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									                                 Department of Economics
ECON 212                                                                            Bob Elder
Intermediate Macroeconomic Theory                                                   Spring 2011
                               COURSE INTRODUCTION
                                   (s11cimt – 1/19/11)

1. References
Students are required to buy a set of handouts for this course. This handout set will be available for
purchase in class at the start of the semester. Problem sets, exams, and answers to these exercises
from previous semesters dating back to the late 1990s constitute a virtual text within the Econ 212
folder. This folder is accessible from any computer in the world at
The complete list of documents in the Econ 212 folder is attached to this course introduction. To
decode file names, observe that a = answers, ci = course introduction, d = diagrams, e = exam,
f = fall, fe = final exam, mt = macroeconomic theory, ps = problem set, and s = spring.

2. Course Outline
The different sections of this course outline should not be construed as independent of each other.
For example, classroom discussion of the transmission mechanism of monetary policy in an open
economy will involve sections I.B.2., II.A.1.b., II.A.1.d., II.A.2., and II.A.3. This outline is useful as
an organizational device, framing any particular class session within the context of “the big picture.”

    I.       Macroeconomic Performance and Policy
             A. Performance Objectives
                       1. Maximum Production
                       2. Price Stability
                       3. Full Employment
             B. Policy
                       1. Fiscal
                       2. Monetary
    II.      Macroeconomic Theory: Comparative Static Analysis
             A. The Demand Side of the Economy
                       1. The Market for Final Goods and Services
                            a.       Consumption
                            b.       Investment
                            c.       Government Purchases
                            d.       Net Exports
                       2. Asset Markets
                            a.       Money Supply
                            b.       Money Demand
                            c.       Bond Markets
                            d.       Stock Markets
                       3. Exchange Rate Regimes and Capital Mobility Scenarios
                            a.       Fixed v. Flexible Exchange Rates
                            b.       Perfect v. Imperfect Capital Mobility
             B. The Supply Side of the Economy
                       1. Labor Markets
                       2. Capital Markets
    III.     Macroeconomic Theory: Dynamic Analysis
             A. Theories of Economic Growth

3. Grade Determination
There will be six exams in this course. Each of your five highest exam scores will carry an 18%
weight, and your lowest exam score will carry a 10% weight. Each exam score will be translated into
a letter grade, and of course the overall semester score will be translated into a final letter grade. If
the final letter grade is on a borderline, classroom attendance will be taken into account in order to
break the tie.

4. Office Hours
Office Location: Campbell 201. Office Phone: 2285. Office Hours: Tuesdays and Thursdays
10:00AM to 11:00AM and 3:00PM to 4:00PM.


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