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THE UNIVERSITY OF TORONTO AT SCARBOROUGH
ECM B06 – Lec01 & 02
Macroeconomic Theory and Policy: A Mathematical Approach
Fall 2009
Instructor
Jack Parkinson
Office: MW-380
Tel: 287-7339
Email: [email protected]
Office Hours: Mondays & Tuesdays 12:30 – 1:30 pm
Class
Lecture Section 01: Mondays 9 – 12 noon in MW-170
Lecture Section 02: Tuesdays 9 – 12 noon in MW-160
Required Text
Macroeconomics: Canadian Edition (3rd Edition, updated), 2008.
By Gregory Mankiw and William Scarth (Worth Publishers)
Evaluation and Outline
Two assignments (10% each):
Midterm Exam:
Final Exam:
20%
30%
50%
Topics Covered Include:
1.
3.
5.
6.
7.
National Income Accounting
2.
The very long run growth model
Aggregate Demand in a closed economy
4.
Aggregate Supply
Equilibrium (Aggregate Supply and Aggregate Demand)
Once and for all price level changes versus inflation
Equilibrium in an open economy
8. Government budget deficits
Comments
Our term test and the final exam, will emphasize applied and theoretical macroeconomic
problem solving rather than definitions or essays. Test questions will focus on lecture
notes and assigned questions from the textbook. The course will cover much of the same
topics as ECMB05H, but will employ techniques involving calculus so as to make the
theory clearer to students.
Students who miss the mid-term (for any reason) will have the entire weight
transferred to the final exam. Students are strongly encouraged to write the midterm
exam so that they can evaluate their progress and act accordingly.
The mid-term exam covers the material in the first part of the course while the final
exam covers the material from the entire course.
NOTE: Any student whose score on the final is 10% (or more) higher than that
they received on the midterm will have the final count for 80% of the course
(the assignments count for the other 20%). This deal does NOT apply to
deferred exams.
Students with a disability/health consideration are encouraged to approach me and/or the
AccessAbility Services Office @ 287-7560. They can also drop by the office, S302B,
inside the Resource Centre. The Coordinator is available by appointment to assess
specific needs, provide referrals and arrange appropriate accommodations.
Re-grading Policy
If, after looking over your grade for your test, you feel that your work merits re-grading,
you must observe the following procedures:
•
Submit your re-grading requests within one week of receipt (date of distribution) of the
original grade. No re-grading requests will be considered after the time limit has
passed.
•
The re-grading request will include a typed or neatly hand written note containing
the following: (i) your name; (ii) your student number; (iii) the question number you
believe was graded incorrectly; and (iv) an explanation of why you feel your material is
correct. The note must be attached to your examination (either on cover page;
stapled to the exam; or via a paperclip with you full name and student number on
it in case it becomes separated).
The TA or the Professor will re-grade the entire test. Re-grading means that your
test/answer will be re-evaluated and a new grade may be assigned. This means that
it is possible to lose points as well as to gain points through re-grading.
Please do not submit your materials for re-grading unless you are highly confident that a
grading error occurred. Keep in mind that the re-grade is meant for mistakes in grading. It
is not a forum for arguing about the answers or the criteria used, or the points allocated to
the criteria.
If you are going to submit your exam for re-grade, do NOT write on your exam or
alter it in ANY way. If you do so, this may be considered a violation of the Academic
Regulations and Code of Student Conduct.
Addition errors only. If there is an error in totaling up your score, you may write this on
the cover of your test. Indicate what you think the total should be and return it to me as
soon as possible.
Important Dates
Last day to add Fall (F) courses: Sept. 23rd
Midterm exam:
TBA
Last day to drop Fall (F) courses without academic penalty:
Study Break:
Dec. 4th – 6th
FINAL EXAM PERIOD: Dec. 7th – 18th
Nov. 18th
Macroeconomics ECM B06 H3
Week
1
Topic
Introduction
National Income Accounting
Price Indexes (Inflation) and Unemployment
3rd Ed
1&2
Classical Theory: The Closed Economy in the Long-Run & Very Long-Run
2
National Income: Sources and Uses
3
3
Very Long-Run Economic Growth: The Basics
7
4
Very Long Run Economic Growth: Other Issues
8
Classical Theory: Money and Unemployment
5
Relationship Between Money, Prices & Inflation
4
6
Unemployment
6
7
Open Economy Issues
5
Classical Theory: The Open Economy in the Long-Run
8
Aggregate Demand (The IS/LM Curves)
10
Business Cycle Theory: The Economy in the Short-Run
9
Short Run (General) Equilibrium
Explaining Sources of Economic Fluctuations
11
10
Short Run Economic Fluctuations: The Basics
9
11
Aggregate Demand in the Open Economy
12
12
Aggregate Demand in the Open Economy
12 &
Review
FINAL EXAM PERIOD