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ECON 2101-007: PRINCIPLES OF MACROECONOMICS Syllabus for Fall 2015 3:30 p.m. – 4:45 p.m. MW Friday 142 Instructor Rob Roy McGregor 227C Friday Building Phone 704-687-7639 Email [email protected] Office Hours 2:30 p.m. – 3:15 p.m. MW & 4:45 p.m. – 5:30 p.m. MW If the hours established are not convenient, feel free to make an appointment with me for another time or to stop by at another time when I am in the office. Textbook The required textbook for this course is Principles of Macroeconomics, v. 2.1, by Libby Rittenberg and Timothy Tregarthen (Washington, DC, Flat World Knowledge, 2014). The appropriate readings for each topic are indicated on the course schedule at the end of the syllabus. Course Objectives Macroeconomic analysis is the study of a nation’s economy as a whole. It involves analysis of the factors that affect aggregate output and income, employment and unemployment, inflation, and economic growth. ECON 2101 provides (1) a foundation in basic economic analysis and (2) a framework for thinking about the effects that significant economic shocks and policy actions may have on the domestic and international business environments. Means of Student Evaluation Your grade in this course will be determined by your performance on 10 short quizzes, 3 tests, and a comprehensive final examination. These components will be weighted as follows: 1% for each of the 10 short quizzes, 20% for each of the 3 tests, and 30% for the comprehensive final examination. As a general rule, make-up quizzes and tests will not be given. The weight of missed quizzes and missed tests will be added to the weight of the comprehensive final examination. The quizzes will include both multiple-choice questions and short-answer questions. The tests and the comprehensive final examination will include only multiple-choice questions. Letter grades for the course will be based on the following scale: A B C D F 90% and above 80%-89.99% 70%-79.99% 60%-69.99% below 60% NOTE WELL: Grades will be based solely on your performance on the 10 short quizzes, the 3 tests, and the comprehensive final examination. Individual extra credit assignments will NOT be made. 1 Attendance Regular attendance is expected and should be considered essential to satisfactory performance in this course because not all of the material presented in class will be found in the required textbook. You are responsible for this material and for any other work that you miss because of an absence from class. Academic Integrity Students are required to abide by the UNC Charlotte Code of Student Academic Integrity. Violations of the Code will result in disciplinary action as provided in the Code. The Code is available from the Dean of Students Office or online at http://legal.uncc.edu/policies/up-407. Disability Accommodations UNC Charlotte is committed to access to education. If you have a disability and need academic accommodations, please provide a letter of accommodation from the Office of Disability Services early in the semester. For more information about accommodations, you may contact the Office of Disability Services at 704-687-0040 or visit the Office of Disability Services itself in Fretwell 230. Other The standards and requirements set forth in this syllabus may be modified at any time by the course instructor. Notice of such changes will be by announcement in class and by email. On any given class day, if I am more than 15 minutes late for class and you have received no notification from me to the contrary, you may assume that class is canceled. The Belk College of Business strives to create an inclusive academic climate in which the dignity of all individuals is respected and maintained. Therefore, we celebrate diversity that includes but is not limited to ability/disability, age, culture, ethnicity, gender, language, race, religion, sexual orientation, and socioeconomic status. 2 Course Schedule All of the readings listed on the course schedule below are from the Tregarthen and Rittenberg textbook. Date Topics Readings August 26 Course Requirements, Policies, & Procedures Course Overview Chapter 1, “Economics: The Study of Choice” August 31 Basic Economic Concepts: Part I Chapter 2, “Confronting Scarcity: Choices in Production” September 2 Basic Economic Concepts: Part II Chapter 2, “Confronting Scarcity: Choices in Production” Quiz #1 September 7 Labor Day Holiday No Class September 9 Demand, Supply, & Price Determination: Part I Chapter 3, “Demand and Supply” Quiz #2 September 14 Demand, Supply, & Price Determination: Part II Chapter 3, “Demand and Supply” September 16 Applications of Demand-Supply Analysis Chapter 4, “Applications of Demand and Supply” Quiz #3 September 21 Measuring Economic Performance: Part I Chapter 5, “Macroeconomics: The Big Picture” September 23 Test #1 None September 28 Measuring Economic Performance: Part II Chapter 6, “Measuring Total Output and Income” September 30 National Income & Price Determination: Part I Chapter 7, “Aggregate Demand and Aggregate Supply” Quiz #4 October 5 National Income & Price Determination: Part II Chapter 7, “Aggregate Demand and Aggregate Supply” October 7 Economic Growth Chapter 8, “Economic Growth” Quiz #5 October 12 Fall Break No Class October 14 Money & Banking: Part I Chapter 9, “The Nature and Creation of Money” Quiz #6 3 October 19 Money & Banking: Part II Chapter 9, “The Nature and Creation of Money” October 21 Financial Markets & the Economy: Part I Chapter 10, “Financial Markets and the Economy” Quiz #7 October 26 Financial Markets & the Economy: Part II Chapter 10, “Financial Markets and the Economy” October 27 Last Day to Withdraw from Courses Grade Subject to Withdrawal Policy October 28 Test #2 None November 2 The Federal Reserve & U.S. Monetary Policy: Part I Chapter 11, “Monetary Policy and the Fed” November 4 The Federal Reserve & U.S. Monetary Policy: Part II Chapter 11, “Monetary Policy and the Fed” Quiz #8 November 9 Fiscal Policy: Part I Chapter 12, “Government and Fiscal Policy” November 11 Fiscal Policy: Part II Chapter 12, “Government and Fiscal Policy” Quiz #9 November 16 Inflation & Unemployment: Part I Chapter 16, “Inflation and Unemployment” November 18 Inflation & Unemployment: Part II Chapter 16, “Inflation and Unemployment” November 23 Test #3 None November 25 Thanksgiving Break No Class November 30 Macroeconomic Thought & Policy in Historical Perspective: Part I Chapter 17, “A Brief History of Macroeconomic Thought and Policy” December 2 Macroeconomic Thought & Policy in Historical Perspective: Part II Chapter 17, “A Brief History of Macroeconomic Thought and Policy” Quiz #10 December 7 Review None December 9 Review None December 16 Comprehensive Final Examination 2:00 p.m. – 4:30 p.m. 4