ECON1132 Spring 2016 Principles of Macroeconomics Instructor: Nicholas Diebel Class Meeting Days: Monday/Thurday Office: Maloney 333A Class Meeting Hours: 6:30-7:45pm (Section 06) E-Mail: diebeln@bc.edu 8-9:15pm (Section 07) Office Hours: Tuesday 2-3 Class Location: O Neil 257 or by appointment Subject to change, at the discretion of the instructor. Course Description The primary goal of this course is to equip you with the ability to conduct economic analysis. By the end of the course you will have an understanding of major economic institutions, how markets function, and challenges in using policy to influence the levels of unemployment, inflation, and economic growth. In addition, you will be able to build economic models that describe significant parts of our economic system, applying those models to current events. Emphasis in this course will be placed on the skills needed to communicate economic analysis carefully and effectively. The course will be broken into four main parts: 1. Microeconomic review 2. Macroeconomic data and long-run growth 3. Business cycles and policy responses 4. Topics in macroeconomics Course Objectives At the completion of this course, students will be able to: 1. Build economic models that describe significant parts of our economic system. 2. Identify the strengths and weaknesses of economic models and frameworks. 3. Apply economic models to current events using graphical analysis and economic reasoning. 4. Explain economic analysis in a manner that is understandable to the general public. Text and Sapling An individual access code to Sapling is the only required material for the course. The textbook, which is not required for this course, is Modern Principles: Macroeconomics, 3 rd Edition, by Tyler Cowen and Alex Tabarrok. ISBN 9781464160479 http://www.macmillanhighered.com/catalog/product/modernprinciplesmacroeconomicsthirdedition-cowen REGISTER FOR SAPLING USING THIS LINKhttp://bit.ly/saplinginstructions Registration is required but you are not required to buy the online version of the text. The class 1
is Boston College-ECON 1132 - Principles of Macroeconomics - Spring16 - DIEBEL During sign up or throughout the term, if you have any technical problems or grading issues, please send an email to support@saplinglearning.com explaining the issue. Grade Distribution Homework Assignments 20% Participation 10% Midterm Exam 1 20% Midterm Exam 2 20% Final Exam 30% In rare cases, this weighting may vary to reflect excused exams, academic integrity violations, or other circumstances at the instructor s discretion. Homework Assignments There will be weekly assignments posted on Sapling. Students are encouraged to work with their classmates on assignments, but you will only receive credit for the assignments completed in Sapling under your name. Any incomplete exercises within an assignment will receive zero points. The lowest individual homework score will be dropped. Absolutely no late assignments will be accepted. Exams We will have two midterms and a comprehensive final exam. Midterm Exam 1 Midterm Exam 2 Final Exam Friday, February 25, in class Wednesday, April 11, in class Section 04: Monday, May 16, 6:30pm Section 05: Monday, May 16, 8:00pm All exams must be taken as scheduled for the section in which you are registered. The exams will be a combination of multiple choice and short answer. I will distribute practice exams through the Canvas course web site prior to each exam and will review select problems in class. The comprehensive final exam is mandatory. The final exam date and time are assigned by BC and cannot be changed. Thus, please make your travel arrangements with these dates in mind as it is not possible to reschedule any of these exams. Course Policies General Computers are not to be used unless instructed to do so. Phones must be silenced or turned off. In-class quizzes and exams are closed book, closed notes. Lecture slides will be posted on Canvas approximately one week after the lecture is given. All lecture slides required for an exam will be posted on Canvas prior to the exam. Check Canvas and your email frequently throughout the semester for announcements and supplementary materials. 2
Always be respectful towards your classmates and instructor. This includes arriving on time, not leaving class early, and not disrupting lectures and exams. Grades Grades will be posted on Canvas. Students are responsible for tracking their progress by referring to the online gradebook. Do not expect any extra credit opportunities. Treat all assignments as your opportunities to show me what you ve learned. Any student wishing to dispute a grade received on a particular assignment or exam must provide a type-written document to me in my mailbox in the Economics Department, detailing the specific nature of the complaint, within 48 hours of receiving the grade. If this is not done, I will not consider any grade changes. Attendance and Absences Students are responsible for all missed lectures, regardless of the reason for absence. It is also the absentee s responsibility to get all missing notes or materials. Remember that the lecture slides I post online will not be the only material that I cover in class. Exams If you need to miss an exam due to unusual circumstances (e.g. significant illness, family emergency), please contact me at least 24 hours before the start of the exam. Without