Download Welcome to Principles of Macroeconomics

Econ 2101
Welcome to Principles of Macroeconomics
Hi Folks!
This is the first course in the study of how the overall economy works and what options there are to shape
the outcomes. Our central theme is what determines how much we produce, how many people are
employed, and what the price level is. These topics are in the news every day. We will use the tools of
economics to take an analytical look at these topics.
If you follow the US news, you have already heard a lot about macroeconomics. Since the Great
Recession began in December 2007, the economic news has been dominated by discussions of
problems in the financial industry, the housing bubble, the level of employment and unemployment, the
Fed and monetary policy, the federal debt, optimal tax rates, and the fiscal cliff. This course helps you
understand the economics at work in these important issues. With some work, the world will look
differently to you at the end of the course than it does at the beginning.
The more you know about current events, the more you will get out of the course. Consider reading the
Wall Street Journal, The Economist, or Business Week. You may also find segments of BBC News, PBS
News Hour (pbs.org/newshour) and Charlie Rose (charlierose.com) of interest.
This course uses graphs to show ideas, so the more you know and understand about graphs, the easier
this course will be. You are expected to know how to convert an equation into a graph, to convert a table
into a graph, and to use a graph to make inferences. You need to distinguish between independent and
dependent variables and apply that knowledge along with
economic theory to analyze situations. One place to start
Foundations of Economic Thinking
is Khan Academy which breaks the skills you need into
videos of no more than 10 minutes each. There is a list
• Scarcity and choice
of useful links on the Moodle2 site for this course if you
• Supply and demand
need to review.
The required textbook for this course is Principles of
Macroeconomics, edition 2.0, by Rittenberg and
Tregarthen. The text is published by Flat World
Knowledge, a company that is pioneering low-cost
textbook publishing. You have several options for
acquiring the text. These are explained at here. I have
no preference as to what format you purchase. You
know how you study best, so choose accordingly.
Macroeconomic Measures and Issues
•
•
•
Production and output
Real and nominal values
Inflation
Macroeconomic Policy
•
•
The Fed and monetary policy
Fiscal policy
This doesn't look like your usual syllabus, right? It has
all the usual syllabus content. I promise.
Investment
Try to forget your ideas about whether this course is
easy or difficult, fascinating or boring. Come see for
yourself!
International trade
Cheers,
Carol Swartz
C. Swartz
Syllabus
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Jan 14
Econ 2101
INSTRUCTOR
Dr. Carol Swartz
Office:
217 A Friday Building
Office Hours: Tu 2:00 – 4:30 pm; W 4:45 – 5:45 pm in CHHS 380
[email protected]
COURSE MATERIALS
This course uses Moodle2 for assignments and class communications.
The textbook is Principles of Macroeconomics, edition 2.0, by Rittenberg and Tregarthen. The text is
published by Flat World Knowledge, a company that is pioneering low-cost textbook publishing. You
have several options for acquiring the text. These are explained at here.
THIS IS YOUR EDUCATION.
You are beginning your transition from the academic world to your first career. It is important to your
future success that you build and strengthen habits of self-reliance. You gain nothing from being told the
answer. You must learn to work through problems on your own if you are to succeed. An employee who
repeatedly asks her supervisor what to do and what to decide will soon discover that it is easier for the
manager to do the work herself – without the employee. Independent workers are independent learners.
Giving a solution right away seldom helps the student and might create a false feeling of
understanding of the concepts involved. It is rightfully considered cognitive theft.
~ Shai Simonson,
Professor, Stonehill College
Learning is an inherently cumulative and self-managed activity. The ultimate goal of a college education
is to develop independent learning skills and to cultivate a desire for lifelong learning. You will likely face
several career changes, each presenting new challenges and requiring a new set of abilities. The most
important benefit that you can take from college is the ability and confidence to learn independently. It is
important to develop problem-solving skills, including the ability to:
 identify resources and leverage them to your benefit,
 identify your knowledge gaps and fill them, and
 evaluate the proposed solution for its correctness and relevance to the problem.
