ASSUMPTION UNIVERSITY MARTIN DE TOURS SCHOOL OF MANAGEMENT & ECONOMICS DEPARTMENT OF BUSINESS ECONOMICS BG 2400/ECO 2202 MACROECONOMICS COURSE SYLLABUS 1/2015 MSM&E’s Vision and Mission Vision: Leading International Business School in ASEAN Mission: Shaping Graduates towards Global Business Excellence Assumption University’s Uniqueness and Identity Uniqueness of the University: Identity of AU Students: An International Catholic University Ethics English Proficiency Entrepreneurial Spirit Course Information Course Title: Prerequisite(s): Class Time: Class Room: BG 2400/ECO 2202 Macroeconomics NONE According to assigned section. According to assigned section Each section is divided into 2 sessions – a lecture and a discussion. Classes given in SM218, SM219 and VME0101 are lectures. Classes assigned elsewhere are discussions. Instructor Information Instructors: Email: Office Hours: Course Web: Course Description A. Poonyawat S. posen29 at yahoo.com A. Chaichana P. a.ceazar.eco at hotmail.com Dr. Shih-­‐Tse L. fred.in.abac at gmail.com A. Zhuoran Z. zzhang at au.edu Dr. Papar K. adjaan at gmail.com By appointment with your instructor(s) only www.deefred.net/Fred/BG2400/BG2400.html Overall picture of economic system, gross production, national income, output, inflation, deflation, unemployment and business cycles, consumption saving, and investment, economic growth, role of the government and Central Bank in fiscal and monetary policies, BG 2400/ECO 2202 Microeconomics – 1/2015 (Course Outline) 1 balance of trade, balance of payment, importance and role of macroeconomics in a basic economic development, various economic problems and their solutions. Course Objectives Upon the completion of the course, the students will be able to: • Understand important macroeconomic concepts and identify the macroeconomic problems. • Discuss and interpret key economic indicators. • Explain and analyze the basic macroeconomic models. • Describe the role of commercial bank and the central bank in economic system. • Analyze the impacts of the fiscal and monetary policies on the macroeconomics front. • Discuss the basic concepts of international trade and the exchange rate regime. Textbooks Required: Karl E. Case, Ray C. Fair and Sharon Oster (2014). Principles of Macroeconomics (11th Intl. ed.) Pearson Suggested: Marks Allocation MyEconLab – online learning support from Pearson Quiz 1: Quiz 2: Assignments: Midterm Exam: Final Exam: Total Exams and Participation 10% 10% 15% 30% 35% 100% Quizzes: There are 2 quizzes, given at Suvarnabhumi campus. Each quiz contains 25 multiple choices questions. Quiz 1 includes Chapters 5 -­‐ 7. Quiz 2 consists of Chapters 10 and 11. Midterm Exam: Consists of 1 short-­‐essay/calculation question, and 30 multiple-­‐choice questions. The exam covers Chapters 5, 6, 7, 8, and 9. Final Exam: Consists of 2 short-­‐essay/calculation questions, 40 multiple-­‐
choice questions. The exam includes Chapters 10, 11, 12, 13, and 20. Assignments: Students are required to practice “selected” questions in discussion sessions. Instructors will provide booklets/paper for students to write. Students gain 1% of the course evaluation each week if they submit their work/answers to all discussed questions to their instructor at the end of the discussion class. Saturday September 19, 2015 at 12.00-­‐13.00 Saturday November 21, 2015 at 12.00-­‐13.00 Assigned in discussion sessions; see below. Friday October 9, 2015 at 15:00-­‐17:00 Friday December 18, 2015 at 9:00-­‐12:00 BG 2400/ECO 2202 Microeconomics – 1/2015 (Course Outline) 2 Policy on Makeup Quizzes Students with legitimate time conflicts or special circumstances can take the same-­‐day makeup quizzes at 17.30-­‐18.30, Hua Mak Campus. The midterm will account for 40% of the grade instead for those who cannot take the same-­‐day makeup quiz 1. Likewise, the final will account for 45% of the grade for those who cannot take the same-­‐day makeup quiz 2. •
Legitimate time conflicts are when students have to take a class or an exam conducted by Assumption University during the same time or serve on university duties. Students must provide registration receipt as a proof of time conflicts or memos from proper university offices. •
