Baylor University
Economics 2307_Fall 2011
Principles of Macroeconomics
Lecturer: John M. M. Ssozi (PhD)
Class Time: MWF 09:05AM – 09:55AM
Office: Cashion 337
Classroom: CASHION 307
Office Hours: MWF 08:00-08:50 AM or by appointment
Office Phone: (254) 710 6793
E-mail: John_Ssozi@baylor.edu
Required Text Book: Baumol, W. and Blinder, A. Macroeconomics: Principles and
Policy, 12th Edition (2011).
Course Objectives: The Principles of Macroeconomics course provides a study of the
basic macro-economic concepts, business environment, economic role of government,
national income analysis, national income theory, money and banking, business cycles,
monetary and fiscal policy, and open economy economics. The over-riding goal of this
course is to make students better decision-makers in their careers aware of the national
and international economic environment. The principles and theories are also applicable
to personal financial and economic decisions. The course trains students to be critical
thinkers in real life situations: business, public policy and service to the community.
Learning Outcomes: At the end, students who complete this course will be able to:
 Understand the economic process of growth and development.
 Understand the causes and possible solutions to economic recessions: how and
why different fiscal and monetary policies are required to overcome recessions,
accelerate economic growth and maintain economic stability.
 Understand the position of the United States in the world economy, and why some
countries are poor and what needs to be done to increase economic growth and
development in poor countries.
 Apply the economic way of thinking to individual decisions, business decisions,
public policy and service in the U.S. and international community.
Course Assessment
Grades will be determined by YOUR PERFORMANCE on three in-class examinations, three
quizzes, graded homework assignments, and a cumulative final examination. Grades will be
assigned as follows: 600-540 = A; 539-528 = B+; 527-480 = B; 479-468 = C+; 467-420 = C;
419-360 = D; below 360 = F
The points will be distributed as follows:
Exam 1
100 points
Exam 2
100 points
Exam 3
100 points
Quiz 1
25 points
Quiz 2
25 points
Quiz 3
25 points
Homework
75 points (problem sets)
Final Exam
150 points
Total possible
600points
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Class Web
You may visit “Blackboard” via Baylor University home page for your
homework/assignments, readings, announcements and continuous assessment/ scores. I
will be sending reminders via e-mail.
Course Outline
I. Introduction to Economics
Chapter 1: What is economics?
Chapter 3: The Fundamental Problem: Scarcity and Choice
Chapter 4: Supply and Demand: A Review
II. The Macro-Economy: Aggregate Supply and Demand
Chapter 5: An Introduction to Macroeconomics
Chapter 6: The Goals of Macroeconomics Policy
Chapter 7: Economic Growth: Theory and Policy
Chapter 8: Aggregate Demand and the Powerful Consumer
Chapter 9: Demand-side Equilibrium: Unemployment or Inflation?
Chapter 10: Bringing in the Supply Side: Unemployment and Inflation?
III. Fiscal and Monetary Policy
Chapter 11: Managing Aggregate Demand: Fiscal Policy
Chapter 12: Money and Banking System
Chapter 13: Monetary Policy: Conventional and Unconventional
Chapter 15: The Debate over Monetary and Fiscal Policy
Chapter 16: The Budget Deficit and National Debt
Chapter 17: The Trade-Off between Unemployment and Inflation
IV. Open Economy Macroeconomics
Chapter 18: The International Monetary System: Order or Disorder?
Chapter 19: Exchange Rates and the Macroeconomy
Final Exam will be cumulative.
Final Exam day and Time: Saturday, December 10, 2011, 11:30am – 01:30 pm
***The overall pace of the course will ultimately dictate which chapters are covered during
each lecture.
Exam/Quiz/Homework Policy:
 Under normal circumstances there will be no make-up exams and quizzes.
However you may be given a make-up exam/quiz only if you miss it due to illness
or another valid and verifiable excuse. If necessary the department administration
may be involved in verifying the validity of your excuse.
 Late submission of homework assignments will cost you 2% of the homework
score for each hour passed the due time within four hours. After four hours past
the due time NO homework will be accepted.
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
There will be no homework assigned over the holiday weekends, such as over Fall
Break and Thanksgiving Holidays.
Attendance:
According to the policy of the Hankamer School of Business, to earn academic credit in a
particular course, a student must be officially enrolled in that course by the end of the
second full week of the semester and must attend at least 75percent of all class sessions for
that course. Students who do not fulfill these requirements will receive a grade “F” in the
course. Faculty members are responsible for:
 Providing notification for students either through posted attendance records
(such as on Blackboard) or direct correspondence before the threshold for grade
action is reached.
Special needs:
Please inform me during the first week of class if you have any conditions that may limit or
affect your ability to participate in this course so that we can make necessary arrangements.
Expectations:
You are expected to: (1) carefully study the assigned reading material prior to the class; (2)
attend all classes, take class notes as needed; (3) submit all homework assignments on time
and be prepared to discuss them in class; (4) carefully review all relevant course material
prior to each quiz and examination; (5) seek assistance when needed. The examinations will
assume that all these expectations have been fulfilled.
Blackboard:
Important course contents will be available on the Blackboard website for this course.
E-mail:
I will frequently communicate with you by e-mail, so you should check your Baylor
student e-mail often.
Academic Honesty:
Integrity is the trademark of Baylor University. Hence conduct yourself accordingly.
The first penalty for dishonesty on an exam/quiz/homework is getting a zero. Second,
depending on the specific infraction and the advice of Chair of the Economics
Department, the case may be referred to the Office of the Dean for further action and
penalties.
Emergency plan:
Every Baylor University campus building has emergency shelter and evacuation plans.
Please familiarize yourself with the plans of each building in which you take classes or
attend meetings. Make sure to note the routes to the lowest level of the buildings for
shelter during inclement weather, as well as exits from the buildings in the event of fire
or other emergency.
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Policy regarding cell phones, lap tops, and other electronic devices:

The use of lap top computers is not allowed in my class. Exception: If you have a
documented physical or learning disability and the use of a computer in the classroom
(to be used only for taking notes on the day’s lecture) is recommended as a
reasonable accommodation to your situation, please set up an appointment to meet
with me so we can discuss this.

The use of cell phones is not allowed in my class. You may not use your cell phone
as a clock or as a calculator or for any other reason during class or during quizzes or
exams. You will need to turn your cell phone off or to silent before the beginning of
class and leave your cell phone in your purse, backpack, or pocket until the end of the
class period. If you forget to turn off your cell phone and it rings or vibrates during
class, turn it off immediately without checking to see who is calling. At no time
during my class should your cell phone be visible, audible, or in use.

The use of iPods is not allowed in my class. If you have an iPod, it must be turned
off and put away during class and during quizzes and exams, and the ear buds must
be removed from your ears.
FINAL EXAMINATION: Saturday, December 10th 2011 at 11:30am – 01:30pm.
The final examination will be cumulative/comprehensive.
IMPORTANT DATES
August
22
December
5
Classes Begin (Monday)
Last Day of Classes (Monday)
Holidays
September
October
November
5
14-16
23 -27
Labor Day – University Holiday
Fall Break (Friday through Sunday)
Thanksgiving Holidays (Wednesday through Sunday)
Quizzes
September
October
November
2
7
4
Quiz 1
Quiz 2
Quiz 3
Examinations
September 16
October
21
November
21
December
10
Exam 1
Exam 2
Exam 3
Final Examination at 11:30am – 01:30pm
*****Final Exam Venue: TO BE ANNOUNCED
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