Economy Chapter 11

Topics: Economics, Macroeconomics, Unemployment Pages: 3 (533 words) Published: August 12, 2013

Professor Roger Frantz. Office: Adams Humanities Room 4196; Phone: 594-3718; Hours: MWF 11:00 – 11:45am, and 12:30 – 1:15pm. e-mail:; Home Page:  

I. Student Learning Outcomes.
1. Differentiate rational (economic) behavior from non-rational behavior. 2. Define various measures of macro economic output and income 3. Demonstrate how GDP is determined.
4. Elaborate on how government can affect GDP and other macro measures of economic activity. 5. Identify “turning points” in a business cycle and be able to predict the turning points.

II. Readings.
Required Text. Robin Bade and Michael Parkin. Foundations of Macroeconomics. (Pearson, Addison/Wesley).

[Readings in “ ” can be found on the class BB site under “Non-Text Readings.]

Part 1. Introduction.
Chapter 1. Getting Started (including appendix).
Chapter 2. The U.S. and Global Economies.
Chapter 3. The Economic Problem. “Technology Can Put a Bite Into Global Warming.” Chapter 4. Demand and Supply.
Chapter 18. Demand and Supply in International Trade, Pp. 454 to end of chapter. Chapter 19. Demand and Supply in International Finance, Pp. 481 to end of chapter.

Part 2 Monitoring the Macroeconomy
Chapter 5. GDP. A Measure of Total Production and Income.
“Measuring a Recession With Google.”
Chapter 6. Jobs and Unemployment.
"Minimum Wages: Winners and Losers.”
Chapter 7. The CPI and the Cost of Living

Part 3. The Real Economy
Chapter 8. Potential GDP and the Natural Rate of Unemployment Chapter 9. Economic Growth.
“Chinese Economic Growth.”
“California Cap and Trade.”

Part 4 The Money Economy
Chapter 11. The Monetary System.
“Cocaine on U.S. Dollar Bills.”
Chapter 12. Money, Interest, and Inflation.
Part 5 Economic Fluctuations
Chapter 13. AS-AD and the Business Cycle....
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