ECON 212: Intermediate Macroeconomics Fall 2016, Department of Economics Emory University

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1 ECON 212: Intermediate Macroeconomics Fall 2016, Department of Economics Emory University Meeting Time: Section 1: M.W.F. 10:00 am -10:50 am White Hall, Room # 102 Instructor: Dr. Mona Ray Office: 310A Rich Building Phone: Office Hours: M. W. F: 11.30am -1.00pm or by appointment mona.ray@emory.edu Prerequisites: This course requires ECON_OX 100 or ECON 101 or BUS 201 AND ECON 112 or ECON _OX112 AND MATH 111, or MATH OX 111 MATH 119 or MATH 115 or MATH 116 or MATH_OX 180 or MATH_OX 110A/B or equivalent transfer credit as a prerequisite. Course Objective: This course analyzes the overall performance of economic systems including output and unemployment levels, inflation, savings and investment, economic growth, international finance, exchange rate, and the effects of monetary and fiscal policies in an open economy. This course will help the students develop analytical skills using macroeconomic tools for analyzing government policy effects on the economy as well as the international market. Required Text: Macroeconomics, 9 th ed., by N. Gregory Mankiw, Worth Publishers Use the following link to register for the course assignments and other resources on LaunchPad. Course Requirement: Econ 212 is taught through a combination of lecture, discussion, homework, quizzes and examinations. Throughout the semester there will be three tests as scheduled in the attached course schedule and a final exam. In-class pop quizzes will be administered throughout the semester. These quizzes will not only help you improve grade but also used as random attendance checking. Therefore, regular class attendance is very important. In addition, there will be homework assigned from time to time which will be credited as bonus points. However, to be considered for bonus points the assignments have to be turned in by the due dates. In cases of valid excuses, you get two class periods time to make up for that assignment. All homework will be assigned on LaunchPad. No make-ups for the exams will be allowed. Expected Student Learning Outcomes: After completing the course the students should be able to 1. Distinguish between microeconomics and macroeconomics analysis 2. Use graphical analysis to explain economic theories and phenomena 3. Use National Income Accounting system to measure the performance of any economy 1

2 4. Explain the relationships between the business cycle, inflation, recession and unemployment. 5. Calculate and interpret price indexes as measures of inflation and deflation. 6. Demonstrate an understanding of the Classical and Keynesian Model 7. Distinguish between Fiscal and Monetary Policies 8. Demonstrate an understanding of the role of money, the financial institutions and the Central Banking system of any economy 9. Understand and explain the effect of international trade and currency exchange rates in world economies. 10. Distinguish between different economic systems 11. Describe the macroeconomic policies in transitional and developing countries 12. Demonstrate their ability to define, critique, and analyze economic problems using algebraic and statistical methods. Grading and Attendance Policy: For real learning to take place, you must first be intellectually humble, open and courageous. After all, that is why we are all at this institution. I expect you to act in ways that reflect those values. No student will be allowed into the class after 5 minutes of class starting time. If you are going to be late or have to leave early on a particular day, for a valid reason, please let me know in advance. All assignments are to be turned in by the due date. However, in cases of valid excuses you get two class periods time to make up for that assignment Your passing grade for this course is D or higher and will depend on the following rough weighting scheme: Quiz 15% Homework Bonus Test 1 20% Test 2 20% Test 3 20% Final Exam 25% Grading Scale: A: 94 to 100 C+: 77 to F: and below A-: 90 to C: 74 to B+: 87 to C-: 70 to B: 84 to D+: 67 to B-: 80 to D: 60 to There will be no curving in any of the exam grades. No make-ups for the exams will be allowed. No incompletes will be given. Academic Honesty and Classroom Etiquettes You are expected to adhere to the provisions of the Honor Code of Emory College. Suspected cases of academic misconduct will be handled according to the Honor Code, which can be found at 2

3 No Student will be allowed to audio and/or videotape my class lectures without disability accommodations. All cell phones should be switched off and tucked in your bag once you are inside my classroom. During test periods, you have to bring a regular calculator and not use any other electronic device as a calculator. Contribute fairly to group work. Always cite reference materials that you use (including materials from the Internet). Do not plagiarize or as pass off the work of others as your own. Examples of plagiarism include but are not limited to cutting and pasting information off the Internet. When in doubt, err on the safe side. I expect all students in my class to maintain classroom etiquettes no inappropriate attires, indecent behavior and talks will be tolerated in the classroom. Cheating or using unfair means to answer exams will be heavily penalized and will result in F grade. Disability: Students with disabilities are encouraged to register with the Office of Disability Services (ODS). After that, you can come to see me and discuss accommodations and other special needs. Important Dates: First Day of Class: Wednesday August 24, 2016 Last day to add/drop a class is Friday August 31, 2016 Labor Day Holiday: Monday September 5, 2016 Fall Break: Monday & Tuesday, Oct 10 & 11, 2016 Thanksgiving Holiday: November 23-25, 2016 Last Day of class: Thursday, December 6, 2016 Tentative Course Outline: The course syllabus is not a contract between instructor and student, but rather a guide to course procedures. The instructor reserves the right to amend the syllabus when conflicts, emergencies or circumstances dictate and students will be duly notified. The tentative chapter sequences are as follows: Chapter 1 The Science of Macroeconomics Chapter 2 The Data of Macroeconomics Chapter 3 National Income: Where I comes from and where it goes Chapter 7 Unemployment and the Labor Market Chapter 4 The Monetary System: what it is and how it works Chapter 5 Inflation: Its causes, effect, and social costs Chapter 10 Introduction to Economic Fluctuations Chapter 11 Aggregate Demand I: Building the IS-LM model Chapter 12 Aggregate Demand II: Applying the IS-LM model Chapter 14 Aggregate Supply and the Short-Run Tradeoff Between Inflation and Unemployment Chapter 6 The Open Economy Chapter 13 - The Open Economy Revisited: The M-F model and the Exch.-Rate Regime Chapter 19 Government Deb and Budget Deficits 3

4 More Supplemental Reading assignments may be posted on Blackboard throughout the semester. Intermediate Macroeconomics ECON Fall 2016 CRN: 1488 MONTH DATE CLASS DAY TOPIC ASSNMTS August 24 1 W Introduction 26 2 F Chapter M Chapter W Chapter 2 September 2 5 F Chapter 2 5 X M Labor day holiday 7 6 W Chapter 3 HW 1 ASN 9 7 F Chapter M Chapter 3 HW1 DUE 14 9 W Chapter F TEST M Chapter W Chapter F Chapter 4 HW 2 ASN M Chapter 4 HW 2 DUE W Chapter F Chapter 5 October 3 17 M Chapter W Chapter F TEST 2 10 M Fall Break W Chapter F Chapter M Chapter W Chapter F Chapter 11 HW 3 ASN M Chapter 11 HW 3 DUE W Chapter F Chapter M Chapter 12 November 2 29 W Chapter F TEST M Chapter W Chapter F Chapter M Chapter 6 HW 4 ASN W Chapter 13 HW 4DUE F Chapter 13 4

5 21 37 M Chapter Thanksgiving Holiday M Chapter W Chapter 19 December 2 40 F Chapter M Last Day-Wrap Up 8 TH FINAL EXAM 3.00p- 5.30p 5