Syllabus
ECON 2313-001
Fall Semester, 2010
Course: Principles of Macroeconomics
Learning Objectives: (1) To achieve an understanding of fundamental principles of economics such as opportunity cost, the law of demand, and comparative advantage; (2) to obtain familiarity with basic measures of aggregate economic activity such as gross domestic product, the unemployment rate, and the money supply; (3) to comprehend the essential features of the principal (competing) theories of aggregate output (or income) and employment, inflation, exchange rates and the balance of trade; and (4) to appreciate the link between macroeconomic theory and policy.
Professor:
Christopher Brown
Business 412
870-972-3737 (tel.)
870-972-3417 (fax)
Office Hours: MTW, 1:30 to 3:00 p.m.
R, 10:30-12:00 a.m.
Text:
Robin Bade and Michael Parkin. Foundations of Macroeconomics plus MyEconLab plus eBook 1-semester Student Access Kit, 5th Edition (Boston: Prentice Hall), 2011.ISBN-10:0-13-612583-2. ISBN-13: 978-0-13-612583-9.
MyEconLab:MyEconLabis an online homework, tutorial, and assessment system that accompanies the Bade and Parkin text. Homework assignments completed online using MyEconLab will count for 20 percent of your grade in this course. There will be at least one graded homework assignment per chapter (we will cover 17 chapters in this course). The nine (9) highest homework scores will be counted toward your “homework” score (see below). MyEconLab provides access to economic news and videos from the Financial Times and ABC, as well as a complement of learning aids such as etext, guided solution, and the grapher tool. See attached sheet for registration instructions. Do not purchase a text not packaged with MyEconLab.
Examinations and Grades: The final grade is determined on the basis of the student’s performance on four (4) examinations and homework assignments completed usingMyEconLab. Exams will consist of multiple choice questions. The various components have the following weights in the determination of the student’s final average:
Item / Weight(Percent)
Homework / 20
Exam 1 / 15
Exam 2 / 15
Exam 3 / 20
Final Exam / 30
Total / 100%
The following scale will be applied to determine the student’s final grade:
Range(Percent) /
Grade
88-100 / A
77-87 / B
65-76 / C
50-64 / D
Below 50 / F
Web Site: Browse tomyweb.astate.edu/crbrown/2313.htmlto visit the ECON 2313 Home Page. The web site is best viewed by Internet Explorer 6.0 or higher. The course home page contains class announcements, links to course materials (such as PowerPoint slides used during lectures), and links to articles or other materials relevant to the course.
Make-up Policy: Should a student be forced to miss an examination, the student should make every effort to notify the professor in advance of the exam to be missed. If unable to contact the professor (by phone or e-mail) prior to the exam, the student should contact the professor as soon as possible. Presuming the student has made a good faith effort to notify the instructor, and if the student can present a credible excuse for his or her absence, then a make-up exam will be arranged.
Cell Phones: Be sure to turn off your cell phone during lectures. Students are warned that surreptitious texting may result in chastisement and/or public humiliation.
Schedule of Topics, Reading Assignments, and Examinations
Date /Topic / Reading
Assignment
Aug 23 / Introduction
Aug 25 / The Economic Way of Thinking / Ch. 1
Aug 27 / Making and Using Graphs / Appendix to Ch. 1
Aug 30 / U.S. and Global Economies / Ch. 2
Sept 1 / Opportunity Cost; The Production
Possibility Frontier / Ch. 3, pp. 61-72
Sept 3 / Comparative Advantage and Gains from Trade / Ch. 3, pp. 72-82.
Sept 6 / Labor Day Holiday
Sept 8 / Demand and Supply / Ch. 4, pp. 83-94
Sept 10 / Market Equilibrium; Effects of
Price Ceilings and Floors / Ch. 4, pp. 95-112.
Sept 13 / Exam 1
Sept 15 / National Income Accounting / Ch.5, pp. 113-126
Sept 17 / Use and Limitations of Real GDP / Ch. 5, pp. 127-134
Sept 20 / Measuring Real GDP / Appendix to Ch. 5
Sept 22 / The Consumer Price Index (CPI)
and the Cost of Living / Ch. 6
Sept 24 / Jobs and Unemployment / Ch. 7
Sept 27 / Potential GDP and the
Natural Rate of Unemployment / Ch.9
Sept 29 / Saving, Investment, and the
Interest Rate / Ch. 10, pp. 241-255
Oct 1 / Government in the Loanable Funds Market / Ch. 10, pp. 256-264
Oct 4 / Business Cycle Definitions and Facts / Ch. 13, pp. 325-331
Oct 6 / Aggregate Supply and Demand / Ch. 13, pp. 332-352
Oct 8 / Exam 2
Oct 11 / Aggregate Expenditure;
The Consumption Function / Ch. 14, pp. 355-363
Oct 13 / Equilibrium Expenditure / Ch. 14, pp. 364-369
Oct 15 / The Multiplier Effect / Ch. 14, pp. 370-374
Oct 18 / Money and the Financial System / Ch. 11, pp. 267-282
Oct 20 / Bank Deposit (Money) Creation; Fed Open
Market Operations; The Money Multiplier / Ch. 11, pp. 283-294
Oct 22 / Money and the Interest Rate / Ch. 12, pp. 297-305
Oct 25 / The Quantity Theory of Money / Ch. 12, pp. 306-324
Oct 27 / The Federal Budget / Ch. 16, pp. 407-418
Oct 29 / Discretionary Fiscal Policy / Ch. 16, pp. 419-425
Nov 1 / The Automatic Stabilizers / Ch. 16, pp. 426-430
Nov 3 / Exam 3
Nov 5 / Monetary Policy;
The Transmission Mechanism / Ch. 17, pp. 433-445
Nov 8 / Alternative Monetary Policies / Ch. 17, pp. 446-459
Nov 10 / Trade Patterns and Trends;
International Outsourcing / Ch. 18, pp. 461-465
Date /
Topic /
Reading
Assignment
Nov 12 / Comparative Advantage--Again / Ch. 18, pp. 465-475
Nov 15 / Effects of Import Tariffs, Quotas,
and other Nontariff Barriers / Ch. 18, pp. 476-482
Nov 17 / Arguments for Trade Restrictions / Ch. 18, pp. 482-492
Nov 22-26 / Thanksgiving Holiday/
Fall Break
Nov 29 / The Balance of Payments / Ch. 19, pp. 493-500
Dec 1 / Exchange Rates / Ch. 19, pp. 501-511
Dec 3 / The Chinese yuan Issue;
Speculation and “Hot” Money / Ch. 19, pp. 512-518.
Dec 6 / Review Session
Dec 10 / Final Examination, Comprehensive [1]
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Textbook:Bade/Parkin: Foundations of Macroeconomics 5e
Course Name: ECON 2313 Principles of Macroeconomics (1)
Course ID: XL0I-P1OQ-301Z-20M2
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