Success Residency in Economics: Emphasis on Macroeconomics
SYLLABUS
Executive MBA Program
Sheldon B. Lubar School of Business
University of Wisconsin – Milwaukee
September 2017
Instructor: Richard D. Marcus, Ph.D., Associate Professor and Chair, Lubar School of Business Executive Committee
Office: Business Building S430F
Telephone: 414-229-4103 (faculty office) or 414-228-7731 (home) or 414-510-7731 (cell)
E-mail: marcus@uwm.edu
Dick’s HOMEPAGE: https://sites.uwm.edu/marcus/
Dick’s Lubar School page:http://uwm.edu/business/people/marcus-richard-d/
Dick’s EMBA bio page: EMBASuccess-Bio2017-12batdb
Textbook: William Baumol and Alan Blinder, Macroeconomics: Principles and Policy, 13th Edition, Business Higher Education, ISBN-10:1-305-28060-1, 2016. In addition, an EMBA notebook of presentation slides will be available at the first day of class.
Objective: This short Economics Success Residency emphasizes the key ideas of macroeconomics. My objective will be to provide insights into the workings of an economy that are likely to have a lasting significance. Introduce concepts of aggregate demand and aggregate supply, money creation, the Federal Reserve System, business panics and cycles, and the macroeconomic policy debate on the best way to promote sustainable growth in an economy. Given the unprecedented trillions in Quantitative Easing from the Federal Reserve and our ever growing federal deficit spending, more than ever we need to understand what policies encourage economic growth and full employment.
Test: Each class there will be a daily assessment of learning objectives for that day. Each assessment will be short answer essays or problems done in groups of 2 or 3 students turning in one group answer to an economic problem. There will be no final exam.
Special Needs: If anyone has need for note-taking or test-taking assistance, please feel free to discuss this with me early in the session.
Schedule: There will be four Success Residency class meetings involving economics. They are listed below.
Schedule
Welcome Reception – Tuesday, September 5, in the Golda Meir Library fourth floor Conference Center, 5-7pm.
Class # 1 – Demand, Supply, the Business Cycle, and Taking the Temperature of the Economy – Text: Chapters 1-5 on Friday, September 8 (10:45 AM – 1:15 PM) including a 15 minute assessment #1.
Class # 2 – Aggregate Demand, Aggregate Supply, and Fiscal Policy – Text: Chapters 6-9 on Saturday, September 16 (10:45 AM – 1:15 PM) including a 15 minute assessment #2.
Class # 3 – Fiscal and Monetary Policy – Text: Chapters 10-13 on Saturday, September 23 (1-3:30 PM) including a 15 minute assessment #3.
Class # 4 – Quantitative Easing in the US and Abroad, the Great Recession, the History of Money, and the Phillips Curve – Text: Chapters 14-17 on Saturday, September 30 (8-10:30 AM) including a 15 minute assessment #4.