 258-69, but
Case Study : Kennedy, Keynes, and the 1964 Tax Cut)
SR: The IS Curve and Goods Market Equilibrium in the Short Run
Feb. 16 Problem
OR: "Messing with Money"
Feb. 22 Readings:
SR: "Monetary and Fiscal Policies and the Short-Run Equilibrium of IS-LM"
Feb. 23 Problem
SR: "Automatic Stabilizers: How They Work"
OR: "A Refresher on the 1930s"
OR: "Fiscal Flexibility"
Mar. 1 Problem
Sessions Meet for Review (optional)
Mar. 1 FIRST EXAM, 7:30 PM Past Year's First Exam
Mar. 2 Readings: Ch 16 (don't worry about indifference curves)
SR: Consumption Theories
Mar. 8 Problem
Readings: OR: "Schools Brief "Finance: Trick or Treat"
Mar. 9 Readings:
Chs. 8 & 12 (excluding the Appendices and Section 12.6)
SR: Goods Market Equilibrium in the Mundell-Fleming Model
Mar 22 Problem
OR: "Big MacCurrencies"
OR: "Man of the Hour"
OR: "Figures to Fret About"
Mar 23 OR: "School Briefs: A Much Devalued Theory"
OR: "Going with the Flow"
OR: "Getting Out of a Fix"
Mar. 28 Readngs:
Chs 13 & 14 (excluding the Appendix) & sect. 19.2
OR: R. Barro, "A Rational Choice"
Mar 29 No problem sessions
Mar 30 Readings:SR: The Time Inconsistency Problem
OR: "Schools Brief: A Cruise around the Phillips Curve"
OR: "Is Inflation Tamed"
OR: R. Barro "A Matter of Demeanor"
OR: "Born Free"
OR: "On Target"
SR: An Inflation Target for South Africa?
Apr. 5 Problem
Sessions Meet for Review (optional)
Apr. 5 SECOND EXAM, 7:30 PM, Past Year's Second Exam
Apr. 6 Readings:
Chs 15 & sect. 17.1
SR: Theories of Debt Burden
OR: "School Brief: The Burdensome National Debt"
OR: "Another Paradigm Shift"
Apr. 12 No
Apr. 13 Readings: Ch. 18 (excluding sect. 18.2)
SR: The Term Structure of Interest Rates"
SR: The Fed's Operating Procedures and the Slope of the LM Curve
SR: The Slope of the LM Curve and Automatic Stabilization
Quiz # 7
Apr. 19 Problem
Set # 7
OR: M. Friedman, " End the Fed's Fine Tuning"
OR: "Schools Brief: Monopoly Power over Money"
Apr. 20 Readings:
Chs 4&5 (including Appendix) & sect. 19.1
SR: Growth in Two Economies
SR: A Beginner's Guide to Growth Accounting
Apr. 26 No
May 3 Problem Set #8
OR: "How Does Your Economy Grow"
May 4 Readings: Mankiw, "Epilogue"
May 12-16 Three
Hour, Comprehensive Exam, scheduled by the Registrar
Past Year's Final Exam