Economics 201,
Summer 2008, Mathew Forstater
Class Meetings
Section 001: MW 1-3:45pm Flarsheim Hall Rm. 260
Section 002: Internet Course
BlackBoard: https://blackboard.umkc.edu
Graduate Teaching Assistant: Mike Murray; Email: mjmyq2@umkc.edu
Textbook: Case and Fair Principles of Macroeconomics 8th Ed. Prentice Hall
EXTRA CREDIT:
Heilbroner, R.L. "The Heresies of John Maynard Keynes" in The Worldly Philosophers
Galbraith, John Kenneth. Chapter Five ("The Crash") in The Great Crash: 1929
Galbraith, John Kenneth. "A Short History of Financial Euphoria" in Money
Wray, L. Randall. Ch. 4 ("Government Spending, Deficits, and Money") in Understanding Modern Money
HOMEWORK: HOMEWORK 1
COURSE OUTLINE W/ REFERENCES TO CASE AND FAIR TEXT (For Both 7th and 8th Editions, if you purchased a text earlier then the 7th Ed. the chapters may be a little off.)
EXAM 1: CASE AND FAIR; CHAPTERS 1 - 6
ECONOMIC PRINCIPLES AND INSTITUTIONS CHP. 2
SUPPLY, DEMAND AND EQUILIBRIUM CHPS. 3-4
ELASTICITY (FROM HANDOUTS)
THE MACROECONOMIC APPROACH CHP. 5
THE NATIONAL ECONOMY CHP. 6
EXAM 2: CASE AND FAIR; CHAPTERS 8 & 9
CONSUMPTION, SAVINGS AND INVESTMENT: NEOCLASSICAL THEORY CHP. 8
CONSUMPTION, SAVINGS AND INVESTMENT: KEYNES CHP. 9
THE MULTIPLIER CHP. 8
FISCAL POLICY CHP. 9
EXAM 3: CASE AND FAIR CHAPTERS; 9, 10, 11, 12, 13, 14, 15, 19, 20, 23
REAL BALANCE EFFECTS AND THE NEOCLASSICAL SYNTHESIS CHP. 13
WHAT IS MONEY? CHP 10
MONEY CREATION, THE MONEY MULTIPLIER, ENDOGENOUS MONEY CHP. 10-11
MONETARY POLICY AND INFLATION CHP. 12
POLICY DEBATES CHPS. 13-15, 19
DEFICITS AND THE DEBT CHPS 9, 12
GROWTH AND TRADE IN THE GLOBAL ECONOMY CHPS. 20-23
PowerPoint Presentations
Introduction to Macroeconomics
Supply, Demand, and Equilibrium AND Elasticity
Keynesian Fiscal Expansionary Policy
Neoclassical-Keynesian Synthesis
Government Budgets and National Debt
Discussion Session Questions
DS 1. Production Possibilities Answers
DS 2. Supply, Demand, Equilibrium and Elasticity Answers
DS 3. GDP/Unemployment Answers
DS 4. Neoclassical Macroeconomics Answers
DS 5. Keynesian Macroeconomics Answers
DS 6 Keynesian Algebra Answers
DS 7 Keynesian Fiscal Expansionary Policy Answers
DS 8 Real Balance Effects Answers
DS 9 Keynesian Expansionary Monetary Policy Answers
Handouts
Course Readings
2. Economic Systems (Direct Access from UMKC campus)
Economic System (Access from outside UMKC campus:
1) Type Economic System in the Search bar;
2) Choose your first result to the left of the page. This is the article you'll have to read.
Somewhere in this process you will need your UMKC user account and password to access
the article.)
3. Production Possibilities (1st Reading)
Production Possibilities (2nd Reading)
4. Supply, Demand and Equilibrium
5. Elasticity
Exam 1 REVIEW
8. The Neoclassical Theory of Output
9. The Keynesian Model
Keynes' critique of neoclassical theory of savings and investment
10. The Multiplier
EXAM II
12. Balanced Budget Multiplier
13. Money