MACROECONOMIC THEORY I ECO2142 A SERGE COULOMBE SPRING 2015 COURSE OUTLINE Professor - Serge Coulombe Department of Economics University of Ottawa Office: FSS, 120 University, room 9033  (613) 562 5800 Ext. 1689 Web site: http://aix1.uottawa.ca/~scoulomb/  [email protected] Office Hours – Tuesday and Thursday from 2 to 3PM Description: This course presents basic modern macroeconomic theory. The student will learn some models, techniques and analytical tools that will help him understand the contemporary macroeconomic context including the financial crisis of 2008 and the macroeconomic policy responses. The topics that will be covered in this course include the IS-LM model, the labour market, the aggregate demand and aggregate supply, the Phillips curve, inflation and an introduction to international macroeconomic analysis. Textbooks: Macroeconomics 5th Canadian Edition, N. Gregory Mankiw, and William Scarth, Worth Publishers, Macmillan education New York 2014 The companion website for Quizzes and games is: http://bcs.worthpublishers.com/mankiw8/default.asp#t_796152____ Evaluation: Two midterms and one cumulative final - the final grade will be the best of the results from the following two methods: A) Best midterm exam 30% , weakest midterm Exam 20%, final exam 50% B) Best midterm 30 %, final exam 70 % A student can miss one of the two midterms without medical certificate. The only acceptable excuses for missing another exam are illness/injury, severe illness/injury/death in the family or jury duty. Third-party evidence will be required. For example, medical certificates will have to be validated by the University of Ottawa Health Service on the 3rd Floor of 100 Marie-Curie. Academic Fraud Academic fraud is neither accepted nor tolerated by the University. Anyone found guilty of academic fraud is liable to severe academic sanctions. For more information, students can refer to http://www.uottawa.ca/academic-regulations/academic-fraud.html . Course outline 1. Introduction to macroeconomics Gross Domestic Product, Consumer Price Index, unemployment rate (Chapters 1 and 2) 2. The classical model (Chapter 3) 3. Money and inflation The Quantity theory of money, the real and the nominal interest rates (Chapter 4) 4. Output fluctuations 4.1 Aggregate demand and aggregate supply (Chapter 9) 4.2 The Keynesian Cross First exam after section 10.1 up to page 327 on May 20st 4.3 The IS-LM model 4.4 Fiscal and monetary policy Macroeconomic Theory I (ECO2142 A) Page 2 out of 3 4.5 The liquidity trap and the great recession (post 2008) (Chapter 10 and 11) 5. The open economy (Chapter 5 and 12) Second exam June 13 Chapters 10, 11, 5, and 12 6. Unemployment rate and the Phillips Curve (Chapters 6 and 13) 7. Government Debt and Budget Deficits (Chapter 16) Macroeconomic Theory I (ECO2142 A) Page 3 out of 3