Success Residency in Economics: Emphasis on Macroeconomics
Office: Business Building S430F
Telephone: 414-229-4103 (faculty office) or 414-228-7731 (home)
Textbook: William Baumol and Alan Blinder, Macroeconomics: Principles and Policy, 12th Edition, Business Higher Education, ISBN-10: 0-538-45365-6, 2012. In addition, an EMBA notebook of presentation slides will be available at the first day of class.
Objective: The Foundation of Economics will emphasize macroeconomics. My objective will be to provide insights into the workings of an economy that are likely to have a lasting significance. Introduce concepts of aggregate demand and aggregate supply, money creation, the Federal Reserve System, business panics and cycles, and the macroeconomic policy debate on the best way to promote sustainable growth in an economy. Given the economic turmoil of high unemployment and subpar economic growth even after a trillion dollar stimulus package, more than ever we need to understand what policies encourage economic growth and full employment.
Test: There will be an exam during the last session covering the assigned chapters up to the last class and material presented in class. The test will be short answer essays and problems. Example exams with answers will be included in your class notebooks.
Special Needs: If anyone has need for note-taking or test-taking assistance, please feel free to discuss this with me early in the session.
Schedule: There will be four foundation class meetings involving economics. They are listed below.
Class # 1 - Demand, Supply, and the Business Cycle - Text: Chapters 1-6 on Friday, September (10:45 AM - 1:15 PM)
Class # 2 - Aggregate Demand, Aggregate Supply, and Fiscal Policy - Text: Chapters 7-11 on Saturday, September 15 (8 - 10:30 AM)
Class # 3 - Monetary Policy, the Federal Reserve System, and the Great Recession - Text: Chapters 12-17 on Saturday, September 22 (2:15-4:45 PM)
Class # 4 - An Abreviated History of Money and an in-class Test on Chapters 1- 17 on Saturday, September 29 (10:45 AM - 1:15 PM)