Fall 2007

S S 301 • Honors Social Science: Economics

Course Description

This course provides an introduction to macroeconomics in a political economy setting. The course begins by addressing the traditional goals of macroeconomics policy, such as low unemployment and inflation, and then turns to discussion of policies that can be used to achieve them, such as taxes, expenditures, and interest rate changes. The third part of the course then links the policy tools to the goals through consumption, investment, wages, and prices. The style of teaching is Socratic with considerable emphasis on understanding macroeconomics in the context of the economic problems experienced in the U.S. since World War II. Yet by this method students are expected to gain an understanding of macroeconomic theory at the level usually required of sophomore level economics students. Finally, there is a course paper to permit students to develop their own ideas about an economic problem of interest. Some use of computer models will also augment our learning.

About the Professor

David Kendrick, Sen. Ralph Yarborough Centennial Professor of Liberal Arts, has been teaching macroeconomics to Plan II students since 1988. His specialties are macroeconomics and computational economics. Professor Kendrick holds a doctorate from M.I.T. and was the winner of a President's Associates Teaching Award in 1991-92. He has published ten books.

Grading Policy

Two one-hour exams: 45%
Term paper: 25%
Final exam: 30%

Texts

David A. Kendrick, Goals and Policies for the Economy (mimeo)
Robert E. Hall and David H. Papell, Macroeconomics: Economic Growth, Fluctuations, and Policy
Paul Krugman, Peddling Prosperity

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