No purpose is served by requiring tasks based solely on memorizing material. The purpose of an
education is to expand your knowledge and your problem-solving skills.
Read and
Study
Learn and
Understand
Earn
High Grades
Be resourceful in trying to solve your problems before contacting the instructor. You may be asked to
explain the approaches you have already attempted.
C. Swartz
Syllabus
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Jan 14
Econ 2101
PATH TO SUCCESS: COURSE GROUND RULES
1. Attend class. This is the equivalent of showing up for work. It is necessary but not sufficient to learn
the material.
2. Be prepared for each class meeting. Before class, study the assigned material AND learn the
specialized vocabulary terms.
3. Stay for the entire class time. You may not go out and come back to class. You are expected to
refrain from side conversations during the class. Do not leave the class to visit the vending
machines, kill an enemy, check Facebook, rob a bank, try a new margarita recipe, or any other
reason. Your actions have consequences for you and for others, so limit your footprint, please.
4. The best practice is to refrain from using any electronic device during class. Taking notes by hand
facilitates learning. Cursive writing produces more retention than printing. There is sound research
to support this.
You may not use electronic devices during class. You may not take photos, check Facebook, record
the class, or any other use of electronics. That means no phones, no tablets, no laptops, no Cray
supercomputers, and no cameras.
It is never appropriate to use headphones during class.
5. You may not take pictures or make recordings of the lecture or other class work. These products are
the property of the instructor. Your notes are your products and you can do as you like with them
provided you do not create disincentives for class attendance.
6. No spitting.
7. If you miss a class, get the notes from a classmate. The instructor does not deliver instant replays or
even summary notes.
8. In addition to time spent in class, you should plan to spend at least 6 hours per week studying for
this course alone. Additional time will be required if your prerequisite skills are weak. Additional
time is also required to prepare for exams. If you are not prepared to devote this time, week after
week, reschedule this course for a semester when you have more time available.
9. Identify and correct any skill deficiencies related to this course. These skills may be the correct use
of capitalization and other grammatical conventions, arithmetic and algebraic facility, creating and
understanding graphs, or time management skills.
10. You are responsible for solving your own IT problems. If something is not working on your phone,
Mac, or tablet, try a Windows computer. Use Firefox as your browser. If you continue to have
difficulty, call the help desk at 7 – 6400.
C. Swartz
Syllabus
Page 3 of 6
Jan 14
Econ 2101
UNIVERSITY POLICIES
It is your responsibility to be fully and accurately informed of University policies, including, but not limited
to, rules regarding dropping and adding courses, graduation requirements, and student conduct. The
Dean of Students Office is the authoritative source for these policies.
The UNC Charlotte Code of Student Academic Integrity will be actively enforced in this course. The code
forbids cheating, fabricating or falsifying information, submitting academic work for multiple requirements,
plagiarizing, abusing academic materials, and complicity in academic dishonesty. Be sure you know the
meaning of these terms. "I didn't think THAT was plagiarizing." is not an acceptable defense. Any
special requirements or permissions regarding academic integrity will be stated by the instructor and are
binding on you. You are expected to report cases of academic dishonesty to the course instructor.
If you have a disability that affects your ability to do the work in this course, please contact the Office of
Disability Services to obtain a Letter of Accommodation. The office is 230 Fretwell; phone 7.4355.
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.
GRADES
Grades will be based on the following events:
 Hour exam (4 exams, 100 points each)
 Quizzes for each chapter in Moodle (120 points total)
 A cumulative final exam (200 points)
Exams: Barring Acts of God or University closure, the exams will be given on the date scheduled. If an
exam is not given on the date scheduled, it will be given in the next class meeting. Prepare in advance for
challenging circumstances such as having exams in other courses on the same day.