Special circumstances are when students have an illness or very close family members passed away. Students must provide medical notes or a copy of death certificate as a proof of special circumstances. Course Schedule Week Dates Lecture 1 Aug 10 -­‐14* Course Outline 2 Aug 17 -­‐21 Chapter 5 -­‐ Introduction to Macroeconomics 3 Aug 24 -­‐28 Chapter 6 -­‐ Measuring National Output and National Income 4 Aug 31 -­‐ Sep 4 Chapter 7 -­‐ Unemployment, Inflation and Long Run Growth 5 Sep 7 -­‐ 11 Chapter 8 -­‐ Aggregate Expenditure and Equilibrium Output 6 Sep 14 -­‐ 18 Chapter 9 -­‐ Government and Fiscal Policy 7 Sep 21 -­‐ 25 Chapter 10 -­‐ Money Supply and Federal Reserve System 8 Sep 28 -­‐ Oct 2 Midterm Review 9 Oct 5 -­‐ 9 Midterm Examination 10 Oct 12 -­‐ 16* Chapter 10 -­‐ Money Supply and Federal Reserve System 11 Oct 19 -­‐ 23* Chapter 11 -­‐ Money Demand and Equilibrium Interest Rate Chapter 12 -­‐ Determination of Output, Price Level and Interest 12 Oct 26 -­‐ 30 Rate Chapter 12 -­‐ Determination of Output, Price Level and Interest 13 Nov 2 -­‐ Nov 6 Rate 14 Nov 9 -­‐ Nov 13 Chapter 13 -­‐ Policy Effects and Cost Shock in AD/AS Model Nov 16 -­‐ Nov 15 20 Chapter 20 -­‐ Open Economy Macroeconomics Nov 23 -­‐ Nov 16 27 Chapter 20 -­‐ Open Economy Macroeconomics 17 Nov 30 -­‐ Dec 4 Final Review 18+ Dec 8 -­‐ 21 Final Examination Remarks: Discussion Course Outline Revision: Math GDP Calculation* 6.1, 6.9, 6.18 7.9, 7.15, 7.18 8.4, 8.6, 8.14 9.3, 9.7, 9.11 Money Creation Process* Discuss Midterm Questions 10.5, 10.6, 10.12 11.1, 11.7, 11.15 12.5, 12.8,12.11 12.5, 12.8,12.11 13.2, 13.10, 13.13 20.5, 20.6, 20.9 Final Review Wed, Aug 12 no class Mon, Oct 12 no class -­‐ students need to make up on other days Fri, Oct 23 no class -­‐ students need to make up on other days BG 2400/ECO 2202 Microeconomics – 1/2015 (Course Outline) 3 COURSE INFORMATION IN MORE DETAILS Course Objectives The goal of this course is to introduce you to understand macroeconomic concepts and theories, and then to learn how to apply them to the current economic issues. Language of Instruction English is the only language of instruction for this course. This means you must communicate in English with the instructor both in and outside of classroom (such as writing the exam or seeking help during office hours). You must also speak to your classmate in English during class. (This policy is imposed to maintain the quality, and more importantly the fairness of teaching in all sections.) Course Requirements There are 2 exams in this course: midterm and final. These exams will consist of short-­‐essay, multiple-­‐choices. As for class participation, throughout the semester we expect you to share views with the class on the materials we cover during lectures. You should be willing to give out your own opinions, such as whether you agree or disagree with the concepts or theories we learn. Office Hours and Review Regular office hours are displayed in front of each lecturer’s office. Students should not let questions accumulate until the week before an exam. It is not healthy to panic at the last minute and it is difficult to work things out under pressure. More importantly, the course materials are highly related. Therefore, there will be a snowballing effect if you do not keep up with the materials. It will be very hard to catch up. For students with a legitimate time conflict with the office hours, you can make an appointment with lecturers by email when you need help. Normally, lecturers give a review session before each exam. Communication Policies When students need to contact lecturers via email, please use the email address stated on the first page. •
Emails sent to the wrong email address would not be answered (because the instructors do not check other emails regularly). •
The email should have proper subject heading. •
Address your lecturers properly. Use Professor/Professor Name for those with an academic title (e.g. Assistant Professor). Use Dr. for those with a Ph.D. Never ever use the words Teacher nor Ms./Mrs. to address lecturers with a PhD. – For some, these are considered insulting terms. •
