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University of Wisconsin – Milwaukee
Principles of Macroeconomics
Fall 2010
Economics 296-104 Lecture 207 (#45181)
Online
Professor:
E-mail:
Voice:
G. Richard Meadows
[email protected]
414 229-5895
Teaching Asst: TBD
E-mail:
Required Text:
N. Gregory Mankiw, Brief Principles of Macroeconomics (5th edition), SouthWestern Cengage Learning, ISBN-13: 978-0-324-59037-1or ISBN-10: 0-324-59037-7. This text may
be purchased at the UMM Bookstore (or by visiting the bookstore’s on-line ordering site):
http://uwmbookstore.aux.uwm.edu/home.aspx.
N.B. IF YOU DECIDE TO BUY THIS TEXT FROM A VENDOR OTHER THAN THE UWM
BOOKSTORE, BE CERTAIN THAT YOU GET THE 5th EDITION, AND THAT YOU GET
THE BRIEF PRINCIPLES OF MACROECONOMICS. For reference, the cover of the text looks
like:
Likewise, this book is available from Amazon.com and (no doubt) countless other on-line book
sellers. The Amazon.com link is: http://www.amazon.com/Brief-Principles-MacroeconomicsGregory-Mankiw/dp/0324590377/ref=sr_1_1?ie=UTF8&s=books&qid=1245932322&sr=8-1.
[Be careful on the Amazon site because I see that there are links to older editions of the text. Be
certain that you have the right edition; one hint is that a used copy is likely to cost about $45. If you
see a copy for much less than $45, it is likely to be an old edition and should be avoided.]
Another option is to rent your textbook for the semester. At least one vendor (Chegg.com) offers a
textbook rental program. Chegg.com can be found at: http://www.chegg.com/details/briefprinciples-of-macroeconomics/0324590377/
Text-Based Resource: The text has a dedicated student website:
[http://websites.swlearning.com/cgiwadsworth/course_products_wp.pl?fid=M20b&flag=student&product_isbn_issn=9780324590371
&disciplinenumber=413] that takes the place of “study guides” sold with other textbooks.
Syllabus
Econ. 104, Section 207
Fall 2010
2
Other Web-Based Resources: In addition to the text and the text-based web site, I will make
frequent references to discussions of current events found in the financial press. Copies of the
articles (and/or URLs) will be distributed to you electronically. Because we will make frequent use of
The New York Times, I urge you to register for the on-line version of that newspaper (if you are
not already registered). To register for the Times, go to: [http://www.nytimes.com ]. Registration is
free, and the daily electronic headline service is very useful. Do this immediately.
Course Outline:
This course will introduce you to the fundamentals of macroeconomic theory and practice. This is
the second course in the usual two-semester sequence in Principles of Economics. [Although a twocourse sequence in Principles of Economics is common throughout the United States, not every
university (even within the UW System) follows the sequence used here at UW-Milwaukee (micro
first, macro second). If you have not taken a course in microeconomics (or are not enrolled
concurrently), please read (and master) Chapter 4 of the text (in addition to the assigned
introductory chapters 1, 2, 3, 5, and 6) as quickly as possible.
Course Student Learning Objectives:
At the successful conclusion of this course, you will be able to demonstrate the following
competencies:
 You will have a good working knowledge of the terminology of macroeconomics and
finance.
 You will have the ability to understand and apply the basic Keynesian model of income
determination and the applications of monetary and fiscal policy that follow from that
model.
 You will have a beginning understanding of the sources of long-term economic growth and
possible policy responses to the short-run economic problems of inflation and
unemployment.
 You will have a beginning understanding of the role of education and training in the
development of the U.S. labor force and the relationship between education and earnings in
the American economy.
 You will have a beginning understanding of the processes of globalization that affect all
economies of the world including the current global economic recession – its origins,
impact on the US economy, and likely duration.
 You will have a basic understanding of the time value of money and will be able to apply
this concept in simple applications.
 You will have a beginning understanding of the relationship between macroeconomic
theory/analysis and current economic/political policy debates within the United States.
 You will be able to read the financial press and other forms of economic analysis with
increased understanding and critical perspective.
