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JOHN CABOT UNIVERSITY

COURSE CODE: "EC 202-2"
COURSE NAME: "Principles of Macroeconomics"
SEMESTER & YEAR: Fall 2024
SYLLABUS

INSTRUCTOR: Mary Merva
EMAIL: [email protected]
 HOURS: MW 10:00 AM 11:15 AM
TOTAL NO. OF CONTACT HOURS: 45
CREDITS: 3
PREREQUISITES: Prerequisite: MA 100 or MA 101; Recommended: EN 105
OFFICE HOURS: To be announced and by appointment.
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.
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. 

The course materials are posted on Moodle, our leaning management system, available at http://moodle.johncabot.edu/ .

Students are strongly encouraged to read The Economist as well as The Financial Times to follow current economic topics. Other readings may be assigned during the course.

 
LEARNING OUTCOMES:

*  Understand basic macroeconomic tools and concepts so as to use them to construct critical arguments regarding economic issues: to include trade, measurement of GDP and inflation, markets, financial system, labor markets, central banks and monetary policy, aggregate demand and supply, fiscal policy,  business cycles, and economic growth.

*   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.
TEXTBOOK:
Book TitleAuthorPublisherISBN numberLibrary Call NumberCommentsFormatLocal BookstoreOnline Purchase
MacroeconomicsMankiw and TaylorSouthwestern Cengage13 978 1 4080 4392 9  Any edition will work. Be sure it is the introduction to macroeconomics text.Hard Copy  
REQUIRED RESERVED READING:
NONE

RECOMMENDED RESERVED READING:
NONE
GRADING POLICY
-ASSESSMENT METHODS:
AssignmentGuidelinesWeight
First ExamShort problems and essays20%
Second ExamShort problems and essays20%
Third ExamShort problems and essays20%
Final exam Comprehensive essays plus short problems30%
Assignment: Participation ChecksStudents will be assigned short articles to comment on or make a presentation (random selection). Grading is based upon the level of engagement with the material: high (100%); basic (70%); superficial (50%).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. 70-71 C-; 72-76 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. 55-61: D-; 62-66 D; 67-69: 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 55 is failing.
-ATTENDANCE REQUIREMENTS:

Attendance will be taken after the first week.  Lateness after the class begins counts as a miss. 

Students can miss up to 6 classes without requiring an excuse. 

If you do, however, have to miss a major exam, you need to follow the University policy and notify the Dean's Office.  Should you have an authorize excuse for missing a major exam, the weight of the missed exam will be put on your final exam.  (You can get a copy of the exam you missed and practice with it - I will be happy to give feedback but, I do not provide make-up exams for grading).

Students who meet the attendance requirement will have the option of dropping one low midterm exam grade and moving the weight to the final given the final exam is comprehensive.  Students who do not meet the attendance requirements will not have this option.

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 except for tablets to take notes.  No eating and drinking during class.

Please bring a calculator to class. 

 

 

 
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.
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.
SCHEDULE

The schedule may change so always check the announcements in class.

Week 1:

Chapter 1 and Chapter 2:  Introduction

Trade: Interdependence and the gains from trade (see pdf Chapter on Moodle)

Week 2:

Trade (cont.)

The Market Forces of Supply and Demand

Measuring a nation’s well-being and the price level

Week 3: 

Measuring a nation's well-being and the price level (cont)

Week 4: 

Production and growth

Exam 1:  Trade; measurement, supply and demand.

Week 5: 

Saving, investment, and the financial system

Week 6:

The monetary system

Week 7:   

Unemployment and the labor market

Week 8: 

Review of Savings, investment and the financial system; The monetary system; and Unemployment and the labor market. 

Exam 2:  S&I and financial system, monetary system, unemployment and labor market.

Week 9: 

Open-economy macroeconomics

Business Cycles

Week 10:

Aggregate demand and aggregate supply

(Chapter 11: Keynesian economics and IS-LM for those interested in studying this more in depth).

Week 11: 

The influence of monetary and fiscal policy on aggregate demand

Exam 3: AS & AD model.

Week 12

Supply side policies

The causes and aftermath of the 2008 financial crisis

Economics of the European Union

 China in the global economy

Week 13

Discussion of macro topics-review-presentations

Week 14

Discussion of macro topics-review presentations

Final Exam Period

See University schedule for the day and time.

Comprehensive final exam.