No mixing of English with Thai (or any other languages) words, e.g. no Ka/Krub, no Ajarn – such a conduct is deemed unprofessional, and hence it is impolite to write so to an instructor. BG 2400/ECO 2202 Microeconomics – 1/2015 (Course Outline) 4 If there is an important announcement (e.g. extra office hours), lecturers may make students aware in class or via class website. Exam Policies All exams scores will be announced in Discussion Sessions. Students are not allowed to keep their exams. If you would like to review your exams, please see lecturers during their office hours or make an appointment. Grade Appeals If you are not satisfied with how your exam is graded, you may submit a grade appeal in writing. If you choose to do so, your entire exam will be reviewed. There will not be a partial re-­‐grading, and you may receive a lower grade after the appeal. Grade Assignment Your course grade will be based on your total score out of 100 with some small curve adjustment. Below is a list of the worst possible grade for each score range. Assignment: 15% A 85-­‐100 Quizzes 20% A-­‐ 80-­‐84 Midterm Exam: 30% B+ 75-­‐79 Final Exam: 35% B 70-­‐74 Total 100% B-­‐ 65-­‐69 C+ 60-­‐64 C 50-­‐59 C-­‐ 45-­‐49 D 40-­‐44 For example, if you get 83 out of 100, your worst possible grade is an A-­‐. You may end up with an A for the course after the curve adjustment. Classroom Policies
Students need to comply with AU Dress Code, Time Conflict Examination Regulations, Laws on Smoking Cigarette, and Restrictions on Foods and Drinks V10.1, June 2010. Attendance policies: 2 times of ten-­‐minute late for class is considered as 1 absence. Make–up classes are not allowed. 80% attendance is strictly required regardless of any reason. No checking attendance for other classmates. Violation of the policies will result in being automatically withdrawn from the class. Attendance is checked since the first day of class regardless of any reason. Thus, students’ excuses for absences including adding the subject late, medical reports, being away for work and travel programs, etc. will not be considered under any circumstances. BG 2400/ECO 2202 Microeconomics – 1/2015 (Course Outline) 5 Dress code: Follow AU dress code Improper dress code will result in no attendance checked. Additional Information Any further information will be announced in the classroom. BG 2400/ECO 2202 Microeconomics – 1/2015 (Course Outline) 6 AU Dress Code, Time Conflict examination regulations, Laws on Smoking Cigarette, and Restrictions on Foods and Drinks V10.1, June 2010 AU Dress Code Requirements Following are the University’s dress codes students are obligated to strictly observe upon entering campus, attending classes, and using the University’s facilities on weekdays, except in sport arenas, AU mall and resident halls: P Tuck the rim of their shirts or blouses in their trousers or skirts, P Wear only black, brown, dark blue or gray coloured trousers (for male students), and knee-­‐
length straight skirts (for female students) P Please note that when attending the University’s formal functions i.e. examinations, quizzes, ethic seminar, class presentations, field trips etc., students are required to wear full uniform with the design stipulated in the University’s dress code. Furthermore, the dress codes also proscribe the wearing of the following: O
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below-­‐waist trousers or skirt. tight trousers/blouses, or short skirt. trousers or skirts made from jeans, corduroy or velvet. trousers with the design resemble to jeans (for male students). half-­‐pleated skirt with design similar to straight skirt on the upper part and pleated skirt on the bottom part (for female students). Breaching the aforementioned dress codes will result in students being denied entry or being requested to leave the university’s premises, or being dismissed from classes – in such case, students may lose their class attendance. The rule of debarment will also be applied to the students with less than 80% class attendance. (Lecturers and university officers have been authorized to deny university entry permission to students violating this regulation and to request them to leave university’s premises, as well as to confiscate their student ID card) ¤
