-Practice problems selected from pg 90-92, Blue Jeans Activity - Buying & Selling Turquoise Simulation pg 39 IRM Ch 3: 1,2 Ch 4: 3a,b; 8a
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1 MACR Syllabus Day/ Time Day 1 Day 1 Day 1 Day 2 Day 2 Day 2 Day 3 Day 3 Day 3 Topic -Introductions, Honor Code, Class Rules/Expectations -Pre-assessment Math Review (If needed - Chapter 2 Appendix) What is Econ? -Introduction/Overview of Macroeconomics (Chapter 1, 6) Activities -Practice problems selected from pg 20-22, Ch 1: 1d,i; 5 a,c; 7; 12 Ch 2 appx 1, 9 -Supply & Demand Review & Practice -Complements & Substitutes - normal/inferior goods - shortage/surplus -Price Ceilings/Price Floors -Practice the S&D Shifters (Chapters 3, 4) Week 1 -Get to know you -Pre-assessment - Did You Know 3 - video - Opportunity cost activity -Practice problems selected from pg 90-92, Blue Jeans Activity - Buying & Selling Turquoise Simulation pg 39 IRM Ch 3: 1,2 Ch 4: 3a,b; 8a Economic Models Positive and Normative analysis -Production possibility frontier (Chapter 2) -Trade-offs, Trade -Comparative and absolute advantage -Circular-flow (Chapter 2) -Lecture: What is Macroeconomics?, Key Principles -Rice Fields, Oreos Activity ppt review day1 - Supply and Demand Car Wash - Global Comparison (GC) - Pay More, Pump Less - pg 99 rent control article - Supply and Demand Markets Interact - Supply & Demand Activity - Markets never stand still 1-4 -Discuss Sugar Quota Problem - - S&D Activity, Markets never stand still Tortoise and the Hare - Production possibility frontier pg 20 IRM - Dandy Dollar Activity - Circular Flow Chart activity -Practice problems selected from pg Economics in Action (EIA) Rich Nation, Poor Nation pg36 pg 19 IRM
2 Day 4 Day 4 Day 4 Day 5 Day 5 Day 5/sun International Trade -Comparative v. absolute advantage -Sources of Comparative Advantage -S&D autarky v. trade International Trade -World price, -Tariffs, -Quotas Globalization and the WTO - Multinationals (Chapter 5) - Concept Check - Trading bags activity free trade Article discussions Multinationals Sweatshop Earth? - What s to like about outsourcing? The influence of International Labor Markets -Practice problems selected from pg For Inquiring Minds (FIM) Increasing Returns and International Trade 3a,b,c,d; 12 Tracking the Macroeconomy -Expanded circular-flow with Foreign Markets -GDP calculations (including net exports) real and nominal -, GDP Deflator, and inflation rate calculations if students are unfamiliar (Chapter 7) -Unemployment: introduction and calculation types, causes, natural rate (Chapter 8) Ch 7: 6; 8a,b,c,d, (to 1980) - Concept Check - Cars and Computers activity and - Barriers to International Trade Handout - GDP calculation practice - What s In, What s Out pg 85 IRM - Stiglitz GDP article - - Anderson GDP article Summary and reflection writing exercise
3 Day 6 Day 6 Day 6 Day 7 Day 7 Day 7 Unemployment: types, causes, natural rate (Chapter 8) CPI, PPI -Inflation & Interest Rates: shoe-leather costs, menu costs, nominal and real interest rates Long-Run Economic Growth -Productivity -Real GDP/capita -Growth rates -Rule of 70 (or 72) -Factors of L-R growth -Economic growth and sustainability Week 2 what affects GDP handout Bhutan Gross Domestic Happiness Index part of video. - CPI Candy Price Index The Many Development benefits of educating girls: Pakistan article (Chapter 9) -Practice problems selected from pg : Ch 8: 6, 8 + ch9 -Hand out the Country Analysis Project and have students get into their groups to pick their country and begin planning for their project. Groups of 3 or 4 each pick a country and collect and track important macro data on that economy. Students will present data and make a L-R economic growth prediction based on indicators and factors of L-R growth. Savings, Investment Spending, and the Financial System -Loanable funds market S&D -Role of financial intermediaries (Chapter 10) Income & Expenditure -Marginal propensity to consume/save -The multiplier -Aggregate consumption function -Inventories, Investment spending (planned & unplanned), (Chapter 11) : - name that unemployment -Who is hurt and who is helped by unanticipated inflation - EIA Group Case Studies pg IRM -EIA Banks & the South Korean Miracle pg 121 IRM - Saving and Investing w Financial Intermediaries activity -Practice problems selected from pg , Multiplier practice problems from pg CH10: 4a,b, 8, 11, Ch11 7 Computer lab-group Country Analysis Project: basic key indicators (GDP, unemployment rate, inflation rate, exchange rate, consumption/savings rate, trade balances and major trading partners, political situation)
