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JOHN CABOT UNIVERSITY

COURSE CODE: "EC 202-1"
COURSE NAME: "Principles of Macroeconomics"
SEMESTER & YEAR: Fall 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: 8:00-8:30 before class or by appointment
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 trade-off.  The course focus is on critical-thinking and analyses of economic issues.
LEARNING OUTCOMES:

*  Understand basic macroeconomic tools and concepts so as to use them to construct critical arguments regarding economic issues

*   Learn to read data and evaluate sources of economic data

*   Develop applications 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 MacroeconomicsGregory MankiwSouth Western Cengage978-1285165929 Any edition of this book will do so try to find one that is used and cheaper than the newest edition if textbook costs are a concern. You do, however, need to have the book for the course. You may find a similar one by Mankiw and Taylor (this is the European version).   
REQUIRED RESERVED READING:
NONE

RECOMMENDED RESERVED READING:
NONE
GRADING POLICY
-ASSESSMENT METHODS:
AssignmentGuidelinesWeight
First ExamShort answers and essays.20%
Second ExamShort answers and Essays20%
In class 10 minute quizzesStudents will have 6 in-class quizzes lasting 10 minutes each. The quizzes will be unannounced and take place at the beginning of class. Quiz topics will be based on the material covered in the previous lessons. Two of the lowest grades will be dropped.10%
Final exam Comprehensive short answers and essays40%
   
Empirical data projectStudents will work with Penn World data and Fred data to examine macroeconomic variables for a selected country within the context of one the following events: 1. 2007-2009 financial crisis; 2. change in price of oil; 3. Brexit.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. 90-93: A-; 94 and higher: A
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 one or both midterm grades and move the weight to the final exam.  Students may not drop the overall quiz and project grade.  Students who do not meet the attendance requirements will not have this option.

Students who are late to class (arriving after the attendance call) are counted as not attending.

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

 
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: August 30, September 1



Chapter 1 Ten Principles of Economics



Chapter 2 Thinking Like an Economist



Chapter 3 Interdependence and the Gains from Trade

Week 2:  September 6, 8



Chapter 4 The Market Forces of Supply and Demand



Chapter 5 Measuring a Nation's Income

Week 3:  September 13, 15



Chapter 6 Measuring the Cost of Living

Week 4:   September 20, 22, 23



Chapter 7 Production and Growth



Chapter 8: Savings, Investment and the Financial System

Week 5:  September 27, 29



Exam 1:  Tuesday September 27 Chapters 1, 2, 3, 4, 5, 6, 7



Chapter 8: (Cont)







Week 6:  October 4, 6



Chapter 9 The Basic Tools of Finance

Week 7: October 11, 13



Chapter 10: Employment



Chapter 11: The Monetary System

Week 8:   October 18, 20



Chapter 12 Money, Growth and Inflation



Chapter 13: Open-Economy Macroeconomics: Basic Concepts

Week 9:    October 25, 27, 28



Tuesday, October 25: Exam 2 Chapters 7, 8, 9, 10, 11, 12



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

Week 10:  November 3



Chapter 16: Aggregate Demand and Aggregate Supply

Week 11:  November 8, 10



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







Week 12:  November 15, 17



Chapter 17  (Cont.)



Chapter 15: Keynes and IS-LM Analysis



Do a preliminary reading of Chapters 19 and 20.

Week 13:  November 22

Tuesday Project due.



Chapter 19 Financial Crises

Week 14:   November 29, December 1



Chapter 20 Common Currency Areas and Monetary Union

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