ECONOMICS 201-70
INTRODUCTION TO MACROECONOMICS
Fall 2012
MW 9:30-10:50 am. LEV AUD (also called Coon Forum)
Robert J. Gordon, AAH 350
491-3616; rjg@northwestern.edu
web site: google ARobert J. Gordon@
Office Hours, T 4-5:30 pm or by e-m appointment
Teaching Assistants:
Samir Mamadehussene, Samirslb@u.northwestern.edu
Thiago Teixeira Ferreira, Thiagoteixeira2013@u.northwestern.edu
Amy Wagner, AmyWagner2011@u.northwestern .edu
Note: TA office hours will be announced by e-mail and will be posted on Blackboard.
1. The Course: Its Purpose and Prerequisites. Economics 201 is the basic introduction
to economics that must be taken by every prospective economics major. Economics 201 is
also taken by many other students as a distribution requirement, as a requirement in some
other fields and schools, and just because it is an interesting course about the real world out
there. Please note: there are no prerequisites for Economics 201.
2. Required Reading. Textbook, homework problems, and course packet. See
subsequent pages of this syllabus for details. See detailed textbook purchase instructions
on page 5 of this syllabus.
3. Advice. If you don't understand a particular point in the lecture, raise your hand
and ask it on the spot. Or come up and ask after class. For detailed questions about the
text, electronic homework, or other textbook-related issues, talk to your TA in the section
meeting or you can go to the office hours of any TA (their office hours will be posted soon).
You will also find that many of your questions only take a minute or two to answer, and for
these you should come up after class rather than making a special trip to office hours. You
can also reach the TAs or me by e-mail (addresses listed above). The TAs and I both pledge
that any e-mail question will be answered within 24 hours, seven days a week.
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4. Web Site. This course relies heavily on the web and you need to bookmark three
web sites.
(a) My web site (google ARobert J. Gordon@) has several sections, one of
which involves teaching. The teaching section of the web site provides past midterm and
final exams, including answers. Don=t miss my photo gallery containing 325 photos of
economists taken over the past 40 years. You can look through the photos to find many
economists who are cited in the textbook, including its co-author Paul Krugman.
(b) Blackboard. This course uses Blackboard extensively, providing lecture
slides, grade distributions, and other material relevant to the TA sections. Powerpoints
from lectures are posted on Blackboard roughly one day after the lecture presentation.
Note that answers to end-of-chapter problems in the textbook will be posted on
Blackboard.
(c) EconPortal (AEP@). This course uses the electronic e-book version of the
Krugman-Wells text and provides you with a lot of open-book electronic assignments that
will improve your ability to take closed-book quizzes, midterms, and finals. To provide an
incentive for you to use the EP assignments, 10 percent of your grade will depend on your
score on EP graded assignments. The details are provided down below in this syllabus and
will be discussed in lecture as well.
5. Purpose of lectures and TA sections. The lectures will provide real-world examples
to motivate the textbook material, will help you figure out what is important and what you
can skip, will relate items in the outside reading course packet to the textbook theory and
to current events, and will present and solve questions and problems. Please note that
there are sections of the course packet which cover material which is not in the textbook at
all (on wage determination and career choice); this material will be explained in the lecture,
with illustrations from the course packet. This is an election year and frequent reference
will be made to the Presidential election campaign, especially the debates. TA sections
will administer quizzes and discuss answers, provide sample test questions prior to the
midterm and final, and present additional explanations of topics for which there is
insufficient time in lectures.
6. Academic Mentoring Program. The Academic Mentoring Program (AMP) offers
peer-led academic support in a small-group setting for students enrolled in this course.
If you join the program, you will meet weekly with about 5–8 other students and a peer
mentor – a student who has already taken and done well in the course. During group
sessions, students raise questions they have about the course content and work to
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develop answers together, with the guidance of the mentor. Past participants report
that AMP helped them stay on track with their studying and solidify their
understanding of course concepts. AMP is not a drop-in program; students register for
the full quarter. Times and locations vary. You may register for AMP
at http://www.surveymonkey.com/s/academic_mentoring through Wednesday,
October 3rd by 12:00 p.m. *Space is limited*
7. Requirements.
a. EconPortalyEconLab (EP) homework assignments, 10 percent of your grade.
