Success Residency in Economics: Emphasis on Macroeconomics

Syllabus

Executive MBA Program
Sheldon B. Lubar School of Business
University of Wisconsin - Milwaukee
September 2013


Instructor: Richard D. Marcus, Ph.D., Associate Professor and Chair, Lubar School of Business Executive Committee

Office: Business Building S430F

Telephone: 414-229-4103 (faculty office) or 414-228-7731 (home)

E-mail: marcus@uwm.edu

Dick's HOMEPAGE: https://pantherfile.uwm.edu/marcus/www/

Dick's Lubar School page:http://www4.uwm.edu/business/faculty/busfaculty/marcus.cfm

Dick's EMBA bio page for cluster 4:https://pantherfile.uwm.edu/marcus/www/Bio2013.html

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: This short Economics Success Residency emphasizes the key ideas of 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 unprecedented trillions in Quantitative Easing from the Federal Reserve and trillion-doller per year deficit spending, more than ever we need to understand what policies encourage economic growth and full employment.

Test: Each class there will be a daily assessment of learning objectives for that day. Each assessment will be short answer essays or problems. There will be no final exam.

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.



Schedule

Class # 1 - Demand, Supply, and the Business Cycle - Text: Chapters 1-5 on Friday, September 6 (10:45 AM - 1:15 PM) including a 15 minute assessemt #1.

Class # 2 - Aggregate Demand, Aggregate Supply, and Fiscal Policy - Text: Chapters 6-9 on Saturday, September 14 (8 - 10:30 AM) including a 15 minute assessment #2.

Class # 3 - Fiscal and Monetary Policy - Text: Chapters 10-13 on Saturday, September 21 (2:15-4:45 PM) including a 15 minute assessement #3.

Class # 4 - Quantitative Easing, the Great Recession, the History of Money, and the Phillips Curve - Text: Chapters 14-17 on Saturday, September 28 (10:45 AM - 1:15 PM) including a 15 minute assessment #4.