Archive Page for ECON200
Link to course on Canvas
Syllabus
Note on textbooks: This semester we are using two main textbooks. First, we are using a customized online textbook by Taylor and Weerapana available through FlatWorld for $35.95. Use your DUKES email to register. At the FlatWorld site, you can enter codes you purchase from the bookstore, as well as choose if you want additional versions of the textbook (downloads or paper). We are also using the CORE Team Econ textbook. This is free, but you have to register. While it might be confusing, I am doing this in an effort to minimize costs to you.
Frequently Asked Questions and Answers:
- When is my midterm/Canvas Quiz/FlatWorld assignment due?
- Look at the Canvas calendar. All dates are posted there.
- When is my final exam?
- Do NOT schedule your trip home before your scheduled final exam on December 12th. Otherwise, search Google for "JMU Final Exam Schedule," or if you have trouble with that website, just click here or here for a schedule.
- Where is the final exam?
- In our regular classroom.
- Where do I find PowerPoint slides?
- Here. They are also on Canvas in the "Files-PowerPoint" folder.
- When are office hours?
- Look in the syllabus, or move your gaze up a couple of inches.
Tutoring:
- Tutors are privately hired and will often be happy to work with groups of students.
- Hire tutors early in the semester! Tutors are other JMU students who often get busy with their own work!
- A list of available tutors can be found at the bottom of this page
- Madison Economics Club will provide *FREE* tutoring for ECON 200 & ECON 201 in location and time TBD.
Lectures
Material for each Canvas Quiz is listed in order below. Required and suggested readings are listed below.
Unit 0
Math Review: (PPT) - Full Video Lecture stream using your JMU login. Note, you should watch them on Canvas Studio first. These links are to the full video.
First Day Reading
- “Planet Money Makes a T-Shirt” which walks through the global supply chain of clothing, and helps put a human face on international trade.
- Taylor & Weerapana (TW) Chapter 1
- Taylor & Weerapana Chapter 1: Appendix A, B & C
Lecture 0 includes some algebra, a little geometry, and some useful equations you will need to know and understand to succeed in this course. I have put together a post that describes the math you need to succeed here, as well as numerous ways to practice.
FlatWorld Assignment 0
CANVAS QUIZ 0 ON MATH REVIEW VIDEO, CHAPTER 1 AND APPENDICIES
Unit 1
The Central Idea: (PPT) - Full Video Lecture stream using your JMU login. Note, you should watch them on Canvas Studio first. These links are to the full video.
Reading
- Taylor & Weerapana (TW) Chapter 2
- CORE Unit 1 with particular focus on:
- CORE Unit 1.6,
- CORE Unit 1.8-1.9,
- CORE Unit 2.2
- CORE Unit 3.0-3.1
- Planet Money podcast: The most important part starts at minute 7:00, but you should listen to entire podcast for context.
Interesting Links on Trade, Gifts, and Production (You are not required to view these links for any lecture unless asked - they are for more depth)
- Link for podcast to Planet Money’s “Making Christmas More Joyful, and More Efficient” discusses gift giving and how trade can create value out of nothing.
- Freakonomics’ Stephen Dubner’s podcast on gift giving. Steven Levitt gives a not so dour look at gift-giving, and Justin Wolfers comments.
- Planet Money’s “Cappuccino Reconsidered” discusses trade and the market economy at around the 6:00 mark. Tim Harford makes the point that economists have failed to understand the role of complexity in the market economy.
Video Series: Complexity of the Economy
- These videos exemplify the difficulty in truly understanding how anything is made in our global economy. You may be asked to watch one or more of these at some point this semester.
Invention, Innovation, and Entrepreneurs
A Video to Summarize Credit and the Economy
- Credit and the Economic Machine (by Ray Dalio). The full site is available at http://economicprinciples.org. Ray Dalio is one of the 100 richest people in the world or close to it. He has helped put together an eBook and video on the importance of credit in the economy.
FlatWorld Assignment 1
CANVAS QUIZ 1 ON THE CENTRAL IDEA
Unit 2
Macroeconomics-The Big Picture: (PPT) - Full Video Lecture stream using your JMU login. Note, you should watch them on Canvas Studio first. These links are to the full video.
