WKU
ECON 203
​Principles of Macroeconomics
(Fall 2020)
COURSE CALENDAR/OUTLINE
Material and timing are subject to change so check back regularly
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Section I: Starting Points for Macroecon
Week 1 - 2 (Aug 24 - Sept 3)
Reading & Background: Undercover Economist Chapter 1 & Chapter 9
Video Lectures:
Class Policies
Scarcity/Limits
Tradeoffs & Limits
Links to Materials in Video:
Powerpoints: Scarcity/Limits/Tradeoffs PPT Markets & Trade PPT
External Videos: Layer Cake Intro
HP and Unintended Consequences Part 1 Part 2
Globalization (MRU) Shipping Visualization Container Ship Video (0:41-)
Regional Look at Trade (StL Fed) I, Pencil Video
Exam 1 Available Tuesday, Sept 1 @ 2PM to Thursday, Sept 3 @ 3PM
40-minute time limit once the exam is started
Deadline Thursday, Sept 3 @ 3 PM (NO STARTING AFTER DEADLINE FOR ANY REASON)
Exam covers readings & video lectures
Study Questions Sections 1 & 6 [trade-related question] provide practice
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Section II: More Starting Points for Macroecon
Week 3-4 (Sept 6 - Sept 17)
Readings: Undercover Economist Ch. 3 CPI (CEE)
Price Signals/Incentives (MRU)
Video Lectures:
Macroeconomic Measurement of Prices (no transcript on this one)
Measuring Expenditure & Income
Measuring Employment & Unemployment
From Lecture to Exam (short help video for Exam 2)
Links to Materials in Video Lecture:
Powerpoints: Prices Micro & Macro PPT Prices & Macro PPT
External Videos: Rent Control in Mumbai (MRU) Measuring Inflation (MRU)
State & City-level PI PPP & Haircuts in India (MRU)
Making Sense of Unemployment (StL Fed)
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Exam 2 Available Tuesday, Sept 14 @ 12PM to Thursday, Sept 17 @ 3PM
40-minute time limit once the exam is started
Deadline Thursday, Sept 17 @ 3 PM (NO STARTING AFTER DEADLINE FOR ANY REASON)
Exam covers readings & video lectures
Study Questions Sections 2-4
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Section III: Worldwide LIving Standards & Changes in Them
Week 5-6 (Sept 20 - Oct 1)
Readings: Overview of iving Standards Undercover Economist Chapters 8 + 10
Creative Destruction (CEE)
GDP Per Capita Assignment Use this World Bank GDP Per Capita Map & Data
(This is prep for extra credit questions that will appear on Exam 3)
Video Lectures:
Measuring Living Standards over Time & Place
Influences on Living Standards
Innovation, Creativity, & Technology
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Links to Materials in Videos
Powerpoint Slides: Living Standards PPT PPT on Growth Issues
External Videos: Hotel Rwanda Clip 1 Hotel Rwanda Clip 2
Creative Destruction (MRU) Institutions (MRU)
Thanos Avenger IW Speech
Exam 3 Available Tuesday, Sept 29 @ 12PM to Thursday, Oct 1 @ 3PM
40-minute time limit once the exam is started
Deadline Thursday, Oct 1 @ 3 PM (NO STARTING AFTER DEADLINE FOR ANY REASON)
Exam covers readings & video lectures
Study Questions Sections 5-6
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Section IV: Money, Credit, & Financial Markets
​​Weeks 7-8 (Oct 4-15)
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Readings: Overview of Money & Credit Markets
What Do Banks Do (MRU Video)
Fed as Lender of Last Resort (MRU)
Video Lectures:
Money, Credit, & Financial Panics
Federal Reserve System & Money
Stock Markets
From Videos/Reading/Lectures to Exam 4
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Links to Materials in Lectures:
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Powerpoint Slides: Money & Credit Markets PPT Inflation & Fed PPT Stock Markets
External Videos: Zimbabwe Inflation (MRU) Causes of Inflation (MRU)
It's a Wonderful Life Movie Clip Anatomy of a $100 Bill (PBS-NOVA)
Intro to Stock Markets (MRU) Inflation (CEE)
Exam 4 Available Tuesday, Oct 13 @ 12PM to Thursday, Oct 15 @ 3PM
40-minute time limit once the exam is started
Deadline Thursday, Oct 15 @ 3 PM (NO STARTING AFTER DEADLINE FOR ANY REASON)
Exam covers readings & video lectures
Study Questions Sections 7-10
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Section V: Recession Facts, Causes, & Responses
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Weeks 9-10 (Oct 18-Oct 29)
