FACULTY OF MANAGEMENT

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1 FACULTY OF MANAGEMENT Department of Economics and Finance ECON 212 (S13N02 & S13N03): Principles of Macroeconomics Spring 2013 COURSE OUTLINE Instructor: Ahmed A Hoque Office: Bldg Room 422 Tel. (Office): (250) Local Ahmed.Hoque@viu.ca Office Hours: Mondays 12:00-1:00pm & 2:00-3:00pm Wednesday 11:30am-12:30pm Class Location: Prerequisite: Monday 3:30-5:00pm Building 250 Room 125 (both sections) Wednesday 1:30-3:00pm (S13N02) & 3:00-4:30pm (S13N03) Bldg 200 Room 237 Min. "C+" in either Principles of Math 11 or Applications of Math Course Objectives This introductory macroeconomics course is designed to create a solid understanding in theories of aggregate economic behaviour. The main focus will be on national income determination, unemployment, inflation, aggregate demand and aggregate supply (AD-AS) and fiscal and monetary policies. Applications of these theories will be discussed with references of the Canadian economy whenever possible. 2. Intended Learning Outcomes Upon successful completion of this course, students will be able to: 1. Explain the income and expenditure approaches for measuring the economy s output; distinguish between real and nominal GDP. 2. Develop the aggregate expenditure model for a closed and an open economy in order to explain the multiplier effect and government fiscal policy. 3. Construct the aggregate demand and aggregate supply model and use them to explain short-run economic fluctuations, the impact of government monetary and fiscal policy, and the adjustment of the economy over time. 4. Explain the derivation of the unemployment and inflation statistics and determine the relationships between inflation, employment and income in the context of the macroeconomic models. 5. Identify the factors contributing to long-run economic growth in the context of the different growth models. 1

2 3. Required Materials Text: Parkin, M. and R. Bade (2013), Macroeconomics: Canada in the Global Environment, 8 th Edition, with MyEconlab, Toronto: Pearson. Online Access: MyEconLab for online quizzes 4. Course Contents and Tentative Schedule The following is a list of topics intended to be covered for this course. Midterm exams are expected to cover the first two sections. However, the syllabus will be adjusted based on the progress of the course. Section One: Measuring the Economy & Long-run Economic Growth Chapter 20: Measuring GDP and Economic Growth Chapter 21: Monitoring Jobs and Inflation Chapter 22: Economic Growth Chapter 26: Aggregate Supply and Aggregate Demand MIDTERM EXAM I: FEBRUARY 04 Section Two: Business Cycles & Economic Policy Chapter 23: Finance, Saving, and Investment Chapter 24: Money, the Price Level, and Inflation Chapter 28: Canadian Inflation, Unemployment, and Business Cycle Chapter 29: Fiscal Policy Chapter 30: Monetary Policy MIDTERM EXAM II: MARCH 18 Section Three: Disequilibrium & Open Economies Chapter 25: The Exchange Rate and the Balance of Payments Chapter 31: International Trade Policy FINAL EXAM: TBA 2

3 5. Basis of Student Assessment (Weighting) There are two grading schemes available for this course aimed to provide you with some flexibility. You can choose either of them based on your desire. Please note that you are required to indicate your choice by no later than January 28, Scheme 1 Scheme 2 a) MyEconLab Quizzes: 10% b) Class tests (4 or 5) 10% c) Midterms (2@20%): 40% d) Final: 40% a) Class tests (4 or 5) 10% b) Midtest (2@25%): 50% c) Final: 40% Total: 100% Total: 100% 6. Policies on Assessment Quizzes (for Scheme 1 only): There will be online quizzes assigned during the semester. You will get 4/5 days to complete each quiz with 3 attempts. Your best attempt will be considered for grading. Additional practice quizzes are also available on the site with unlimited access during the semester. All quizzes and practice quizzes will be found on MyEconLab site ( Please note that it is your responsibility to register for MyEconLab and to ensure that your computer is properly set up to work with MyEconLab. A detailed description on the registration procedure (how to enroll) for MyEconLab is available on page 6 of this course outline (i.e., course name, course ID, etc.) Class tests: There will be 4 or 5 class tests administered during the semester. Each test may cover a pre-announced chapter or topic. Tests contain some short answer questions, or a problem solving question. For instance, you might be asked to derive the simple multiplier and calculate the value of the multiplier based on the given information. For each test you will be given more than 10 minutes. Such tests are intended to get you involved in the reading consistently. No surprise, you can expect to receive most of the assigned marks for a logical or consistent explanation of the problem, besides correct answer. 3

4 Exams: a) Exams (midterms and final) contain three sections: Essays, Multiple-choice, and Problems. Essays are used to test critical thinking and writing skills, multiplechoice questions to test overall theoretical knowledge, and problems to test quantitative and qualitative skills. b) Midterms are expected to be 75 minutes long in class exams. Midterm exam dates are given in the course contents and tentative schedule table on page 2 of this course outline. Although, tentative syllabi are mentioned on the same table, the ultimate decision on the midterm exam syllabus will be made based on the progress of the course materials. c) The final exam is cumulative and to be scheduled by the Student Records office during the final exam period. As a matter of policy, the Department requires a minimum of 40 percent on the final exam in order to pass the course regardless of the marks received on work completed before the final exam. d) Exams must be written on the scheduled dates. No makeup exams will be administered. However, exceptions would be made for some legitimate reasons, subject to necessary documentations. However, if you miss both midterms for any valid or invalid reasons, you will automatically be disqualified and will receive a grade of F e) Special accommodation: Students with documented disabilities requiring academic and/or exam accommodation should contact Disability Services in Building 200. f) All exams are closed book/notes. No foods allowed during any exam. g) You are strongly advised to write any exam by black or blue inked pen, not pencil. 7. Grading Scale The following grading scheme will apply: Letter Mark Grade Letter Mark Grade Grade (%) Point Grade (%) Point A C A C A C B D B F B

