Welcome to Intermediate Macro! Posted below are the course outline and various supplemental materials. New items will be posted throughout the quarter. Best check before each class.
Announcements/New Items (Updated Dec.15)
• Grades for Fall 2007 have been reported to the registrar.
• Earlier editions of Abel-Bernanke: Several students asked, so let me clarify. All exams and assignments are based on the 6th edition. The 5th edition is similar, but there are differences every few pages. So if you are using an earlier edition, you will get most of the material, but you should at least borrow a 6th edition and check what's new. (Your responsbility, not mine or the TAs.) In other words, an old edition saves money but takes time.
General Information
Prerequisites: Econ 100a or equivalent preparation in microeconomics, no exceptions.
Recommendation: Review what you learned in Introductory Macroeconomics.
My office hours: Tuesdays & Thursdays 1-2pm.
E-mail: bohn@econ.ucsb.edu. Always put "Econ 101" in the subject line.
TA contacts:
Monday sections - In-Sook Cho icho@econ.ucsb.edu
Tuesday sections - Ross Mohr mohr@econ.ucsb.edu
Wednesday sections - Reynaldo Vazquez vazquez@econ.ucsb.edu
Friday sections - Elizabeth Ashley ashley@econ.ucsb.edu
Textbook: Abel-Bernanke-Croushore, Macroeconomics, 6th edition, Addison-Wesley.
(Abbreviated "ABC" below) You will not need access to the book's website.
Course Requirements:
Your grade is based on the exams (each midterm 16%, final 44%), plus the assignments described below (24% total).
Exam Dates: Midterm #1: Oct. 23.
Midterm #2: Nov. 15.
Final: As scheduled by the registar (Dec.12, 8-11am).
News and market data:
You are expected to keep up with current macroeconomic news.
The best source for financial and economic information is the Wall Street Journal, print or online. Another good source is bloomberg.com.
Most of the WSJ online edition is unfortunately subscription-based, but the Markets Data Center is currently free. Also, I understand you can access the full WSJ content through the UCSB Library. (But I don't keep up with how this works; best ask the Library.)
Technical Notes:
This web page is intended for UCSB students enrolled in Econ 101.
I may update this page and some of the readings during the quarter; please check periodically.
If you run into technical problems or errors, I would appreciate a note to:
bohn@econ.ucsb.edu. Some links may only be accessible from a UCSB server.
All lecture notes and slides are copyrighted [(C) Henning Bohn 2007].
Assignments
• Summary and instructions for News Analysis.
News Analysis Essay: start collecting materials right away.
E-mail copy to TA was due December 5; hardcopy was due in the next class (Dec.6).
• Note on Academic Integrity. Applies to all assignments.
• Data Collection Exercise #1: [was due Oct. 4]
• Data Collection Exercise #2: [was due Nov.8]
• Problem Set #1: [was due Oct. 11]
• Problem Set #2: [was due Oct.18]
• Problem Set #3: [was due Nov.1]
• Problem Set #4: [was due Nov.29]
• Information about Exams.
Course Outline and Readings
Course Description Handout.
ABC ch. 1.
[ABC = Abel-Bernanke-Croushore, Macroeconomics]
Class notes: slides01.
I. Production and the Labor Market
(2) Measurement: GDP, Savings, and Inflation
(3) Production Function and Labor Demand
ABC ch. 3.1-3.2.
Class notes: slides03.(4) Labor Market and Unemployment
ABC ch. 3.3-3.6.
II. Savings, Investment, and Economic Growth
(5) Consumption and Savings: Basics of Financial Planning
ABC ch. 4.1 and ch. 4-appendix.
Class notes: slides05.(6) Capital Investment and Goods Market Equilibrium
ABC ch. 4.2-4.3.
Class notes: slides06.(7) Economic Growth: Accounting and Theory
ABC ch. 6, pp. 212-229.
Recommended: Appendix A.7 (pp.614-615)
Class notes: slides07.(8) Midterm #1.
Topics: Chapters 1-4 and lectures/assignments to ch. 4.
See Information about Exams for exam rules.
(9) Economic Growth: Solow Model and Applications
ABC ch. 6, pp. 229-246
III. Economic Fluctuations and Money
(10) More on Growth. Introduction to Money and Financial Assets
ABC ch. 7.1-7.3
Class notes: slides10.(11) Money, Financial Assets, and Inflation
ABC ch. 7.4-7.5
(12) Business Cycle Facts and Concepts
ABC ch. 8.1-8.3
Class notes: slides12.
(13) More on Business Cycles [Nov.8]
Recommended: ABC ch.8.4
(14) Framework for Macroeconomic Analysis
ABC ch. 9.1-9.5, appendix 9.A (steps 1-4 only)
Class notes: slides14.
(15) Midterm #2
Topics: Chapters 6-8 and corresponding lectures/assignments.
Not cumulative. Timed for 45min.
See Information about Exams for exam rules.
(16) More on ISLM. Current Issues in Monetary Policy
Current issues: see Economic Forecast Presentation for slides (updated in class).
(17) Output and Interest Rates: Applications [Nov.27]
Examples from ABC ch.9.4-9.5.
Optional: ABC ch.9.6, appendix 9.B
IV. International Macroeconomics
(18) International Trade and Capital Flows
ABC ch. 5.1-5.3.
Optional: ABC ch. 13.1-13.2.
Class notes: slides18.
(19) Savings and Investment in the World Economy
ABC ch. 5.4.
Optional: Bernanke speech; ABC ch.5.5.
(20) Wrap-up and Review
Final Exam
Time slot scheduled by the registar (Dec.12, 8-11am). See under Announcements for details. Bring a scantron card.
Please send comments and questions to bohn@econ.ucsb.edu