Economics 202 (01) & (02)

ESSENTIALS OF MACROECONOMICS

Winter 2013
(T, R: 10:00 a.m. - 12:05 p.m.; T, R: 3:00 - 5:05 p.m.)

Instructor: Dr. Donald J. Oswald

Office Hours: T, R: 12:30 - 2:45 p.m.

Office: BDC, Rm. 259A

Phone: 654-2465/2181

E-Mail: doswald@csub.edu


COURSE MATERIALS:

Michael Parkin, Macroeconomics, 10th ed., 2012

MyEconLab Web Site: http://www.pearsonmylab.com/ 

Instructor's Web Site: http://www.csub.edu/~doswald

COURSE OBJECTIVES

1. To convey the nature of the economic problem.

2. To equip students to better appreciate the methodology of economics together with its strengths and weaknesses.

3. To equip students to develop the ability to apply the analytical method to macroeconomic phenomena by employing graphical analysis and quantitative problem solving techniques.

4. To provide a detailed understanding of how market systems function in the aggregate.

5. To develop an understanding of the economic aspects of problems such as the business cycle, cyclical unemployment and inflation, productivity   and economic growth, and international balance of payments disequilibrium.

6. To enhance students' abilities to critically evaluate the roles of the federal government and Federal Reserve System in the macro-system and the policies they employ to deal with important macroeconomic issues.

7. Students will learn to actively and independently utilize the analytical framework of economics in personal decision making as well as the exercise of their citizen responsibilities.

8. In addition to the above general objectives, students, for examination purposes, will be required to

a. know the basic terms of economics, particularly macroeconomics. This includes knowing the definitions and when to use them correctly in dealing with particular macroeconomic problems;

b. understand economic concepts and principles, particularly as they relate to one another and to changing macroeconomic conditions;

c. apply economic principles to new situations. This requires that students be able to identify the appropriate principle(s) relevant to a specific problem and to analyze the problem or circumstance in terms of the appropriate principle or principles;

d. be able to interpret economic data in evaluating the condition of the macroeconomy. This implies the ability to differentiate between relevant and irrelevant data, to identify the trends in data and to make appropriate inferences from data as well as identify unwarranted conclusions.

COURSE REQUIREMENTS

1. Read all assigned materials.

2. Attendance: Attendance will be regularly taken. Experience has repeatedly shown that students who frequently miss class do not succeed in this course.

3. Satisfactory completion of the following:

Quizzes (10 @ 30 pts. ea.). . . . .. . . . . . . . . 300 points

Four Homework Assignments . . . . . . . . . . .  90 points

Mid-term examination . . . . . . . . . . . . . . . . . 150 points

Final examination . . . . .. . . . . . . . . . . . . . . . 200 points

TOTAL . . . . . . . . . . . . . . . . . .  . . . . . . .   740 points

In addition, you may choose to take up to six additional online, bonus quizzes for a possible total of 30 bonus points. To earn the bonus points on a quiz, you must get at least 70% of the multiple-choice questions correct.

3. There will be no make-up quizzes. Your top ten scores will be used in calculating your final grade.

4. Students unable to take a examination at the prescribed time must arrange to take a make-up examination. However, a ten-percent penalty will be assessed for make-up exams. Make-up examinations will not be allowed after examination papers are returned to the class.

5. Final course grades will be based on the following grading scale:

A . . . . . 100 - 88%

B . . . . . 87 - 77%

C . . . . . 76 - 66%

D . . . . . 65 - 51%

F . . . . . 50% & below

Plus and minus signs will be assigned to grades where appropriate.

COURSE OUTLINE AND READING SCHEDULE

Dates, Subjects, and Reading Assignments

I. INTRODUCTION TO ECONOMICS: 01/08, 10

A. Course Syllabus

B. Economics & Its Methodology  Ch. 1*

C. The Economic Problem & the PPF Model  Ch. 2 *

II. INTRODUCTION TO MACROECONOMICS: 15, 17, 22, 24, 29, 31

A. Measuring GDP and Economic Growth Ch. 4*

B. Monitoring Jobs and the Price Level  Ch. 5*

C. Economic Growth  Ch. 6**

D. Finance, Saving, and Investment  Ch. 7*  

*An online, multiple-choice quiz will be given on each one of these chapters.

**Online bonus quizzes are available for these chapters.

02/07 ******MID-TERM EXAM****** Chapters 1, 2, 4 - 7

III. ECONOMIC FLUCTUATIONS & STABILIZATION POLICY: 5, 12, 14, 19, 21, 26, 28, 3/05, 07

A. Aggregate Supply and Demand  Ch. 10**

B. Fiscal Policy  Ch. 13**

C. Money, the Price Level and Inflation  Ch. 8**

D. Monetary Policy  Ch. 14**

E. U.S. Inflation, Unemployment, & the Business Cycle  Ch. 12**

IV. THE GLOBAL ECONOMY: 12. 14

A. The Exchange Rate & the Balance of Payments  Ch. 9

01: Mar. 22, 2013 **** FINAL EXAM *** 11:00 - 1:30 p.m.

02: Mar. 22, 2013 **** FINAL EXAM ***   2:00 - 4:30 p.m.