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JOHN CABOT UNIVERSITY
COURSE CODE: "EC 202-3"
COURSE NAME: "Principles of Macroeconomics"
SEMESTER & YEAR:
Spring 2014
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SYLLABUS
INSTRUCTOR:
Simona Costagli
EMAIL: [email protected]
HOURS:
MW 6:00 PM 7:15 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:
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 manifold. First, to provide students with a background in macroeconomics enabling them to understand some fundamental economic questions: the wealth of nations, the causes of business cycles, and the use of fiscal and monetary policy to address unemployment, poverty, inflation and economic growth. Second, to provide students with a clear understanding of economic institutions, measures and events, such as the financial systems, central banks, balance of payments, exchange rates, and trends in economic data series.
The course also links the economic theory to current issues and open questions. A focus will be devoted to the current situation in the PIIGS countries, the causes and the consequences of the ongoing sovereign debt crisis in Europe, the role of China in the world economy and the possible consequences on the world economy of a Chinese slowdown.
Students are strongly encouraged to read articles from “The Economist” (available at the University’s library), the “Wall Street Journal” 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.
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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, exchange rates, balance of payments, aggregate supply and demand, business cycles, 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
· 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 | | The instructor will hand out or direct students to additional readings on macroeconomic issues. | | | |
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REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
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GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| Exam 1 | | 20% |
| Exam 2 | | 25% |
| Project | The 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
• Ability to summarize the key elements of an issue indicating you have clearly understand the underlying details of the issue in an oral presentation
• Development of an outline for a lecture
• Appropriate use of empirical information
Provide a 7 to 10 Power Point slide visual presentation, lecture outline, and bibliography.
The issue will be decided by lot from a list provided in the second week. All material must be handed in by February, while presentations will be made during March classes.
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| Final Exam comprehensive | | 40% |
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-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 co
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.
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.
-ATTENDANCE REQUIREMENTS:
Students are expected to participate in the lectures. Participation will be based on random selection of students to provide background information on the assigned readings or reports on economic events.
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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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Week 1:
1/13/2014 - Chapter 1 Ten Principles of Economics
1/13/2014 - Chapter 2 Thinking Like an Economist
1/15/2014 - Chapter 3 Interdependence and the Gains from Trade
Week 2:
1/20/2014 - Chapter 4 The Market Forces of Supply and Demand
1/22/2014 - Chapter 5 Measuring a Nation's Income
Week 3:
1/27/2014 - Chapter 5 Measuring a Nation's Income
1/29/2014 - Chapter 6 Measuring the Cost of Living
Week 4:
2/3/2014 - Review (1-6)
2/5/2014 - Exam 1: Chapters 1, 2, 3, 4, 5, 6
Week 5:
2/10/2014 - Project assignments
2/10/2014 - Chapter 7 Production and Growth
2/12/2014 - Chapter 8 Saving, Investment, and the Financial System
Week 6:
2/17/2014 - Chapter 9 The Basic Tools of Finance to include commercial banking
2/19/2014 - Chapter 10 Unemployment
Week 7:
2/24/2014 - Chapter 11 The Monetary System
2/26/2014 - Chapter 12 Money, Growth, and Inflation
2/26/2014 - Project due
Week 8:
3/3/2014 - Chapter 13 Open-Economy Macroeconomics: Basic Concepts
3/5/2014 - Project presentations
Week 9:
3/10/2014 - Project presentations
3/12/2014 - Project presentations
Spring Break 3/17-21/2014
Week 10:
3/24/2014 - Chapter 14 A Macroeconomic Theory of the Open Economy
3/26/2014 - Review (7-14)
Week 11:
3/31/2014 - Exam 2: Chapters (7-14)
4/2/2014 - Chapter 16 Aggregate Demand and Supply
4/4/2014 - Chapter 17 The Influence of Monetary and Fiscal Policy on Aggregate Demand
Week 12:
4/7/2014 - Chapter 17 The Influence of Monetary and Fiscal Policy on Aggregate Demand
4/9/2014 - Chapter 18 Short Run Trade-Off Between Inflation and Unemployment
Week 13:
4/14/2014 - Chapter 19 The Financial Crisis
4/16/2014 - Chapter 20 Common Currency Areas and the Monetary Union
Week 14:
4/23/2014 - Review
Final exam: Comprehensive. See the University schedule for date and time.
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