Chapter 1 – Thinking like an Economist
Chapter 2 – Models, Comparative Advantage & Trade
Chapter 3 – Supply & Demand
Chapter 4 – Macroeconomic Overview
Chapter 5 – GDP & Unemployment
Chapter 6 – Inflation & Interest Rates
Chapter 7 – Economic Growth
Chapter 8 – The Labor Market- Workers, Wages, and Unemployment
Chapter 9 – Saving and Capital Formation
Chapter 10 – Money, Prices and the Fed
Chapter 11 – Financial Markets
Chapter 12 – Business Cycles
Chapter 13 – Spending & Fiscal Policy
Chapter 14 – Monetary Policy
Chapter 15-Aggregate Demand, Aggregate Supply, and Inflation
TEXT & MATERIALS
The materials required for the course is the book and the online software called Connect.
- Book: Principles of Microeconomics by Robert H. Frank and Ben Bernanke, 8th edition
- Homework/Test: McGraw Hill Connect – Online companion for Homework & Exams
There are a few format options to pick from:
- Buy physical book from bookstore. The book with come with a code that allows you to access Connect (~$110-$120)
- Buy online version from the course link with ebook and Connect ($100)
- Lay Away Plan – Enroll into Connect before the first assignment with the trial then pay in two weeks. Then you can purchase options 1 or 2.
DESCRIPTION
Macroeconomics (EC2202) focuses on aggregate or economy-wide values such as national output, unemployment, interest rates, and price inflation (or deflation). This is an introduction to determinants of national income, output, monetary and fiscal policy.
The class will be taught in a discussion and discovery fashion that centers on a presentation of the most important topics and a discussion. We will be not only covering topics related to US economics but also global economics. You are expected to ask questions and add color to the discussions. There are no wrong answers or bad questions. The better the discussions are, the easier your exams will be. Economics has many abstract and theoretical topics that will require studying. The lectures will not cover all topics from the book but you will still be responsible for the reading. Reading, attending, and taking notes is the best way to ensure you will get a good grade in class. Especially reading.
GRADING
| Assignment | Percentage |
| Homework (Connect) | 35% |
| Discussion (Blackboard) | 15% |
| Midterm (Connect) | 25% |
| Final (Connect) | 25% |
| Web Paper (Webflow) | Test Replacement |
EXAM
The exams will be administered online through McGraw Hill Connect. It will be timed. The exams are straightforward with 10-20% that may be more difficult. They will include questions from the book, assignments, and lectures.
The exam is not definitional. It requires one to apply what you have learned. They are similar to homework questions but less difficult.
HOMEWORK ASSIGNMENTS
Problem sets will be administered online using McGraw Hill Connect. Purchase the book and online companion as soon as possible. I strongly encourage you to work in groups when doing the problem sets. Make friends and ask for help. Late problem sets are not accepted for any reason. You will be allowed to drop the three lowest scores. THERE ARE NO MAKE-UPS OR EXTENSIONS. Extra credit assignments a given throughout the course.
DISCUSSION
After about every two chapters, there will be an in-class discussion. Participation credit is awarded in class but also can be made through an online discussion as well. Credit is only given when value is added to the discussion. Contribution can be in the form of a shared article, study, personal story, opinion, or stat but should not duplicate previous contributions. If the contribution is an opinion or story, evidence or economic reasoning should be supplied.
SCHEDULE
- Syllabus & Introduction
- Chapter 1 (Thinking Like an Economist)
- Chapter 2 (Comparative Advantage)
- Chapter 3 (Supply and Demand)
- Chapter 4 (Spending, Income & GDP)
- Chapter 5 (Inflation & Price Level)
- Chapter 6 (Wage & Unemployment)
- Chapter 7 (Economic Growth)
- Midterm
- Chapter 8 (Saving, Capital Formation & Financial Markets)
- Chapter 9 (Money, Prices & Financial Intermediaries)
- Chapter 10 (Short-Term Economic Fluctuations)
- Chapter 11 (Spending, Output & Fiscal Policy)
- Chapter 12 (Monetary Policy & the Federal Reserve)
- Chapter 13 (Aggregate Demand, Aggregate Supply & Business Cycles)
- Chapter 14 (Macroeconomic Policy)
- Chapter 15 (Exchange Rates, International Trade, and Capital Flows)
- Final