Please note that all AU students are obligated to carry the University’s student ID card upon entering the University’s premise, and present it to the University Officers upon being requested. Failing to present their student ID card irrespective of reasons will subject students to a fine of up to 200 baht. Remark: Students whose ID cards are confiscated are required to contact Students Affairs Office (13th floor, CL Building; or 3rd floor, Students Organization Building for the ID card being confiscated at Suvarnabhumi campus or Hua Mak campus respectively), within 5 working days after their ID cards are confiscated to retrieve their ID cards, pay a fine of up to 200 baht, and be informed about other punitive actions, if any. Students who do not retrieve their ID cards within the stated period will be required to apply and pay 200 baht fee for their new students ID card. The process of applying for the new ID cards requires students to obtain a letter from Office of Students Affairs to verify the termination of their ID cards, and subsequently contact the Bank officers for their new ID cards. For future reference, it is advisable for the students to ask for names of lecturers or officers who confiscated their ID cards. BG 2400/ECO 2202 Microeconomics – 1/2015 (Course Outline) 7 "Time Conflict Examination Application Procedure" Period to apply for time conflict examination. AT1. As stipulated in the registration regulations, only graduating students will be allowed to appear for the time conflict examinations without obtaining Dean's approval, provided that their petition is turned in to the Office of Registrar within specified period (refer to AT3), as such, the non-­‐graduating students must ascertain during the pre-­‐registration and adding periods that the subjects they prefer to enroll or add do not have examination time conflict. AT2. Should the non-­‐graduating students wish to enroll or add the subjects with conflicting examination time, advices and approval for the time conflict examination must be obtained from the Dean prior to their registration of the subjects. The Dean concerned may exercise his/her discretion in declining the non-­‐graduating students' request for time conflict examination. The decision of the Dean pertaining to the request is final. AT3. All petitions for the time conflict examination for both graduating and non-­‐graduating students who obtain the Dean's approval must be submitted to Office of Registrar within the first three weeks (15 working days) of the semester/summer session. AT4. The students need to keep the "receipt" issued by the Office of Registrar, and present it to the Office in case that their names are not included in the "time conflict examination list". AT5. Ignorant of the Time Conflict Examination Application Procedures or personal reasons causing students to miss the Time Conflict Examination Application’s dead line are not justifiable reasons for the late submission of the Time Conflict Examination Application. Checking the time conflict examination schedule and venue SV1. The students are also required to contact Office of the Registrar five working days before the first day of the examination period for the time conflict examination schedule as well as the "time conflict examination room". Usually the date of the examination with time conflict would remain unchanged, while the examination time would be rescheduled i.e. one subject would take place before the other -­‐ "back-­‐to-­‐back examinations", and the venue would be the examination room designated only for “Time Conflict Examination". Venue for Time Conflict Examination The students must appear for the examinations, only in the assigned "Time Conflict Examination Room". Should the students sit for the examination of any subject with time conflict examination in regular examination rooms, they will not be allowed to appear for another examination or apply for "late examination", and will hence obtain automatic withdrawal for the subject. Law on smoking cigarette As the Health Ministry stipulates the University as a health protection area where smoking is prohibited, hence smoking cigarette is only allowed in the designated areas. Breaching the law will subject students to a fine of 2,000 baht. Restrictions on Foods and Drinks in the classroom buildings Foods and Drinks are not allowed to be brought into classroom buildings. Should the students violate the regulation, their students’ ID card will be confiscated. Office of Vice President for Academic Affairs BG 2400/ECO 2202 Microeconomics – 1/2015 (Course Outline) 8