Growth and Fluctuations of Japanese Economy
Spring 2006
Syllabus
2006/06/23
Ryoichi Imai
International Student Center, Kyushu University
imryoichi@isc.kyushu-u.ac.jp
http://homepage3.nifty.com/ronten/JTWhome.htm
Contents
The course is designed to provide some background knowledge to help understanding the Japanese economy. Students will learn the essence of macroeconomics, and study how to apply the economic theory to the real economy. In this semester, we will focus on the macroeconomics of an open economy, with international trade and capital flow across national borders.
This course is a continuation of "Macroeconomics and Japan" of the fall semester. The course attendants are expected to have basic knowledge of macroeconomics of a closed economy at undergraduate level. That is, some knowledge of the 45 degree analysis (Keynesian Cross), the IS-LM analysis, and the AD-AS analysis, is essential.
The course will start with a series of lectures on the international macroeconomics, which is an open-economy version of the IS-LM model and the AD-AS model, in order to help students to familiarize themselves with the course contents.
Organization, Attendance, and Other Requirements
Lecture notes are to be provided by the instructor. However the following book is used for reference.
Mankiw, Gregory [2002] Macroeconomics, 5th ed. Worth Publishers.
The class starts with a series of lecture given by the instructor. Later the students present some selected chapters of the textbook in the class. Each course attendant is required to make at least ONE oral presentation of one chapter, or selected exercises in the textbook. The presenter must make a set of PowerPoint Slides. There is one final examination, but no written report.
The course attendants are expected to have basic knowledge of macroeconomics of a closed economy at undergraduate level. That is, some knowledge of the 45 degree analysis (Keynesian Cross), the IS-LM analysis, and the AD-AS analysis, is essential.
Class Attendance and Discussion 10%
Presentation 40%
Final Examination (or Report) 50%
Schedule and Readings (subject to Change)
1. (4/5) Lecture: Aggregate Demand in the Open Economy - Ch.12 of Mankiw
2. (4/12) Lecture: Aggregate Demand in the Open Economy - Ch.12 of Mankiw
3. (4/19) Lecture: Aggregate Demand in the Open Economy - Ch.12 of Mankiw
4. (4/26) Lecture: Aggregate Demand in the Open Economy - Ch.12 of Mankiw
5. (5/10) Lecture: Takatoshi Ito (2004) Exchange rate regimes and monetary policy cooperation: Lessons from East Asia and Latin America, Japanese Economic Review, 55(3), 240-266, available on-line at Kyushu University Library.
6. (5/17) Lecture: Toshiaki Tachibanaki (2006): Inequality and Poverty in Japan, Japanese Economic Review, 57(1), 1-27, available on-line at Kyushu University Library.
7. (5/24) Students' Presentation: Stabilization Policy- Ch.14 of Mankiw
Hailie, Gang
8 (5/31) Students' Presentation:
Government Debt - Ch.15 of Mankiw
Jun, Hailie, Gang
9: (6/7) Consumption - Ch.16 of Mankiw
Yohei, David, Hosang
10. (6/14) Students' Presentation: Investment - Ch.17 of Mankiw
Jun, Joe, Wataru, Hosang
11. (6/21) Students' Presentation: Money Supply and Money Demand - Ch.18 of Mankiw
Amelie, Wataru, Yohei
12. (6/28) Students' Presentation: Advances in Business Cycle Theory - Ch.19 of Mankiw
Amelie, Joe, David
13: (7/5) Lecture: Inequality and Poverty in Japan
Take-home exam to be handed out. The exam is to be based on the materials of Ch. 12 and the lecture notes.
14. (7/12) Students' Presentation: The Bubble Burst and Recession - Ch.13 from Kenichi OHNO: The Economic Development of Japan, GRIPS.
David?
15. (7/21) Deadline for the Take-home exam.