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Preliminary Syllabus

BUSE 6203
Spring 2015, Module B

MACROECONOMICS
Tues/Thur 9:30-10:50 & 11:00-12:20; Crow 190

Professor Harvey Rosenblum
Phone: 214-906-5617 (cell)
SMU Office: Crow 278D
214-768-3613 (office)
Office Hours: Tues/Thur 1-2 pm; Wed. 5-6 pm and by appointment
E-mail: harvey@smu.edu
COURSE OBJECTIVES
This course will cover contemporary issues in macroeconomics, the analysis of developments in the
US and global economies. We will study the factors that influence economic growth and inflation, and
the policy tools available to influence growth, inflation and foreign exchange rates. A secondary
objective is to provide students with an understanding of the causes and consequences of the 2007-09
Financial Crisis and the subsequent Great Recession.
REQUIRED TEXTS
Frederic S. Mishkin, Macroeconomics: Policy and Practice, Pearson, 2nd Edition, 2015.
[Abbreviation: Mishkin]
Strongly suggested: Wall Street Journal, articles as assigned. This is your “living textbook.” If you
need to subscribe, a ten week subscription is available, with electronic apps, for $10 from
www.wsj.com/summer. Longer period, heavily discounted subscriptions, again with electronic apps,
can be found at www.wsj.com/studentoffer .
GRADES
Two short “surprise” quizzes @ 7.5% each
Midterm Exam
Class Participation/Discussion
Final Exam

15%
30%
10%
45%

GRADE DISTRIBUTION
Cox School of Business guidelines: Graduate Core Classes
A
Max 20%
AMax 20%

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which formulates the nation’s monetary policy. Dr. A good grade for class participation requires good attendance and good quality participation. Federal Reserve Bank of Dallas. KEY TAKEAWAYS The last 10 minutes of each class will be spent interactively compiling a list of key takeaways from the class lecture and class discussion. together with other business schools. (See University Policy No.asp to begin the process.) ASSIGNMENTS 2 . a tent card with your name must be displayed at each class.edu/alec/dass. Students may call 214-768-1470 or visit http://www. Dr.INSTRUCTOR The course will be taught by Harvey Rosenblum. he served as Associate Economist for the Federal Open Market Committee. and until recently. a stable vs. University Rules: Disability and Religious accommodation Disability must first be registered with Disability Accommodations & Success Strategies (DASS) to verify the disability and to establish eligibility for accommodations.) Religiously observant students wishing to be absent on holidays that require missing class should notify their professors in writing at the beginning of the semester. an attachment describes the DASS procedures and relocated office. this class is intended to help provide an understanding of macroeconomic issues that affect the economies of many countries in different ways such as inflation. etc. a weak or strong currency. in advance. acceptable ways of making up any work missed because of the absence. to the classroom.9. students should then schedule an appointment with the professor to make appropriate arrangements. A couple of students will be asked to serve as “scribe” so that the list of takeaways can be made available. A famous comedian once said: “Eighty percent of success is just showing up. now retired. This list will form the starting point for the next lecture. 2. rapid growth. Once registered.4. so that additional clarification can be offered. SMU Professor of Financial and Economic Practice. Part of Quiz # 2 will ask students to summarize the key macroeconomic issues they anticipate encountering in the countries they will visit this year. He brings considerable experience. 1. He also has experience in the money and capital markets. ATTENDANCE POLICY The exam questions are based heavily on class lecture/discussion material.smu. Rosenblum is the past President of the National Association of Business Economists.” It is difficult to grade participation if I don’t know who you are. both as a practitioner and as a professor. Rosenblum has taught at SMU for 28 years and. for over 40 years. Executive Vice President and Director of Research. slow vs. MBA CLASS FOREIGN TRIPS As part of the preparation for your upcoming foreign trips. unstable financial system. Until recently. and should discuss with them. (See University Policy No.

the Economist and other publications are discovered and mentioned in class. Ch. 6. Production and wages Reading assignments: Mishkin: Ch. Syllabus is a contract. 50-59) March 24 Learning Objectives: 1. 3 (p. 2 (p. Macro themes of 2015 2. 4 March 26 Reading Assignments: Mishkin: Ch. Key macroeconomic concepts and measures 3. policy and metrics Learning Objectives: 1. Ch. 7 (p.Please Note: As current articles from the Wall Street Journal. 7 (p. 178-189) April 2 April 7 Quiz 1 Reading Assignments: Mishkin: Ch. Policy and politics are often inseparable Reading Assignments: Mishkin: Ch. 2 (p. 5 March 31 Learning Objectives: Long-run determinants of economic growth. The Federal Reserve. 20-37) March 19 Learning Objectives: 1. 37-43). Ch. Investment and Capital Flows between countries 2. money and inflation Reading Assignments: Mishkin: Ch. Saving. Ch. short-run business cycles Reading Assignments: Mishkin: Ch. Macro issues. 8 Learning Objectives: The goods market and the money market and the role of monetary policy 3 . 1. 189-199). Ch. 3 (p. copies of many of these articles will be provided as handouts. they will be added to the list of assignments. March 17 Class Orientation. 59-69). To the extent feasible.

9. 248-364). 9:30 am-12:20 pm. 13 (p. Ch. Ch.251-256) Reading Assignments: Ch.April 9 April 14 Reading Assignments: Mishkin: Ch. Crow 175 4 . 13 (p. 12. 14 (read on your own— minimal lecture on this topic) Learning Objectives: Financial crises. policy rules and policy discretion. 10 (p. both sections. 257-269). 15 and 16 April 30 May 5 Reading Assignments: Mishkin Ch. 11 April 16 MID-TERM EXAM April 21 April 23 April 28 Learning Objectives: Unforeseen shifts in aggregate demand. Ch. the financial system Reading Assignments: Mishkin: Ch. fiscal policy and exchange rate determination QUIZ 2 Reading Assignments: Mishkin: Ch. Ch. 17 FINAL EXAM. 10 (p. 10 Appendix Learning Objectives: Aggregate supply and the modern-day Phillips Curve Reading Assignments: Mishkin: Ch. 327-348) Reading Assignments: Mishkin: Ch.