Principles Of Macroeconomics ECON 201
Principles of MacroeconomicsECON 201MWF 8:00 – 8:50 and 9:00 – 9:50 TCFE 315SPRING 2014“It is better to look ahead and prepare than to look back andregret.”Marcia S. SnyderJackie Joyner-Kersee, Olympic gold medalistCollege of CharlestonSchool of Business5 Liberty Street,Beatty BuildingStudent SuccessCenter- Room 102About This CoursePre-requisite:ECON 200 – Principles ofMicroeconomicsPhone:Important Note:843-953-4818All School of BusinessEmail:better in ECON 200 andsnyderm@cofc.edumajor in the School ofmajors must earn a “C-“ orECON 201 to continue with aBusiness.ECON 200 and ECON 201Office Hours:MWF 10:00 – noonAndBy Appointmentare pre-requisite knowledgefor MKTG 302 and FINC 303and many upper levelbusiness courses.learned in ECON 201 isnecessary for successfulmethod by which wecompletion of many of theprepare today to affordupper level courses offeredthe improvements ofin the School of Businesstomorrow”such as finance, marketingCalvin Coolidge, 30and production. KnowledgethYou will share with meyour active participationin class, your personalpreparation of allassignments, and anindication of yourknowledge gainedthrough your effortswhen asked.Course Description:The foundation of aggregateeconomic analysis ispresented, includingidentification of basic socialgoals, money, creditsystems and theories ofnational income,employment and economicgrowth, how economicstability and growth areinfluenced by fiscal andmonetary policy andinternationalinterdependence.Course ObjectivesThe pre-requisite knowledge“(The) economy is theI will share with you myknowledge and love ofeconomics, my passionfor learning, along withguidance for yoursuccess.of macroeconomics alsoPresident of the Unitedprovides an understandingStates 1872- 1933of the economic perspectiveand to reason accuratelyand objectively about policyalternatives impacting ourdaily lives.Course Objective:Students demonstrate factualknowledge of themacroeconomy and developcritical thinking and analyticalskills through understandingmacroeconomic models andconcepts.The School of Businesslearning goals-QUANTITATIVE FLUENCY:Students demonstratecompetency in logicalreasoning and data analysisskills.-GLOBAL AND CIVICRESPONSIBILITY:Students identify and definesocial, ethical, environmentaland economic challenges atlocal, national andinternational levels. Studentsintegrate knowledge and skillsin addressing these issues.Demonstration ofachievement will be throughcompletion of weeklyhomework assignments, inclass exercises and on termand final exams.College of CharlestonGeneral Education StudentLearning Outcome:Students apply social scienceconcepts, models, andtheories to explain humanbehavior, social interactions,and social institutions.This learning outcome willbe assessed using a shortessay in the final exam.
PRINCIPLES OF MACROECONOMICS ECON 201 SPRING 20142Required Course Materials- Text/homeworkSaplingLearning e-text(Macroeconomics, 3rd edition,Paul Krugman and RobinWells, Worth Publishers, NewYork)Purchase online fromhttp://saplinglearning.comfor 80.00 or you maypurchase an access card fromthe bookstore.SaplingLearningTechnical Problems:During sign up - andthroughout the term - if youhave any technical problems orgrading issues, send an emailexplaining the issue toIf you already have aSapling Learning account,log in then find your course inthe list (you may need toexpand the subject and termcategories) and click the link.New Students click on"Register here". Supply therequested information andclick "Create my newaccount". Check your email(and spam filter) for amessage from SaplingLearning and click on the linkprovided in that email.Find your course in the list(you may need to expand thesubject and term categories)and click the link.Select a payment option andfollow the remaininginstructions.Select a payment option andfollow the remaininginstructions.If you have a Facebookaccount, you can use it toquickly create a SaplingLearning account.Click the blue button with theFacebook symbol on it (just tothe left of the usernamefield). The forms will auto-fillwith information from yourFacebook account (you mayneed to log into Facebook inthe popup