emory University
Department of Economics
Principles of Macroeconomics FALL 2014
Economics 112, section 001 Edouard Wemy
This course is the second course in the introduction to economics sequence. The focus is on the whole (macro) economy of a nation. Among the topics covered are: international trade and finance; the factors that determine long run growth in output; the role of the financial system in investment; the banking system, the money supply and the Federal Reserve System; open economy macroeconomic issues; and short run fluctuations in prices, output, and employment; and possible government monetary and fiscal policies to remedy these fluctuations. We will discuss current economic issues such as the budget and trade deficits, the recent financial crisis, the Euro crisis, Asian and Latin American Economies and Frontier Markets.
Class Time: Tuesday, Thursday, Friday 9:00am-9:50am
Prerequisite: ECON 101.
Announcements: You are responsible for any announcements or assignments made in class.
Office: Modern Language, Room 106
E-mail: .
Office Hours: Tuesday, Thursday 11AM-12:30PM and by appointment.
Please, No electronics in class (computers, cell phones, etc.). If you have a pressing need to use these in class, please see me and you can sit in a special section.
Textbooks
Textbook: N. Gregory Mankiw, Principles of Macroeconomics, Seventh Edition, South-Western Cengage Learning, 2015.
On-line resources: We will use an on-line service called Sapling for homework assignments. Details about this are on Blackboard under “Course Documents”. This is required for the course.
Course Key: 4405
Blackboard: Blackboard is a communication medium used to make announcements, distribute handouts and lectures, post reading material, collect assignments, and record and distribute grades. To get to the Blackboard main page, go to: https://classes.emory.edu and then use your email ID and Password to log in and select our course. If you cannot log in, you may contact for help. There are several navigation buttons on the left that we will use to organize and classify information. Among these are:
Announcements – used to make various announcements. Please read this section regularly.
Course Documents – used to post the syllabus, lecture presentations, and assignments.
Additional Readings – used to post non-textbook reading material (supplementary readings)
There is also a website for your textbook: www.cengage.com/economics/mankiw. This is a very useful website that includes problems and applications, quizzes, and power point slides. I strongly suggest you consider using this as a supplement to your textbook.
Honor Code: The honor code is in effect throughout the semester. By taking this course, you affirm that it is a violation of the code to cheat on exams, to plagiarize, to deviate from the teacher’s instructions about collaboration on work that is submitted for grades, to give false information to a faculty member, and to undertake any other form of academic misconduct. You agree that the teacher is entitled to move you to another seat during examinations, without explanation. You also affirm that if you witness others violating the code you have a duty to report them to the honor council.
Here is the link to the entire honor code:
http://college.emory.edu/home/academic/policy/honor_code.html
Grading and Tests
The grade in this course will be determined as follows:
Assignment / WeightsHomework and Quizzes* / 20%
Participation / 10%
Each in class exam (2) / 20%
Final Exam / 30%
* Pop Quizzes: There will be in-class pop quizzes. I will not announce in advance when the pop quizzes will be given. In that sense, the pop quiz can also be viewed as random attendance checking.
Grades are not curved. Your final course grade will be computed according to the following scale:
A 95% - 100%
A- 90% - 94%
B+ 85% - 89%
B 80% - 84%
B- 75% - 79%
C+ 70% - 74%
C 65% - 69%
C- 60% - 64%
D 55% - 59%
F < 54%
Bonus points: Throughout the semester, bonus points will be given to students who bring articles pertaining to the concepts discussed in class. The articles must come from well-known journals as “The Economist”, “The Wall Street Journal”, “The New York Post” etc…..
Missed Exams: No make-up exams are given. If you are ill, or must miss an exam for some other reason, please contact me prior to the exam. Failure to do so may result in a failing grade. For an excused absence the other two exams will be weighted more heavily in place of the missing exam.
Expected Conduct
Instructor:
I will come to class prepared to teach the material you need to learn in this course.
I will make every effort to arrive on time, begin class on time, and release you on time.
I will answer your questions to the best of my ability and respond in a timely fashion should I not immediately know the answer.
I will hold regular office hours and be available to answer your questions.
Students:
You are expected to arrive on time and prepared for class. (Late arrival disturbs everyone and will not be allowed.)
Please turn off your phones and all other electronics before you enter class.
Please be quiet during class so that others may hear what is going on.
Please discuss with me any problems you may have in the course or any suggestions to improve the course.
Suggestions for Success:
Be attentive and take detailed notes.
You should look over the assigned material before class, and read it carefully after class.
You should be sure to do the assigned homework problems on a regular basis. Economics requires gradual learning.
TENTATIVE Course Schedule
INTRODUCTION
CHAP 1. Ten Principles of Economics.
CHAP 2. Thinking Like an Economist.
CHAP 3. Interdependence and the Gains from Trade.
CHAP 9. Application: International Trade.
THE DATA OF MACROECONOMICS
CHAP 10. Measuring a Nation's Income.
CHAP 11. Measuring the Cost of Living.
THE REAL ECONOMY IN THE LONG RUN
CHAP 12. Production and Growth.
CHAP 13. Saving, Investment, and the Financial System.
CHAP 14. The Basic Tools of Finance.
CHAP 15. Unemployment and Its Natural Rate.
MONEY AND PRICES IN THE LONG RUN
CHAP 16. The Monetary System.
CHAP 17. Money Growth and Inflation.
SHORT-RUN ECONOMIC FLUCTUATIONS
CHAP 20. Aggregate Demand and Aggregate Supply.
CHAP 21. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
CHAP 22. The Short-Run Tradeoff between Inflation and Unemployment.
THE MACROECONOMICS OF OPEN ECONOMICS
CHAP 18. Open-Economy Macroeconomics: Basic Concepts.
CHAP 19. A Macroeconomic Theory of the Open Economy.
EXAM ONE: October, 7th
EXAM TWO: November, 11th
FINAL EXAM: Thursday, December 11, 2014 8am-10:30am
NOTE: This syllabus is subject to change at any point during the course of the semester. All changes will be noted in class.
Important Dates for Fall 2014
UPDATED August 1, 2014
Wednesday, August 27th First day of classes for graduate and undergraduate
Monday, September 1st Labor Day Holiday
Wednesday, September 3rd Last day for schedule change
Wednesday, September 10th (4:00 p.m.) Last Day for Letter Grade OR Satisfactory/ Unsatisfactory (L/G - S/U) change
Friday, September 12th Degree Applications for Fall Graduates due in College Office (Students should bring to Alexa, 312D Rich Bldg. for advisor signature)
Friday, September 12th Deadline for Completion of Incomplete Work
M-Tu, October 13-14th Fall Break (no classes)
Friday, October 17th Last Day to Withdraw without penalty
Monday, October 27thth Pre-registration begins for Seniors for Spring 2015 (75+ hours)
Friday, November 14th Last day to withdraw for First year on campus students
Monday, November 17th ADD/DROP/SWAP opens for Spring 2015
W-TH-F November 26th-28th THANKSGIVING HOLIDAY
Tuesday, December 9th Last Day of Classes, Emory College
December 10th Reading Day
December 11, 12, 15, 16, 17 Final Exam Days