Macroeconomics

SYLLABUS

EC103 Macroeconomics Syllabus Lyons 2022

TEXTBOOK


By Michael Parkin

14th Edition ... the 13th Edition is OK also

Available at the Bookstore and Amazon.com 


The textbook is Recommended, but not Required.  

Most students will benefit significantly from reading the textbook. 

*** Additional reading will be assigned during the semester *** 

ZOOM

https://loyola.zoom.us/my/thomaslyons

... this is the link if we need to have a zoom meeting...  the password is on moodle.

CLASSROOM TECHNOLOGY 

 

Students may not use computers, tablets, phones, earphones during class.  

If you would like to use a computer or tablet for the purpose of taking notes you must get written permission from the professor.  

STA 

The A to Z of Economics Explained 

LECTURES, READINGS and RESOURCES

Introduction

HOW TO PREPARE

READ: the Class Syllabus 

CLASS LECTURE 

Macroeconomics 0 - Opening Lecture

Economic Output

HOW TO PREPARE

READ Parkin Chapter 4: "Monitoring the Value of Production: Gross Domestic Product (GDP)" (recommended)

CLASS LECTURE 

Macroeconomics 1 - Gross Domestic Product and Growth

ASSIGNMENTS 

The homework assignments below are to be completed and turned in.  The due dates will be announced in class.


GDP Assignment #1c

Macroeconomics GDP Homework #1c

GDP Assignment #1d

GDP Assignment #1d

GDP Assignment #1E

GDP Homework Assignment 1E

Employment 

HOW TO PREPARE

READ Parkin Chapter 5: "Monitoring Jobs and Inflation" (recommended)

CLASS LECTURE 

Macroeconomics 2 - Jobs and Unemployment

ASSIGNMENTS 

The homework assignments below are to be completed and turned in.  The due dates will be announced in class.


Unemployment Assignment #2a

Macroeconomics - Jobs and Employment Homework/Quiz #1

Unemployment Assignment #2b

Macroeconomics - Jobs and Employment Homework/Quiz #2

Prices and Inflation

HOW TO PREPARE

READ Parkin Chapter 5: "Monitoring Jobs and Inflation" (recommended)

READ  "U.S. Inflation: How Much Have Prices Increased?",  Visual Capitalist, 12/30/22

CLASS LECTURE 

Macroeconomics 3 - Price Indexes and Inflation

ASSIGNMENTS 

The homework assignments below are to be completed and turned in.  The due dates will be announced in class.


Price Index Homework #3c

Macroeconomics - Price Indexes and Inflation Homework/Quiz #1

Price Index Homework #3d

Macroeconomics - Price Indexes and Inflation Homework/Quiz #2

TEST 1 

Economic Aggregates: GDP, Unemployment, Price Indexes

Section 4, 7: Wednesday February 15, 2023

Section 03G, 14: Thursday February 16, 2023


Economic Growth

HOW TO PREPARE

READ Parkin Chapter 6: "Economic Growth" (recommended)

CLASS LECTURE 

Macroeconomics 4 - Economic Growth

Keynes General Theory


John Maynard Keynes  (1883-1946) was an English economist.  

His 1936 book The General Theory of Employment, Interest and Money,  written during the Great Depression, is the basis for modern Macroeconomic theory.  

CLASS LECTURE 

Macroeconomics - The Keynesian System

Multipliers  

HOW TO PREPARE

READ Parkin Chapter 11: "Expenditure Multipliers" (recommended)

CLASS LECTURE 

Macroeconomics 7 - Expenditure Multipliers

The AS-AD Model 

HOW TO PREPARE

READ Parkin Chapter 10: "Aggregate Supply and Demand" (recommended)

CLASS LECTURE 

Macroeconomics 6x - Aggregate Supply and Demand

Fiscal Policy  

HOW TO PREPARE

READ Parkin Chapter 13: "Fiscal Policy" (recommended)

EXPLORE: The United States Debt Clock , usdebtclock.org

CLASS LECTURES 

Macroeconomics 8 - Fiscal Policy
Macroeconomics 8 - Fiscal Policy 2 - Economic Stimulus

TEST 2 

Economic Aggregates, Keynes, AD/AS, Economic Growth, Fiscal Policy

Section 4, 7: Monday March 27, 2023

Section 03G, 14: Tuesday March 28, 2023

Money  

HOW TO PREPARE

READ Parkin Chapter 7: "Finance, Saving, and Investment" (recommended)

READ Parkin Chapter 8: "Money, the Price Level, and Inflation" (recommended)

Carl Menger (1840-1921) was an Austrian economist and a founder of the Austrian School of Economics.  He made significant contributions to the theories of subjective value and marginal utility.     

His evolutionary theory of money was outlined in his book Principles of Economics (1871).

CLASS LECTURE 

Macroeconomics 9 - Money

Banking

HOW TO PREPARE

READ Parkin Chapter 8: "Money, the Price Level, and Inflation" (recommended)


CLASS LECTURE 

Macroeconomics 10 - Banking

Monetary Policy 

CLASS LECTURE 

Macroeconomics 12 - Monetary Policy

Business Cycle Theory  

HOW TO PREPARE

READ Parkin Chapter 12: "The Business Cycle, Inflation, and Deflation" (recommended)

CLASS LECTURE 

Macroeconomics 13 - Inflation and Business Cycles

TEST 3

MONEY, BANKING, MONETARY POLICY, INFLATION/BUSINESS CYCLES

Section 03G, 14: Thursday April 20, 2023

Section 4, 7: Friday April 21, 2023


International Trade  

HOW TO PREPARE

READ Parkin Chapter 15 : "International Trade Policy" (recommended)

WATCH: Benefits of International Trade, PolicyEd.org

Some predicted that an increase in tariffs would create shortages and significant inflation in the US economy.

CLASS LECTURE 

Macroeconomics 14 - International Trade

Exchange Rates  

HOW TO PREPARE

READ Parkin Chapter 9: "The Exchange Rate and the Balance of Payments" (recommended)

If one country keeps the exchange rate for its currency low, it will make it's products cheaper to people in other countries, which will increase the demand for its exports.

CLASS LECTURE 

Macroeconomics - Exchange Rates and Balance of Payments

Summary   

CLASS LECTURE 

Macroeconomics 18 - Summary Lecture

ADDITIONAL RESOURCES 

Summary of Macroeconomics

FINAL EXAM 

Section 04 - Friday May 5, 2023 at 9AM - Sellinger Hall room 440

Section 14 - Saturday May 6, 2023 at 1pm - Sellinger Hall room 221

Section 07 - Monday May 8, 2023 at 9AM - Sellinger Hall room 440

Section 03G - Tuesday May 9, 2023 @ 1pm - Hopkins Court room 222