Your scores are cumulated automatically within the EP software system. Students who
skip doing the EP assignments will lose in two ways. They will lose directly 10 percent of
their grade, and they will find that they are less prepared for closed-book quizzes,
midterms, and finals than their fellow students who diligently use the resources that EP
provides. The purpose of the electronic homework is to make you very comfortable with
the types of questions that are asked in economics exams but with your book open and
without the time pressure of closed-book exams. Please note: your three lowest homework
assignment scores will be automatically dropped (out of a total of 15 homework assignments,
one for each assigned chapter), so don’t worry if you forget an assignment or can’t meet the
time deadline.
b. Short Quizzes (5). In TA sections on the dates indicated on the schedule.
Counts 20 percent of grade.
c. Midterms (2). Monday, 22 October, and Monday, 12 November. Each
counts 17 percent of grade, total 34 percent. MIDTERM EXAMS
ARE HELD IN THE REGULAR LECTURE ROOM.
c. Final. Thursday, 13 December, 3-5 pm. Counts 36 percent of grade. THE
FINAL EXAM IS HELD IN THE REGULAR LECTURE ROOM.
IMPORTANT NOTES: A pocket calculator must be brought to each quiz, midterm and to
the final exam. LAPTOPS AND ALL OTHER ELECTRONIC DEVICES MUST BE CLOSED
AND HIDDEN IN LECTURES AND EXAMS. In a new departmental policy laptops and
ipads cannot be visible during lectures. We have found that web-surfing, texting, and
game-playing by students in lectures harms their ability to learn the material and is
distracting to students around them. Take your notes on paper and buy a lined notepad
for this purpose. TURN OFF YOUR CELL PHONES AND SMART PHONES as you would
at any movie, theater performance, or concert.
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TA SECTION TIMES AND LOCATIONS
TA sections are required for one hour per week. You have already signed up for
a section in CAESAR. If you registered on CAESAR for section 77, this has been
combined with section 75 at the location listed below. The same goes for section 78,
which has been combined with section 76.
71
72
73
74
75
76
Teixeira Ferreira
Teixeira Ferreira
Wagner
Wagner
Mamadehussene
Mamadehussene
Friday 11-11:50a
Friday 3-3:50p
Friday 11-11:50a
Friday 3-3:50p
Friday 11-11:50a
Friday 3-3:50p
CLRK B01
UNV 102
ANN G15
KRG 4365
HRS L07
UNV 121
SCHEDULE OF TA SECTIONS
05 Oct
12 Oct
19 Oct
26 Oct
02 Nov
09 Nov
16 Nov
23 Nov
30 Nov
07 Dec
Teach graphs (Appendix to Chapter 2)
Practice questions; Quiz 1
Practice questions; Quiz 2
Return quiz and midterm; Discuss answers
Practice questions; Quiz 3
Practice questions; Quiz 4
Return midterm; Discuss answers
NO TA SECTIONS
Practice questions; Quiz 5
Review sessions, times and places to be announced.
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REQUIRED READING AND INSTRUCTIONS
Text:
Paul Krugman and Robin Wells, Macroeconomics, 3rd Edition. Worth
Publishers, 2013
SEE DETAILED PURCHASE INSTRUCTIONS ON PAGE 7 OF THIS SYLLABUS.
Required Additional Reading:
Course Packet for Gordon Econ 201, available from the
Econ Department Office, AAH 302. The price is $11,
cash or check but not credit cards.
Handouts
There will be four handouts available only in lecture that will be the source of several
problems on the quizzes, midterms and final. Don’t be concerned if you miss a class,
because I’ll bring each handout to at least the next two classes after the date on which it
is discussed. PLEASE NOTE THAT THESE HANDOUTS ARE NOT AVAILABLE
ON BLACKBOARD; YOU MUST COME TO CLASS TO PICK THEM UP.
IMPORTANT NOTE:
Typically each lecture will cover one chapter. 15 chapters are assigned and there are 16
lectures. Some of the lecture time will be spent discussing the course packet readings
and other issues that are not covered in the textbook.
