Department of Economics

Econ 3301 - Macroeconomic Theory

Course Objectives and Assessment

Objective 1: Understand the current economic situation.

Outcome:

  1. The student will review and interpret data on inflation, the unemployment rate, and output from the Bureau of Economic Analysis and the Bureau of Labor Statistics.
  2. The student will analyze relations between measures of the economy.

Assessment:

  1. Successful completion of problem sets and success on the exams.

Objective 2: Understand the economy in the short run.

Outcome:

  1. The student will analyze a short run model of the economy.
  2. The student will gain dexterity in manipulating and evaluating models of economic performance.
  3. The student will challenge the assumptions of the models and see how modifications affect the outcomes of models.

Assessment:

  1. Successful completion of problem sets and success on the exams.

Objective 3: Understand the economy in the long run.

Outcome:

  1. The student will master the aggregate demand aggregate supply model and how the economy self-corrects to potential output.
  2. The student will become adept at analyzing a dynamic model of the economy.
  3. The student will learn the nuances of economic growth.

Assessment:

  1. Successful completion of problem sets and success on the exams.

Objective 4: Evaluate monetary and fiscal policy.

Outcome:

  1. The student will understand fiscal policy, the government budget, and the national debt.
  2. The student will understand monetary policy and links to inflation.
  3. The student will understand policy making within the Federal Reserve Bank.

Assessment:

  1. Successful completion of problem sets and success on the first exam, successful participation in a mock Federal Open Market Committee presentation.

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