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JOHN CABOT UNIVERSITY
COURSE CODE: "EC 202-3"
COURSE NAME: "Principles of Macroeconomics"
SEMESTER & YEAR:
Spring 2024
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SYLLABUS
INSTRUCTOR:
Marco Biagetti
EMAIL: [email protected]
HOURS:
MW 4:30 PM 5:45 PM
TOTAL NO. OF CONTACT HOURS:
45
CREDITS:
3
PREREQUISITES:
Prerequisite: MA 100 or MA 101; Recommended: EN 105
OFFICE HOURS:
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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:
Measuring a nation’s well-being and the price level
Production and growth
Unemployment and the labour market
Saving, investment and the financial system
The monetary system
Open-economy macroeconomics
Business cycles
Keynesian economics and IS–LM analysis
Aggregate demand and aggregate supply
The influence of monetary and fiscal policy on aggregate demand
The short-run trade-off between inflation and unemployment
Supply-side policies
Economic shocks
Sustainability economics
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LEARNING OUTCOMES:
At the end of the course the students will understand how to measure a nation’s well-being and the price level (possibly with some math), and the following economic concepts: production, growth, unemployment in the labor market, long run and savings, investment, the financial system, the monetary system, open economy, short run economics, some international macroeconomics.
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TEXTBOOK:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments | Format | Local Bookstore | Online Purchase |
| Economics | N. Gregory Mankiw; Mark P. Taylor | Cengage Learning | ISBN-13: 978-1-4737-8698-1 | | | Ebook | | |
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REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments |
| Macroeconomics | N. Gregory Mankiw; Mark P. Taylor | Cengage Learning | ISBN-13: 978-1-4737-8699-8 | | The two books are very similar. More infos when classes start. |
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GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| Class participation | Includes in class participation, discussions and interaction | 10% |
| Midterm exam 1 | The exam will be worth 100 points. It will cover all the material taught up until a week before the exam day. Multiple-choice questions and also open-ended questions. Regardless of the format, the questions will be analytical in nature. | 25% |
| Midterm exam 2 | The exam will be worth 100 points. It will cover all the material taught from Midterm exam 1 onward. Multiple-choice questions and also open-ended questions. Regardless of the format, the questions will be analytical in nature. | 25% |
| Final exam | The exam will be worth 100 points. It might be cumulative, that is it might be about all the material covered throughout the course or either cover only the last part. Multiple-choice questions and also open-ended questions. Regardless of the format, the questions will be analytical in nature. | 40% |
-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.
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.
-ATTENDANCE REQUIREMENTS:
ATTENDANCE REQUIREMENTS AND EXAMINATION POLICY
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 ____________
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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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Weeks
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Topics
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Reading
Assignment
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Exams dates and topics covered (see below)
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THE DATA OF MACROECONOMICS
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1
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Marxist school, Austrian, school, Keynesianism, Monetarism, circular flow diagram and the institutional sectors, well-being, GDP and different measures, CPI
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Chapter 20 of MT
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THE REAL ECONOMY IN THE LONG RUN
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2
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Production and growth
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Chapter 21 of M-T
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3
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Unemployment and labor marke
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Chapter 22 of M-T |
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LONG RUN MACROECONOMICS
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4
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Saving, Investment and the financial system
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Chapter 23 of M-T
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5
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The monetary system
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Chapter 24 of M-T
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6
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Open-economy macroeconomics |
Chapter 25 of M-T
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SHORT-RUN ECONOMIC FLUCTUATIONS
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7
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Business cycle
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Chapter 26 of M-T
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8
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Keynesian economics and IS-LM analysis
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Chapter 27 of M-T
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9
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Aggregate Demand and Aggregate Supply
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Chapter 28 of M-T
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The influence of monetary and fiscal policy on aggregate demans |
Chapter 29 of M-T |
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11
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The short-run trade-off between inflation and unemployment
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Chapter 30 of M-T
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12
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Supply-side policies
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Chapter 31 of M-T
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INTERNATIONAL MACROECONOMICS
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13
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Economics shocks
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Chapter 32 of M-T
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14
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European Union
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Chapter 33 of M-T
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(if time allows)
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