Please note that each textbook chapter includes one or more set-off boxes called
ECONOMICS IN ACTION. THESE PAGES ARE NOT REQUIRED IN THE COURSE
AND NO TEST QUESTIONS WILL BE ASKED ABOUT THEM. For an example, see p.
81 in Chapter 3.
The course packet readings are tested only in the midterms and finals, not in the
quizzes. They are tested only with multiple-choice questions. No questions are asked
about specific numbers or facts in the course packet readings, but rather about the main
issues they address. The lectures provide a brief synopsis of the main issues in each
course packet reading. The lectures point you to the main things you need to learn
from the course packets, and the lecture comments on the readings are not included in
the Powerpoint slides. You have to come to lecture to hear them.
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In addition, some of the course packet readings are there only because they may be
interesting to you and will not be tested, especially the readings on experiences of
college freshmen, and on the pros and cons of different careers.
THE FOLLOWING CHAPTERS IN THE K-W TEXT ARE NOT ASSIGNED: 5
(except the appendix to 5 is required), 16, 18, 19. THE ASSIGNED CHAPTERS ARE
1-4, 6-15, and 17.
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Accessing & Registering for EconPortal
www.youreconportal.com
You are required to purchase access to EconPortal for this course. EconPortal for your textbook,
Krugman/Wells’ Macroeconomics, Third Edition, is an on-line learning environment that integrates an
interactive e-Book, activities, communication tools, an assignment center, and grading system. The
details below provide you with the options of buying only the e-Book and EP access for approximately
$74, or buying the full package including e-Book, EP access, and a print book (not bound – three-hole
punched format) for $105.
Online access (ebook included, no print book, approx. $74):
If you are planning to purchase access to the ebook and EconPortal only online, please follow the
instructions below:
1. Point your browser to www.yourEconPortal.com.
2. Click on the “Students” and choose “Get Started” in the drop down menu.
3. Scroll down until you find your textbook, Krugman/Wells’ Macroeconomics, Third Edition. *It is very
important that you choose the correct book.*
4. Click the “Purchase” link next to your textbook’s title.
5. You will be prompted to follow the on-screen instructions to find your course. You will start by
selecting state (IL), the school name (Northwestern), then your instructor (Gordon), course, and/or
section.
6. You will be asked to enter your name, email address, and choose a password. Please note that you
must use your school email address during the registration process.
For a paper text together with the ebook and Online access (approx. $105):
You can purchase a package containing the Krugman text and the EconPortal Access Card from
the Northwestern Norris Bookstore. You will get the best deal by buying the package at the
bookstore as opposed to purchasing the two components separately! Once you have purchased
your package, follow the instructions below to activate your Portal access. Your print book
purchase will come with an access card giving you the activation code (see #4 below):
1. Go to www.yourEconPortal.com.
2. Click on the "Find Your Portal" button. Locate your Portal by clicking on your textbook author
(Krugman/Wells Macroeconomics, 3e) then clicking on the image of your book. This takes you to the home
screen for your Portal.
3. Click on "Students: Register an Activation Code." This takes you to a registration screen.
4. Enter your activation code (INCLUDING the dashes). You will need this activation code only once.
5. Enter your personal information. Please use your school email address to ensure that you get credit
for your work.
6. Follow the steps on the screen to join your instructor’s course. Your graded assignments will only be
found in your instructor’s course.
7. Click “Next.”
8. You’ll be taken to a confirmation page. Check your information for accuracy and select “Create an
Account” to complete your registration.
9. You now have access to EconPortal.com! We recommend you bookmark the site for easy access on
future visits.
If you have trouble during the registration process, please call 1-800-936-6899 or email tech support at
techsupport@bfwpub.com.
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ECONOMICS 201
LIST OF TOPICS AND ASSIGNMENTS
Date
Text
Chapter
Topics
Appendix
Required?
