Download THIS SYLLABUS IS FOR USE DURING THE FIRST DAY OF CLASS.... THE SYLLABUS ON BLACKBOARD. IT IS THE OFFICIAL SYLLABUS.

THIS SYLLABUS IS FOR USE DURING THE FIRST DAY OF CLASS. ALWAYS CONSULT
THE SYLLABUS ON BLACKBOARD. IT IS THE OFFICIAL SYLLABUS.
Principles of Macroeconomics - CRN: 94202
Fall 2015
Mondays & Wednesdays - 3:30 - 4:45 p.m. - Rowell 103
Instructor: Professor Shirley Gedeon
Office Hours: 2 - 3:15 MW in 337 Old Mill Building or by appointment
Email: [email protected]
Website: uvm.edu/~sgedeon
Teaching Assistant: Nick DeMassi
Office Hours: Economics Dept. Old Mill
Email: [email protected]
Required Texts:
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Macroeconomics, Campbell McConnell, Stanley Brue & Sean Flynn, 20th edition
o ISBN - 13-9780077660772
o used, rental, loose-bound are all ok
o 19th edition ok but note: it has different chapter numbering and lacks one of the
assigned chapters.
The Worldly Philosophers, Robert Heilbroner
o ISBN 13-978-0684862149
o Used definitely recommended
A copy of Macroeconomics, 20th edition is on 24 hour reserve at the Bailey-Howe Library
Course Requirements:
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3 Midterm Exams - 60% of grade (written and graded exclusively by Professor)
Comprehensive Final Exam - 20% of grade (written and graded exclusively by Professor)
4 Essay assignments from The Worldly Philosophers and one homework set - 20% of
grade (graded primarily by Teaching Assistant)
Classroom Etiquette & Policies
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In class, address the professor as "Professor Gedeon"
In emails, just start off with "Dear Professor Gedeon"
It's a large auditorium, but I want to answer questions. I will do my very best to move
around the room to make it easier to hear your questions
I welcome and respect all political and economic points of view and expect all students to
do likewise
Professor Gedeon writes and grades all exams. You have the right to petition grading on
any question on any exam. Protocol for submitting petitions will be discussed in class
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Nick DeMassi grades all Heilbroner assignments. You have the right to petition grading
on any homework assignment. Protocol for submitting petitions will be discussed in class
Homework is due on the day assigned and is submitted only as an attachment via the
Homework Drop Box
Syllabus
Part I: Describing an Economy: The Terms, Concepts, Approaches of Economics
8/31 - 9/2: Market System & Circular Flow
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Read Chs. 1 & 2 of Macroeconomics
Read Worldly Philosophers, "Introduction" and "The Economic Revolution"
Worldly Philosophers Essay I - Due: 9/11 via Homework Drop Box
9/9 - 16: Supply & Demand
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Read Chs. 3 and appendix in Macroeconomics
Read Worldly Philosophers, "The Wonderful World of Adam Smith"
Worldly Philosophers Essay II - Due: 9/23 via Homework Drop Box
Midterm I: Chs. 1 - 3 & appenxix: 9/21
This will be a 50-question multiple choice exam. To prepare you should print out and
complete the 3 study guide chapters, practice answering the multiple choice questions using
the test bank, and review all terms, graphs, and concepts presented in the textbook and in
class.
9/23 - 10/5: Measuring GDP, Unemployment, & Inflation
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Read Chs. 6 - 9 in Macroeconomics
Read Heilbroner, "The Gloomy Presentiments of Parson Malthus & David
Ricardo" OR "The Inexorable System of Karl Marx" Your choice!
Worldly Philosophers Essay III - Due 10/9 via Homework Drop Box
View and take notes on: How the New Economy
Works, http://www.pbs.org/now/fixing-the-future/economics.html
§ Jobs and the New Economy
§ Well-Being and the New Economy
§ Growth and the New Economy
Midterm II: Chs. 6 - 9: 10/7
This will be a 50-question multiple choice exam. To prepare you should print out and
complete the 4 study guide chapters, practice answering the multiple choice questions using
the test bank, and review all terms, graphs, and concepts presented in the textbook and in
class. You must especially know how to calculate GDP from both the income and
expenditure approaches, use the CPI, know how to calculate unemployment rates
Part II: Building a Mathematical Model of the Economy: Keynesian Cross and Aggregate
Demand & Supply Models
10/12 - 21: Keynesian Cross & Spending Multipliers
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Read Chs. 10 & 11 in Macroeconomics
Homework Set Due 10/26 in class
10/26 - 11/2 Aggregate Demand & Supply
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Read Ch. 12 in Macroeconomics
11/4 - 11 Fiscal Policy, Government Debt, Budget Deficits
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Read Ch. 13 in Macroeconomics
Midterm III: Chs. 10 - 13: 11/18
Part IV: Money, Banking, and Monetary Policy
11/16: Money, Banking & Financial Institutions
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Read Ch. 14 in Macroeconomics
Watch video: The Federal Reserve.
§ http://www.havefunwithhistory.com/movies/fedReserve.html
Read Heilbroner, "The Heresies of John Maynard Keynes"
Worldly Philosophers Essay IV - Due: 11/20 via Homework Drop Box
11/30 - 12/2: Money Creation and the Multiplier
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Read Ch. 15 in Macroeconomics
12/7 - 9: Monetary Policy, The Financial Crisis of 2007-09 & its Management
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Read Ch. 16 in Macroeconomics
Read "Why Are Banks Holding So Many Excess Reserves"
§ http://www.frbsf.org/education/publications/doctorecon/2010/march/banks-excess-reserves-monetary-policy
Watch Richard Wolff, "Capitalism Hits the Fan"
§ go to "Course Materials" to see the Video
Midterm IV: Chs. 14 - 16: Held during finals week
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The exam will cover content in all assigned chapters from McConnell/Brue and all content
presented in class: lectures, handouts, and PowerPoint presentations. This includes
Chapters 1-3; 6-16.
Special emphasis will be on the last 3 chapters
You will receive a essay assignment 10 days prior to the final exam that will cover
material on the financial crisis of 2007-09. This essay assignment must be brought to
class in order to receive the multiple-choice part of the last exam.
No exceptions will be made