Assignments:
WEEK
CHAPTER TITLE
Week 1 (9/2 -- 9/5)
Chapter 1
Ten Principles of Economics
Chapter 2
Thinking Like an Economist
PAGES
3-19
21-39
Syllabus
Econ. 104, Section 207
Fall 2010
3
Week 2 (9/6 -- 9/12)
Chapter 2
Appendix
Chapter 3
Interdependence and the Gains from Trade
40-48
49-62
Week 3 (9/13 — 9/19)
Chapter 5
Measuring a Nation’s Income
91-111
Week 4 (9/20 — 9/26)
Chapter 6
Measuring the Cost of Living
113-129
Week 5 (9/27 – 10/3)
Chapter 7
Production and Growth
133-158
Week 6 (10/4 – 10/10)
Chapter 8
Savings, Investment, & the Financial System
159-180
Week 7 (10/11 – 10/17)
Mid-term Exam
Week 8 (10/18 – 10/24)
Chapter 9
The Basic Tools of Finance
181-196
Week 9 (10/25 – 10/31)
Chapter 10
Unemployment
197-221
Week 10 (11/1 – 11/7)
Chapter 11
The Monetary System
225-245
Week 11 (11/8– 11/14)
Chapter 12
Money Growth and Inflation
247-271
Week 12 (11/15 – 11/21)
Chapter 13
Open-Economy Macroeconomics
275-298
Week 13 (11/22 – 11/28)
Chapter 14
A Macro Theory of the Open Economy
299-320
Week 14 (11/29 – 12/5)
Chapter 15
Aggregate Demand and Aggregate Supply
323-359
Week 15 (12/6 – 12/12)
Chapter 16
Monetary and Fiscal Policy
361-384
Week 16 (12/16 – 12/23)
Final Exam
Syllabus
Econ. 104, Section 207
Fall 2010
4
Course Grades
Your work will be evaluated in this course in several different ways. On a weekly basis, you will be
expected to:
1. Complete the assigned readings for that week.
2. Read any additional articles posted to the course website (typically current articles from the
financial press of general interest).
3. Complete the on-line quiz for that week.
4. Complete a weekly assignment (generally based on the reading assigned for that week) and post
your answer to the course web site (the D2L Drop Box).
5. Comment on an item posted for discussion (usually from a “current event” in the US or world
economy).
6. Respond to at least one comment posted by a classmate in the week’s discussion forum.
In addition, there will be two conventional exams – a mid-term exam during the 8th week and a final
exam (covering all of the material in the course) at the end of the semester.
Your final course grade will be calculated as follows:
Activity
Points
Weekly, on-line quizzes
Weekly assignments
Weekly discussion participation
Mid-term exam
Final exam
140
280
140
200
240
Total
1,000
Final course grades will be assigned as follows:
A
900 to 1,000 points
B
800 to 899 points
C
700 to 799 points
D
600 to 699 points
F
599 or less points
Final Comments
It is important to note that this is not a SELF-PACED course. Each week you will be expected to: read
the assigned chapter(s) in the text and any other materials posted to the “Content” page for that week,
take the weekly quiz covering the assigned reading in the text, participate in the weekly discussion
forum, and complete the written assignment for that week. The specific assignments for any given week
will not be posted until just before the week that they are due. Thus it will not be possible for you to
work ahead (at least not beyond reading ahead in the text). Nonetheless, if you need to work ahead for
an important reason, please contact me regarding your assignments.
Finally, it is critically important that you complete all of your weekly assignments on time each
week. If you get behind (even a week or two behind, and stay behind), you are almost
Syllabus
Econ. 104, Section 207
Fall 2010
5
guaranteed not to earn a good grade in the course. On the other hand, if you do the work each
week, it is a good bet that you will do well in this course.
There may be changes to the course schedule as we proceed. Please check the course announcements
OFTEN for any updates and changes.
NOTE 1:
Please be advised that Econ. 104-208 has a special course fee of $275. This
course fee is assessed regardless of the number of credits you are enrolled in for this
semester.
NOTE 2:
You are protected by numerous university and department regulations.
Additional information regarding the campus policies and procedures applicable to this
course are available on-line (http://www.uwm.edu/Dept/SecU/SyllabusLinks.pdf).