- At the 31:45 mark of the video, you should download the file found at the link below
- Google Sheets: Gini Coefficient and Excel version
Reading
- TW Chapter 3
- CORE Unit 1 with particular focus on:
- CORE Units 1.9 & 1.10
- CORE Unit 13.8 (up to GDP deflator)
- CORE Unit 5.12
- CORE Units 9.0 & 9.2
HELP on Compound Growth Equations (i.e., the Present Value Formula) and Gini Coefficients
- Excel Doc: Single investment
- Excel Doc: Multiple investments
- Google Sheets: Gini Coefficient and Excel version
- Camtasia: Gini Calculation. There is no link embedded in the second link here, but the file you need is from the previous bullet point.
HELP on Capital & Labor Markets and Unemployment
- ShowMe: Working with labor force statistics equations.
- Sheets: Creating and solving labor force statistics equations
- Camtasia: How do you work with Okun’s Law?
Interesting Links on Big Picture Macro
- Effect of COVID-19 on GDP by HBR
- Unemployment Rates (FRED)
- Inflation Rates (FRED)
- Income Inequality by Visualizing Economics
- Deficits and Government Spending
FlatWorld Assignment 2
CANVAS QUIZ 2 ON MACROECONOMICS: THE BIG PICTURE
Unit 3
Money, Banking & The Fed: (PPT)- Full Video Lecture stream in Canvas using your JMU login. Note, you should watch them on Canvas Studio first. These links are to the full video.
Reading
- TW Chapter 4
- CORE 10.0-10.1 & 10.7-10.13
- An Alternative Approach please read!
HELP on Banks and Lending
- Camtasia: Money Multiplier
- Camtasia: Capital Constraints
- ShowMe: Multiple Deposit Creation.
- Educreations: Long Run and Short Run Balance Sheets
- ShowMe: Capital Constrained Banking.
- PDF Doc: Balance Sheet Practice Sheet
Interesting Links on Money
- Invention of money. NPR “This American Life”
- Giant stone disk money. NPR “Planet Money” about the island of Yap’s unique money.
Lehman Collapse, the Financial Crisis, and the Great Recession (10 Year Update)
- Inside the Meltdown is a great video summarizing what happened in 2007-2009. See some example questions here
- WSJ on the 10 years since the crisis
- Lehman changes everything… or nothing? is an opinion article about the changes to Wall Street.
- Marketplace podcast on the Lehman Bankruptcy
FlatWorld Assignment 3
CANVAS QUIZ 3 ON MONEY, BANKING & THE FED
- Google Doc: Some math practice
Unit 4
Firms, Financing & Corporate Governance: (PPT)- Full Video Lecture stream in Canvas using your JMU login. Note, you should watch them on Canvas Studio first. These links are to the full video.
Reading
HELP on Bonds & Present Value
- $PV=\frac{FV}{(1+i)^n}$
- $\text{Price}=\frac{\text{Div}_n}{i-g}$
- $\text{Div Yield}=100\times \frac{\text{Div}}{\text{Price}}$
- Excel Spreadsheet: Present Value Worksheet: Microsoft Excel.
- Google Doc: Present Value Worksheet: Google Doc, (Login to Google to “Save a copy” or Download to Excel)
- Educreations: Bond Pricing and Returns. (Must be logged in as a JMU student)
- Camtasia: Bond Pricing and Returns
Interesting Links on Bonds & Present Value
- Google Domestic Trends
- Dow Jones Industrial Average Components
- Problems with using the Dow Jones Industrial Average by Planet Money
- Issuing new shares of stock in Social Network
FlatWorld Assignment 4
CANVAS QUIZ 4 ON FIRMS & FINANCING
Unit 5
GDP (Nominal and Real), Savings & Inflation (Measuring the Production, Income, and Spending of Nations): (PPT) - Full Video Lecture stream in Canvas using your JMU login. Note, you should watch them on Canvas Studio first. These links are to the full video.
Reading
- TW Chapter 6
- CORE 13.8
HELP on GDP, Savings & Inflation (also for Unit 6)
- Educreations: Real GDP, Nominal GDP, and Inflation (CPI).
