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JOHN CABOT UNIVERSITY
COURSE CODE: "EC 202-1"
COURSE NAME: "Principles of Macroeconomics"
SEMESTER & YEAR:
Spring 2018
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SYLLABUS
INSTRUCTOR:
Mary Merva
EMAIL: [email protected]
HOURS:
TTH 8:30-9:45 AM
TOTAL NO. OF CONTACT HOURS:
45
CREDITS:
3
PREREQUISITES:
Prerequisite: MA 100 or MA 101; Recommended: EN 105
OFFICE HOURS:
8:00-8:30 before class or by appointment
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COURSE DESCRIPTION:
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.
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SUMMARY OF COURSE CONTENT:
The course will cover the following topics in macroeconomics: comparative advantage and trade, supply and demand, the data of macroeconomics, economic growth, unemployment, the financial system, basics of finance, money, banking and central banks, inflation, loanable funds, exchange rates, balance of payments, aggregate supply and demand, business cycles, monetary and fiscal policy, and the inflation-unemployment trade-off. The course focus is on critical-thinking and analyses of economic issues.
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LEARNING OUTCOMES:
* Understand basic macroeconomic tools and concepts so as to use them to construct critical arguments regarding economic issues
* Learn to read data and evaluate sources of economic data
* Develop applications of mathematical tools
* Write and speak clearly and carefully so as to better articulate arguments
* Locate data sources and prepare visual presentations to learn how to properly document materials and convey information clearly and ethically
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TEXTBOOK:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments | Format | Local Bookstore | Online Purchase |
| Brief Principles of Macroeconomics | Gregory Mankiw | Southwestern Cengage | 13-978-0-324-60087-2 | | Any edition will do. | | | |
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REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
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GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| First Exam | Short problems and essays | 20% |
| Second Exam | Short problems and essays | 20% |
| Third Exam | Short problems and essays | 20% |
| Final exam | Comprehensive essays plus short problems | 30% |
| Assignment using empirical data | Students will work with Penn World Table data on a selected country and produce graphs on key economic variables as well as write up a short summary of their findings. The specific assignment will be handed out in class. | 10% |
-ASSESSMENT CRITERIA:
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 course. 90-93: A-; 94 and higher: A
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. 80-83: B-; 84-86: B; 87-89: B+
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. 70-73: C-; 74-76: C; 77-79 C+
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. 60-63: D-; 64-67: D; 68-69: D+
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. Below 60 is failing.
-ATTENDANCE REQUIREMENTS:
As the final exam is comprehensive, students who miss 4 classes or fewer (excused or unexcused) will have the option to drop their lowest midterm exam grade and move that weight to the final. Students who do not meet the attendance requirements will not have this option.
Students who are late to class (arriving after the attendance call) are counted as not attending.
Students are expected to have read the chapters before class and to participate in the lectures if they wish to learn the material well.
No electronic devices are allowed in class. No eating and drinking during class.
Bring a calculator to class.
Please note that we will not have class on Tuesday, April 10th. In order to avoid scheduling a Friday make-up, we will meet at 8:15 during weeks 6, 7, and 8 instead of 8:30.
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ACADEMIC HONESTY
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.
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STUDENTS WITH LEARNING OR OTHER DISABILITIES
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.
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SCHEDULE
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Week 1: January 16, 18
Chapter 1 Ten Principles of Economics
Chapter 2 Thinking Like an Economist
Chapter 3 Interdependence and the Gains from Trade
Week 2: January 23, 25
Chapter 3 (cont)
Chapter 4 The Market Forces of Supply and Demand
Week 3: January 30, February 1
Chapter 5 Measuring a Nation's Income
Chapter 6 Measuring the Cost of Living
Week 4: February 6, 8
Chapter 6 (cont).
Chapter 7 Production and Growth
Week 5: February 13, 15
Chapter 7 (cont).
Exam 1: Wednesday, February 15: Chapters 1, 2, 3, 4, 5, 6
Week 6: February 20, 22
Chapter 8: Savings, Investment and the Financial System
Week 7: February 27, March 1
Chapter 9: The Basic Tools of Finance
Week 8: March 6, 8
Chapter 10: Employment
Chapter 11: The Monetary System
Week 9: March 13, 15
Chapter 12 Money, Growth and Inflation
Week 10: March 20, 22
Exam 2: Tuesday, March 20: Chapters 7, 8, 9, 10, 11, 12
Chapter 13: Open-Economy Macroeconomics: Basic Concepts
Week 11: March 27, 29
Chapter 16: Aggregate Demand and Aggregate Supply
Chapter 17: The Influence of Monetary and Fiscal Policy on Aggregate Demand
Week 12: April 10, 12
Tuesday:
: no class
Thursday, April 12: Exam 3: Chapter 13, 16
Week 13: April 17, 19
Chapter 15: Keynes and IS-LM Analysis
Case studies of business cycles, monetary union.
Week 14: April 24, 26
Case studies of growth, China in the global economy.
Week 15: Comprehensive Final Exam - see University schedule for date and time
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