Welcome to the homepage for ECON200, Introductory Macroeconomics. Below you will find links to all class lectures, as well as some relevant videos and information I’ve created or pulled together from the internet. If you have anything you think would be worth adding, please let me know. You can find me in my office on: Monday 11:45am-2:15pm and Wednesday 11:45-2:15pm. Office hours are occasionally rescheduled due to conflicts. Please try to make an appointment before coming by.

Syllabus

Please register for FlatWorld using your JMU email address. If you need help, check out this document, and if you have any trouble, check out the chat bubble in the lower right hand corner of the site. They are relatively quick to respond to any issues.

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 $29.95. 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. There is also a paper version of this book available for $49.95. Links to relevant sections are provided throughout. 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?
    • 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

Lectures


Material for each Canvas Quiz is listed in order below. Required and suggested readings are listed below.

Lecture 0 (PPT): Math - Video Lecture

First Day Reading

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 will not go over this in class unless you have any questions. (Video-lectures: Stream in Canvas using your JMU login)

FlatWorld Assignment 0
CANVAS QUIZ 0 ON MATH REVIEW VIDEO, CHAPTER 2 AND APPENDICIES

Lecture 1 (PPT): The Central Idea

Reading

  • Link for podcast to Planet Money’s “Making Christmas More Joyful, and More Efficient” (download) discusses gift giving and how trade can create value out of nothing.
  • Link for videos and site on “Planet Money Makes a T-Shirt” which walks through the global supply chain of clothing, and helps put a human face on international trade.
  • 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” (download) 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.
  • Thomas Thwaites’ project on making a toaster from scratch became a TED talk that shows just how interdependent we all are when thinking about manufacturing something as simple as a toaster. (Link to TED talk)

Invention, Innovation, and Entrepreneurs

A Video to Summarize Credit and the Economy

FlatWorld Assignment 1
CANVAS QUIZ 1 ON THE CENTRAL IDEA

Lecture 2: Macroeconomics: The Big Picture

Reading

Example of Compound Growth Equations (i.e., the Present Value Formula)

FlatWorld Assignment 2
CANVAS QUIZ 2 ON MACROECONOMICS: THE BIG PICTURE

Lecture 3: Money, Banking & The Fed

Reading

HELP on Banks and Lending

Interesting Articles on The Financial Crisis of 2008

Lehman Day - 10th Anniversary!!!

FlatWorld Assignment 3
CANVAS QUIZ 3 ON MONEY, BANKING & THE FED

Midterm 1 up through here


Lecture 4: Firms, Financing & Corporate Governance

Reading

HELP on Bonds & Present Value

FlatWorld Assignment 4
CANVAS QUIZ 4 ON FIRMS & FINANCING

Note: I separated what was “Lecture 5” into two distinct parts.

  • The first part (Lecture 5a (update)) is focused on GDP estimation, deflators, and different types of GDP measurement
  • The second part (Lecture 5b (update)) is now just focused on CPI and real v. nominal adjustments
  • There is no separate FlatWorld for the Lecture 5b material
  • CQ6 is now just on Lecture 5b

Lecture 5a (update): GDP (Nominal and Real), Savings & Inflation (Measuring the Production, Income, and Spending of Nations)

Reading

Lecture 5b (update): CPI Inflation & Real Wages

Reading

HELP on GDP, Savings & Inflation

FlatWorld Assignment 5
CANVAS QUIZ 5 ON SAVINGS & INFLATION
CANVAS QUIZ 6 ON CPI INFLATION & REAL VALUES

Lecture 6: Supply & Demand

Reading

FlatWorld Assignment 6
CANVAS QUIZ 7 ON SUPPLY & DEMAND

Lecture 7: Market Failure, the Role of Government, & a Digression on International Trade

Reading

  • TW Chapter 13 (Public Goods, Externalities and the Role of Government)
  • TW Chapter 20.0-20.1 & 20.4-20.6 (International Trade)
  • CORE 8.8-8.10

HELP on Supply & Demand (Regulations)

FlatWorld Assignment 7
CANVAS QUIZ 7b ON MARKET FAILURE

Midterm 2 up through here


Lecture 8: Capital & Labor Markets

Reading

  • TW Chapters 7.1 and 7.2
  • TW Chapter 8
  • TW Chapter 9
  • CORE Units 9.0 & 9.2

HELP on Capital & Labor Markets and Unemployment

  • Code.org on the lack of coders in the U.S. (1min, 5min, 9min)
  • APM’s Marketplace story on how small businesses try to create jobs (download).
  • Planet Money story on unemployment and labor force participation (download).
FlatWorld Assignment 8
CANVAS QUIZ 8 ON CAPITAL & LABOR MARKETS

Lecture 9: Potential GDP & Economic Growth

Reading

  • TW Chapters 10 & 11

HELP on Economic Growth

FlatWorld Assignment 9
CANVAS QUIZ 9 ON ECONOMIC GROWTH

Lecture 10: Spending Allocation Model

Reading

FlatWorld Assignment 10
CANVAS QUIZ 10 ON THE SPENDING ALLOCATION MODEL

Lecture 11: Economic Fluctuations & Economic Fluctuations Model

Reading

  • TW Chapters 15 & 16

HELP on Economic Fluctuations Model

FlatWorld Assignment 11
CANVAS QUIZ 11 ON THE SPENDING ALLOCATION MODEL

Lecture 12: Fiscal & Monetary Policy

Reading

  • TW Chapters 17, 18 & 19

HELP on Fiscal & Monetary Policy

  • ShowMe: AD-AS1: What stabilization policy can do when there is a negative demand shock.
FlatWorld Assignment 12
CANVAS QUIZ 12 ON ECONOMIC FLUCTUATIONS, FISCAL & MONETARY POLICY

Lecture X: Taxes, Transfers & Income Distribution (Material has been bumped)

  • TW Chapter 12 (Taxes, Transfers & Income Distribution)

HELP with Tax Rates & Tables

Videos and Podcasts about Debt and Government Spending

FlatWorld Assignment X
CANVAS QUIZ X ON TAXES, TRANSFERS & INCOME DISTRIBUTION

VIDEOS

The Crisis of Credit Visualized

The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

Creative Destruction - Hyundai Commercial

Economics Themed Playlist