INTRODUCTION TO MACROECONOMICS: FALL 2019
Course Information
Course
Section
14
15
ECON 200: Principles of Macroeconomics
Registration #
Days/Time
73255
TTH 12:30-1:45
73408
TTH 2:00-3:15
Location
ZSH 106
ZSH 106
Instructor Information
Instructor
Philip Heap
Office
ZSH 445
Office hours: Tuesday, Wednesday, 3:30-4:30pm, Friday, 11:00-2:00pm
Phone
Office: (540)568-3031
Home:(540)442-8881 (do not call between 9:00pm-6:00am)
E-Mail
heapps@jmu.edu
Web Site
Canvas
Course Description
The objective of this course is to understand the behavior of economic systems at both the national and global
level. Topics include the methodology of economics as a social science, demand and supply, measurement of
important macroeconomic variables, models of growth and global income inequality, inflation, interest rates,
unemployment, business cycles, stabilization policy, and international finance. This course is a COB
prerequisite and satisfies the Global Experience requirement in Cluster Four. These courses help students
become critical thinkers about their own societies and the larger global community. Students will be able to
identify, conceptualize and evaluate: i) basic global problems, ii) global political, social, cultural and economic
systems, iii) the issues involved in analyzing societies different from one's own, iv) the global forces that shape
societies, v) the strengths and limitations of alternative solutions to global problems across and within cultures.
Requirements and Policies
Readings
Pearson Custom: Economics. ECON 200, James Madison University.
I will post links to other reading on Canvas.
Grading
Your grade in the course will depend on 6 in-class quizzes (50 points), the best of two
exams (25 points) and a final exam (25 points). Your grade will follow the standard criteria
of 90-100=A, 80-89=B, 70-79=C, etc. There usually is a curve but only in your favor.
In-Class Quizzes
I will give ten in-classes quizzes, but only six of your quizzes will count towards your grade
in the course. Each quiz is worth 10 points. After taking the quiz, you must decide whether
to hand in the quiz for grading or not. Once you have had six quizzes graded, I will not
grade any more of your quizzes. Note that you this gives you a chance to get 10 bonus
points. Each quiz will contain short-answer questions and/or multiple choice questions, and
may cover material from the previous two lectures and/or assigned reading for that day. I
do not announce quizzes ahead of time. Since you can “drop” four quizzes, there are no
make-up quizzes. I have been known to give quizzes on the first day of class.
Midterm
The exams are tentatively schedule for Tuesday, October 1, and Tuesday, November 5.
The higher of the two scores will count towards your grade in the course.
Final
The final exam is comprehensive and is worth 25% of your course grade.
Section 14: TTH 12:30 class
Thursday, Dec 12, 10:30-12:30
Section 15: TTH 2:00 class
Tuesday, Dec 10. 1:00-3:00
You must take the final when it is scheduled. There are no exceptions.
Classroom
Behavior
1. Get to class on time. I will give you a three minute grace period.
2. Take care of any “business” before class starts. Unless you have an emergency, are about
to explode, are bleeding profusely etc. there should be no reason to leave during class.
3. There is no reason to talk to your neighbor during class. If you did not understand
something I said, ask me.
4. Turn off your cell phone and do not use it during class. If you can’t wait 75 minutes to
check your messages and/or text someone, you need help.
5. Unless you have a medically verifiable disability, I do not allow the use of computers,
notepads, or any technological devices in class.
You are free to violate the rules at your own risk. Doing so will indicate to me that you i)
know the material better than I do, ii) do not care about your learning, and most
importantly, iii) do not care about your peers’ learning. Therefore, I am free to penalize you
for violating the rules up to 5 points per infraction off your course grade at the end of the
semester.
Attendance &
Participation
There is no formal attendance policy for this course, however, attendance is strongly
encouraged. Although participation is not required as part of your grade, it is strongly
encouraged, and may benefit you when I assign final grades. Being physically present but
mentally absent does not constitute participation.
JMU Drop
Policy
Any student who does not attend the first two scheduled meetings of the class may be
administratively dropped from the class. All students are responsible for verifying the
accuracy of their schedules ( http://www.jmu.edu/registrar ).
Add/Drop
Withdrawals
The last day to withdraw from this course is October 24, 2019. Economics department
policy is not to give WP’s or WF’s.
