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JOHN CABOT UNIVERSITY

COURSE CODE: "EC 202-1"
COURSE NAME: "Principles of Macroeconomics"
SEMESTER & YEAR: Spring 2016
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
Brief Principles of Macroeconomics, 7th editionN. Gregory MankiwCengage LearningISBN-13: 9781305081666 Any older (used) edition of the Mankiw Macroeconomics or the Mankiw and Taylor Macroeconomics will do. Should you have a different edition, please follow the topics in the syllabus should chapter numbers vary.   
REQUIRED RESERVED READING:
NONE

RECOMMENDED RESERVED READING:
NONE
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.

Due to professional travel commitments of the professor, class will be cancelled Tuesday, April 5. The make-up class will be held Friday, February 26 at 10:00-11:15.

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:  Jan 19, 21



Chapter 1 Ten Principles of Economics

 Chapter 2 Thinking Like an Economist

 Chapter 3 Interdependence and the Gains from Trade

Week 2:  Jan 26, 28



Chapter 4 The Market Forces of Supply and Demand

Chapter 5 Measuring a Nation's Income

Week 3:  Feb 2, 4



Chapter 6 Measuring the Cost of Living

Week 4:  Feb 9, 11



Chapter 7 Production and Growth

Exam 1:  Thursday, February 11: Chapters 1, 2, 3, 4, 5, and 6

Week 5: Feb 16, 18

Chapter 8: Savings, Investment and the Financial System



Week 6:  Feb 23, 25 and Friday, February 26 will be a make-up class for Tuesday, April 5 (10:00-11:15)



Chapter 8: (Cont)



Chapter 9 The Basic Tools of Finance

Week 7:  Mar 1, 3 



Chapter 10: Employment

Chapter 11: The Monetary System

Week 8:  Mar 8, 10 



Chapter 12 Money, Growth and Inflation

Chapter 13: Open-Economy Macroeconomics: Basic Concepts

Week 9:   Mar 15, 17



Chapter 14: A Macroeconomic Theory of the Open Economy - (China and globalization;  capital flight)

Week 10: Mar 22, 24



Chapter 16: Aggregate Demand and Aggregate Supply

Week 11: April 5, 7

Tuesday, April 5th class cancelled (Make-up on Friday, February 26 10:00-11:15)

Exam 2: Chapters 8, 9, 10, 11, 12 and 13

Week 12:  April 12, 14



Chapter 16 (Cont).



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

Chapter 15: Keynes and IS-LM Analysis

Do a preliminary reading of Chapters 19 and 20.

Week 13:  April 19, 21 



Chapter 19 The Financial Crisis

Week 14:  April 26, 28



Chapter 20 Common Currency Areas and Monetary Union

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