ECON 313: Intermediate Macroeconomics, Fall 2019, Summer 2020, 2021, Spring 2022 [syllabus]
In this course, we focus on building abilities to understand macroeconomic cycles and anticipate possible policy actions and their impacts. As part of this broad goal, we develop understanding of several key macroeconomic models (such as IS-LM model, Aggregate Demand and Supply analysis and Solow Growth model). These support students’ understanding of outcomes for key macroeconomic variables (such as GDP output/income, unemployment, inflation, interest rates, exchange rates and trade volume). In addition, we address key macroeconomic policy actions, and look at implications of these various policy actions, in the short run and longer run. Students gain better understanding of how macroeconomic outcomes relate to their lives. After completion of this course, students are able to: (1) Think critically in utilizing an economic framework to explain the behavior of the world economy; (2) Utilize macroeconomic models such as IS-LM, Aggregate Supply and Demand, and the Solow Growth model. Within these frameworks, we focus on both short and long run behaviors; (3) Read and interpret macroeconomic indicators such as output, inflation, unemployment, interest rates, exchange rates, and trade volume; (4) Demonstrate an understanding of the implications of various fiscal and monetary policies and its effects on the broader economy.