Students who arrive late for tests and/or the final examination will be permitted to sit the test or exam
provided that no student has turned in their paper prior to the student’s arrival. Once a paper has been
turned in, late arriving students will not be permitted to begin the test or exam. A student who begins a
test or exam late will be required to turn in the exam at the end of the regular exam period..
All students are required to take the final exam. It is a comprehensive, cumulative, all-inclusive exam
covering all the material from this course.
Grade Replacement Policy: The final exam is divided into five sections, one for the material covered by
each of the four hour exams. If your grade on a section of the final is greater than your grade on the
corresponding hour exam, the grade from the final will be substituted for the hour exam grade. There is
no limit on the number of substitutions allowed with the exception of the missed exam provision above.
This system rewards students who learn and retain the material by the end of the semester.
C. Swartz
Syllabus
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Jan 14
Econ 2101
Quizzes: All quizzes will be in Moodle 2. They must be completed as indicated on the assignment in
Moodle, typically by 11:55 pm the night before the exam. Each quiz is 10 multiple choice questions with
four possible answers each. Your highest score for three attempts is the only score counted.
Your will drop the two lowest quiz scores for the semester. Quizzes are not subject to grade replacement.
Each student is expected to complete the quizzes on their own without the use of printed
materials, web sites, class notes or help from another person. Violations of this constitute an
Honor Code offense.
Extra Credit: Extra credit opportunities may be available from time to time at the discretion of the
instructor.
Missed Exams: If you miss any exam for any reason, you will be given a grade of 0 for that exam. If you
arrive too late to take the exam, you will be given a grade of 0 for that exam. The missed exam will be
subject to the grade replacement policy described above.
Course Grades: Grades will be assigned based on your course points according to the following scale:
Course Grade
Cumulative Points
A
B
C
D
F
648 or more
576 -- 647
504 – 575
432 – 503
Less than 432
COURSE SCHEDULE
Date
Day
Jan 9 Th Chapter 1: Introduction to Economics
Jan 14 T Chapter 2: Production Options
Jan 16 Th Chapter 2: Production Options
Jan 17 F Last day to add a class Jan 21 T Chapter 3: Demand and Supply
Jan 23 Th Chapter 3: Demand and Supply
Jan 28 T Chapter 3: Demand and Supply; Chapter 4: More Demand and Supply
Jan 30 Th Chapter 4: More Demand and Supply
Feb 4 T Exam 1
Feb 6 Th Chapter 5: Introduction to Macroeconomics
Feb 11 T Chapter 5: Introduction to Macroeconomics
C. Swartz
Syllabus
Topic
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Econ 2101
Date
Day
Feb 13 Th Chapter 6: Measuring Production and Income
Feb 18 T Chapter 7: Aggregate Demand and Aggregate Supply
Feb 20 Th Chapter 7: Aggregate Demand and Aggregate Supply
Feb 25 T Exam 2
Feb 27 Th Chapter 8: Economic Growth
March 4 T No class
March 6 Th No class
March 11 T Chapter 9: Money
March 13 Th Chapter 9: Money
March 18 T Chapter 10: Financial Markets and the Economy
March 20 Th Chapter 10: Financial Markets and the Economy
March 25 T Exam 3
March 26 W Last day to drop
March 27 Th Chapter 11: Monetary Policy and the Fed
April 1 T Chapter 11: Monetary Policy and the Fed
April 3 Th Chapter 12: Government and Fiscal Policy
April 8 T Chapter 12: Government and Fiscal Policy
April 10 Th Chapter 14: Investment and Economic Activity
April 15 T Chapter 14: Investment and Economic Activity
April 17 Th Exam 4
April 22 T Chapter 15: Net Exports and International Finance
April 24 Th Chapter 15: Net Exports and International Finance
April 29 T Review
April 30 W Reading Day May 6 T Final exam. Check the University Calendar for time and location. C. Swartz
Syllabus
Topic
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Jan 14