window first).Choose a password and timezone, accept the site policyagreement, and click "Createmy new account". Find yourcourse in the list (you mayneed to expand the subjectand term categories) and clickthe link.Select a payment option andfollow the he Sapling support teamis almost always more able(and faster) to resolveissues than your instructor.Required Course Materials – i clicker2An i clicker2 remote isIn order to receive this credit,The remote ID is the series ofrequired for in-classyou will need to register yournumbers and sometimesparticipation.i clicker2 remoteletters found on the bottom ofby Wednesday, Januarythe back of your i clicker215th.remote.Much of the content you putYou must have come to classin your newsletter can alsoat least once and voted on atbe used for your Web site.least one question in order toSo, when you’re finishedcan be no swifter thancomplete this registrationwriting your newsletter,our progress inproperly.convert it to a Web site andeducation. The humanOnce you have responded topost it.“Our progress as a nationa question with yourmind is our fundamentalresource.”i clicker2 is a responsei clicker2 remote, go tosystem that allows you tohttp://www.iclicker.com/registJohn F. Kennedy, specialmessage to Congress onEducation, 20 February 1961respond to questions I poseration.during class, and you will begraded on that feedback forComplete the fields with youryour in-class participation.first name, last name,i clicker will be used every(Please use the first and lastday in class, and you arenames you are registeredresponsible for bringing yourunder at the College ofremote daily.Charleston.) studentCollege-wide ID, andi clicker2 remote ID.
PRINCIPLES Of MACROECONOMICS ECON 201 SPRING 20143Academic IntegrityStudents at the College ofCharleston are expected toadhere to the Honor Systemas outlined in the dfIn the business school youlearn about the legalenvironment of business andabout ethical situations thatare found in the workplace.You should consider theHonor Code not only asmandates for academichonesty, but as a first lessonin appropriate conduct in theworkplace.Specifically “The HonorSystem of the College ofCharleston” is intended toClass participation is requiredand will be assessed throughthe iclicker in-class exercises.Any violation of the Codeswill result in severeconsequences.I consider bringing a fellowstudent’s i clicker2 to class orsigning a fellow student’sname to the attendance sheetto be cheating and a violationof the College of CharlestonHonor Code.promote and protect anatmosphere of trust andfairness in the classroom andin the conduct of daily life.Please read carefully andfollow the “Classroom Code ofConduct,” in the College ofCharleston Student Handbook.Attendance is required andwill be assessed through signin on an attendance sheeteach class period.If you are caught with aremote other than your ownor have votes in a class thatyou did not attend, or signedin for a class you did notattend you will forfeit allpoints and may faceadditional disciplinary action.will be used for the course:Percent of total pointsA 93-100A- 90-92You are responsible for thematerial whether you are inclass or not. Much of thematerial presented in class willnot be in your book. Attendancewill be taken using the iclicker2in class exercises and sign-insheets.B 87-89B 83-86B- 80-82C 77-79C 73-76C- 70-72HOMEWORK ASSIGNMENTS:Reading assignments should becompleted before the lecturecovering that assignment.D 67-69D 63-66D- 60-62FAbsences in excess of 3classes may be penalized bydeducting 2 points from theFINAL GRADE AVERAGE foreach absence over 3. 