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Readings: Business Cycles Monetary Policy and the Fed (MRU)
Intro to Fiscal Policy (MRU) Limits of Fiscal Policy (MRU)
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Video Lectures:
Monetary (Fed) Policy & Recessions
Links to Materials in Lectures:
Powerpoint: Business Cycles PPT Countercyclical Policy PPT
External Videos: Intro to Business Fluctuations (MRU)
Great Depression Video first 10 minutes
Exam 5 Available Tuesday, Oct 27 @ 12PM to Thursday, Oct 29 @ 3PM
40-minute time limit once exam is started
Deadline Thursday, Oct 29 @ 3 PM (NO STARTING AFTER DEADLINE FOR ANY REASON)
Exam covers readings & video lectures
Study Questions Section 13
Section VI: Topics in Government & Macroeconomy
Weeks 11-13 (Nov 1 - Nov 19)
*Note the change in dates; this section is now 3 weeks in length
*Exam 6 will be available for 10 days (Nov 9 - Nov 19)
The time limit will be extended to 50 minutes
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Readings: U.S. Taxes & Spending Overview of Income Inequality
Health Care Benefits (MN Fed)
Video Lectures:
Income Inequality
Macroeconomics & Healthcare
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Links to Materials in Lectures:
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Powerpoint Slides: Govt & Economic Systems PPT Taxes, Spending & Debt PPT
PPT on US Income Differences PPT on Macro & Healthcare
Additional Reading If Interested: US Debt in Near Term (Stl Fed) US Debt in Long Term (StL Fed)
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Exam 6 Available Monday, Nov 9 @ 12PM to Thursday, Nov 19 @ 3PM
50-minute time limit once started
Deadline Thursday, Nov 19 @ 3 PM (NO STARTING AFTER DEADLINE FOR ANY REASON)
Exam covers readings & video lectures
Study Questions Section 11 & 12
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Week 14 is Thanksgiving Holiday
Week 15
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Exam 7 Available from Monday Nov 23 @ 12PM to Wednesday, Dec 2 @ 3PM
45-Minute Time Limit Once Started
Deadline Wednesday, Dec 2 @ 3 PM (NO STARTING AFTER DEADLINE)
THIS EXAM SCORE WILL NOT BE DROPPED
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Week 16 Finals Week (no activities)
What Are Major Economic Threats?
Readings: US Debt Looming Disaster (StL Fed) 800 Years of Financial Folly (VoxEU)
Data/Graphics: Powerpoint on Debt
Debt Crisis in Europe (StL Fed) EU Debt EU Data
Macroeconomics & Health Care
​​Graphics/Data: Macroecon & Health Care PPT (not yet posted)
Readings: Health Care Benefits (MN Fed)
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Video Lectures:
Income Inequality ​Facts
Income Inequality Factors
Macroecon & Health Care
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Links to Materials in Lectures:
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Powerpoint Slides: Health Care & Macro PPT
External Material: CPI & CPI-Med GDP & HC Expenditures HC Expenditures & Child Mortality
Govt Share Out of Pocket Country Wait Times CT & MRI
What Are Recessions, Causes, & Cures?
Readings: There are no required readings
Graphics/Data: GDP in Long & Short Run (StL Fed) Constant Dollar GDP Changes & Unemployment (StL Fed)
Fed Expenditue & Monetary Base
Additional Topics
Macroecon & Health Care
Readings: Healthcare Different? (CEE) Health Care Benefits (MN Fed)
Data/Graphics: GDP & Health Expenditures (Gapminder) Out of Pocket Exp (Gapminder)
Country Wait Times (OECD) MRI & CT Per Capita (OECD) Wait Times in Canada (Fraser)
Exchange Rate Data (Bloomberg) Economist Big Mac Website
F (Aug 28) What Are Alternative Ways of Distributing Goods? Readings: Capitalism (CEE) Socialsim (CEE) Graphics/Data: Cows & Econ Systems Size of Govt by Country (OECD) US Size of Govt (StL Fed)
How Does the CPI Overstate Health Care Prices?
Readings: Health Care Benefits (MN Fed) Undercover Economist Chapter 5
Graphics/Data: CPI & CPI-Med GDP & HC Expenditures Country Wait Times CT & MRI
What about U.S. Inequality & Its Sources?
Readings: Poverty -- US Income Distribution (CEE) Inequality: Problem or Symptom (Cochrane)
Graphics/Data: PPT on US Differences
Related: Cross-Country Comparisons (NYT) Income Distribution & Mobility
US Federal Poverty Assistance (CRS) Income Mobility (StL Fed) Wages & Productivity (Bloomberg)