Honor Code
I expect you to abide by the JMU Honor Code in this course. Please familiarize yourself
the Honor Code. I will take appropriate action if I detect any instances of unauthorized
collaboration or assistance. Unless otherwise written in the directions, you must complete
all work on your own. Telling students in another section that there is a quiz that day
and/or the questions on your quiz or exam is a violation of the honor code. Also, since
there is a curve in the class, it can only hurt your grade if you help someone else.
Contact
Information
If you have questions about the course material, please see me during my office hours. If
you cannot make it during those times, make an appointment. You are also free to drop by
my office and I will be glad to help if I have the time. You may call my office or home
(6:00am - 9:00pm). I rarely answer my home phone even when I am home, so please leave
a message including a call-back number. If I am there, I will either pick up or call you back.
I do not own a cell-phone nor do I have internet at home. I will try an respond to any
appropriate e-mails with 24 hours.
Inclement
Weather Policy
I will hold class unless classes are cancelled by the JMU administration for bad weather,
bomb threats, fire alarms, or other unforeseen exigencies. If I am unable to make it to class,
you should receive an e-mail and/or someone will post a note on the classroom door.
Accommodations
See JMU’s website for policies regarding observances for accommodating disabilities and
religious holidays.
Tips for Doing Well In this Course:
For many of you, this will be a difficult course. The material itself is not complicated, but many students take
time getting used to the “economic way of thinking.”
1. As a rough guide, you should spend at least two hours studying for one hour of lecture: 4-5 hrs per week.
Yes, I realize that all professors make the same claim, but at least for this course it is valid.
2. I will give you an outline for each lecture. I would take rough notes during class, and then rewrite/type your
notes before the next class using the outline as your guide. Supplement your class notes with notes from the
reading. Ask me during the next class and/or come seem me if you have gaps in your notes and/or did not
understand some of the material I discussed.
3. I will assume that you have read before you come to class, and add to the material.
4. Make sure you do the non-textbook reading that I assign. At least a quarter of questions on the quizzes and
midterms will come from these readings.
5. Ask questions during class if you do not understand something I say and/or if I cover something too quickly.
Trust me, you will not be the only one who does not understand.
6. Come see me as soon as you get behind/lost/confused.
Course Outline
The following outline is tentative and is subject to change. I will announce reading assignments in
class. I expect you to read before you come to class. You are responsible for all the reading material
whether I cover it in class or not
Topic
Reading in Textbook
Additional reading will be posted on Canvas over the course of the
semester.
Unit
1
Introduction and Basic
Concepts
Ch. 1
Ch 2
2
Basics of International Trade
and Finance
Ch. 2
3
Demand and Supply Analysis
Ch. 3
4
Macroeconomic Measures:
GDP, Unemployment and
Inflation
Weeks
1-4
Week
5
EXAM 1 Tuesday October 5
5
Aggregate Demand and
Supply Analysis
Ch. 6
6
Money, Banks, and the Fed
Ch. 7
7
Monetary and Fiscal Policy
Ch. 8 and 9
8
Tradoff Between
Unemployment & Inflation
Ch. 10
Weeks
6-10
EXAM 2 Tuesday, November 5
Ch. 4
9
Economic Growth and
Development
Ch. 5
Week
11-14
Economics 200
Fall 2019
Principles of Macroeconomics
By signing below, I acknowledge that I have read, understand, and agree to abide by the rules in the
syllabus for this course, and the following statement:
Academic Freedom Statement
You have the right to engage in reasoned disagreement with me without any penalty to your
grade. I have the right to challenge any belief, ideology, worldview, or attitude you have,
including those beliefs you hold sacred. Students likewise have this right against each other and
me. Everyone has the right to express his or her views without fear of bullying or reprisal. The
classroom and the university is a forum for the pursuit of truth.
I intend for this class to aid in the pursuit of responsible ideology. Responsible ideology means
putting in the hard work to be justified in one’s economic views. It requires a synthesis of
humanistic and social scientific methods. It requires that one understand and, in a sense, can “get
inside the head” of views entirely foreign to one’s own. Finally, it requires that one
experience and overcome, rather than flee from, serious intellectual discomfort.1
Student Name Printed: _______________________________________________
Student Signature: __________________________________Date: ____________
Print and sign your name, and bring this sheet with you on the first day of class.
1
Adopted from Jason Brennan, Georgetown University.