5 8. Course Policies Class Attendance and Participation. Class Attendance is very important. At least one chapter will be covered in each week. Students are expected to prepare for each week of lectures by reading the assigned chapters of the text in advance. Read the assigned topic before coming to the class even if you don t understand it fully. While lectures will be based on the required textbook listed above, students will also be responsible for any additional information (e.g. diagrams, notes, etc.) presented on board and projector during lectures. It is strongly encouraged not to miss any class and being present in the class on time. Your participation is important. You are strongly encouraged to ask relevant questions in class/during lecture. Do not be hesitated with the idea what other people are thinking of. Academic Misconduct: Academic misconduct includes, but is not limited to, giving and receiving information during any test or exam, using unauthorized sources of information during any test; plagiarizing; fabrication, cheating, and, misrepresenting the work of another person as your own, facilitation of academic misconduct, and under certain conditions, non-attendance. Plagiarism and Cheating. Students are expected to observe the same standards of scholarly integrity as their academic and professional counterparts. Students, who are found to have engaged in unethical academic behaviour are subject to penalty by the University. Device Use. All laptops and electronic devices are to be turned off during lectures unless the holder has a specific note from Disability Services. No electronic dictionaries, cell phones or other electronic devices will be allowed in exams/tests/quizzes. Only the following approved calculators may be used in exams/tests/quizzes. Texas Instrument BAII Plus, BAII, BA35 Sharp EL-733A Hewlett Packard 10B No other materials will be allowed on the desktop apart from a pen/pencil unless specifically approved by the faculty member. Student Conduct Policy: As a Vancouver Island University student you are expected to conduct yourself as outlined in the University s Student Conduct Policy. For instance, you apply professional standards of behaviour with respect to attendance, punctuality, positive attitude, and respect for other individuals and opinions. communication: You are encouraged to me with any specific question/issue. s are answered in the order they are received between 8am and 4pm from Monday to Friday. Please do not expected real time response of your queries made by s. 5

6 How to Register and Enroll in Your MyEconLab.com Course Welcome to MyEconLab! Your instructor has set up a MyEconLab.com course for you. Textbook: Parkin, Microeconomics: Canada in the Global Environment, Seventh Edition Course Name: ECON212: Principles of Macroeconomics Course ID: XL13-R1MN-201Y-7PM2 To join your instructor's course, please complete the following two steps: 1. Register for MyEconLab 2. Enroll in your instructor's course To register, you will need: 1. A valid address. 2. The access code that came with your MyEconLab Kit or a credit card or Pay Pal account if you wish to purchase access online. 3. The Course ID listed above. Please Note: If you have an Access Kit that came with your book or that you purchased separately, the instructions may be different than what you are reading here. Please disregard those instructions and follow the steps below. The code in your kit is still valid for the version of MyEconLab that your instructor is using. Step 1: Register for MyEconLab 1. Go to and click the Student button, in the Register section. 2. Enter your Course ID: XL13-R1MN-201Y-7PM2 3. Choose to register an access code or to buy access. 4. Follow the instructions to set up your login and password for your course. Step 2: Enroll in your instructor's course 1. Login to MyEconLab at with your newly created Login Name and Password 2. Enter your course ID: XL13-R1MN-201Y-7PM2. If you purchased access, visit the Student Center inside your Instructor's Course for additional purchase options Note: If you are taking two MyEconLab courses simultaneously you will need two separate login accounts. Need Help? For assistance, please visit 6

7 Academic Calendar, Spring 2013 Vancouver Island University January Monday First day of classes for Spring semester. 14 Monday Last day of active wait-list for Spring semester courses. After this date, courses may only be added in person using the Request For Late Course Registration form. 18 Friday Last day to add/drop a course before Spring semester tuition is calculated. 21 Monday Last day to pay Spring semester fees. Tuition unpaid as of February 4 will be assessed a 10% late payment fee. February Monday Family Day - University Closed. 25 Mar 1 Mon-Fri Study Days for University and Career/Technical Programs. March Friday Last day for overdue tuition for Spring semester to be paid to avoid withdrawal from Spring semester courses. Last day for academic penalty-free withdrawal from a Spring semester course or program or to change from credit to audit (or vice-versa) in University and Career/Technical Programs. 4 Monday 15 Thursday 29/Apr 1 Fri/Mon Last day for academic penalty-free withdrawal from full-year courses. Students with fees owing will be withdrawn from all Spring semester classes. Last day to apply for Student Aid BC (student loan) for students with April end date for the current academic year. Good Friday / Easter Monday; University closed. April Friday Last day of classes for University and Career/Technical Programs Mon-Tues Final examination study days for University and Career/Technical Programs. 17 Wednesday First day of final examinations. 26 Friday Last day of final examinations. 7

University of Waterloo Department of Economics Economics 102 (Section 006) Introduction to Macroeconomics Winter 2012

University of Waterloo Department of Economics Economics 102 (Section 006) Introduction to Macroeconomics Winter 2012 Instructor: Nafeez Fatima Office: HH 221 Phone: 519-888-4567, ext.36559 E-mail Address: