Economics 101: Principles of Economics
Fall 2009
Instructor: Phacharaphot Nuntramas (Phot)
Office: 332 Nasatir Hall
Email: pnuntram@mail.sdsu.edu
Phone: (619) 594-2407
Office Hours:
Monday 3 pm – 5 pm
Thursday 10 am – 12 pm
Online: Wednesday 10 pm – 11 pm
Course Description:
This course introduces you to principles of macroeconomics. We will discuss a wide
range of macroeconomic outcomes such as economic growth, inflation, unemployment,
and international trade and capital flows between nations. We begin by training how to
think like an economist, and familiarizing ourselves with some essential concepts and
data. We then examine various macroeconomic theories to gain better understanding
of the forces that produce different outcomes. Along the way, we will study the roles
of fiscal and monetary policies.
Learning Outcomes:
Broadly, the objective is to be able to use macroeconomic models to explain current
events to economists and non-economists. Specifically, you should be able to
• identify important macroeconomic variables
• calculate and interpret key macroeconomic aggregates such as GDP, the
unemployment rate, the inflation rate, exchange rates
• explain the relationship between saving and investment in a closed economy and
how it changes in an open economy
• explain how an interest rate is determined, and how it affects financial decisions
• identify the sources of economic prosperity
• distinguish fiscal policies from monetary policies
• explain why we need to consider a closed economy and an open economy
Class Websites:
Blackboard: For online office hours (Wimba Voice Direct), and grades.
Aplia: Subscription is required. For homework, announcement, materials, and grades.
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Prerequisites:
Entry-Level math.
Required Materials:
• Book: Mankiw, N. Gregory “Principles of Macroeconomics” Fifth Edition, SouthWestern Cengage Learning, 2009.
• Aplia Subscription to Aplia is required to complete and submit homework
** You have two purchasing options: Digital textbook with Aplia access, or Physical
textbook with Aplia access. Please read the “Student Registration and Payment
Instructions” page of this syllabus carefully.
While the textbook provides us a thorough treatment of macroeconomic theories, it is
most useful to apply those theories to try to understand what is going on in real life.
You should read newspapers, blogs, etc. to follow current events. Examples are
• The Wall Street Journal
• The Economist magazine
• The Federal Reserve Board monetary policy report to the congress.
• Mankiw’s blog
Course Requirements and Grading:
There are 4 parts: Aplia Homework, Attendance, Midterm Exams, and Final Exam.
1. Aplia Homework
20%
The purpose of the homework is for you to check your understanding of the
material, and to prepare for exams. Please observe the deadline: complete your
assignments early to keep last minute emergencies from getting in your way. Late
assignments will not be accepted and will receive a grade of zero.
Grading guideline: 86-100=20, 76-85=17, 66-75=14, 56-65=10.
2. Attendance
5%
Attendance is taken each class. However, your name will be called only if the last
digit of your Red ID matches the second decimal of where the Dow Jones Industrial
Average (DJIA) closes the business day before class.
Grading guideline: – 2 for each attendance missed.
3. Midterm exams (3*15%) 45%
Both multiple-choice and short-answer questions will be on the exams. Midterm
exams are administered during class time. These exams are not cumulative.
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4. Final exam
30%
Both multiple-choice and short-answer questions will be on the exam. The final
exam is cumulative.
Policy:
• You MUST take all exams. All exams must be taken on the dates specified in this
syllabus. There will be NO make-up exams. If you cannot take one of the
exams, you will have to enroll in other classes.
• You must have a simple calculator. Cell phones, PDAs, and scientific, financial,
or programmable calculators will NOT be allowed in exams.
• You can bring 1 page of note (one side of an 8.5”*11’’ paper) to the midterm
exams.
• You can bring 2 pages of note (both sides of an 8.5”*11’’ paper) to the final exam.
• Please be considerate in the classroom. Turn off your phones, arrive and leave
on time, minimize chatting, etc.
• Contact Aplia support directly (from website or support@aplia.com) if you need
helps with using Aplia.
Academic dishonesty:
While you are encouraged to study together, I expect you to complete homework
assignments by yourself. Cheating will not be tolerated; every incidence will be
reported to the university. Be aware that looking at other students’ notes during an
exam is also considered cheating. For more information on SDSU’s student
disciplinary procedures, see the Center for Student Rights and Responsibilities website.
Accommodating Disabilities:
Students who need accommodation of their disabilities should contact me privately to
discuss specific accommodations for which they have received authorization. If you
have a disability, but have not contacted Student Disability Services at (619) 594-6473
(Calpulli Center, Suite 3101), please do so before making an appointment to see me.
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Schedule:
Except for the dates of the exams, this schedule is tentative.
Reading
Topic
Date
Ch 1
Ch 2
Ch 3
Ch 4
Ch 10
Ch 11
Ten principles of economics
Thinking like an economist
Gains from trade
The market forces of supply and demand
Measuring a nation’s income
Measuring the cost of living
Sep 2
Sep 4
Sep 9, 11
Sep 14, 16
Sep 18, 21, 23
Sep 23, 25, 28
In-class exam I
Ch 12
Ch 13
Ch 14
Ch 15
Production and growth
Saving, investment, and the financial system
The basic tools of finance
Unemployment
In-class exam II
Ch 16
Ch 17
Ch 18
Ch 19
The monetary system
Money growth and inflation
Basic open economy macroeconomics
Open economy macroeconomic theory
In-class exam III
Ch 20
Ch 21
Aggregate demand and aggregate supply
Monetary and fiscal policy
Final Exam
Sep 30
Oct 2, 5, 7
Oct 9, 12, 14
Oct 16, 19, 21
Oct 23, 26
Oct 28
Oct 30, Nov 2, 4
Nov 6, 9
Nov 13, 16
Nov 18, 20
Nov 23
Nov 30, Dec 2, 4
Dec 7, 9, 11
Dec 16
Note: Due to furlough agreement, the class on Wednesday, Nov 25 is cancelled. My
other furlough days are on Tuesday: Sep 15, Oct 13, and Oct 20.
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