Dr. Philip Shaw

Dealy Hall, East 522

Phone: 718-817-4048

Email: pshaw5@fordham.edu

Office Hours: Monday, 2pm-3:30pm & Thursday 5:30pm-7pm.

Course textbook: Macroeconomics, Stephen D. Williamson, 6th. edition.

Course description: ECON 3020 is an intermediate-level course in macroeconomic theory that examines national income accounting; the determination of aggregate output, employment, and price levels; and the foundations of business cycles and economic growth. The course offers a rigorous and analytical treatment of intermediate macroeconomics. It begins with an overview of key facts about the U.S. economy and the methods used to measure macroeconomic activity. The course then introduces core macroeconomic models with microeconomic foundations that help explain these observed facts. The semester is organized as follows: (1) basic facts and measurement in macroeconomics; (2) long-run economic growth; (3) a one-period model of the macroeconomy; and (4) a two-period model of the macroeconomy.

Course Outline:

A. Introduction - Chapter 1

B. Measurement - Chapter 2

C. Business Cycle Measurement - Chapter 3

D. Consumer and Firm Behavior - Chapter 4

E. A Closed-Economy One-Period Model - Chapter 5

F. Search and Unemployment - Chapter 6

G. Economic Growth: Malthus and Solow - Chapter 7

H. Income Disparity Among Countries and Endogenous Growth - Chapter 8

I. A Two-Period Model: The Consumption-Savings Decision - Chapter 9

Problem Sets: