ECO 3203 (Spring 2007)

AGGREGATE ECONOMIC CONDITIONS

The Course Outline (pdf format).

The Course Outline (html format).

TA Hours and Location

LECTURE NOTES and ARTICLES

The lecture notes are not substitutes for the textbook, they are a complement to the textbook.

• Chapter 1 - Handouts in pdf format.
• Measuring Unemployment.
• Ricardian Equivalence.
• The composition of the Index of Leading Indicator.
• Chapter 2 - Handouts in pdf format. Computing GDP.
• Chapter 3 - Handouts in pdf format. Business Cycle Regularities.
• Chapter 4 - Handouts in pdf format. Robinson Crusoe consumption-leisure decision.
• Richard Gause Library Resources Presentation.
• Chapter 5 - Handouts in pdf format. Government in General Equilibrium.
• Chapter 8 - Handouts in pdf format. Consumption demand and the permanent income hypothesis.
• Chapter 9 - Handouts in pdf format. Market clearing model.
• Chapter 12 - Handouts in pdf format. Non market clearing model.
• Chapter 6 - Handouts in pdf format - Part 1: Economic growth facts and Malthus economic growth model.
• Chapter 6 - Handouts in pdf format - Part 2: Solow economic growth model and growth accounting.
   

EXAMS

• The Final Exam will be held on April 30, 2007 at 1:00 p.m.
  • The exam will cover Chapters: 4, 5, 8, 9 and 12.
  • Prepare by reading the book, the class notes, solving the assignment problems and answering the questions in the Study Guide.
  • DO NOT FORGET to bring a BROWN scantron sheet.
  • DO NOT FORGET to bring a Calculator.
• QUIZ III will be held on April 11, 2007.
  • The QUIZ will cover Chapters: 8 and 9.
  • Prepare by reading the book, the class notes, solving the assignment problems and answering the questions in the Study Guide.
  • DO NOT FORGET to bring a BROWN scantron sheet.
  • DO NOT FORGET to bring a Calculator.
• QUIZ II will be held on March 7, 2007.
  • The QUIZ will cover Chapters: 4 and 5.
  • Prepare by reading the book, the class notes, solving the assignment problems and answering the questions in the Study Guide.
  • DO NOT FORGET to bring a BROWN scantron sheet.
  • DO NOT FORGET to bring a Calculator.
• QUIZ I will be held on January 31, 2007.
  • The QUIZ will cover Chapters: 1, 2 and 3.
  • Prepare by reading the book, the class notes, solving the assignment problems and answering the questions in the Study Guide.
  • DO NOT FORGET to bring a BROWN scantron sheet.
  • DO NOT FORGET to bring a Calculator.

Class Discussions

• U.S. National Debt Clock.
• Index of Leading Indicators at The Conference Board.
• The composition of the Index
  • U.S. Composite Indexes:
    Components and Standardization Factors
    Leading Index Factor
    1 Average weekly hours, manufacturing 0.2542
    2 Average weekly initial claims for unemployment insurance 0.0333
    3 Manufacturers' new orders, consumer goods and materials 0.0753
    4 Vendor performance, slower deliveries diffusion index 0.0698
    5 Manufacturers' new orders, non-defense capital goods 0.0186
    6 Building permits, new private housing units 0.0266
    7 Stock prices, 500 common stocks 0.0377
    8 Money supply, M2 0.3535
    9 Interest rate spread, 10-year Treasury bonds less federal funds 0.1019
    10 Index of consumer expectations 0.0291
    
    Coincident Index:
    1 Employees on nonagricultural payrolls 0.5293
    2 Personal income less transfer payments 0.2077
    3 Industrial production 0.1469
    4 Manufacturing and trade sales 0.1161
    
    Lagging Index:
    1 Average duration of unemployment 0.0373
    2 Inventories to sales ratio, manufacturing and trade 0.1221
    3 Labor cost per unit of output, manufacturing 0.0623
    4 Average prime rate 0.2777
    5 Commercial and industrial loans 0.1137
    6 Consumer installment credit to personal income ratio 0.1931
    7 Consumer price index for services 0.1937
• The Hodrick-Prescott Filter Excel Add-in - To de-trend Macroeconomic variables.
• Basic Statistics - How to measure the correlation coefficient - useful to determine the cyclicality of the variable.

ASSIGNMENTS

• DO ALL the Questions for Review and the Problems at the end of each Chapter.
• The Questions for Review:
  • Williamson, Version 2
    • Chapter 1,   Questions 1 to 22, page 34.
    • Chapter 2,   Questions 1 to 15, pages 59-60.
    • Chapter 3,   Questions 1 to 13, pages 85-86.
    • Chapter 4,   Questions 1 to 13, page 129.
    • Chapter 5,   Questions 1 to 14, pages 161-162.
    • Chapter 8,   Questions 1 to 23, pages 288-289.
    • Chapter 9,   Questions 1 to 17, page 342.
    • Chapter 12, Questions 1 to 16, page 460.
  • Williamson, Version 1
    • Chapter 1,   Questions 1 to 22, pages 35-36.
    • Chapter 2,   Questions 1 to 15, page 61.
    • Chapter 3,   Questions 1 to 13, page 85.
    • Chapter 4,   Questions 1 to 13, page 128.
    • Chapter 5,   Questions 1 to 14, page 160.
    • Chapter 6,   Questions 1 to 21, pages 210-211.
    • Chapter 7,   Questions 1 to 16, pages 261-262.
    • Chapter 10, Questions 1 to 16, page 408.

MISCELLANEOUS

• Download the Study Guide. 
• How the Government Measures Unemployment.
• How the Fed sets Interest Rates.
• Macroeconomics Resources for Students.
• NATIONAL ACCOUNTS A Guide to the NIPA's By Eugene P. Seskin and Robert P. Parker (Important for Definitions)
• The Consumer Price Index - General Coverage.
• The Consumer Price Index--Why the Published Averages Don't Always Match An Individual's Inflation Experience. The Bureau of Labor Statistics.
• The United States Economy at a Glance.
• Go to the book Web page
• Teach yourself basic Macroeconomics. 

Conversion Table for the GRADES

The following letter grade system will be used,

Since January 2007, this page was visited

Last Updated Monday, February 23, 2009 01:56:38 PM