Syllabus
ECON 2313-002
Fall Semester, 2010
Course: Principles of Macroeconomics
Learning Objectives: (1) To achieve an understanding of fundamental principles of
economics such as opportunity cost, the law of demand, and comparative advantage; (2) to
obtain familiarity with basic measures of aggregate economic activity such as gross
domestic product, the unemployment rate, and the money supply; (3) to comprehend the
essential features of the principal (competing) theories of aggregate output (or income)
and employment, inflation, exchange rates and the balance of trade; and (4) to appreciate
the link between macroeconomic theory and policy.
Professor:
Christopher Brown
Business 412
870-972-3737 (tel.)
870-972-3417 (fax)
crbrown@astate.edu
Office Hours: MTW, 1:30 to 3:00 p.m.
R, 10:30-12:00 a.m.
Text:
Robin Bade and Michael Parkin. Foundations of Macroeconomics plus MyEconLab
plus eBook 1-semester Student Access Kit, 5th Edition (Boston: Prentice Hall), 2011.
ISBN-10:0-13-612583-2. ISBN-13: 978-0-13-612583-9.
MyEconLab: MyEconLab is an online homework, tutorial, and assessment system that
accompanies the Bade and Parkin text. Homework assignments completed online using
MyEconLab will count for 20 percent of your grade in this course. There will be at least one
graded homework assignment per chapter (we will cover 17 chapters in this course). The
nine (9) highest homework scores will be counted toward your “homework” score (see
below). MyEconLab provides access to economic news and videos from the Financial Times
and ABC, as well as a complement of learning aids such as etext, guided solution, and the
grapher tool. See attached sheet for registration instructions. Do not purchase a text not
packaged with MyEconLab.
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Examinations and Grades: The final grade is determined on the basis of the student’s
performance on four (4) examinations and homework assignments completed using
MyEconLab. Exams will consist of multiple choice questions. The various components have
the following weights in the determination of the student’s final average:
Weight
Item
(Percent)
Homework
20
Exam 1
15
Exam 2
15
Exam 3
20
Final Exam
30
Total
100%
The following scale will be applied to determine the student’s final grade:
Range
(Percent) Grade
88-100
A
77-87
B
65-76
C
50-64
D
Below 50
F
Web Site: Browse to mywebs.astate.edu/crbrown/2313.htm to visit the ECON 2313 Home
Page. The web site is best viewed by Internet Explorer 6.0 or higher. The course home page
contains class announcements, links to course materials (such as PowerPoint slides used
during lectures), and links to articles or other materials relevant to the course.
Make-up Policy: Should a student be forced to miss an examination, the student should
make every effort to notify the professor in advance of the exam to be missed. If unable to
contact the professor (by phone or e-mail) prior to the exam, the student should contact
the professor as soon as possible. Presuming the student has made a good faith effort to
notify the instructor, and if the student can present a credible excuse for his or her absence,
then a make-up exam will be arranged.
Cell Phones: Be sure to turn off your cell phone during lectures. Students are warned that
surreptitious texting may result in chastisement and/or public humiliation.
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Schedule of Topics, Reading Assignments, and Examinations
Date
Aug 23
Aug 25
Aug 27
Aug 30
Sept 1
Sept 3
Sept 6
Sept 8
Sept 10
Sept 13
Sept 15
Sept 17
Sept 20
Sept 22
Sept 24
Sept 27
Sept 29
Oct 1
Oct 4
Oct 6
Oct 8
Oct 11
Oct 13
Oct 15
Oct 18
Oct 20
Oct 22
Oct 25
Oct 27
Oct 29
Nov 1
Nov 3
Nov 5
Nov 8
Nov 10
Reading
Assignment
Topic
Introduction
The Economic Way of Thinking
Ch. 1
Making and Using Graphs
Appendix to Ch. 1
U.S. and Global Economies
Ch. 2
Opportunity Cost; The Production
Ch. 3, pp. 61-72
Possibility Frontier
Comparative Advantage and Gains from Trade
Ch. 3, pp. 72-82.
Labor Day Holiday
Demand and Supply
Ch. 4, pp. 83-94
Market Equilibrium; Effects of
Ch. 4, pp. 95-112.
Price Ceilings and Floors
Exam 1
National Income Accounting
Ch.5, pp. 113-126
Use and Limitations of Real GDP
Ch. 5, pp. 127-134
Measuring Real GDP
Appendix to Ch. 5
The Consumer Price Index (CPI)
Ch. 6
and the Cost of Living
Jobs and Unemployment
Ch. 7
Potential GDP and the
Ch.9
Natural Rate of Unemployment
Saving, Investment, and the
Ch. 10, pp. 241-255
Interest Rate
Government in the Loanable Funds Market
Ch. 10, pp. 256-264
Business Cycle Definitions and Facts
Ch. 13, pp. 325-331
Aggregate Supply and Demand
Ch. 13, pp. 332-352
Exam 2
Aggregate Expenditure;
Ch. 14, pp. 355-363
The Consumption Function
Equilibrium Expenditure
Ch. 14, pp. 364-369
The Multiplier Effect
Ch. 14, pp. 370-374
Money and the Financial System
Ch. 11, pp. 267-282
Bank Deposit (Money) Creation; Fed Open
Ch. 11, pp. 283-294
Market Operations; The Money Multiplier
Money and the Interest Rate
Ch. 12, pp. 297-305
The Quantity Theory of Money
Ch. 12, pp. 306-324
The Federal Budget
Ch. 16, pp. 407-418
Discretionary Fiscal Policy
Ch. 16, pp. 419-425
The Automatic Stabilizers
Ch. 16, pp. 426-430
Exam 3
Monetary Policy;
Ch. 17, pp. 433-445
The Transmission Mechanism
Alternative Monetary Policies
Ch. 17, pp. 446-459
Trade Patterns and Trends;
Ch. 18, pp. 461-465
International Outsourcing
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Date
Nov 12
Nov 15
Nov 17
Nov 2226
Nov 29
Dec 1
Dec 3
Dec 6
Dec 8
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Topic
Comparative Advantage--Again
Effects of Import Tariffs, Quotas,
and other Nontariff Barriers
Arguments for Trade Restrictions
Thanksgiving Holiday/
Fall Break
The Balance of Payments
Exchange Rates
The Chinese yuan Issue;
Speculation and “Hot” Money
Review Session
Final Examination, Comprehensive 1
12:30-2:30 p.m.
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Reading
Assignment
Ch. 18, pp. 465-475
Ch. 18, pp. 476-482
Ch. 18, pp. 482-492
Ch. 19, pp. 493-500
Ch. 19, pp. 501-511
Ch. 19, pp. 512-518.
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Textbook: Bade/Parkin: Foundations of Macroeconomics 5e
Course Name: ECON 2313 Principles of Macroeconomics (1)
Course ID: XL0I-P1OQ-301Z-20M2
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