4 Day 8 Aggregate Demand & Aggregate Supply -The curves (AD, SRAS, LRAS) -Wealth and interest rate effects (Chapter 12) : -Spending Round by Round pg 134 IRM -GC America s Low Savings pg 261 -EIA The Multiplier and the Great Depression - Interest Rates and the US Housing Boom pg 133 IRM -Expenditure multiplier Example with taxes Day 8 -AD/AS model continued -Shifts and shifters (shocks) -Stabilization policy introduction (Chapter 12) - Macroeconomic Equilibrium Activity Day 8 -Practice problems selected from pg , 12 -Group Country Analysis Project: infrastructure and technology Day 9 Day 9 Fiscal Policy -Expansionary/contractionary fiscal policy -Tax multiplier -Taxes vs. transfers vs. government spending - Automatic Stabilizers (Chapter 13 & Appendix) -Balancing the Federal budget -Government debt and interest payments (Chapter 13) pg 333 Prices and Output during the Great Depression pg341 Supply shocks vs Demand Shocks in Practice Memo from the Chairman of the Federal Reserve bank activity - What is a fair tax? activity -What s the best fiscal policy? Discussion/Debate -EIA Expansionary Fiscal Policy in Action in Japan pg 162 IRM --EIA About that Stimulus Package pg 162 IRM - Unemployment and Budget activity - The uneducated American by Krugman - article - To Balance or Not to Balance? Activity pg 166 IRM Day 9 -Practice problems selected from pg ch13: 3,6,15 - Computer lab-group Country Analysis Project: basic key indicators (GDP, unemployment rate, inflation rate, exchange rate, consumption/savings rate, trade balances and major trading partners, political situation)
5 Day 10 Day 10 Money, Banking, and the Federal Reserve -Money and its roles -Banks and T-accounts -Reserve Ratio -Determining the money supply -The money multiplier (Chapter 14) -Central banks The Fed -Open-market operations -Water world - Dolphin Money article - Money Creation Experiment - It s a wonderful life econ in the movies - Wizard of Oz article Day 10/su Ch 14 2, 4, 6 Summary and reflection writing exercise
6 Day 11 Day 11 Day 11 Day 12 -The financial crisis of 2008 (Chapter 14) Monetary Policy -Demand for money curve -Shifts & shifters -Money supply curve -Shifts (Chapter 15) -Interest rates -Expansionary/contractionary monetary policy -Money S&D/PAE/AD/AS chain reaction -Inflation/interest rate targets Week 3 - Federal Funds Market experiment - EIA A Yen for Cash pg 188 IRM -EIA The Fed Reserves Course pg 188 IRM - Memo from the chairman activity -Monetary Policy Group Exercise (Chapter 15) -Practice problems selected from pg , , Practice problems selected from pg Ch15:2,5,6 - Computer lab-group Country Project: basic key indicators (GDP, unemployment rate, inflation rate, exchange rate, consumption/savings rate, trade balances and major trading partners, political situation, central bank) Current crisis and the Great Depression comparison. Veil of Ignorance Activity Open-Economy Macroeconomics -Capital flows and balance of payments Chapter 18 Day 12 Day 12 - Group Country Analysis Project -EIA Low-Cost America pg 218 IRM -EIA China Pegs the Yuan pg 218 IRM Problems for balance of payments: Ch 18 1,3 - -Group Country Analysis Project: finish up presentations
7 Day 13 -Exchange rates app/depreciation -The foreign exchange market S&D -Purchasing power of parity Capital inflows/capital outflows Pegging (Chapter 18) Day 13 Day 13 Day 14 -Group Country Analysis Project Finish up Group Country Analysis Project -Practice problems selected from pg : 18: 6,8,9,10 -Group Country Analysis Project: -Group Country Analysis Presentations -Group Country Analysis Presentations - Leverage presentation - activity Day 14 Day 14 Day 15 Review Jeopardy Post-test -Final thoughts - goodbyes Human Development Index Economic Freedom Index Immigration articles
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