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COURSE NAME: "Principles of Macroeconomics "
SEMESTER & YEAR: Fall 2019

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 European Central Bank “Quantitative easing” tapering on the Euro area.


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
sep. 2  Introduction
sep. 4 Chapter 3 (Ricardian Model) Interdependence and the Gains from Trade
week 2
sep. 9 Chapter 4 The Market Forces of Supply and Demand
sep. 11 Chapter 5 Measuring a Nation's Income
week 3
sep. 16 Chapter 5 Measuring a Nation's Income
sep- 18 Chapter 6 Measuring the Cost of Living
week 4
sep. 23 Review
sep. 25 First exam 20% (1-6)
week 5
sep. 30 Chapter 7 Production and Growth
oct. 2 Chapter 8 Saving, Investment, and the Financial System
week 6
oct. 7 Chapter 9 The Basic Tools of Finance 
oct. 9 Chapter 10 Unemployment
week 7
oct. 14 Chapter 10-Chapter 11 The Monetary System
oct. 16 Chapter 11 The Monetary System
week 8 Project assignment
oct. 21 Chapter 12 Money, Growth, and Inflation 
oct. 23 Chapter 13 Open-Economy Macroeconomics: Basic Concepts
week 9
oct. 28 Review (7-13)
oct. 30 Second mid term 20%  (7-13)
week 10
nov. 4 Chapter 16 Aggregate Demand and Supply 
nov. 6 Chapter 17 The Influence of Monetary and Fiscal Policy on Aggregate Demand
week 11
nov. 11 Chapter 17 The Influence of Monetary and Fiscal Policy on Aggregate Demand
nov. 13 Chapter 18 Short Run Trade-Off Between Inflation and Unemployment
week 12
nov. 18 Project presentation
nov. 20 Project presentation
week 13
nov. 25 Project presentation
nov. 27 Financial crisis
week 14
dec. 2 Chapter 20 Common Currency Areas and the Monetary Union
dec. 4 Review
Final Exam comprehensive during the FINAL examination period. 
See the University’s schedule for date and time.