Department of Economics
ECON 274.3 (06)
Intermediate Macroeconomic Theory
T2 : 201617
Course Details
Time:  Tuesday and Thursday 10:0011:20 
Prerequisites:  ECON 114, ECON 211, and one of MATH 104, 110, 121, 123, or 125 
Course Description:  Presents the student with a formal analysis of national accounting, the consumption function,
investment, public expenditure, taxes, budgets, money and interest, general equilibrium, the open
economy, aggregate supply and demand, public policy, inflation, and growth theory. 
Website:  Some materials will be available on Blackboard. 
Expected Learning Outcomes
This course shows how economic aggregates such as GDP, aggregate consumption, unemployment and inflation can be studied and understood
using formal models.
Upon successful completion, students will understand how aggregate outcomes are related to individual decisions and
how policy affects the macroeconomy through behavioural changes. They will be familiar with simple dynamic general equilibrium models
and be able to apply them to a range of problems.
Instructor
Andreas Pollak  Phone: 9665221 
Arts 812  Email: a.pollak@usask.ca (preface subject with “ECON274”) 
Office Hours:  Tuesday and Thursday 14:4515:30, or by appointment 
Tutorials
There will be biweekly tutorial sessions starting in week 2 or 3 of the term. They will take place
on Wednesdays from 16:00 to 17:20. Further details will be announced at the beginning of the term.
Attendance is voluntary, but recommended.
In the tutorials, a teaching assistant will discuss assignments, solve problem sets, assist
you in practicing for exams and answer your questions.
__FORCEPAGEBREAK__Course Outline and Readings
The required textbook for this course is:
S. D. Williamson, Macroeconomics, Fourth Canadian Edition, Pearson Education: Toronto, 2012.
1.  Introduction and Basics 

1.1.  Macroeconomic Data and Variables 
 Williamson, Chapters 1 and 2 
1.2.  Mathematical and Microeconomic Foundations 
 Williamson, Chapter 4 
1.3.  A Static Market Clearing Model 
 Williamson, Chapter 5 

2.  Macroeconomic Dynamics 

2.1.  Economic Growth 
 Williamson, Chapter 7 
2.2.  Intertemporal Consumption Decisions 
 Williamson, Chapter 9 and MIA 10.1 (p. 334) 
2.3.  A Dynamic Market Clearing Model 
 Williamson, Chapters 11 (all) and 13 (pp. 438448) 

3.  Money and Unemployment 

3.1.  Money, Prices, and Inflation 
 Williamson, Chapters 12 (pp. 394400 and 407433) and 17 (pp. 566582) 
3.2.  Unemployment 
 Williamson, Chapter 6 (pp. 537552) 
3.3.  The Phillips Curve 
 Williamson, Chapter 18 

Required readings for each topic are printed in bold font.
Note that the course outline and reading list are preliminary and may be updated during the term.
Evaluation
There will be three components to your grade:
Component  Date  Weight 
Assignments  TBA  20% 
Midterm Exam  February 28  20% 
Final Exam  TBA  60% 
Assignments:  You will complete a number of assignments (approximately 5) during the term. If you receive help from any source (book, another person, website) you must cite it on your assignment. Failure to cite could be construed as academic dishonesty. You will have at least one week to complete each assignment. While you are encouraged to cooperate solving the assignments, I expect the answers that are handed in to reflect students’ individual contributions. Late assignments will not be accepted. Answer keys will be posted online, and the assignments will be discussed in in the tutorials.
There will also be a similar number of “problem sets,” which are comprised of
practice questions similar to assignments. Just as assignments, the problem sets
will be discussed in the tutorials and answer keys will be posted online. Even
though they are not handed in and graded, it is recommended that you attempt to
solve them before attending the tutorial or reading the answer key. 
Exams:  There will be an 80minute midterm exam and a 180minute final. Exams will be cumulative and test your understanding of the subject material and your ability to analyze and formulate solutions to specific problems. The assignments are intended to assist you in the preparation for the exams, but note that exam questions are typically different from assignment questions. The exams are closed book. Electronic devices will not be permitted during examinations, with the exception of approved nonprogrammable calculators without communication functions. There will be no deferred midterms. 
Missed Components:  If assignments or the midterm exam cannot be completed for a justifiable reason, it may be possible to make alternative arrangements prior to the due date at the instructor’s discretion. If no such arrangements are made and the component is missed, a grade of 0 will be assigned, unless the student provides written documentation of circumstances beyond his or her control that prevented him or her from completing the assignment on time. (This documentation typically takes the form of a doctor’s note.) 
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