---
Course
Packet
M 01 Oct
W 03 Oct
Administrative Details; What is Economics
How Economies Work; Economy-wide interactions
--1
M 08 Oct
W 10 Oct
Economic Models: Trade-offs and Trade
Note: Graphing will be taught in TA section (Friday 05 Oct)
Supply and Demand
2
2-apx
3
-2-apx-yes
--
2
M 15 Oct
W 17 Oct
Prices and Quotas: Meddling with Markets
Consumer and Producer Surplus; Wage Determination
4
-5-apx-yes
3
4
M 22 Oct
W 24 Oct
FIRST MIDTERM (covers text through Ch 4, plus Apx to Ch 5, plus Readings through Chap 4)
Intro to Macro; GDP (skip pp. 202-206)
6,7
--
A,6
M 29 Oct
W 31 Oct
Unemployment and Inflation
Long-Run Economic Growth
8
9
7,8
9
M 05 Nov
W 07 Nov
Savings, Investment Spending, and the Financial System
Income and Expenditure
10
11
--10-apx-no
11-apx-yes
M 12 Nov SECOND MIDTERM (covers text Ch 6-10, no appendices, plus Readings through Chap 10)
M 14 Nov Aggregate Demand and Aggregate Supply
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M 19 Nov
W 21 Nov
Fiscal Policy
Money, Banking, and the Federal Reserve System
M 26 Nov Monetary Policy
W 28 Nov Crises and Consequences
Th 13 Dec FINAL EXAMINATION (3-5 pm)
8
--
--1
10
11
12
13
14
13-apx-yes
--
13
14
15
17
15-apx-yes
--
15
17
Economics 201
Frequently Asked Questions
Q:
A:
Are there any prerequisites?
No.
Q:
A:
Do I need to be skilled in math?
The only math used in Economics 201 is a bit of junior high school algebra in two or three
of the lectures, and this material will be tested in quizzes, the midterms, and the final.
Most of the algebra is provided by the textbook in chapter appendices, and the rest will be
distributed to you via paper handouts, and you must come to class to receive these. You
need to be comfortable with math to become an economics major, but in Economics 201
you don't have to face that decision yet since we just use junior high school algebra, no
calculus at all.
Q:
A:
Can I show up for any section I want regardless of what I've signed up for?
No, you must come to the section you've signed up for, except for sickness. Your TA is
responsible for you and your grade. If you are sick and miss an 11am Friday section, you
can go to the 3pm Friday section of your own TA.
Q:
A:
Any tips on which section to sign up for?
Most important, if you anticipate trips for some athletic or other activity on Friday
afternoons, sign up for the 11am section.
Q:
A:
Important dates?
P/N Deadline, Friday, October 12
Drop Deadline, Friday, November 2 (you'll know your first midterm grade by then).
Q:
A:
Can I add now?
Yes. Anyone can add, no prerequisites, no space shortage.
Q:
A:
Q:
A:
Is the electronic homework required?
Yes, completion of the electronic homework (EconPortaly or EP) counts for 10 percent of your
grade. You need to look up the EP schedule and record the deadline times and dates in
your own calendar. To allow for students to miss or forget several homework deadlines,
your three lowest grades will be automatically dropped.
What’s the point of the electronic homework?
Quizzes and exams in econ courses are always closed book with a time constraint. The
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electronic homework is open book, and you can take as long as you need to complete it. The
homework also gives you a chance to do problems again if you miss them on the first try. Thus
the homework provides an ideal opportunity to learn the basic concepts of the course without
any time pressure in a guided and helpful environment.
Q:
A:
What happens if I miss a quiz?
If illness or an extracurricular activity forces you to miss a quiz, your grades on the other
quizzes will be averaged and applied to your missing grade. However, only one quiz can
be missed and given credit in this way. You will receive zero credit for any other missed
quiz. There are no make-ups for quizzes. To be fair to people who take all five quizzes,
their lowest grade of the five will be dropped (Hint: this is an incentive to take all five
quizzes).
Q:
A:
What's the point of the quizzes?
Two: first, to give you an incentive to keep up with the reading, and second, to give you
practice on exactly the same kinds of questions that will be asked on the midterms and
final. Quizzes will cover any material covered in lecture up to the Monday lecture of the
same week in which the quiz is held on Friday. More specific guidance about the types of
questions that will be on the quiz will be given in lecture each Monday.
Q:
A:
Should I work out all the text's End-of-Chapter questions and problems?
Absolutely. Answers are provided on Blackboard.
Q:
A:
What happens if I miss either midterm?
