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JOHN CABOT UNIVERSITY
COURSE CODE: "EC 202"
COURSE NAME: "Principles of Macroeconomics"
SEMESTER & YEAR:
Fall Semester 2012
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SYLLABUS
INSTRUCTOR:
Merva Mary
EMAIL: [email protected]
HOURS:
MW 8:30-9:45
TOTAL NO. OF CONTACT HOURS:
45
CREDITS:
3
PREREQUISITES:
Prerequisite: MA 100 or MA 101; Recommended: EN 105
OFFICE HOURS:
Posted when the session begins
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COURSE DESCRIPTION:
The objective of this course is to introduce students to an analytical framework that can be used towards understanding economic issues. The aims of the course are first, to provide students with a fundamental background in macroeconomics so as to understand some of the big economic questions: the wealth of nations, the causes of business cycles, and the debates surrounding the use of fiscal and monetary policy to address issues of poverty, unemployment, inflation, and economic growth. Second, to provide students with a clear understanding of economic institutions, measures, and events such as the financial system and central banks, balance of payments, exchange rates, and trends in economic data series. Primary case studies covered include financial crises, the evolving role of China in the global economic, and the origins and challenges of European Monetary Union.
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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 - measuring inflation and unemployment,economic growth, the financial system, basics of finance, money, banking and central banks, inflation, loanable funds, exchange rates, balance of payments, aggregate supply and demand, business cyles, monetary and fiscal policy, and the inflation-unemployment tradeoff.
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LEARNING OUTCOMES:
- 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 economics data
- Develop use of mathematical tools
- 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
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TEXTBOOK:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments | Format | Local Bookstore | Online Purchase |
| Macroeconomics | Mankiw and Taylor | South Western Cengage | 13 978 1 4080 4392 9 | | | | | |
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REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments |
| The Worldly Philosophers: The Lives, Times And Ideas Of The Great Economic Thinkers ANY EDITION | Robert Heilbroner | Touchstone | 06-684-86214-x | | |
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GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| Exam 1 | Short answer and essay exam. | 25% |
| Exam 2 | Short answer and essay exam | 25% |
| Final Exam | Comprehensive final exam that includes two analytical essays and a set of short answer questions. | 40% |
-ASSESSMENT CRITERIA:
Assessment Guidelines for assigning main letter grades: A, B, C, D, and F.
A: Work 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.
B: This is a 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.
C: This is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.
D: This 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.
F: This work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.
The final exam is comprehensive and requires an analysis applying the material learned throughout the course. Students may demonstrate acceleration in their understanding of the material after reviewing their midterm exams and reflecting on how to undertake a more systematic economic analysis. Following the assessment guidelines above, students who demonstrate a strong understanding of the material on the comprehensive final at the end of the course may have the weight of their final increased relative to their midterms to reflect the learning process of this course.
A/A- 90-100; B+/B/B- 80-89; C+/C 70-79; C- 65-69; D+/D/D- 50-64; Below 50: F
-ATTENDANCE REQUIREMENTS:
Students are expected to have read before class and to participate in the lectures.
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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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OUTLINE
Week 1: Sept. 3, 5
Chapter 1 Ten Principles of Economics
Chapter 2 Thinking Like an Economist
Chapter 3 Interdependence and the Gains from Trade
Week 2: Sept. 10, 12
Chapter 4 The Market Forces of Supply and Demand
Chapter 5 Measuring a Nation's Income
Week 3: Sept. 17, 19
Chapter 5 (cont.)
Chapter 6 Measuring the Cost of Living
Week 4: Sept. 24, 26
Chapter 6 (cont.)
Wednesday: Exam 1: Chapters 1, 2, 3, 4, 5, 6
Week 5: Oct. 1, 3
Chapter 7 Production and Growth
Chapter 8 Saving, Investment, and the Financial System
Week 6: Oct. 8, 10
Chapter 9 The Basic Tools of Finance to include commercial banking
Week 7: Oct. 15, 17
Chapter 10 Unemployment
Chapter 11 The Monetary System
Week 8: Oct. 22, 24
Chapter 12 Money, Growth, and Inflation
Chapter 13 Open-Economy Macroeconomics: Basic Concepts
Week 9: Oct. 29, 31
Chapter 14 A Macroeconomic Theory of the Open Economy
Week 10: Nov. 5, 7
Chapter 15 Keynes and IS-LM Analysis
Week 11: Nov. 12, 14
Exam 2: Monday, November 12 Chapters 7, 8, 9, 10, 11, 12, 13, 14.
Chapter 16: Aggregate Demand and Supply
Week 12: Nov. 19, 21
Chapter 17 The Influence of Monetary and Fiscal Policy on Aggregate Demand
Week 13: Nov. 26, 28
Chapter 17 (cont.)
Chapter 18: Short Run Trade-Off Between Inflation and Unemployment
Week 14: Dec. 3, 5
Chapter 19: The Financial Crisis (some elements covered during the course)
Chapter 20: Common Currency Areas and the Monetary Union (some elements covered during the course)
Final exam: Comprehensive. See the University schedule for date and time.
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