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Stevens Institute of Technology
Howe School of Technology Management
Syllabus
BT 243
Macroeconomics
Richard Anderson
[email protected]
Year: 2014
Overview
This course provides an introduction to the theory and analysis of the determination of
the levels of national income and employment, fluctuations in income, monetary and
fiscal policy, inflation and growth. The tools of macroeconomic analysis will be
developed and applied to national economic problems facing the U.S. and other marketoriented economies. Understanding underlying economic issues, economic policies and
their probable consequences is a focal point of this course.
Prerequisites: None
Relationship of Course to Rest of Curriculum
Mgt 243 is a required course in the undergraduate Business and Technology Program and
an elective in the undergraduate engineering curriculum.
Learning Goals
After successfully completing this course, students will be able to
 Articulate the core economic principles, concepts and theories that form the
foundation of modern economic analysis.
 Apply critical thinking and quantitative reasoning to real world problems and
evaluate alternative economic policy proposals on macroeconomic issues.
 Explain macroeconomic concepts including national income accounting,
inflation, unemployment, and the monetary system
 Utilize knowledge of the global economy, including the international monetary
system, trade and exchange rates to analyze the economic implications of
alternative trade policies on domestic macroeconomic policy issues.
 Critically evaluate the consequences of macroeconomic policy options under
differing economic conditions within a business cycle

Discuss the linkages between financial markets and the real economy, and how
these linkages influence the impact of economic policies.
Pedagogy
The course employs lectures, class discussions of current economic events, in-class
problem solving exercises, myeconlab and exams.
Required Text(s)
Principles of Macroeconomics by Karl Case, Ray Fair and Sharon Oster, 10th edition.
Pearson Prentice Hall (2012). ISBN-10: 0131391402
ISBN-13: 9780131391406
MyEconLab
There will be 10 homework assignments on myeconlab. Students must log in at the
beginning of the semester to access each assignment.
Assignments
Readings and problems are assigned each week. Students must come to class prepared to
discuss and to participate fully in class discussion.
Assignment
Exam #1
Exam #2
Exam #3
Myeconlab assignments
Total Grade
Grade
Percent
25%
25%
25%
25%
100%
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Ethical Conduct
The following statement is printed in the Stevens Graduate Catalog and applies to all
students taking Stevens courses, on and off campus.
“Cheating during in-class tests or take-home examinations or homework is, of course,
illegal and immoral. A Graduate Academic Evaluation Board exists to investigate
academic improprieties, conduct hearings, and determine any necessary actions. The
term ‘academic impropriety’ is meant to include, but is not limited to, cheating on
homework, during in-class or take home examinations and plagiarism.“
Consequences of academic impropriety are severe, ranging from receiving an “F” in a
course, to a warning from the Dean of the Graduate School, which becomes a part of the
permanent student record, to expulsion.
Reference:
The Graduate Student Handbook, Academic Year 2003-2004 Stevens
Institute of Technology, page 10.
Consistent with the above statements, all homework exercises, tests and exams that are
designated as individual assignments MUST contain the following signed statement
before they can be accepted for grading.
____________________________________________________________________
I pledge on my honor that I have not given or received any unauthorized assistance on
this assignment/examination. I further pledge that I have not copied any material from a
book, article, the Internet or any other source except where I have expressly cited the
source.
Signature ________________
Date: _____________
Please note that assignments in this class may be submitted to www.turnitin.com, a webbased anti-plagiarism system, for an evaluation of their originality.
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Course Schedule
Week
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Topic Covered/Readings/Assignments
Introduction: The Economics Toolkit- the nature and method of economics
The Economic Problem - The concept of scarcity and the production
possibility model
Understanding Individual Markets: Supply and Demand Analysis
Applications of the Supply and Demand Model
Introduction to Macroeconomics - recent macroeconomic history
National Income accounting
Unemployment and Inflation
The Keynesian Income and Expenditure Model
Fiscal Policy
Monetary Policy and the Federal Reserve System
The Demand for Money and the Equilibrium Interest Rate
The Aggregate Supply and Demand Model
Open Economy Macroeconomics - exchange rates and comparative
advantage
Open Economy Macroeconomics – the International Financial System
Final exam
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