Instructor: Elizabeth C. Bogan
Description of Course Goals and CurriculumThe theory of the determination of the level of national income and economic activity, including an examination of the financial system. Emphasis on economic growth and such economic problems as inflation, unemployment and recession, and on appropriate policy responses. The course also covers quite extensively the causes of the Great Recession and Financial Crisis 0f 2008-09 and the U.S. Banking System. Some attention is also paid to international issues, mainly focusing on countries such as Japan, China, India and regions such as Africa and Europe.
Learning From Classroom InstructionProfessor's Bogan lectures are very detailed and offer more real-life examples of the macroeconomic theories and framework rather than going too deep into the frameworks themselves. The pace of the lectures can be fast and some slides might be skipped, so be sure to pay close attention to the lecture and review lectures before working on assignments. Precepts cover models and example problems and articles from The Economist - should go to precepts to know how the solve the problems in the problem set.
Learning For and From AssignmentsProblem sets focus on concepts and theories covered in that's week lectures and are very similar to the midterm and final in terms of types of questions. For assignments, only a basis understanding of algebra is necessary. Students should review lecture slides and precept handouts/example problems before starting to save time (and avoid unnecessary confusion). For the multiple choice problems, drawing graphs can be useful especially if the problems concern supply/demand of goods or of money. Readings can seem rather long and dry at first, but they are directly related to the concepts covered in class and will be tested on the midterm and final, so do not leave them until the very end. While it is entirely possible to work on the problem sets individually, students should go to office hours or collaborate with other students (if allowed) to get a different approach to a problem.
External ResourcesInvestopedia or Khan Academy have videos/articles about basic economics concepts, which are very useful as a refresher/introduction to basic economics. NYTimes or The Economist articles can be interesting, but not crucial to excelling in the class.
What Students Should Know About This Course For Purposes Of Course SelectionRequired course for students wishing to concentrate in Economics unless they are allowed to skip this. Otherwise, this class is great for students who wish to get a basic understanding of how the economy works - you will think about savings and pensions differently, for example.
Introduction to Macroeconomics