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COURSE NAME: "Principles of Macroeconomics "
SEMESTER & YEAR: Fall 2017

INSTRUCTOR: Simona Costagli
EMAIL: [email protected]
HOURS: MW 6:00-7:15 PM
PREREQUISITES: Prerequisite: MA 100 or MA 101; Recommended: EN 105

An introduction to the basic principles of the macro economy, such as national income accounting, determination of national income, business cycles, inflation, unemployment, fiscal and monetary policy, macroeconomics in the open economy, and economic growth.

 The course will cover the following topics in macroeconomics: comparative advantage and trade, supply and demand, the data of macroeconomics - measuring inflation and unemployment, economic growth, the financial system, basics of finance, money, banking and central banks, inflation, exchange rates, balance of payments, aggregate supply and demand, business cycles, monetary and fiscal policy, and the inflation-unemployment tradeoff. 


The course also links the economic theory to current issues and open questions. A focus will be devoted to the current situation in the Euro Area, the possible consequences of the “Brexit” on the European Union economy, the role of emerging countries in the world economy, the possible consequences of a Chinese slowdown on the world economy , the effects of the FED and European Central Bank “Quantitative easing” and on the Euro area and the US economies.


Students are strongly encouraged to read articles from “The Economist” (available at the University’s library), and the “Financial Times”, as well as to follow the daily news on the main economic events.

The instructor will hand out (or direct students to) additional readings on macroeconomic issues.

Materials on the course will be posted on myjcu web page.

·           Understand of basic macroeconomic concepts and how to use them to construct and follow a critical argument

·           Learn to read data and evaluate sources of economic data

·           Write clearly and carefully

Locate data sources and prepare visual presentations of an economic topic that demonstrates ability to properly document materials and convey information clearly and ethically 
Book TitleAuthorPublisherISBN numberLibrary Call NumberComments
MacroeconomicsMankiw and TaylorSouth Western Cengage13 978 1 4080 4392 9 Any edition will work

Exam 1 20%
Exam 2 20%
Project presentationThe project assigned has the objective to: • find and document information; • use information that is relevant to illustrating the question/issue of concern; • present information in tables, charts, graphs that are visually easy to understand and properly documented; • test the student’s ability to summarize  and clearly present  the key elements of an issue in an oral presentation, so also showing that he/she has understood the underlying details of the issue; • develop an outline for a lecture; • make appropriate use of empirical information Provide a 7-10 Power Point slides visual presentation, lecture outline, and bibliography. The issue will be decided by lot from a list provided. 15%
Class participation/debates 5%
Final Exam (comprehensive) 40%

AWork of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the cou
BThis is highly competent level of performance and directly addresses the question or problem raised.There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.
CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.
DThis level of performances demonstrates that the student lacks a coherent grasp of the material.Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail.
FThis work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.

You cannot make-up a major exam (midterm or final) without the permission of the Dean’s Office. The Dean’s Office will grant such permission only when the absence was caused by a serious impediment, such as a documented illness, hospitalization or death in the immediate family (in which you must attend the funeral) or other situations of similar gravity. Absences due to other meaningful conflicts, such as job interviews, family celebrations, travel difficulties, student misunderstandings or personal convenience, will not be excused. Students who will be absent from a major exam must notify the Dean’s Office prior to that exam. Absences from class due to the observance of a religious holiday will normally be excused. Individual students who will have to miss class to observe a religious holiday should notify the instructor by the end of the Add/Drop period to make prior arrangements for making up any work that will be missed. The final exam period runs until ____________
As stated in the university catalog, any student who commits an act of academic dishonesty will receive a failing grade on the work in which the dishonesty occurred. In addition, acts of academic dishonesty, irrespective of the weight of the assignment, may result in the student receiving a failing grade in the course. Instances of academic dishonesty will be reported to the Dean of Academic Affairs. A student who is reported twice for academic dishonesty is subject to summary dismissal from the University. In such a case, the Academic Council will then make a recommendation to the President, who will make the final decision.
John Cabot University does not discriminate on the basis of disability or handicap. Students with approved accommodations must inform their professors at the beginning of the term. Please see the website for the complete policy.


Week 1:
Aug 28- Introduction

Aug 30 - Chapter 3 Interdependence and the Gains from Trade

Week 2: 
Sep 4 - Chapter 4 The Market Forces of Supply and Demand

Sep 6 - Chapter 5 Measuring a Nation's Income

 Week 3:
Sep 11 - Chapter 5 Measuring a Nation's Income

Sep 13 - Chapter 6 Measuring the Cost of Living

Week 4: 
Sep 18 - Chapter 7 Production and Growth

Sep 20 - Chapter 8 Saving, Investment, and the Financial System
Project assignments

Sep 22 (make up Nov 1) - Review (1-2-3-4-5-6-7-8)


Week 5:
Sep 25 - Exam 1: Chapters 1, 2, 3, 4, 5, 6, 7, 8

Sep 27 - Chapter 9 The Basic Tools of Finance to include commercial banking

Week 6:
Oct 2 - Chapter 10 Unemployment

Oct 4 - Chapter 11 The Monetary System

Week 7:
Oct 9 - Chapter 12 Money, Growth, and Inflation

Oct 11 - Project presentation


Week 8:
Oct 16 - Project presentation

Oct 18 - Project presentation

Week 9:
Oct 23 - Chapter 13 Open-Economy Macroeconomics: Basic Concepts

Oct 25 – Chapter 14 – A Macroeconomic Theory of the Open Economy

Week 10:

Oct 30 – Review (9, 10, 11, 12, 13, 14)

  Week 11: 
Nov 6- Exam 2: Chapters 9, 10, 11, 12, 13, 14

Nov 8 - Chapter 16 Aggregate Demand and Supply


Week 12:
Nov 13 – Chapter 17 The Influence of Monetary and Fiscal Policy on Aggregate Demand

Nov 15 - Chapter 17 The Influence of Monetary and Fiscal Policy on Aggregate Demand

Week 13: 

Nov 20 - Chapter 18 Short Run Trade-Off Between Inflation and Unemployment

Nov 22 - Chapter 19 The Financial Crisis


Week 14:
Nov 27 - Chapter 20 Common Currency Areas and the Monetary Union

Nov 29 - Review

Final exam: Comprehensive. See the University schedule for date and time