Macroeconomic Theory A - the School of Economics and Finance

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THE UNIVERSITY OF HONG KONG

FACULTY OF BUSINESS AND ECONOMICS

Course Template for the Learning Outcomes System

School of Economics and Finance

ECON2220 Macroeconomic Theory

This course template applies to: 4-Year intake only

GENERAL INFORMATION

ECON2220A and ECON2220C

Instructor: Dr. Y. Luo

Email: [email protected]

Office: KKL916 K K Leung Building

Phone: 2589 1042

Consultation times: Thursday 4:30-6:30pm

Lecture: ECON2220A: Semester 1, Thursday 13:30 – 16:20 in MB167

ECON2220C: Semester 2, Tuesday 12:30 – 13:20 in KB419, Friday 12:30 – 14:20 in KB419

ECON2220B

Instructor: Dr. H. Chen

Email: [email protected]

Office: KKL915 K K Leung Building

Phone: 2589 8506

Consultation times: TBA

Semester: 2

Lecture: Wednesday 9:30 – 12:20 in MWT7

Tutor: TBA

Pre-requisites: ECON1210 Introduction to Economics I, ECON1220 Introduction to Economics II

Mutually exclusive: ECON2221 Macroeconomic Analysis

Course Website: http://www.sef.hku.hk/~yluo/teaching/econ2220/econ2220_2013.htm

COURSE DESCRIPTION

Theories of income, employment, and the price level; analysis of secular growth and business fluctuations; introduction to monetary and fiscal policy.

COURSE OBJECTIVES

1. To provide a simple yet rigorous framework to understand real world macroeconomic events.

2. To avoid the fallacies and mistakes often made in the popular press and by your favorite investment gurus on the causes and consequences of long-run growth and short-run fluctuations

3. To prepare students for more advanced studies in macroeconomics.

COURSE LEARNING OUTCOMES

Course Learning Outcomes

CLO1 Be able to interpret real world macroeconomic events intelligently.

CLO2 Be ready for more advanced studies in macroeconomics.

CLO3 Be able to distinguish good and bad explanations for particular macroeconomic developments.

Aligned Programme

Learning Outcomes

PLO 1,2,3,4

PLO 1,2

PLO 1,2,3

PLO 1,2,3,4

CLO4 Be able to understand and articulate the effects of important macroeconomic policy changes.

COURSE TEACHING AND LEARNING ACTIVITIES

Course Teaching and Learning Activities

Expected contact hour

T&L1. Lecture

T&L2. Tutorial

T&L3. Homework

39

11

15

70

T&L4. Readings and Revision

Total

135

Assessment Methods

A1. Homework

A2. Midterm test

A3. Final exam

STANDARDS FOR ASSESSMENT

Course Grade Descriptors

Brief Description (Optional)

Total

Weight

15%

30%

55%

100%

Study Load

(% of study)

28.9

8.1

11.1

51.9

100%

Aligned Course

Learning Outcomes

CLO 1,2,3,4

CLO 1,2,3,4

CLO 1,2,3,4

A+, A, A-

Strong evidence of superb ability to fulfill the intended learning outcomes of the course at all levels of learning: describe, apply, evaluate, and synthesis.

B+, B, B-

Strong evidence of the ability to fulfill the intended learning outcomes of the course at all levels of learning: describe, apply, evaluate, and synthesis.

C+, C, C-

Evidence of adequate ability to fulfill the intended learning outcomes of the course at low levels of learning such as describe and apply but not at high levels of learning such as evaluate and synthesis

D+, D

Evidence of basic familiarity with the subject.

F

Little evidence of basic familiarity with the subject.

Assessment Rubrics for Each Assessment

(Please provide us the details in a separate file if the space here is not enough)

COURSE CONTENT AND TENTATIVE TEACHING SCHEDULE

1. Introduction and national income accounting

(a) Production function, labor market equilibrium and full-employment output

(b) Consumption, saving, investment

1 week

2. Basic ingredients of macroeconomic theory: 2½ week

(c) Open economy

3. Long-run economic growth 2 week

4. The asset market, money and prices

5. Business cycles 3½ week

(a) Business cycle facts

(b) The IS-LM/AD-AS model

(c) Classical business cycle theory

(d) Keynesian business cycle theory

6. Macroeconomic Policy 2 week

(a) Inflation-unemployment tradeoff

(b) Monetary policy

(c) Fiscal policy

7. Exchange rates and international linkages 1 week

8. Advanced topic: The intertemporal approach 1 week

MEANS/PROCESSES FOR STUDENT FEEDBACK ON COURSE

o conducting mid-term survey in additional to SETL around the end of the semester o

Online response via Moodle site o

Others: ________________________ (please specify)

COURSE POLICY

(e.g. plagiarism, academic honesty, attendance, etc.)

The University Regulations on academic dishonesty - behaviors in which a deliberately fraudulent misrepresentation is employed in an attempt to gain undeserved intellectual credit, either for oneself or for another will be strictly enforced. The Board of Examiners may impose a penalty in relation to the seriousness of the offence and may report the candidate to the Senate, where there is prima facie evidence of an intention to deceive and where sanctions beyond those imposed by the BoE might be invoked.

Classroom etiquette

1. Please switch your cell phone to silent mode if you need to keep it on at all.

2. If you need to answer a call during class, quietly walk out of the classroom before you do so. When you finish, please leave and do not come back in again.

3. If you are late for more than 10 minutes, please do not bother to show up. Your entry in the middle of the class is a nuisance to everybody.

4. Unless for emergency, please do not leave the classroom before the class is over. Your doing so constitutes outright disrespect for the instructor.

5. Please do not come to the classroom to mainly surf the net during class.

ADDITIONAL COURSE INFORMATION

(e.g. e-learning platforms & materials, penalty for late assignments, etc.)

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