60Class Participation(i clicker2)5%Homework15%3 Term Exams*50%Comprehensive Final 30%*the lowest term exam will bedropped so each of theremaining exams is worth25% of your total grade.Homework assignments are dueevery Sunday evening by11:45 pm and may becompleted early. Pleasemake sure to designateenough time to complete theassignment before thedeadline to avoid beinglocked out of theassignment.You have an unlimited numberof attempts to complete theassignment; however, there is a5% deduction in the pointsfor leadership isunquestionablyintegrity. Without it, noreal success is possible.”Grading Scale and ProceduresThe following point scale“The supreme qualityawarded for the problem foreach successive attempt. Thehomework problems providesubstantial feedback formistakes so that you canunderstand why the mistakewas made and correctlycomplete the problem.Please make sure you allowenough time to complete thehomework before the duedate/time.TEST FORMAT: All termexams and the final will bemultiple choice formats.Students are expected toarrive on time for exams.Calculators may be neededto complete math questions.Programmable calculatorsare not acceptable andcalculator covers must beleft in book bag or underseat. NO cell phones,MP3’s, I-Pods, etc. areallowed.The Honor Code is in effectat all times.Dwight D. Eisenhower, 34 thPresident of the UnitedStates, 1890-1969
PRINCIPLES OF MACROECONOMICS ECON 201 SPRING 20144Accessibility and Disability StatementStudents in the class, whomust have all relevantrequirements please comehave a documented disabilitypaperwork for testing at thesee me to discuss a solution.and have been approved toSNAP test center at least 1receive accommodationsweek in advance of the test.through the Center forDisability Services / SNAP,Sometimes life eventsplease come and discuss thisintrude on our day to daywith me during my officelives. Your success ishours.important to me. My door isalways open and I am a“To feel much for othersand little for ourselves;to restrain ourselfishness and exerciseour benevolentaffections, constitutethe perfection of humannature.”Adam Smith, the Father ofEconomics 1723-1790You may make arrangementsgood listener.When lifeto take the test with me or atevents intrude keeping youthe SNAP testing center. Ifrom meeting courseEMAIL Policy: I alwaysanswer emails. If you do notreceive an answer within 24hours during weekdays I didnot receive your email. Irarely check email after 8 pmduring the week and onlycheck email sporadicallyduring weekends. Please planaccordingly.Center for Student LearningI encourage students to utilizetheir academic career and the-DO come and see methe Center for Studentservices are available to youimmediately, either duringLearning’s (CSL) academicat no additional cost.office hours or by making ansupport services for assistanceappointment. Please read thein study strategies and courseFor more informationappropriate sections of thecontent. They offer tutoring,regarding these servicestextbook and review yourSupplemental Instruction,please visit the CSL website atnotes BEFORE thestudy skills appointments, andhttp://csl.cofc.edu or callappointment.workshops.(843)953-5635.Students of all abilities haveIf you are havingup. The material is cumulativebecome more successful usingparticular difficulty withand you will likely findthese programs throughoutany of the material in thisyourself falling further behind.-Please DO NOT let it buildcourse:Late Assignments and Make-up ExamsDeadlines are a fact of life inmissed, that exam grade willsanctioned activities, and thethe business world as well asbe zero; however, you maystudent must bring me ain academia.drop your lowest term examrequest from the appropriateLate assignments will not begrade. By missing an exam,College official.accepted.you put yourself in theposition of having noPlease see me if you have anyThis syllabus indicates the“breathing room” on any ofquestions regarding thistentative dates for exams andyour subsequent exams; youpolicy.exams will be announced inmust do well on the remainingclass. You may makeexams.arrangements to take anexam early if you giveThe only exception is forsufficient notice. If an exam isCollege of Charleston
