WKU
ECON 203
​Principles of Macroeconomics
COURSE CALENDAR/OUTLINE
Week 1
M (Aug 26) Class Policies
W (Aug 29) Economics Backstory, Markets, & Scarcity
Reading: Adam Smith (CEE) Undercover Economist Chapter 1
Graphics/Slides: Layer Cake Intro Backstory & Scarcity PPT
Week 2
M (Sept 2) LABOR DAY -- NO CLASS
W (Sept 4) Prices on Micro & Macro Levels
Reading: Undercover Economist Chapter 3 CPI (CEE)
Graphics/Slides: Prices & Macro PPT I, Pencil Video Movie Data CPI Gasoline Price Data
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Week 3
​M (Sept 9) Measuring Macro Conditions
Readings: Making Sense of Unemployment (StL Fed) GDP (up to GDP v. Gross National Income) Constant Dollar (Real) GDP
National Net Worth
Graphics/Slides: GDP, Wealth, Unemployment Powerpoint
HP and Unintended Consequences Part 1 Part 2
W (Sep 11) Exam 1 (Refer to Study Questions Sections 1-4)
Week 4
M (Sept 16) Measuring & Explaining Differences in Living Standards
Readings: Overview of Living Standards Extra Credit Map due at Exam 2: IMF Link & Handout
Extra Credit Map: IMF Link & Handout
Graphics/Slides: Living Standards Basics PPT Moscow on the Hudson
Gapminder World GDP & Life Expectancy, Infant Mortality IMF GDPPC Map
Intra & Inter-Country Comparisons (World Bank)
Reading Supplement: Cross Country Growth (Phil Fed)
W (Sept 18) Measuring & Explaining Differences in National Living Standards
Readings: Undercover Economist Chapter 8 + 10
Graphics/Slides: Living Standards Factors PPT Econ Freedom Map (Fraser)
Hotel Rwanda Clip 1 Hotel Rwanda Clip 2
Experts Easterly Review
Week 5
M (Sept 23) Innovation, Creative Destruction & Growth in Living Standards + Sustainability
Readings: Creative Destruction (CEE)
Graphics/Slides: Living Standards & Innovation PPT Robotic Surgery RB2
W (Sept 25) Trade & Growth in Living Standards
Readings: Undercover Economist Chapter 9
Graphics/Slides: Living Standards & Trade PPT Shipping Visualization Container Ship Video (0:41-)
Busch Ad 1 Busch Ad 2 Regional Look at Trade (StL Fed)
Supplements: International Trade (Dallas Fed) Globalization (Dallas Fed)
Week 6
M (Sept 30) Review + Questions/Topics Related to Economic Growth
Sustainability & Limits
Graphics/Slides: PPT (Last Section) Avengers IW Thanos' Goal
W (Oct 2) Exam 2 (Refer To Study Questions Sections 5-6)
Extra Credit Map due at Exam 2: IMF Link & Handout
Week 7
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M (Oct 7) Financial Markets: Money & Credit Markets
Readings: Money (Dallas Fed) Overview of Credit Markets Anatomy of a $100 Bill (PBS-NOVA)
Graphics/Slides: Money & Credit Markets PPT It's a Wonderful Life Clip Friedman Video on Panic
Supplements: Financial Panics (CEE) UE Chapter 6 (orange cover) The Story of Money (Atl Fed)
Bitcoin (StL Fed) Strong Dollar v Weak Dollar (StL Fed)
Bloomberg FX rates Gold Prices Big Mac Index
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W (Oct 9) TBD
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Week 8
M (Oct 14) Financial Markets: Fed, Monetary System, & Inflation
Readings: The Fed (Dallas Fed) What is the Fed (SF Fed) Inflation (CEE)
Graphics/Slides: Fed & Inflation PPT
W (Oct 16) Additional Financial Markets: Stock Markets & Insurance Markets
Readings: Overview of Stock Markets Undercover Economist Ch 6 (green cover)
Graphics/Slides: Stock & Insurance Markets PPT
Week 9
M (Oct 21) Review, Questions & Related Topics
Optimal Risk
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W (Oct 23) Exam 3 (Refer To Study Questions 7-10)
Week 10
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M (Oct 28) Government & The Economy
Reading: U.S. Taxes & Spending
Graphics/Slides: Govt & Economy PPT
W (Oct 30) Fiscal Policy: Deficits & Debts in U.S. & International
Reading: US Debt in Near Term (Stl Fed) + US Debt in Long Term (StL Fed)
Graphics/Slides: Deficits & Debt PPT
Week 11
M (Nov 4) Recessions: Facts & Causes
Reading: Business Cycles
Graphics/Slides: Great Depression Video (2:50-8:30) Business Cycles PPT
W (Nov 6) Recessions: Monetary & Fiscal Policy Responses
Reading: Stimulus Policy
Graphics/Slides: Countercyclical Policy PPT
Week 12
M (Nov 11) Review & Related Topics
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W (Nov 13)
Exam 4 (Refer to Study Questions Sections 11-13)
Week 13
M (Nov 18) Differences in Income in the U.S. & Other Wealthy Nations
Reading: Overview of Income Inequality
Graphics/Slides: PPT on US Income Differences
W (Nov 20) Macro & Health Care
Reading: UE Chapter 5 John Cochrane Blog
Reading: Health Care Benefits (MN Fed)
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Graphics/Data: PPT CPI & CPI-Med GDP & HC Expenditures HC Expenditures & Child Mortality
Govt Share Out of Pocket Country Wait Times CT & MRI
Supplement: Alternatives Outside the Box on HC Policy (CEE)
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Week 14
M (Nov 25) Overview of Selected World Economic Issues
W (Nov 27) Thanksgiving Break -- NO CLASS
Week 15
M (Dec 2) Lessons & Questions about Markets
No Reading
Graphics/Slides: Ideas to Remember PPT
W (Dec 4) Exam 5 (study questions section 14 + prior exams)
Week 16 Finals Week
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
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)