Download Principles of Macroeconomics UVM EC11 Z/SUMMER 2015

Course Syllabus:
Principles of Macroeconomics
UVM EC11 Z/SUMMER 2015
JUN 16-JUL 10/1:00-4:45(TWR)/LAFAYETTE 411
Prof: John F. Summa, PhD.
Office: Old Mill, Rm. 229
Office Hours: TBA (or by appointment)
Phone: (802) 846-7509 (c)
E-mail: [email protected]
Required Text:* Principles of Macroeconomics (4th edition), Stiglitz and
Walsh.
* This edition must be purchased in addition to the companion study
guide and access to the SmartWork online study/exercise suite. The
package is not available in UVM's bookstore. New and used editions may
is available through a number of online book vendors, such as Amazon.com
and CampusBooks.com for very little money. If you buy a used copy at UVM
or elsewhere (or acquire a new copy online), you will need to purchase
the SmartWork online study/exercise suite (see below for link).
SmartWork Purchase Link: http://books.wwnorton.com/books/cart.aspx
SmartWork Login Link: http://smartwork.wwnorton.com/sw/login/index.php
E-Book Version:** E-Book versions of the main text and study guide are
available for half the price. Visit the following link to purchase:
http://books.wwnorton.com/books/detail.aspx?Id=22674
** Please note: SmartWork is not included with e-Book purchases.
Author website: http://www.josephstiglitz.com
Course Objectives/Overview: Principles of macroeconomics is an
introduction to the study of total employment and general price levels
throughout the economy. Macroeconomics is not concerned with individual
or industry level employment and prices. Instead, the focus is on the
national or aggregate level (all industries and all individuals). The
course also provides a basic understanding of the laws of supply and
demand in a market system, and develops a model of the national economy
that allows for developing policies aimed at maintaining stable prices
and full employment levels. Specific topics related to macroeconomic
issues will be covered, as well.
Learning Methodology:
Class lectures will follow closely the required text, Principles of
Macroeconomics (4th edition), Stiglitz and Walsh. This edition provides
all the essentials for an introduction to the key concepts and practical
applications of macroeconomics. As each chapter is covered, exercises
will be assigned directly from the text vis-a-vis SmartWork, which will
be completed online. Any datasets required for exercises will be
provided by the instructor if not available in the required text.
Course Outline:***
I. Introduction to Macroeconomics:
Chapter
Chapter
Chapter
Chapter
Chapter
1:
2:
3:
4:
5:
Macroeconomics and the Economic Perspective
The Price System
Households and Firms in the Labor and Capital Markets
Measurement of Economic Output and Unemployment
The Cost of Living and Inflation
II. Full-Employment Macroeconomics:
Chapter
Chapter
Chapter
Chapter
Chapter
6: The Full-Employment Model
7: Government Finance at Full Employment
8: The Open Economy at Full Employment
9: Economic Growth
10: Money, the Price Level and the Federal Reserve
III. Macroeconomic Fluctuations:
Chapter
Chapter
Chapter
Chapter
Chapter
11:
12:
13:
14:
15:
Introduction to Macroeconomic Fluctuations
Aggregate Expenditures and Income
Aggregate Demand and Inflation
The Federal Reserve and Interest Rates
The Role of Macroeconomic Policy
IV. The Global Economy:
Chapter
Chapter
Chapter
Chapter
16:
17:
18:
19:
International Trade and Trade Policy
The International Financial System
Policy in the Open Economy
Development and Transition
IV. Further Topics in Macroeconomics:
Chapter 20: Inflation and Unemployment
Chapter 21: Controversies in Macroeconomic Policy
Chapter 22: A Student’s Guide to Investing
*** The instructor reserves the right to alter the course outline and
course requirements at any time.
Grading Policy: Grades will be based on two mid-term exams (25% each), a
final exam (25% and non-cumulative), and SmartWork homework
assignments/exercises and any in-class quizzes (25%). Occasional
surprise quizzes may be given and will count toward your homework grade.
Attendance Expectations: You are required to attend every class and will
be held responsible for material presented in class. Exams will be based
on readings/exercises and material presented in lectures. If you miss
class, it is your responsibility to acquire the material presented and
assigned in that class.
Electronic Devices: No electronic devices are allowed to be used during
lectures unless pre-arranged with the instructor.
Email Policy: The instructor cannot guarantee a timely response to email inquiries and other forms of electronic communication in terms of
any course requirement deadlines within 24 hours of receipt. Generally,
however, I respond immediately via Smart phone email/text. Blackboard
will be utilized only when necessary and should not become a substitute
for attending class. Instructor office hours should be utilized to get
timely answers to urgent questions.
UVM Code of Academic Integrity: Violations of the UVM's Code of Academic
Integrity are any acts which would have the effect of unfairly promoting
or enhancing one's academic standing within the entire community of
learners. Such acts are serious offenses and will not be tolerated. Any
suspected violations of the Code will be forwarded to the Center for
Student Ethics & Standards.
UVM Diversity Statement: The University of Vermont holds that diversity
and academic excellence are inseparable. An excellent university,
particularly one that is a public land grant, needs to actively seek to
provide access to all students who can excel at the institution, without
respect to their backgrounds and circumstances, including, among other
differences, those of race, color, gender, gender identity or
expression, sexual orientation, national and ethnic origin, socioeconomic status, cultural and/or geographic background, religious
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interest in a higher education sector rich in diversity and opportunity,
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diversity and opportunity accessible to all.