- Google Docs: Real GDP, Nominal GDP, Inflation (CPI), Unemployment, Indexing, and Adjustment. (Login to Google to “Save a copy” or Download to Excel)
- Educreations: Inflation indexing.
- Table of data from class
- Nominal v. Real practice from class
- The link for Canvas questions (associated slides) (link for answers)
Interesting Links on GDP, Savings & Inflation
- Risk of recession. Some insight as to who calls the beginning and end to recessions.
- Inequality, savings, and expenditures. Keeping up with the Joneses. A blog, so consider the source.
- When will China surpass America? How does their prediction look?
- International GDP in US Dollars, and Per Capita
- PBS Frontline “College Inc.” which discusses the move towards private education, and the implications that our deteriorating education system have on our ability to grow.
FlatWorld Assignment 5
CANVAS QUIZ 5 ON SAVINGS & INFLATION
Unit 6
CPI Inflation & Real Wages: (PPT) - Full Video Lecture stream in Canvas using your JMU login. Note, you should watch them on Canvas Studio first. These links are to the full video.
Reading
- TW Chapter 6.3
- TW Chapter 7.1
- CORE 13.8
- Handout on Wage Adjustments
FlatWorld Assignment 6
CANVAS QUIZ 6 ON CPI INFLATION & REAL VALUES
Unit 7
Supply & Demand: (PPT) - Full Video Lecture stream in Canvas using your JMU login. Note, you should watch them on Canvas Studio first. These links are to the full video.
Reading
FlatWorld Assignment 7
CANVAS QUIZ 7 ON SUPPLY & DEMAND
Unit 8
Market Failure, the Role of Government, & a Digression on International Trade: (PPT) - Full Video Lecture stream in Canvas using your JMU login. Note, you should watch them on Canvas Studio first. These links are to the full video.
Reading
- TW Chapter 8.5 (Interference with Market Prices)
- TW Chapter 9 (Public Goods, Externalities and the Role of Government)
- TW Chapter 19.0-19.1 & 19.4-19.6 (International Trade)
- CORE 12
HELP on Supply & Demand (Regulations)
- Educreations: Price Floors and Ceilings (Must be logged in as a JMU student)
Interesting Links on Market Failure and the Role of Government
- Keep your government hands off my Medicare!
- Public Goods Experiment.
- Medicaid and Medicare “Dual Eligibles” study.
FlatWorld Assignment 8
CANVAS QUIZ 8 ON MARKET FAILURE
Unit 9
Capital & Labor Markets: (PPT) - Full Video Lecture stream in Canvas using your JMU login. Note, you should watch them on Canvas Studio first. These links are to the full video.
Reading
- TW Chapters 5.1 and 5.2
- TW Chapter 7
Links on Capital & Labor Markets and Unemployment
FlatWorld Assignment 9
CANVAS QUIZ 9 ON CAPITAL & LABOR MARKETS
Unit 10
Potential GDP & Economic Growth: (PPT) - Full Video Lecture stream in Canvas using your JMU login. Note, you should watch them on Canvas Studio first. These links are to the full video.
Reading
- TW Chapters 11 & 12
HELP on Economic Growth
- ShowMe: Production Functions
- Google Docs: Production Function Spreadsheets
FlatWorld Assignment 10
CANVAS QUIZ 10 ON ECONOMIC GROWTH
Unit 11
Spending Allocation Model: (PPT) - Full Video Lecture stream in Canvas using your JMU login. Note, you should watch them on Canvas Studio first. These links are to the full video.
Reading
- TW Chapter 13
- CORE 13.0-13.4
FlatWorld Assignment 11
CANVAS QUIZ 11 ON THE SPENDING ALLOCATION MODEL
Unit 12
Economic Fluctuations & Economic Fluctuations Model: (PPT) - Full Video Lecture stream in Canvas using your JMU login. Note, you should watch them on Canvas Studio first. These links are to the full video.
Reading
- TW Chapters 14 & 15
HELP on Economic Fluctuations Model
- Google Docs: Practice Problems with answers. (Login to Google to “Save a copy” or Download to Excel)
- Educreations: AE Model
- Keynesian Cross Diagram from the Wolfram Demonstrations Project by Fiona Maclachlan
- Google Docs: AE Model without “r”. (Login to Google to “Save a copy” or Download to Excel)