The midterms are administered on Monday during the normal class time 9:30-10:50 am. If
you are not free at 9:30 am those days, then you should not be taking this course.
Q:
A:
Will there be essay questions on the tests or is it all objective?
No essay questions on the midterms or final. But, beware. While many of the questions
will come from the textbook's test bank, others will not and will be based on the course
packet readings and the lectures' linkages between the outside readings, recent events in
the "real world," and textbook material.
Q:
A:
Where do I find past midterms and final exams?
On my web site.
Q:
A:
What happens if I fall suddenly ill and cannot take one or both midterms?
You must send me an e-mail prior to the time of the midterm. You will get an automatic F
on the midterm if you don't show up and haven't notified me in advance. There are no
makeups for midterms. If you miss a midterm because of illness, have notified us
beforehand, and have a doctor=s excuse, your grade will be Aprorated@ so that the missed
midterm does not count.
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Q:
A:
What happens if I miss the final?
You get an incomplete in the course. There are no alternative arrangements made to take
the final at any time other than that listed in the official registrar's schedule.
Q:
A:
Do I need to come to lectures? Can't I just read the textbook and do the exercises?
First, substantial material in this course is not contained in the textbook. Also, there are
several algebraic handouts that teach material not in the textbook or in the EP
assignments, and these then are tested in quizzes, midterms, and the final. The lectures
teach you how to solve problems based on the in-class handouts. Beyond that, the
lectures will make it easier to read the textbook and get good grades on the quizzes and
tests. The lectures will emphasize some points in the textbook and tell you which points
and examples to skip. There will be much discussion in the lectures to link together and
integrate issues raised in the course packet readings with the framework of the text.
Finally, the lectures contain many hints about the nature of questions to be asked on the
quizzes, and students who attend the lectures and pick up these hints will do better than
students who do not. While the Powerpoint lecture slides are posted on the web a day or
two after the lecture, much of the lecture material is presented on the chalkboard and this
is not available to you if you do not come to class. Also, none of the discussion of the
course packet readings is included in the Powerpoint slides, nor are hints about the
content of future quizzes posted on Powerpoint slides.
Q:
A:
How do I get a good grade?
Recipe:
(1)
Skim the textbook assignment before the lecture. The EP assignments are
set up so that you read each textbook chapter by the day before the
lecture on that set of topics.
(2)
Read the text carefully and do the questions and problems before the
quizzes given in TA section.
(3)
Do the EP assignments by the 11pm deadline for each chapter, Tuesday
11pm for the Monday lecture topics and Sunday 11pm for the Wednesday
lecture topics.
(4)
Read the assigned items in the outside readings before the lecture where
they will be discussed.
(5)
Come to lecture, since the lectures will highlight the most important
things to learn from the text, develop the graphs in a way that makes
them much easier to understand than just reading the text, and will
provide numerous hints as to the type of questions to be asked on the
quizzes.
Q:
I've done the reading and thought about the material but I am still so confused that I
don't even know what to ask. Should I feel embarrassed about coming to office hours for
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A:
Q:
A:
help?
Not at all. If you have done the reading, office hours are an excellent time to clear up big
or small questions. But don't come until you've done the assigned reading and the EP
assignment problems on the topic you plan to ask about. The TA office hours are spread
out during the week, and if you have a conflict, you can go to another TA's office hours if
you can't go to see your own TA.
What about e-mail?
If you've got a question that can be answered briefly, e-mail to your TA first, and if
his/her answer isn't clear, e-mail to me. TAs handle questions about the textbook and
electronic homework, while I handle by e-mail any questions about the lectures or the
course packet readings. All of us pledge to answer every message within 24 hours,
seven days per week. If your question is that you just don't understand what you're
reading, then you'll need to come to office hours. Start with the TA and if not satisfied,
then come to my office hours on Tuesday, 4-5:30pm. Be sure to complete all the EP
assignment problems before coming to TA office hours, and if you don=t understand an
answer to one of the EPL problems, bring it with you to discuss with the TA.
Finally, remember that many questions of clarification can be asked by raising your hand
in lectures and/or by coming up to talk to me after lectures. I never leave the lecture
room until every student has departed.
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