PRINCIPLES OF MACROECONOMICS ECON 201 SPRING 20145Student Engagement - Extra Credit PolicyStudents who are activelyIn the body of the email (nolearned from the presentationengaged in their educationalattachments) write one toas well as if I attended theexperiences, in both academictwo paragraphs answeringevent.and professional settings, areeach of the followingbetter prepared for theirquestions:professional, societal and1) What did you learn? (If youone week of attending thepersonal lives afterthink you did not learnevent. I will always send agraduation. In an effort toanything – explain why.)confirmation that I receivedencourage you to attendspeaker events on campus2) Was this a good use ofyour time? Explain.receive a confirmation – I didand in the School of Business,Paragraphs should beyou may earn up to five(5) extra credit points tobe added to your total termtest points by attending theevent and submitting an emailto me using the followingguidelines:Each extra credit opportunityis worth 1 point.To receive credit, please senda business memo via email tosnyderm@cofc.edu with extracredit: speaker’s name orlecture topic in the subjectline.grammatically correct with nospelling errors. Please makesure you have the speaker’sname and if pertinent,biographic informationcorrect. Details of thespeaker’s topic which arerelevant to what you learnedshould be included in theparagraph.Business memos should be tothe point. Please avoid long,rambling and run onsentences. As your audience,I should be able toEmails should be sent withinyour email. If you do notnot receive your email.Please check the emailaddress and resend.If you enjoyed the speaker,please let him/her know. Thiscan be accomplished byintroducing yourself after theevent or by sending a thankyou note (I will find addressesif needed). These events areopportunities to network andbuild a foundation of contactsthat may be able to help youin a job search or futurecareer opportunity.Enjoy!understand the message youConnect Event & Dean’s Student ForumYou may find events on theCheck out the Dean’sSchool of Business StudentStudent ForumCalendar – CONNECTEVENT located on thehttp://sb.cofc.edu/studentservSchool’s website ct-event.phpThe Dean’s Student ForumFacebook Page for the latestSB Updates!“Education is themost powerfulweapon which youcan use to change theworld”Nelson Mandela,1918- 2013
6Principles of Macroeconomics ECON 201 SPRING 2014TENTATIVE SCHEDULE OF ASSIGNMENTS AND EXAMSSapling Learning homework assignments are due on Sundays at 11:45 pm. Schedule is onDATECHAPTER (S)http://saplinglearning.comTOPICS COVEREDJAN8IntroductionSyllabus and Sapling Learning10CH 1, 2Economic Models13CH 2Circular Flow, Production Possibilities15CH 5Comparative Advantage, Trade17CH 5Trade20No ClassMartin Luther King Holiday22CH 7Measuring the Macroeconomy, GDP24CH 7GDP calculations, Real GDP, Nominal GDP27CH 7GDP, Price Index calculations29CH 7GDP, Price Index calculationsFEB31CH 8Unemployment3CH 8Unemployment and Inflation5CH 8, CH 16Inflation, Disinflation, Deflation (no Phillips Curve)7CH 8, 9Long-run Economic Growth10CH 9Long-run Economic Growth12TEST # 1CH 1, 2, 5, 7, 8 and Business Cycle14CH 9, 10Saving and Investment Spending17CH 10Saving, Investment Spending and the Financial System19CH 10Saving, Investment Spending and the Financial System21CH 10Saving, Investment Spending and the Financial System24CH 11The Multiplier (no Keynesian Cross Graphs just tables)26CH 11Income and ExpenditureMAR28CH 11Income and Expenditure3-9SPRING BREAKNO CLASS10CH 11, 12Economic Recovery, Aggregate Demand and Aggregate Supply12CH 12Aggregate Demand and Aggregate Supply14CH 12Aggregate Demand and Aggregate Supply17CH 12Aggregate Demand and Aggregate Supply19CH 13Fiscal Policy (not on Test #2)21TEST #2CH 9, 10, 11, 1221LAST DAY TO WITHDRAW24CH 13Fiscal Policy26CH 13Fiscal Policy28CH 13Deficits and Debt**31CH 14Money- Money- Money- MoneyAPR2CH 14Money & Banking4CH 14Money & Banking7CH 14The Federal Reserve9CH 15Monetary Policy11CH 15Monetary Policy14CH 19Capital Flows and the Balance of Payments, Exchange Rates16CH 19Exchange Rates18CH 19Exchange Rates21Test #3CH 13, 14, 15, 1923Review of Test #3 and FinalREVIEW SESSIONS FOR FINAL Places and Times to be Determined.8 am - WED, APR 30 COMPREHENSIVE8:00 – 11:009 am – FRI, MAY 02 FINAL EXAMCH 2, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 19 DISCLAIMER: Although the Professor intends to follow this syllabus as closely as possible, there may be times when deviations fromthe material presented herein are necessary. Such examples might include (but are not limited to) natural disasters or major changesin the foundations of macroeconomic theory (or the Professor’s whims).
