Department of Economics. McMaster University. Summer ECON 1BB3 C02 and C03: Introduction to Macroeconomics
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1 Department of Economics McMaster University Summer 2018 ECON 1BB3 C02 and C03: Introduction to Macroeconomics Instructor: Shahed Khan, Ph.D. Office: TBA Lectures: Section C02: Tu, Th 9:00 AM - 12:00 PM, KTH B124 Section C03: Tu, Th 7:00 PM - 10:00 PM, KTH B124 Office Hours: By appointment Teaching Assistant: TBA Course Website: Avenue to Learn: Course Objectives: The purpose of the course is to introduce the basic analytical principles and methods of economics with emphasis on macroeconomic theory. Topics include market forces of supply and demand, basic models of national income determination, economic growth, international trade, savings and investment, unemployment, inflation, money and banking system, short term economic fluctuations, fiscal and monetary policy, and some basic concepts of open economy macroeconomics. Course Materials: Principles of Macroeconomics, 7th Canadian ed., Mankiw, Kneebone, and McKenzie (available in the bookstore). Aplia Website. Registration information is on the last page of this outline. Evaluation: 1. Aplia Homework Assignments (Best 7 out of 10) 15% 2. Test 1 20% 3. Test 2 25% 4. Final Exam* 40% *You must pass the final exam to pass the course.
2 Tests/ Final Exams: Tests and final exam questions will typically be multiple choices, but will need critical analysis of economic issues, using economic theory, as we will discuss during class lectures. Students are encouraged to attend ALL classes, but not required. If you miss class, you are still responsible for the material covered and should get class notes from a fellow student. Both tests will be 75 minutes long and will be held on Tuesday, July 03 and Thursday, July 19 from 6:00 to 7:15 pm. The final exam will be 2 hours in length and will be held on Thursday, August 02 from 6:00 to 8:00 pm. Exams location will be announced later. Homework Assignments: Homework assignments covering material from some chapters of the book will be made available through the Aplia website and will be due on dates announced in class and on the course website. The web-based software will allow you to work on and submit your answers online and receive immediate feedback. The answers will be automatically graded. Some practice problems covering each chapter will also be available through the Aplia website, but no grades will be assigned for this. The purpose of the assignments and practice is to help you learn the material well and prepare for the tests. It is fine that you work together with your classmates on the assignments and practice problems, but I strongly encourage each of you to submit your answers individually for grading and achieve the maximum benefit of completing an assignment. Missing Assignments and/or Tests: Best 7 out of 10 assignments will be considered and they must be completed by the due date. There will be no makeup assignments. If you miss one assignment, best 7 out of 9 assignments will be counted. If you miss a test you will get a grade of zero unless you complete and submit a McMaster Student Absence Form (MSAF) which can be found at With approved MASF, weight of the missed test will be shifted towards final exam. Use of Calculators: Only the Casio FX-991 series calculator may be used for tests and the exam (available in the bookstore). Photo ID: You will be required to show your university photo ID at all tests and the exam. Course Outline: Introduction Chapter 1: Ten Principles of Economics Chapter 2: Thinking like an Economist Appendix Graphing: A Brief Review Chapter 3: Interdependence and the Gains from Trade
3 Supply and Demand: How Markets Work Chapter 4: The Market Forces of Supply and Demand Fundamentals of Macroeconomics Chapter 5: Measuring a Nation s Income Chapter 6: Measuring the Cost of Living Chapter 7: Production and Growth Chapter 8: Savings, Investment, and The financial System Chapter 9: Unemployment and Its Natural Rate Chapter 14: Aggregate Demand and Aggregate Supply Money, Prices, and Government Policy Chapter 10: The Monetary System Chapter 11: Money Growth and Inflation Chapter 15: The Influence of Monetary and Fiscal Policy on Aggregate Demand Open Economy Macroeconomics Chapter 12: Open Economy Macroeconomics: Basic Concepts Tentative Lecture Schedule: Date Lectures June 19 Course Outline, Chapter 1, 2 June 21 Chapter 3, 4 June 26 Chapter 4, 5 June 28 Test 1 Review July 03 Test 1 (Chapter 1-5) Time: 6:00 to 7:15PM, Location: TBA July 05 Chapter 6, 7 July 10 Chapter 8, 9 July 12 Chapter 9, 10 July 17 Test 2 Review July 19 Test 2 (Chapter 6-10) Time: 6:00PM - 7:15PM, Location: TBA July 24 Chapter 12, 14 July 26 Chapter 14, 15 July 31 Final Exam Review August 02 Final Exam (Chapter 5-12, 14, 15) Time: 6:00PM 8:00PM, Location: TBA
4 Communication Policy Effective September 1, 2010, it is the policy of the Faculty of Social Sciences that all communication sent from students to instructors (including TAs), and from students to staff, must originate from the student s own McMaster University account. This policy protects confidentiality and confirms the identity of the student. It is the student s responsibility to ensure that communication is sent to the university from a McMaster account. If an instructor becomes aware that a communication has come from an alternate address, the instructor may not reply at his or her discretion. Please do not send the instructor or the TAs s from Avenue. We cannot respond to sent from Avenue from our McMaster account. We will only address s sent to our McMaster account from a McMaster account. Lastly, please include the following information in your Subject heading, your name, student number and course. Student Accessibility Services (SAS) Students with disabilities or special needs are advised to register with SAS. Please contact (905) ext or sas@mcmaster.ca for information regarding its services and resources. For more information, see the SAS website: Academic Integrity: Please note: In order to maintain a culture of academic integrity, members of the McMaster university community are expected to promote honesty, trust, fairness, respect and responsibility. The policy for academic integrity is available at: Note: The instructor reserves the right to modify elements of the course and will notify students accordingly (in class and post any changes to Avenue to Learn).
5 How to access your Aplia course Introductory Macroeconomics, Summer 2018 Instructor: Md Shahed Khan Start Date: 06/18/2018 Course Key: V9ZB-4YLU-E7MY Registration 1. Connect to 2. Follow the prompts to register for your Aplia course. Payment After registering for your course, you will need to pay for access using one of the options below: Online: You can pay online using a credit or debit card, or PayPal. Bookstore: You may be able to purchase access to Aplia at your bookstore. Check with the bookstore to find out what they offer for your course. Temporary Access: If you are unable to pay at the start of the semester your course enrollment includes a free trial period of up to two weeks. After the temporary access period ends you will be required to pay for access. Please note: At the end of the temporary access period, your course access will be suspended until your payment has been made. All your scores and course activity will be saved and will be available to you after you pay for access. If you already entered an access code or bought Aplia in your bookstore or online, simply login through the provided link to register for the course. System Check To check whether your computer meets the requirements for using Aplia, go to
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