Econ 111 Principles of Macroeconomics

May 30th – July 6th M/W 1PM – 4:30PM at BUSN226

Instructor: Marius Jurgilas

Contact info: E-mail:  Office: Monteith 444 (by appointment)
Ph: 486 4443




M. Parkin “Macroeconomics” 7nd Edition  ISBN: 0-321-22658-5

Student responsibilities:

Student is responsible for any assignments given during the class. All assignments are due AT THE BEGINNING of the next class if not specified otherwise. It is crucial not to miss any classes.


Homework and in class tests – 20%

Midterm – 40%

Final exam – 40%


Class summary:

This is an introductory course to macroeconomics. It is structured as an overview of the major macroeconomic issues. In the first half of the course students will learn basic economic concepts, what constitutes GDP, why should we care about inflation and unemployment. In the second half students will learn the importance of money, how economists explain business cycle and what policy prescriptions can be inferred. We will end with a brief overview of international trade and concepts of international finance. After taking this course students should understand and be able to operate in macroeconomist vocabulary.


Class outline:


May 30 Introduction (There will be no class)


June 1 Overview of macroeconomics

Chapter 3-4


June 4 Measuring economic activity

Chapter 5-6

HW: Problem 1 and 8 on p.125-126 AND Problem 8 and 9 on p. 147
Answer key

June 6 Economy in the long run 1

Chapter 7

HW: Problem 2 and 10 on p.171-172
Answer key

June 11 Economy in the long run 2



June 13 Midterm


June 18

Chapter 8-9

June 20 Intro to short run

Chapter 10-11

Practice test

June 22 Make up class for May 30

Economy in the short run

Chapter 12-13

HW: Problem 8 on p. 255 AND Problem 10 on p. 276
Answer key

June 25 Business cycle

Chapter 14


June 27 Fiscal and Monetary policy

Chapter 15-16

HW: Problem 2 and 10 p.385-386 AND "Critical thinking" problem #2 on p.408
Answer key

July 2 Global economy

Chapter 17-18 (overview)



2003 Final with answers
2004 Final with answers


July 6 Final exam