Economics 110, Section 2: Introduction to Economic Theory

Professor Christiaan Hogendorn
Spring 2004
Prof. Hogendorn's Homepage Course Policies

Syllabus

SW = Stiglitz and Walsh, Economics, 3rd edition.
Readings in brackets will not be covered in exams except to the extent we discuss them in class.
Answers to SW Problems: Micro Macro

I. Introduction
Jan. 22 Th 1. Introduction
SW, Chapter 1 and 2 Review: SW, Chapter 1 and 2: all.
Jan. 27 T 2. Markets for Goods and Services and "Why is Economics the Dark Side?"
SW, Chapter 4.
Online reserve: Jerry Muller, The Mind and the Market, Chapter 1 		Review: SW, Chapter 4: all.
Jan. 29 Th 3. Analysis in the Supply and Demand Model
SW, Chapter 5. Review: SW, Chapter 5: all.
Feb. 3 T 4. Consumer and Producer Surplus
SW, Chapter 6, pp. 121-123.
 Problem Set 1 due. Answers.
Feb. 5 Th FIRST MIDTERM
Classes 1-4 Exam  Answers

II. Economic Policy Using Supply and Demand
Feb. 10 T 5. Taxes and Price Controls
SW, Chapter 10, pp. 203-212.
Article: David Wessel, "Behind Tax Debate, Issues of Ethics and Economics," The Wall Street Journal, Jan. 1, 2003, pg. A1. 		Review: SW, Chapter 10: 4-6.
Feb. 12 Th 6. International Trade
SW, Chapter 18.
Article: "Free Trade on Trial," The Economist, Jan. 3, 2004, pp. 13-16. 		Review: SW, Chapter 18: all.
Feb. 17 T 7. Externalities and the Environment
SW, Chapter 21. Problem Set 2 due. Answers.
Review: SW, Chapter 21: all.

III. Perfect Competition
Feb. 19 Th 8. Production and Costs
SW, Chapter 7 Review: SW, Chapter 7: all.
Feb. 24 T 9. The Competitive Firm
SW, Chapter 8 Problem Set 3 due. Answers.
Review: SW, Chapter 8: all.
Feb. 26 Th 10. The Labor Market
SW, Chapter 9 pp. 173-183. Review: SW, Chapter 9: 1-3.
Mar. 2 T 11. The Capital Market
SW, Chapter 9, pp. 183-194 and Appendix C.
Article: Merrill Goozner, "Higher Skills, Fewer Jobs," The American Prospect, January, 2004. 		Problem Set 4 due. Answers.
Review: SW, Chapter 9: 4-12.
Mar. 4 12. Market Imperfections and Monopoly
SW, Chapter 12. Review: SW, Chapter 12: all.
Spring Break  

IV. Neoclassical Macroeconomics
Mar. 23 T 13. Introduction to Macroeconomic Models
SW, Chapter 22 and Chapter 23. Review: SW, Chapter 23: all.
Mar. 25 Th 14. A Simple Neoclassical Macro Model
SW, Chapter 24, pp. 489-506. Review: SW, Chapter 24: 1-5.
Mar. 30 T 15. Money and Central Banks
SW, Chapter 24, pp. 506-511.
SW, Chapter 25. 		Problem Set 5 due. Answers.
Review: SW, Chapter 24: 6-8.
Review: SW, Chapter 25: all.
Apr. 1 Th 16. Savings and Investment
Review SW, Chapter 24. Review: none.
Apr. 6 T 17. Government and Deficits
SW, Chapter 26. Problem Set 6 due. Answers.
Review: SW, Chapter 26: all.

V. Keynesian Macroeconomics
Apr. 8 Th 18. Business Cycles
SW, Chapter 28 (incl. appendix). Review: SW, Chapter 28: all.
Apr. 13 T SECOND MIDTERM
Classes 5-17 Exam  Answers
Apr. 15 Th 19. A Simple Keynesian Macro Model
SW, Chapter 29. Review: SW, Chapter 29: all.
Apr. 20 T 20. Aggregate Demand and Inflation
SW, Chapter 30 Problem Set 7 due. Answers.
Review: SW, Chapter 30: all.
Apr. 22 Th 21. Inflation and Unemployment
SW, Chapter 31. Review: SW, Chapter 31: all except 4,11.
Apr. 27 T 22. Fiscal and Monetary Policy
SW, Chapter 32. Review Problem Set 8.
Review: SW, Chapter 32: all.
Apr. 29 Th 23. Globalization
SW, Chapter 33.
Article: Joseph E. Stiglitz, "Globalism's Discontents," The American Prospect,vol. 13 no. 1, January 1, 2002
Article: Amartya Sen, "How to Judge Globalism," The American Prospect vol. 13 no. 1, January 1, 2002. 		Review: SW, Chapter 33: all.

May 4 T 24. Household Choices Revisited
SW, Chapter 6, pp. 109-121 and Appendix.
SW, Chapter 9, Appendix A. 		Problem Set 9 due. Answer.

May ? Review Session

May 11 FINAL EXAM
2:00 p.m. - 5:00 p.m.