JCU Logo
JOHN CABOT UNIVERSITY

COURSE CODE: "EC 202-1"
COURSE NAME: "Principles of Macroeconomics"
SEMESTER & YEAR: Spring 2015
SYLLABUS

INSTRUCTOR: Mary Merva
EMAIL: [email protected]
 HOURS: TTH 8:30 AM 9:45 AM
TOTAL NO. OF CONTACT HOURS: 45
CREDITS: 3
PREREQUISITES: Prerequisite: MA 100 or MA 101; Recommended: EN 105
OFFICE HOURS: By appointment or stop by the office
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 tradeoff.
LEARNING OUTCOMES:

*  Understand basic macroeconomic concepts use them to construct a critical arguments

*   Learn to read data and evaluate sources of economic data

*   Develop use of mathematical tools

*   Write and speak clearly and carefully so as to better articulate arguments

*   Locate data sources and prepare visual presentations to learn how to properly document materials  and convey information clearly and ethically

TEXTBOOK:
Book TitleAuthorPublisherISBN numberLibrary Call NumberCommentsFormatLocal BookstoreOnline Purchase
MacroeconomicsMankiw and TaylorSouth Western Cengage139781408043929 Any edition will work   
REQUIRED RESERVED READING:
NONE

RECOMMENDED RESERVED READING:
Book TitleAuthorPublisherISBN numberLibrary Call NumberComments
The Worldly PhilosophersRobert HeilbronerTouchstone978-0684862149 Classic book on some of the great economists.
GRADING POLICY
-ASSESSMENT METHODS:
AssignmentGuidelinesWeight
First ExamShort answers and essays.25%
Second ExamShort answers and Essays25%
ProjectPresentation and description of economic data10%
Final exam Comprehensive short answers and essays40%

-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+
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. 70-73: C-; 74-76: 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. 60-63: D-; 64-67: D; 68-69: 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 60 is failing.
-ATTENDANCE REQUIREMENTS:

As the final exam is comprehensive, students who miss 4 classes or fewer (excused or unexcused) will have the option to drop midterm grades that are low and move the weight of those exams to the final.  Students who do not meet the attendance requirements will not have this option.

Students are expected to have read before class and to participate in the lectures if they wish to learn the material well as well as participate in the class lectures.

There are two lectures days where we will not hold class:  Tuesday, February 17th, and Tuesday, March 31st due to University travel commitments of the instructor.  Instead of holding make-up classes for those two days, we will begin class at 8:15 from week 2 through week 6 (we may also do so for the remainder of the semester if students would like additional class time).
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

Week 1: January 20, 22

Chapter 1 Ten Principles of Economics

 Chapter 2 Thinking Like an Economist

 Chapter 3 Interdependence and the Gains from Trade

Week 2:  January 27, 29

Chapter 4 The Market Forces of Supply and Demand

Chapter 5 Measuring a Nation's Income

Week 3: February 3, 5

Chapter 6 Measuring the Cost of Living

Week 4: February 10, 12

Chapter 7 Production and Growth

Chapter 8 Saving, Investment, and the Financial System 

Week 5: February 17, 19

No class Tuesday, February 17th

Thursday, February 19th: Exam 1:  Chapters 1, 2, 3, 4, 5, and 6

Week 6: February 24, 26

Chapter 9 The Basic Tools of Finance

Week 7: March 3, 5

Chapters 8 and 9 continued

Chapter 10: Employment

Week 8:  March 10, 12

Chapter 11 The Monetary System

 Chapter 12 Money, Growth and Inflation

Week 9: March 17, 19

Chapter 12 (cont.)  

Chapter 13 Open-Economy Macroeconomics: Basic Concepts

Week 10:  March 24, 26

 Chapter 14 A Macroeconomic Theory of the Open Economy

Week 11:  March 31, April 2

No class Tuesday, March 31st

Thursday, April 2nd Exam 2:  Chapters 7, 8, 9, 10, 11, and 12

Week 12:  April 14, 16

Chapter 16 Aggregate Demand and Supply

Project due and short quiz at beginning of class.

Chapter 16 (cont.)

Do a preliminary reading of Chapters 19 and 20.

Week 13: April 21, 23

Chapter 17 The Influence of Monetary and Fiscal Policy on Aggregate Demand

Chapter 15:  Introduction to the IS-LM Model

Chapter 18 The Short Run Trade-Off Between Inflation and Unemployment

Week 14:  April 28, 30

Students are should read these chapters beginning week 12 as a preparation for week 14.

Chapter 19 The Financial Crisis

Chapter 20 Common Currency Areas and Monetary Union

The Chinese Economy:  Economic Issues for the Global Economy

Week 15: See University Schedule for date and time of the final exam which is comprehensive