EC 204: PRINCIPLES OF ECONOMICS II (MACRO)

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1 EC 204: PRINCIPLES OF ECONOMICS II (MACRO) Fall 2013 Instructor: Professor Sarinda Taengnoi Office: Sage Hall 2479 Phone: Office hours: Mondays and Wednesdays 10-12:30PM, and by appointment Course Description: How important is knowledge in macroeconomics? New Data Shows Sharp Slowdown in Growth Rate, Half the states plan to cut spending on higher education.. Some will raise tax rates, The U.S. failed to create enough jobs to reduce unemployment. The study of macroeconomics will provide you with tools to understand the economy s performance. This course is designed to present you with the skills to understand and apply the fundamentals of macroeconomics: how the economy as a whole operates. Simple economics techniques and models will be used to analyze topics such as recession, inflation, and unemployment. Required Materials: 1. Textbook: Roger Miller. Economics Today: The Macro view, 16 th edition. Addison Wesley. 2. D2L: D2L can be accessed at the following site: I will post grades, assignments, and course announcements there. Students are advised to access the course s site frequently.. Course Objectives: The purpose of this course is to introduce you to macroeconomics theory and how the economy works. After taking this course, students are expected to achieve the followings: 1) Understand the meaning of some economic principles such as opportunity cost, marginal thinking, etc. 2) Be able to use supply and demand (descriptively and by using graphs) to explain how the market works. 3) Understand the determination of national income, employment, inflation, unemployment, monetary and fiscal policy. 4) Use AS-AD model to analyze the effect of government policy on the state of the economy. 5) Understand how public policy affects the macro economy, and be aware of current events.

2 Method of instruction: I emphasize interactive learning, meaning that the class is taught with combination of lecture, Q&A and discussion. Students are responsible for all assignments and regular attendance. Course Requirements: 1. Problem Sets (4% each, total of 16% of the grade) Students will be required to complete 4 problem sets. Questions will be posted at least one week before the due dates on the D2L. Students must hand in either typed or hand written (with legible handwriting) at the beginning of class on the due date. Late problem sets are accepted only if submitted within 24 hours after the announced due dates and will be subject to a 30% reduction in points. 2. In-Class Quizzes (1.5% each, total of 12% of the grade) There will be 9 quizzes given throughout the semester (see course outline). Questions will be based on the materials covered in class in that week. All quizzes will be taken in class, and should take about 8-10 minutes. They cannot be made up unless students can provide me with appropriate documentation. The lowest quiz grade will be dropped. 3. Reading Quizzes on D2L (8 % of the grade) I expect students to come to class prepared and ready to engage in lectures. At the end of some weeks (see course outline), I will assign you some readings from the textbook on a topic we will discuss in class in the following week. Questions will be available for you to take on the D2L starting from Fridays at 12 noon, and the deadline for each quiz is at Mondays at 12 noon. 4. D2L Pre-test and Post-test (3 % of the grade) Everyone is required to take both pre and post-tests on the D2L. The pre-test must be taken between Sep. 6 at 8AM and Sep. 18 by 5PM. 1% will be given to anyone who completes the pre-test, regardless how well they do. The post-test can be taken between Nov. 29 at 8AM and Dec. 13 by 5PM. The maximum of 2% will be given toward your grade, depending on number of correct answers. Instruction: To take the test, after successfully logging into the D2L, go to ongoing, click on Macroeconomics Assessment. Then, go to quizzes (located on the left corner), and begin taking the test. 5. Examinations (1 st exam 19%, 2 nd exam 20%, 3 rd exam 22%, for a total of 61% of the grade) There are THREE exams. The first exam will be held at the Testing Services (located in the Polk library), and the other two exams will be held in the classroom. The exam dates are as follows: 1st exam (Oct. 3), 2nd exam (Nov. 7), and 3rd exam (Dec. 12). I do not give 2

3 make-up exams. These dates are non-negotiable. The final exam questions will also cover some materials covered for the second exam. Details will be discussed later during the semester. Other Important Course Guidelines and Policies Extra credits: There will be NO extra credits given in this course for any circumstances. So please DO NOT ask for one. Attendance: Although attendance is not required, the professor will check enrollment regularly. The record of attendance will be used to determine when your grade falls on the borderline. It is worth noting that, from my experience, students who often miss class tend to do poorly in this course. In addition, there are many things to talk about in macroeconomics. Unfortunately, due to the time constraint we have, I will not be able to present every topic covered in the textbook. The exams will be based on the material I cover in the class only. Therefore, attending the class, paying attention, and taking notes are very important to do well. Use of electronic devices: You must turn off your cell phones or other similar electronic devices for the duration of the class. In addition, laptop computers are not to be used during the class unless you have made arrangements with the instructor. Academic Integrity: (from UWS 14.01, Wisconsin Administrative Code) Students are responsible for the honest completion and representation of their work, for the appropriate citation of sources, and for respect of others' academic endeavors. Students who violate these standards must be confronted and must accept the consequences of their actions. Academic dishonesty is intolerable and will automatically result in an F for the course. Religious Observance: Students who are unable to attend class or to participate in examination, study or work requirement on a particular day because of religious beliefs will be provided with a reasonable opportunity to make up such work. Emergencies: A written proof of emergencies will be accepted for make-up works and exams. Grading Summary: Problem sets 16% Quizzes 12% Pre and post-test on D2L 3% Reading quiz 8% First Exam 19% Second Exam 20% Third exam 22% 100% This class will not be curved. The grading scale is as follow: % = A % = A- 3

4 % = B % = B % = B % = C = C % = C % = D % = D % = D- Less than 60% = F Course Outline Week of Topics Assignments September 5 The Nature of Economics and Scarcity Ch. 1-2 September 10 September 17 The Nature of Economics and Scarcity (continue) Ch. 1-2 Demand and Supply Ch. 3 In class quiz # 1 Reading quiz # 1 In class quiz # 2 Reading quiz # 2 Pre-test on D2L due Sep 16 (5pm) September 24 October 1 October 8 Demand and Supply (continue) Ch.3 Extensions of Demand and Supply Analysis Ch.4 Measuring the Economy s Performance Ch.8 Measuring the Economy s Performance (continue) Ch.8 Problem set 1 due Sep. 24 In class quiz # 3 Exam I, Oct 3 (Testing Services) Reading quiz # 3 In class quiz # 4 Reading quiz # 4 October 15 Unemployment, inflation and deflation Ch.7 Unemployment, inflation and deflation (continue) In class quiz # 5 4

5 October 22 October 29 Ch.7 Problem set 2 due Oct. 17 Reading quiz # 5 Real GDP and the Price Level in the Long Run In class quiz # 6 Ch.10 Reading quiz # 6 Classical and Keynesian Analyses Ch.11 Problem set 3 due Oct. 31 November 5 Review for Exam II Exam II, Nov. 7 (in class) November 12 November 19 November 26 December 3 Consumption, Real GDP and Multiplier Ch.12 Fiscal Policy and Deficit Spending Ch Fiscal Policy and Deficit Spending (continue) Ch Money and Monetary Policy Ch Reading quiz # 7 In class quiz # 7 In class quiz # 8 Reading quiz # 8 Problem set 4 due Nov. 26 No class on Nov. 28 In class quiz # 9 December 10 Catch up, Review for Exam III Exam III, Dec. 12 (in class) Post-test on D2L due Dec 13, 5pm. 5

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