The document provides the schedule and content for a macroeconomics course at SMK College of Social Sciences in spring 2010. It includes the following key information: 1) The course contains quizzes, midterm and final exams covering macroeconomic principles from the textbook by Gregory Mankiw. 2) Assignment deadlines include a June 15th deadline to submit homework problems and essays analyzing assigned economic papers and documents. 3) Reading materials include the textbook chapters, outside articles, and a film students must analyze in writing. 4) The schedule is adapted for one student who already took the final exam.

1. SMK-College of Social Sciences
Ulonų g. 5, LT.08240
Vilnius-LITHUANIA
www.smk.lt
COLLEGE OF SOCIAL SCIENCES
Vilnius Branch
MACROECONOMICS (SCHEDULE)
SPRING SEMESTER 2010
( updated 26 MAY 2010)
DAY CONTENTS
9 MARCH FIRST QUIZ
Contents : G. Mankiw book “Principles of Economics”+ Problems (developed in class)
FIRST QUIZ We are following some chapters of the book “Mathematics for Economics and Business” by Ian
Jacques Prentice Hall 5th edition. The lecturer will distribute in class some sets of photocopies
(chapters of this book)
C H A P T E R S G. MANKIW BOOK .
22) Measuring nation income
23) Measuring cost of living
24 ) Production & Growth
25) Saving, investment and the financial system
20 APRIL MID-TERM EXAM
(Tuesday) Contents : G. Mankiw book “Principles of Economics” Contents : G. Mankiw book “Principles of
Economics”+ Problems
MID-TERM
C H A P T E R S G. MANKIW BOOK .
EXAM
22) Measuring nation income
23) Measuring cost of living
24) Production & Growth
25) Saving, investment and the financial system
26) Unemployment
27) Monetary system
27) The basic tools of finance (this chapter is not included in the old version of the book).
Th Lecturer will distribute photocopies of this chapter (that is new in the new edition of
G.Mankiw book)
20 MAY In-class presentation. The student will have to prepare an in-class presentation. And to
(Thursday write an essay. They will work in couples. Information and instructions about this work will
) be given by the Lecturer.
(This part is cancelled taking into account the lack of time )
IN CLASS
PRESENTA
TION
1

2. SMK-College of Social Sciences
Ulonų g. 5, LT.08240
Vilnius-LITHUANIA
www.smk.lt
3 JUNE FINAL EXAM
(Thursday
) Contents : G. Mankiw book “Principles of Economics” Contents : G. Mankiw book “Principles of
Economics”+ Problems
Contents: (title and number of the chapters of G.Mankiw book)
First part:
FINAL
22) Measuring nation income
EXAM 23) Measuring cost of living
24) Production & Growth
25) Saving, investment and the financial system
26) Unemployment
27) Monetary system
27) The basic tools of finance
Second part: In green the chapters that have been dropped.
28) Money growth and inflation
29) Open-economy macroeconomics: basic concepts
30) A macroeconomic theory of the open economy
20) Income inequality and poverty (dropped)
19) Earnings and discrimination (dropped)
31) Aggregate demand and aggregate supply
32) The influence of monetary and fiscal policy on aggregate demand
34) Five debates over macroeconomic policy
The students that passed the mid-term exam only will have to answer the questions
related to the second part.
The chapters in green are dropped. Some other chapters can be dropped as well. This
decision can be taken by the Lecturer. And it will be announced with time enough for
preparing the final exam..
DEAD-
LINE FOR
THE Homework: (the set of problems can be downloaded from my blog
http://mpuertas.blogspot.com. Click on the label SMK_MACRO2010). I have sent as well
DELIVERY
the problems by ordinary e-mail.
OF
2

3. SMK-College of Social Sciences
Ulonų g. 5, LT.08240
Vilnius-LITHUANIA
www.smk.lt
HOMEWO a) Sets of problems: check at the blog http://mpuertas.blogspot.com. Click on the
RK label SMK_MACRO2010 (that is in the right side of the blog)
15th of And solve the following problems :
JUNE
2010 1rst Set of Problems: 7,8,9,11
(TUESDAY) 2ond Set of Problems: 8,9,10,11,12,13,14,18,19,20
b) Readings:
1-You have one reading that was distributed in class ( “Glimpses of World History” by J.
Nehru). Answer the questions that you will find in the blog .
2- I have sent you a folder with the following readings:
Barro, Robert : “Quantity and quality of Economic growth” Central Bank of Chile
working papers. July 2002
Blanchard,Olivier: “Adjustment within the Euro. The difficult case of Portugal” February
23, 2006
De Grauwe, Paul et al : “Is inflation always and everywhere a monetary
phenomenon?” 2005
Florida, Richard et al. : “There goes the neighborhood: How and why bohemians,
artists and gays effect regional housing values” March 2006
Florida, Richard et al: “Urban density, creativity and innovation” May 2007
Wyplosz, Charles: “European monetary union: the dark sides of a major success”
Wyplosz Charles: “Central bank objectives” 2006
The papers have been written by eminent economists. Specialists in their area.
Choose only 2 of them. One of the two readings by Richard Florida has to be chosen.
You have to write an essay about the two papers you have chosen. (not less than 3
pages and no more than 8 pages). The essay is a personal reflection about the
contents of the paper. Explain the most important ideas that you found at the
papers. Why do you think the papers you have chosen are important for? Which part
of the paper you liked the most?
3- Economic Outlook DNB Nord Bankas. Answer the questions that you will find in the
blog. You can download the document from my blog http://mpuertas.blogspot.com
4-Movie: “Capitalism: a love story” by Michael Moore. Answer the following questions:
3

4. SMK-College of Social Sciences
Ulonų g. 5, LT.08240
Vilnius-LITHUANIA
www.smk.lt
a) Main ideas of the movie.
b) According to the film maker, Michael Moore, is compatible the democracy with
the capitalism.
c) What does it mean “capitalism”? And “market economy”?
d) According to Michael Moore (and the priests that are interviewed at the movie) is
compatible the message of Jesus Christ with the so-called “free market”
e) What did provoke the financial crisis of 2008?
f) According to Michael Moore, do you think that there is a close relationship
between the American military industry (that is the most important industry in
United States) and the expansion of NATO? Do you agree with Michael Moore
when he suggests that United States needs the war to maintain their model of
society and their model of economic growth?
g) Who was Franklin Delano Roosevelt? Why he did appear at the end of the movie
of Moore? I expect no more than 3 or 4 pages
All the homework has to be hand in by 15th of June (by mail or hard-copy). You can hand
in the homework in the Academic Department of the College.
We will have one special lecture: “Questions & Answer Seminar”: “Mutual funds and
Lithuanian financial system. The days will be announced in advance by the Lecturer. (this
special lecture has been cancelled)
Some adaptations:
The student Martynas S. already tood the final exam . He will have to hand in
the homework by 15th of June.
*J M. P_U_E_R_ T_A_ S,
Lecturer
4