Download Principles of Macroeconomics Prof. Jane Knodell Economics 11 Section B Fall 2015

Principles of Macroeconomics
Economics 11 Section B Fall 2015
Office hours: Thursdays 1-4
Prof. Jane Knodell
656-0189; [email protected]
336 Old Mill
SYLLABUS
This course is an introduction to the study of the aggregate or “macro” economy. The
course is divided into three parts. The first part of the course reviews the basic
institutions of the mixed economy and measures of national economic performance.
The second part of the course develops a model of the real side of the macroeconomy
which is used to determine the level of national income and employment, and to explain
how fiscal policy works. The third part of the course develops a model of the “money
market” which is used to how monetary policy affects real output and employment
levels.
Students should purchase the textbook, Macroeconomics in Modules, by Paul Krugman
and Robin Wells, 3rd edition. Outside readings will be posted in Blackboard.
Course requirements consist of:
 5 homework sets (together accounting for 25% of the final grade);
 two midterm exams (each counting 25%);
 and a final exam (also counting 25%).
In addition, quizzes will be administered periodically through Blackboard. Quizzes are
optional and non graded; they are opportunities for you to test your understanding of
the material, and to give me feedback on your understanding of the material.
MIDTERM EXAM DATES: FRIDAY, OCTOBER 2 AND FRIDAY, NOVEMBER 13.
Please make any necessary arrangements NOW to make yourself available at these
times. It will not be possible to schedule exams outside of these times except for
Access students and cases of documented illness.
FINAL EXAM: MONDAY, DECEMBER 14, 10:30 – 1:15, WILLIAMS 301. Please
make any necessary arrangements NOW to make yourself available at this time.
Again, it will not be possible to schedule the final exam outside of this time except for
Access students and cases of documented illness.
EXTRA HELP
There is an Undergraduate Teaching Assistant for this class, Mr. Julian Becker.
This is an important opportunity to get extra help with difficult concepts outside of class.
Mr. Becker will be holding weekly office hours at days and times to be announced.
He will also be holding review sessions prior to each exam, at dates identified in the
syllabus; locations and times to be announced.
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Reading List/Schedule of Lectures:
Part One: The Mixed Economy & Measures of National Economic Performance
August 31, Sept 2, 4
Sept 7: No class
Sept 9, 11
Sept 14, 16, 18
Sept 14
Sept 18
Sept 21, 23
Sept 25, 28
Sept 25
Sept 30
Sept 30
October 2
Introduction to
Macroeconomics
Social Trade-Offs and the
Production Possibilities
Frontier
Labor Day
Gross Domestic Product
Saving and Investment
Real vs Nominal Gross
Domestic Product
Critiques of GDP;
alternatives
First homework set handed
out
First homework set due
Measuring inflation
Unemployment and
Inflation
Long Run Economic
Growth
Second homework set
handed out
Second homework set due
Review Session for 1st
Midterm
FIRST MIDTERM
Modules 9, 10, 2
Modules 11, 12
Module 20
Modules 13-16
Modules 17-19
Part Two: Income Determination and Macroeconomic Policy
October 5, 7, 9, 12, 14
October 16, 19, 21
October 16
October 21
October 23, 26
Income determination using Modules 24-26
the expenditure equilibrium
model
Fiscal Policy
Modules 30-32
Third homework set
handed out
Third homework set due
Money, Banking, and the
Modules 33, 35
Federal Reserve
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October 28, 30
November 2, 4, 6, 9
November 6
Money Creation
Monetary Policy
Fourth homework set
handed out
Fourth homework set due
Review Session for 2nd
Midterm
SECOND MIDTERM
November 11
November 11
November 13
Module 34
Modules 36-38
Part Three: Topics in Macroeconomics
November 16, 18
November 20
November 23-27
November 30
Social Security
The national debt
Thanksgiving break
International trade and
finance
December 2, 4, 7, 9
The Financial System and
Financial Crises
December 4
Fifth homework set handed
out
December 9
Fifth homework set due
December 9
Review Session for 3rd
Exam
MONDAY, DECEMBER 14, FINAL EXAM
10:30 – 1:15, WILLIAMS
301
Modules 30, 32
Modules 43-46
Modules 23, 42
Schedule of Homeworks
Homework #
1
2
Topic
Production
Possibility Frontier,
Measures of macro
performance (GDP,
unemployment,
inflation, growth)
Measures of macro
performance
(unemployment
inflation, growth)
Date Assigned
Sept 14
Date Due (in class)
Sept 18
Sept 25
Sept 30
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3
4
5
The IncomeExpenditure
Model and Fiscal
Policy
Money creation and
monetary policy
Debts, deficits, and
financial crises
Oct 16
Oct 21
Nov 6
Nov 11
Dec 4
Dec 9
Student Responsibilities and Rights
Student Learning Accommodations: In keeping with University policy, any student with
a documented disability interested in utilizing accommodations should contact
ACCESS, the office of Disability Services on campus. ACCESS works with students to
create reasonable and appropriate accommodations via an accommodation letter to
their professors as early as possible each semester.
Contact ACCESS: A170 Living/Learning Center; 802-656-7753; [email protected];
www.uvm.edu/access
UVM’s policy on disability certification and student support:
www.uvm.edu/~uvmppg/ppg/student/disability.pdf
Religious Holidays: Students have the right to practice the religion of their choice. If you
need to miss class to observe a religious holiday, please submit the dates of your
absence to me in writing by the end of the second full week of classes. You will be
permitted to make up work within a mutually agreed-upon time.
Academic Integrity: The policy addresses plagiarism, fabrication, collusion, and
cheating. http://www.uvm.edu/~uvmppg/ppg/student/acadintegrity.pdf
Grade Appeals: If you would like to contest a grade, please follow the procedures
outlined in this policy: http://www.uvm.edu/~uvmppg/ppg/student/gradeappeals.pdf
Grading: For information on grading and GPA calculation, go to
www.uvm.edu/academics/catalogue and click on Policies for an A-Z listing.
Code of Student Rights and Responsibilities:
www.uvm.edu/~uvmppg/ppg/student/studentcode.pdf
FERPA Rights Disclosure: The purpose of this policy is to communicate the rights of
students regarding access to, and privacy of their student educational records as
provided for in the Family Educational Rights and Privacy Act (FERPA) of 1974.
http://www.uvm.edu/~uvmppg/ppg/student/ferpa.pdf
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