advance notice of absence, you are liable to receive a zero on the exam. A justifiable reason is an illness with permission from you Dean, a school-sanctioned athletic event with official documentation, or a family emergency with permission from your Dean. Please note that neither an extracurricular activity nor course work for other classes is a valid reason to miss an exam. There are no make-up exams. There will be no rescheduling of the final exam. If you miss the first midterm for any justifiable reason, the weight of the second midterm will be increased to 30% and the final exam to 40%. If you miss the second midterm for any justifiable reason, the weight of the final exam will be increased to 50%. If you miss both midterms for justifiable reasons, your final exam weight will increase to 70%. Missing the final exam will result in a zero. If you miss a quiz, you will receive a zero unless you provide official documentation excusing the absence. Economics and the Core - This course is designed to meet a number of needs. It is required for the economics major and for all CSOM students, it is one of the choices to fulfill the social sciences CORE requirement, and it serves as an elective to anyone who wants an introduction to macroeconomics. It introduces the basic tools of macroeconomic analysis and applies these tools to problems of both current and historical interest. It explores the development of macroeconomics through the work of Keynes and post-keynesian critics. Finally, it looks at how we bring together what we learn from economics with what we learn from other fields. Academic Integrity - Your work on exams is to be entirely your own. Be sure you are familiar with the section on Academic Integrity in the Boston College Catalog or online at BCInfo. Cheating on any exam or quiz will result in: 3
1. an automatic failure in the course and 2. reporting of the incident to the Dean s Office and the College of Arts and Sciences Academic Integrity Committee, as requested by the university. See http://www.bc.edu/content/bc/offices/stserv/academic/integrity.html for a full discussion of the university s policies and procedures regarding academic integrity. Accommodations for Learning Disabilities - If you have a learning disability, you are strongly encouraged to request accommodations for this course. Please register with either Kathleen Duggan (kathleen.duggan@bc.edu) Associate Director, Academic Support Services, the Connors Family Learning Center (learning disabilities and ADHD) or Paulette Durrett (paulette.durrett@bc.edu), Assistant Dean for Students with Disabilities, Dean of Students Office (all other disabilities). Advance notice and appropriate documentation are required for accommodation. Student Athletes - If you are a student athlete, please provide me as soon as possible with the appropriate documentation and contact information for your coaches and your travel/game schedule. I will work with the Athletic Department and your coaches to help accommodate your travel and practices. Steps for Success 1. Do the assigned readings before coming to class. Come to the next class with any questions that you may have about the readings. 2. Attend the lectures, take notes, and be an active learner. Both you and your classmates will benefit by your asking and answering questions throughout the semester. 3. Discussing the lectures and course assignments with your classmates will benefit you greatly in understanding the material. 4. When preparing for exams, let the lectures guide you as to what is really important. 5. Take advantage of my office hours. I am here to help. 6. Take the homework questions seriously. They are the best indication of whether or not you understand the material and should aid you in your learning experience. The development of your understanding of economics hinges critically on the time spent working through your homework assignments. 7. Check the Canvas course website regularly for updates and new supporting materials. 8. Use free tutoring resources at the Connors Family Learning Center (in O Neill) if you feel like you are falling behind on the material. Don t wait until the week before the exam! 4
Tentative Course Outline: The weekly coverage might change as it depends on the progress of the class. However, you must keep up with the reading assignments. Week Content Reading Week 1-1/18 Introduction, Supply and Demand CT3 and CT4 Week 2-1/25 Supply and Demand Trade and Comparative Advantage Week 3-2/1 International Trade CT19 Week 4-2/8 Measurement and Growth CT6 and CT7 Week 5-2/15 Solow Growth Model CT8 Week 6-2/22 2/22 Midterm 1 Review 2/25: Midterm 1 CT2 STUDY Week 7-2/29 Saving and Investment CT9 HAPPY LEAP DAY!! Week 8-3/7 SPRING BREAK 2016! Go Outside Week 9-3/14 Unemployment and Inflation CT11 and CT12 Week 10-3/21 Week 11-3/28 Week 12-4/4 Business Cycles and AD-AS Model 3/24 Holy Thursday - NO CLASS AD-AS Model and Policy 3/28: NO CLASS - Still Easter Break AD-AS Model and Policy 4/7 - Midterm 2 Review CT13 and CT14 CT14 and CT15 STUDY Week 13-4/11 4/11 Midterm 2 Monetary Policy CT16 Week 14-4/18 Monetary Policy 4/18: Patriot s Day 4/19: Last Date to withdraw Week 15-4/25 Fiscal Policy CT17 and CT18 Week 16-5/2 Final Review STUDY FINAL SECTION 06: Monday, May 16, 6:30pm SECTION 07: Monday, May 16, 8:00pm You must take the exam with the section in which you are registered. 5