Download Syllabus for Introduction to Macroeconomics

Introduction to Macroeconomics Course Syllabus
S.U.N.Y. ULSTER (3 Credits)
Course Section: ECO 101-76 (CRN:20699)
Classroom: RM 77
Instructor: Jim Ventriglia
Office: Marlboro Central High School (RM 77)
Office Phone: 845-236-5810
Office Hours: MW 2:00-5:00PM
Email: [email protected]
Office Hours: Monday – Friday 2:20-3:15
Semester: Spring 2010
I. Course Objectives:
This is an introductory course in macroeconomics – the study of the economy as a whole.
Macroeconomics is oriented largely towards national economic policies. The topics we will discuss appear
regularly in mass media (newspapers, television, radio, internet, etc.). This course will apply the basic tools of
economics (i.e. useful tools for “thinking like an economist”) to reason accurately and objectively about
macroeconomic topics, including national income determination, growth, unemployment, inflation, banking,
economic fluctuations, monetary and fiscal policies. It will also help you to judge the macroeconomic policy
proposals that are put forth by our elected officials (i.e. President Barack Obama).
.
II. Prerequisites:
For many of you this is probably your first course in economics. Moreover, your enrollment in this class is
derived from your mastery of United States History and Government, teacher recommendation, and assessment
of your interdisciplinary academic ability and proficiency as a student in the Marlboro Central School District.
Therefore, there are absolutely no prerequisites needed for taking this class. Occasionally, I will assume that
you can handle basic graphical analysis and some algebra.
III. Textbooks:
Required Textbook: Principles of Macroeconomics (6th Edition) by John B. Taylor and Akila Weerapana;
IBSN: 2007934818; Publisher: Houghton Mifflin Company.
IV. Homepage of the Course:
You can access to the homepage of this course via Teacher Web
(http://teacherweb.com/NY/marlborohighschool/MrVentriglia). The class website WILL be an integral
component of this course. It is highly recommended that you bookmark the website ASAP and check it as
often as you check your Facebook. Among other things, the resources available on the class website include
the following: course syllabus, lecture notes, announcements, homework assignments, current grades, the
discussion board, etc.
V. Grading:
Grading will be based on the following: homeworks, two major tests, a research paper, the midterm exam, and the
final exam. There will be 6 homework assignments, while the highest 5 homework scores will be factored into the
final grade. You will have two major tests, plus a midterm and a final exam. In addition, you will have to write a
comprehensive 5-7 page paper research paper on a current economic issue. There will also be some extra credit
opportunities in this class: (1) answering/posing questions in class; (2) active participation in discussion boards.
The percentage weighting of the homeworks, examinations and quizzes is indicated below:
Homeworks (Throughout the semester): 15%
Test One: 10%
Midterm Exam: 20%
Research Paper: 15%
Test Two: 10%
Final Exam (To be announced): 30%
Total: 100% of 100 points
V. Grading: continued….
I expect EVERYONE will obtain a grade of “A” from this course. However, your success lies upon your
effort. Numerical scores on each assignment/test will determine grades. Assignments/tests and your final
grade may be curved. The scale will be as follows:
A+ = 98-100%
A = 93 -97%
A- = 90 - 92%
B+ = 87 - 89%
B = 83 - 86%
B- = 80 - 82%
C+ = 77 - 79%
C = 73 - 76%
C- = 70 - 72%
D
= 60 - 69%
F
= 0 - 59%
VI. Class Policies:
1. Regular attendance is required and is strongly recommended. However, you are allowed 10
unexcused absences. The materials are cumulative in nature, so if a student misses some lectures, she or
he will not make sense out of subsequent lectures. In addition, you lose opportunities to earn extra
credits in the events of absence. So skip at your own risk!
2. The stated schedule and procedures in the course are subject to change in the event of extenuating
circumstances.
3. Continued enrollment in the course will indicate that the student has carefully read the syllabus and
assumed responsibility of satisfying the course requirements.
4. You are allowed and encouraged to work together on the homework questions, but you should write
your own answers by yourself and make sure you understand everything you write down.
5. The only acceptable excuses for missing an exam/quiz or a late assignment are medical reasons or
family emergencies, and they should be provided before the actual exam or the deadline of the
assignment. No makeup exam/quiz will be given without acceptable excuses. A late assignment can only
receive 50% of your score, and I do not accept late assignments once the answers have been announced.
6. Academic integrity means that you follow the honor code in your academic work. The honor code deals
specifically with:
A. Cheating and Attempted Cheating
B. Plagiarism
C. Lying
D. Stealing
***ANY VIOLATION IS GROUNDS FOR AN “F” IN THIS COURSE***
The Academic Integrity policy is a ZERO-SUM GAME. In other words, your FIRST offense WILL be
your LAST offense.
VII. Course Outline:
Chapter 1: The Central Idea: Scarcity and Choice; Market Economies and the Price System
Chapter 2: Observing and Explaining the Economy: What do Economists Do?
Chapter 3: The Supply and Demand Model/ Market Equilibrium
 Homework 1
Chapter 4: Subtleties of the Supply and Demand Model: Price Floors, Price Ceilings, and Elasticity
**TEST #1**
Chapter 5: Macroeconomics: The Big Picture
Chapter 6: Measuring the Production, Income, and Spending of Nations
Chapter 7: The Spending Allocation Model
 Homework 2
Chapter 8: Unemployment and Employment
Chapter 9: Productivity and Economic Growth
 Homework 3
Chapter 10: Money and Inflation: The Money Supply and the Federal Reserve System
**MID-TERM EXAMINATION**
Chapter 11: The Nature and Causes of Economic Fluctuations
Chapter 12: The Economic Fluctuations Model: Aggregate Demand Curve; Inflation Adjustment Line
 Homework 4
Chapter 13: Using the Economic Fluctuations Model: Changes in Government Purchases;
Changes in Monetary Policy; Price Shocks
Chapter 14: Fiscal Policy: Government Budget; Countercyclical Fiscal Policy; Structural vs. Cyclical Surplus
 Homework 5
Chapter 15: Monetary Policy: Central Banks; Executing Monetary Policy;
Exchange Rates and Monetary Policy
Chapter 16: Financial Markets: Physical Capital versus Financial Capital; Markets for Financial Capital;
The Tradeoff Between Risk and Return; Corporate Governance Problems
**TEST #2**
Chapter 17: Economic Growth and Globalization
 Homework 6
Chapter 18: The Gains from International Trade: Comparative Advantage; Gains from Expanding Markets
Chapter 19: International Trade Policy: Tariffs/ Quotas; Trade Restrictions; Arguments For/Against Trade Barriers
**RESEARCH PAPER DUE**
**FINAL EXAMINATION**