Econ 3301 - Macroeconomic Theory
Course Objectives and Assessment
Objective 1: Understand the current economic situation.
Outcome:
- 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.
- The student will analyze relations between measures of the economy.
Assessment:
- Successful completion of problem sets and success on the exams.
Objective 2: Understand the economy in the short run.
Outcome:
- The student will analyze a short run model of the economy.
- The student will gain dexterity in manipulating and evaluating models of economic performance.
- The student will challenge the assumptions of the models and see how modifications affect the outcomes of models.
Assessment:
- Successful completion of problem sets and success on the exams.
Objective 3: Understand the economy in the long run.
Outcome:
- The student will master the aggregate demand aggregate supply model and how the economy self-corrects to potential output.
- The student will become adept at analyzing a dynamic model of the economy.
- The student will learn the nuances of economic growth.
Assessment:
- Successful completion of problem sets and success on the exams.
Objective 4: Evaluate monetary and fiscal policy.
Outcome:
- The student will understand fiscal policy, the government budget, and the national debt.
- The student will understand monetary policy and links to inflation.
- The student will understand policy making within the Federal Reserve Bank.
Assessment:
- Successful completion of problem sets and success on the first exam, successful participation in a mock Federal Open Market Committee presentation.