Webster University - Syllabus

/ Shanghai University of Finance
and Economics
Course Syllabus
Course / Course No: BUSN 5620
Course Title : Current Economic Analysis
Term / Summer Semester 2014
Day of Week: Saturday
Instructor / Name:
Phone:
Email: / Qu Weidong
13122113238

Catalog Description / Studying macroeconomics is extremely challenging but also very regarding. Macroeconomics can be difficult for many students, but even those who initially struggle with the material get excited when they finally begin to comprehend important economic issues that they hear about in the news.
Macroeconomics is the study of the behavior of the economy as a whole. The economy is disaggregated into what are believed to be broadly homogeneous categories and the determinants of the behavior of each of these aggregates are integrated to provide a model of the whole economy.
Prerequisites / Macroeconomics increasingly relies on logical argumentation or deductions about the determinants of the behavior of each aggregate variable. Therefore a good mix of verbal reasoning, graphical displays, and mathematical analysis is very important during the study of the course.
Course Level Learning Outcomes / Essentially macroeconomics dates from great economist, M.Keynes, and the principal aggregates studied are those suggested by him in 1930s after the great depression in many market economies. Up to now, macroeconomics forms an important basis for government economic policies. And also, it becomes an important guide for the public to understanding macroeconomic state of affairs, performances, and events.
The release of macroeconomic data, such as the CPI, the PPI, the unemployment rate, money supply figures, quarterly GDP figures, or a change in the prime rate or discount rate always provides a good opportunity to understand and discuss current macroeconomic situations.
Materials / Required Textbook
<Macroeconomics >
By Rudiger Dornbush Stanley Fisher Richard Startz
( Eleventh Edition )
Grading / The GRADUATE catalog provides these guidelines and grading options:
·  A/A– Superior graduate work
·  B+/B/B– Satisfactory graduate work
·  C Work that is barely adequate as graduate-level performance
·  CR Work that is performed as satisfactory graduate work (B– or better). A grade of "CR” is reserved for courses designated by a department, involving internships, a thesis, practicum, or specified courses.
·  F Work that is unsatisfactory
·  I Incomplete work
·  ZF An incomplete which was not completed within one year of the end of the course. ZF is treated the same as an F or NC for all cases involving G.P.A., academic warning, probation, and dismissal.
·  IP In progress
·  NR Not reported
·  W Withdrawn from the course
Letter Grade / Numerical Score
A / 95-100% (4.0)
A- / 90-94% (3.67)
B+ / 85-89% (3.33)
B / 80-84% (3.0)
B- / 75-79% (2.67)
C / 60-74% (2.0)
F / 59 & below (0)
Policy Statements: University Policies / University policies are provided in the current course catalog and course schedules. They are also available on the university website. This class is governed by the university’s published policies. The following policies are of particular interest:

Academic Honesty

The university is committed to high standards of academic honesty. Students will be held responsible for violations of these standards. Please refer to the university’s academic honesty policies for a definition of academic dishonesty and potential disciplinary actions associated with it.

Drops and Withdrawals

Please be aware that, should you choose to drop or withdraw from this course, the date on which you notify the university of your decision will determine the amount of tuition refund you receive. Please refer to the university policies on drops and withdrawals (published elsewhere) to find out what the deadlines are for dropping a course with a full refund and for withdrawing from a course with a partial refund.

Special Services

If you have registered as a student with a documented disability and are entitled to classroom or testing accommodations, please inform the instructor at the beginning of the course of the accommodations you will require in this class so that these can be provided.

Disturbances

Since every student is entitled to full participation in class without interruption, disruption of class by inconsiderate behavior is not acceptable. Students are expected to treat the instructor and other students with dignity and respect, especially in cases where a diversity of opinion arises. Students who engage in disruptive behavior are subject to disciplinary action, including removal from the course.

Student Assignments Retained

From time to time, student assignments or projects will be retained by The Department for the purpose of academic assessment. In every case, should the assignment or project be shared outside the academic Department, the student's name and all identifying information about that student will be redacted from the assignment or project.

Contact Hours for this Course

It is essential that all classes meet for the full instructional time as scheduled. A class cannot be shortened in length. If a class session is cancelled for any reason, it must be rescheduled.

Weekly Schedule /

Week 1

Introduction

u  Macroeconomics:

u  Some Key Concepts

u  Relationships among Macroeconomic Variables

u  Macroeconomic Theory System

u  Macroeconomic Policy

Week 2

National Income Accounting

Gross Domestic Product and Gross National Product

u  Real and Nominal GDP

u  Price Indexes

u  GDP and Personal Disposable Income

u  Outlays and Components of GDP

u  Some Important Identities

Week 3

Consumption and Saving

u  Factors analysis

u  Consumption Function

u  Saving Function

u  Modern Consumption Theory

Week 4

Investment Spending and Multiplier

u  Investment Decision: Three Methods

u  MEI Curve

u  Investment demand and Investment Function

u  Circulating of Simple Economy

u  Inflation and Deflation Gap

u  Multiplier

u  Some problems

Week 5

Income and Spending

u  Government Sector and Economic Flow

u  NX Sector and Economic Flow

u  Government Sectors and Multipliers

u  Government sector

u  Equilibrium income

u  Effects of Change in Government Purchases

u  Effects of Increased Transfer Payments

u  Effects of Income tax change

u  The Budget Surplus

Week 6

Demand and Supply of Money

u  Monetary Aggregates----Components of the Money Stock

u  The Functions of Money

u  The Demand for Money: Three Motives

u  Empirical Evidence

u  Money stock determination

u  The currency-deposit ratio

u  The reserve-deposit ratio

u  High-powered money

u  Money multiplier

u  The Instruments of Monetary Control

Week 7

IS-LM Model

u  The Goods Market and the IS Curve

u  The Assets Markets and the LM Curve

u  Simultaneous Equilibrium in the Goods and Assets Markets

u  Monetary Policy

u  Fiscal Policy and Crowding Out

u  Is Crowding Out Likely?

u  The Policy Choice and Mix

Week 8

International Linkages

The Balance of Payments and Exchange Rates

u  Exchange Rate: Bilateral (Nominal) and Multilateral (Effective)

u  Trade in Goods, Market Equilibrium, and the Balance of Trade

u  Capital Mobility

u  Mendel-Fleming Model: Perfect Capital Mobility under Fixed FX rates

u  Perfect Capital Mobility and Flexible Exchange Rates