Intermediate Macroeconomics

 date:2010-1-7 11:19:00          


Jeffery D. Sachs, Felipe Larrain B.: Macroeconomics in the Global Economy, Prentice Hall, 1993(Teaching Material)

N. Gregory Mankiw: Macroeconomics, Fifth Edition, Worth Publishers, 2002

Robert E. Hall, John B. Taylor: Macroeconomics, Fifth Edition, W. W. Norton & Company, 1997

Teaching Contents:

Macroeconomics is an economic course focusing on the study of the performance of macro economy. Its concerns include: What determines the rate of economic growth? What accounts for the high or low unemployment rate? Why does the economy sometimes become overheated and sometimes slip into recession? Why can some countries stabilize the commodity price and others can not do so, which results in the hyperinflation? Which role should government play in stimulating economic growth, curing inflation and lowering high unemployment rate, and which approaches can achieve the desired results? Why do some countries have favorable balance of the current account and others adverse balance of the current account? How can economic change of one country influence on that of others.

The characteristics    of course: (1) I will teach courses from the perspective of open economy so that this course stays as close to reality of China and most other countries of world as possible. (2) The teaching compromises the latest advance of macroeconomic research, especially the function of expectation, intertemporal choice of economic entity and time consistency of economic policy. (3) This course relates with macroeconomic realities of China.

Structure of the Course:

1.       Basic concepts of Macroeconomics

2.       The Determinants of aggregate supply/demand and output

3.       Consumption and savings

4.       Investment

5.       The relationships among savings, Investments and Current Account

6.       Government

7.       Money and Monetary Demand

8.       Monetary Supply

9.       Money, Exchange Rate and Price

10.   Inflation and its Cause

11.   Macroeconomic Policy and Determinants of aggregate Output in closed Economy

12.   Macroeconomic Policy in open Economy: based on fixed Exchange Rates

13.   Macroeconomic Policy in open Economy: based on floating Exchange Rates

14.   Inflation and Unemployment

15.   Theories of Business Cycles

16.   Theory of Economic Growth

Course Objectives:

To introduce students to basic measures of aggregate-level economic performance such as gross domestic product, personal income, unemployment, the money supply, and the consumer price index; and, to present the major (competing) theories of national income and employment, inflation, exchange rates and the balance of trade, as well as the policy recommendations to which the alternative theories give rise.


Regular attendance, participation, homework: 20%

Mid –Term Test: 40%

Final Test: 40%

Credits & Workload:

4 Credits & 4 hours per Week (teaching) + 2 hours per Week (tutoring); 15 Weeks, 60 hours (teaching) + 30 hours (tutoring)


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