7CONCEPTS OF LASTING VALUE1.RELATIVE SCARCITYMake the most of what you’ve got2.OPPORTUNITY COSTThere is no such thing as a free lunch3.REAL VERSES NOMINAL VALUESConcentrate on what is real, not just what is easy to see or DEEP LEARNING versus diplomas4.MODELS & ABSTRACT THINKINGIt may be simplistic and unrealistic, but it’s extremely useful5.SUPPLY & DEMAND ANALYSISTeach a parrot the words ‘supply and demand’ and you’ve got an economist!6.EQUILIBRIUMWhere does the pendulum stop?7.KEYNESIAN MACROECONOMICSI know the economy is in equilibrium because the unemployment line I’m standing in isn’t getting any longer orshorter.8.RULES VERSUS DISCRETION IN ECONOMIC POLICYHell is paved with good intentions versus Nero fiddles while Rome burns9.MUTUAL GAINS FROM TRADEMaybe there is a free lunch10.INVESTMENT IS THE KEY TO GROWTHNo pain, no gain. You are investing in your human capital.Recommended Reading ListDarwin Economics, Robert FrankThe Economic Naturalist’s Field Guide, Robert H. FrankThe Spirit Level, Richard Wilkinson and Kate PickettThe Price of Inequality, Joseph E. StiglitzThe Ascent of Money, Niall FergusonThe Cheating Culture. David CallahanThe Skeptical Economist, Jonathan AldredPredictably Irrational, Dan ArielyThe Upside of Irrationality, Dan ArielyThe (Honest) Truth About Dishonesty, Dan ArielyFreakonomics, Steven D. Levitt and Stephen DubnerThe World Is Flat 3.0, Thomas FriedmanHot, Flat and Crowded, Thomas FriedmanSomething New Under the Sun, J.R. McNeilThe Tipping Point, Malcolm GladwellBlink, Malcolm GladwellA Failure of Capitalism, Richard A. PosnerThe Return of Depression Economics, Paul KrugmanMoonwalking With Einstein, Joshua FoerThe Big Short, Michael LewisBoomerang: Travels in the New Third World, MichaelLewis13 Bankers, Simon Johnson and James KwakThe Naked Economist: Undressing the Dismal Science,Charles WheelanAfter the Music Stopped, Alan S. BlinderWhat Money Can’t Buy: The Moral Limits of Markets,Michael J. SandelGenghis Khan and the Making of the Modern World, JackWeatherford
Principles of MacroeconomicsECON 201.001 Spring 2014Please sign and date the following agreement. If I do not receive this signed form by Friday, January17th, you will be dropped from the class. I have read, understand, and agree to the terms outlined in the syllabus for ECON 201 (Spring 2014).I accept all terms as written and understand that e-mail communication will be conductedvia the College of Charleston accounts or through the Sapling website. I have also readand agree to abide by the College of Charleston Classroom Code of Conduct and Collegeof Charleston Honor Code and understand there will be severe consequences for anyviolation of the Honor Code.Name (please print)PreferredSignatureDateContact Phone number:Circle one:FreshmanSophomoreJuniorSeniorMajor MinorWhere are you from?Do you work? If so, approximately how many hours perweek?What type of l
Principles of Macroeconomics ECON 201 MWF 8:00 – 8:50 and 9:00 – 9:50 TCFE 315 SPRING 2014 “It is better to look ahead and prepare than to look back and regret.” Jackie Joyner-Kersee, Olympic gold medalist About This Course Course Objectives I will share with you my knowledge and love of economics, my passion for learning, along with
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ECON 201 Spring 2019 LOYOLA UNIVERSITY Rome Center Economics Department Economic Principles I - Microeconomics (ECON 201) TR 3:40pm – 4:55pm Spring 2019 Syllabus I. GENERAL INFORMATION Instructor: Marshall Langer Office hours: By appointment (convenient times: R 6:15 – 7:15pm) Telephone: 39 347.1763096 Email: mlanger11@gmail.com
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functional elements in human DNA. This includes: protein-coding genes non-protein-coding genes regulatory elements involved in the control of gene transcription DNA sequences that mediate chromosomal structure and dynamics. The ENCODE Project catalog of functional elements ENCODE has catalogued functional elements in human, mouse, Drosophila, and a nematode. Conclusions of the ENCODE project .
