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ECON #102: PRINCIPLES OF MACROECONOMICS
This syllabus will provide the basic reference for your studies of Economics,
this term. You will find a brief statement of our purpose and responsibilities,
an overview of the course, and a complete schedule, including lecture
and discussion topics, reading assignments, and examination questions.
You will determine your success in this course, as in life. Early and
consistent application will assure the success to which you aspire.
Sloth will be rewarded appropriately, too.
Responsibilities and Expectations of this Course:
In this course, you will develop rigorous understanding of the essential
tools of economic analysis, and some the important conclusions that
economists have reached regarding how individuals behave and how markets
perform. Economics is the study of the choices which are made because
of the scarcity of resources, the institutions which facilitate those
choices, and the outcomes that occur in various market environments.
We will introduce the two basic techniques of economic analysis, optimization
for choice and equilibrium for markets. Then, we will develop our
understanding by applying these techniques to consumption, saving, investment,
labor supply, production, income, and the major examples of market failure
--- monopoly, externalities, and public goods.
This course has been planned to facilitate your learning. There will
be four quizzes, two tests, and one comprehensive exam, to help you
to consolidate your understanding of the material and to assure some
regular evaluation of your progress. You will be expected to complete
all assignments as scheduled. No dishonesty will be tolerated. You
are encouraged to study together, but all tests and exercises must be
the exclusive work of the student submitting the paper. To facilitate
thorough preparation, all test questions are integrated into this syllabus.
This procedure reduces anxiety and encourages co-operative learning.
However, students should also recognize that the opportunity for preparation
lowers my tolerance for superficial or sloppy work.
I assume that you are mature adults, who recognize your personal
responsibility for your success and your duty to the people of California
who are subsidizing your education. Accordingly, you will attend class,
study a minimum of four hours per week, and take your tests as scheduled.
Reasonable exceptions are: job requirements, family responsibilities,
and personal illness. Otherwise, there will be no special accomodations
1) You will receive 0-10 points for each test question: A+ = 10, A =
9, B+ = 8, B = 7, C+ = 6, C = 5, C- = 4, D+ = 3, D = 2, D- = 1, F =
0 Your eight test answers will be averaged and will contribute 70% of
your grade.
2) Your four quizzes will contribute 15% of your grade. {Your lowest
quiz will be dropped. There will be no make ups of quizzes missed}
3) Attendance will be 15% of your grade.
{You may miss one class without penalty.You may be dropped after missing
three classes.}
4) Your Course grade will be based on your total points earned: 85-100
= A; 70-84 = B; 50-69 = C; 40-49 = D; < 40 = F
Our Text will be: Taylor, John Principles of Macroeconomics,
2nd edition 1998 You should also read The Economist, The Wall
Street Journal, or Barron's.
SCHEDULE
| DATE |
TOPIC |
ASSIGNMENT |
| Week One |
Introduction
Study Skills; What is economics ? |
Enroll; acquire materials
read Taylor cha.1 & 2 |
| Week Two |
Basic Tools: Supply, Demand and Elasticity |
Taylor cha.3 & 4 |
| Week Three |
An Overview of Macroeconomics |
Taylor cha. 5 |
| Week Four |
Measuring Aggregate Activity |
Taylor cha.6 |
| Week Five |
Employment & Unemployment |
Taylor cha.7 |
| Week Six |
Investment in New Capital
Review for First Hour Test |
Taylor cha.8 |
| Week Seven |
First Hour Test
Technology & Economic Growth |
two questions from # 1- 5
Taylor cha. 9 |
| Week Eight |
Growth Experience & Emerging Economies |
Taylor cha.19 & 20 |
| Week Nine |
International Finance & Trade |
Taylor cha. 17
{recommended 21 & 22} |
| Week Ten |
Money & Inflation |
Taylor cha.10 |
| Week Eleven |
Monetary Policy |
Taylor cha.16 |
| Week Twelve |
Second Hour Test Taking a close look at the US Economy
|
two questions from # 6 - 10
Hand-out |
| Week Thirteen |
Business Cycles |
Taylor cha.11 |
| Week Fourteen |
The Uncertain Multiplier |
Taylor cha.12 |
| Week Fifteen |
Aggregate Demand & Price Adjustment |
Taylor cha.13 |
| Week Sixteen |
Recovery & Expansion
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Taylor cha.14 |
| Week Seventeen |
Fiscal Policy & The Budget Deficit |
Taylor cha.15 |
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