1. ECON Macroeconomics 1

2. Lecturer Vincent Hogan D205 JHN
Office Hours: Tuesday 11–12 and by appointment

3. Overview This course will build on ECON 10020 Many similar themes
But more rigorous treatment

4. Learning Objectives
To understand the workings of the modern macroeconomy in the short run
We will place emphasis on how a government can deal with economic shocks especially those that effect a small open economy
We will also emphasize the role of expectations, flexibility & the time frame in macroeconomics
I will provided empirical evidence to back up (or refute) the conclusions of the models

5. Reading Material Any Macro book will do.
Notes will be posted on Blog (see below)
Main Text: Mankiw, Macroeconomics, Macmillan International 8th edition
Any Macro book will do.
Robert J Gordon, Macroeconomics, Pearson International 11th edn;
Blanchard etc
There should be lots of second hand books around

6. Pop Economics Some “pop economics” books are also very useful
When Markets Collide: Investment Strategies for the Age of Global Economic Change by Mohamed El-Erian 
The Return of Depression Economics and the Crisis of 2008 by Paul Krugman
Irrational Exuberance - by Robert J. Shiller
Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay
Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism by George A. Akerlof and Robert J. Shiller
Available on Amazon or audible or iTunes

7. Websites There are a couple of useful blogs
The following web sites are useful for data:
Online access via the UCD library to OECD and IMF databases

8. Course Website This blog will be used to present the course material:
Course website (Vincenthogan.ie)
Old version of course in on blackboard
This blog will be used to present the course material:
Notes will be posted before each class in powerpoint and pdf
exercises will be posted regularly
Audio files of each lecture
extra readings if applicable
announcements relating to the class.

9. Outline To be amended as necessary
What is the Point of Macro and how do we do it?
The Closed Economy in the Short Run (IS-LM Model)
The Open Economy in the Short Run
The Supply Side: how is policy affected by peoples expectations?
Inflation and Unemployment: is there a Trade-off?
Why is there Unemployment?
What determines consumption?
Government Debt
What determines Investment?
Economic Policy and Politics

10. Assessment The main Exam in May will be worth 70%
There will be a mid-term assessment (MCQ) in Feb which will count for 30%