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JOHN CABOT UNIVERSITY

COURSE CODE: "EC 302"
COURSE NAME: "Intermediate Macroeconomics"
SEMESTER & YEAR: Spring 2025
SYLLABUS

INSTRUCTOR: Mary Merva
EMAIL: [email protected]
 HOURS: MW 6:00 PM 7:15 PM
TOTAL NO. OF CONTACT HOURS: 45
CREDITS: 3
PREREQUISITES: Prerequisites: EC 201, EC 202
OFFICE HOURS:
COURSE DESCRIPTION:
The subject matter of this course is the nature and determination of a country’s most important measures of economic well-being: aggregate output and unemployment, and a series of related variables such as inflation, interest rates, and exchange rates. The course presents economic models that can be used as tools to understand the behavior of these aggregates and evaluate alternative economic policies.
SUMMARY OF COURSE CONTENT:
In this course we extend the study of macroeconomics to more deeply examine the macroeconomic outcomes such as economic growth, unemployment,  inflation, and the business cycle as well as the policy responses to those outcomes. 
LEARNING OUTCOMES:

1. Understand how to critically use economic models to analyze macroeconomic outcomes and policy responses.

2. Learn how to use economic data to understand and interpret macroeconomic trends.

3. Communicate lucidly and clear about more complex topics. 

4. Develop problem solving skills.

5. Gain a greater awareness of the behavior of key economic actors and institutions and the policy decisions that they face.
TEXTBOOK:
Book TitleAuthorPublisherISBN numberLibrary Call NumberCommentsFormatLocal BookstoreOnline Purchase
MacroeconomicsGregory MankiwAthenaeum Uitgeverij978-1319243586 Regular reading of The Financial Times and The Economist are always encouraged.   
REQUIRED RESERVED READING:
NONE

RECOMMENDED RESERVED READING:
NONE
GRADING POLICY
-ASSESSMENT METHODS:
AssignmentGuidelinesWeight
Exam 1Problems and essays. 20%
Exam 2Problems and essays.20%
Final Comprehensive Exam Comprehensive final exam. 35%
Exam 3Problem and essays.15%
Participation AssignmentTo be provided 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. A- 90 to 93; A 94-100
BThis is highly competent level of performance and directly addresses the question or problem raised. There is a demonstration of some ability to critically evaluate theory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture and reference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments. B- 80-83; B 84-86; B+ 87-89
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. C- 67-69; C 70-75; C+ 76-79
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. D+ 65-66; D 63-64; D- 60-62
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 percent.
-ATTENDANCE REQUIREMENTS:

You can miss classes for any personal reason without any excuse.  Students who normally miss more than four classes usually do not do as well in the course.  You are responsible for the material you miss or any class participation exercises. 

Students will have the option to drop ONE of the lowest midterm exams and move the weight to the comprehensive final if that improves the overall grade.  Students who miss less than four classes can drop two midterms and put the weight on the final. Dean's Office excuses for missing classes are not necessary as if you miss more than four, you only lose an option that can only be activated by attending class.   NOTE:  you cannot simply miss an exam and assume that is the one that is dropped. You must take all exams unless you have a formal excuse from the Dean's Office - see below. In sum, if you miss an exam without an excuse, the zero cannot be dropped from your course final grade weight.

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. 

Should a student miss an exam, the professor will move the weight of the missed exam to the comprehensive final. No special make -up exams will be given however, the student should take the missed exam in a timed situation and ask the professor to give them informal feedback to check their study progress.  

No electronic devices allowed in class with the exception of a tablet to take notes.  No eating or drinking in 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

Subject to change - see the Moodle Course Site for details of exam dates, content, and other assignment deadlines.  

The schedule is on the Moodle course site.

Introduction

Chapter 2 The Data of Macroeconomics

Chapter 3 National Income
Chapter 4 The Monetary System: What It Is and How It Works

Chapter 6: The International Flows of Capital and Goods

Chapter 7: Unemployment and the Labor Market

Chapter 8: Economic Growth I: 8-1, 8-2

Chapter 9: Economic Growth II: 9-2

Baumol’s Unbalanced Growth Model

Chapter 10: Introduction to Economic Fluctuations

Chapter 11: Aggregate Demand I: Building the IS-LM Model

Chapter 12: Aggregate Demand II: Applying the IS-LM Model

Chapter 15:  A Dynamic Model of Economic Fluctuations: 15-1 The Taylor Rule

Chapter 13: The Open Economy Revisited 13-1 to 13-4

The Minsky moment

Chapter 16: Alternative Perspectives on Stabilization Policy

Chapter 17: Government Debt and Budget Deficits

Pension Funding

Final Exam Period:

See University schedule for the day and time.

Comprehensive final exam.