This version: Jan 7,2013
Economics 2002.01: Principles of Macroeconomics
Spring
Spring,, 201
20133
day
Monday, Wednesday and Fri
Friday
day:: 5:20- 6:15PM
6:15PM,, Ramseyer Hall 0100
Instructor: Xiaoyi Han
Office: 304 Arps Hall
Email: han.293@buckeyemail.osu.edu (The best way to contact me)
Office Hours: Wednesday 3:00 pm- 5:00 pm and by appointment.
This course serves as an introduction to macroeconomics, a branch of economics that studies
how the economy as a whole works. The objective of the course is to prepare you with some
basic concepts/principles of macroeconomics. From this course, you will understand how to use
the tools to analyze real-world situations. This course covers topics on the data of macroeconomics, the economy in the short run and in the long run, and macroeconomic policies .
GEC Statement for Social Sciences
The goal of social science is develop students’ understanding of the systematic study of human
behavior and cognition; the structure of human societies, cultures, and institutions; and the
processes by which individuals, groups, and societies interact, communicate, and use human,
natural, and economic resources.
Specifically, Economics 2002.01 addresses Human, Natural, and Economic Resources. The
Expected Learning Outcomes of this area are:
1. Students understand the theories and methods of social scientific inquiry as they apply to the
study of the use and distribution of human, natural, and economic resources and decisions and
policies concerning such resources.
2. Students understand the political, economic, and social trade-offs reflected in individual
decisions and societal policymaking and enforcement and their similarities and differences
across contexts.
3. Students comprehend and assess the physical, social, economic, and political sustainability of
individual and societal decisions with respect to resource use.
Required Text
Text::
1. Required: Principles of Macroeconomics, N. Gregory Mankiw, 6th edition* South-Western
Cengage.
2. Optional (may be useful): Study Guide for Mankiw's Principles of Macroeconomics, N.
Gregory Mankiw, 6th edition*, South-Western Cengage.
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*If you have an older version of the book, it will be your responsibility to compare the chapters
and study accordingly.
Class Website:
http://www.carmen.osu.edu.
All lecture notes, review questions and grades will be posted on Carmen.
Please check the class website regularly.
Grades:
Your final grade for this course will be calculated as follows:
Jan 16th, Feb 11th, Mar 8th, Apr 3rd and Apr 17th)
15% In-class quizzes (Jan
Feb 1st , Chapters 1, 2, 3 and 4, closed book)
20% Midterm 1 (Feb
Feb 25th : Chapters 10, 11 and 13
20% Midterm 2 (Feb
13,, closed book)
20% Midterm 3 ( March 22nd , Chapters 15 16 and 17, closed book)
25% Final Exam ( Apr 24th , 6:00pm-7:45pm
6:00pm-7:45pm:: non-comprehensive, Chapter
Chapterss 17
17,, 20 and 21,
closed book)
2.4% Bonus point (8 attendances, each earn 0.3% point)
There will be five in-class quizzes, which will be administered at the end of each lecture. Each
quiz consists of nine or ten multiple choice questions and one bonus point, covering the material
until that lecture. The lowest quiz grade will be dropped. There will be no make-up quizzes. If
you miss a quiz with valid documented reason, your average point obtained from the remaining
quizzes will be assigned.
The three midterms and the final will be each based on 25 multiple choice questions. There will
be 5 bonus questions, which means you get 100 points as long as you answer 20 questions
correctly. The maximum point of each exam is 100.
There will be no make-up midterm. If you miss the midterm, with a valid documented reason,
the points obtained on the final will be counted. The final will be non-comprehensive
non-comprehensive.. No early
finals are allowed. Travel plans are not considered emergency
emergency. It is your obligation to plan
your schedule in advance of exams.
Starting with the fourth week, attendance will be recorded toward the end of semester 8 times
randomly
randomly.. Each recorded attendance (up to eight) will earn 0.3% for a total of 2.4%.
Grading Policy
Approximately top 25% of the class will get A or A-, and the next 35% will get B+, B or B-. The
remaining of the class receiving a total score of 50 or more will be divided accordingly among
C+, C, and C-. The minimum passing grade D for this class is 40% of the total points (40 points).
Economics Learning Center
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The Department of Economics runs the Economics Learning Center, where advanced
undergraduates provide free tutoring for students in Economics 200, 201, 501, and 502.
Assistance with other classes is frequently available. The Economics Learning Center is located
in 311 Arps Hall (1945 North High Street) and is typically open from 9AM-5PM Monday-Friday
starting the second (full) week of the quarter. Note that the purpose of the tutoring center is not
to provide answers to assignments, but to help students learn economics. As the student, you are
ultimately responsible for all course work you submit.
Class Schedule: (Tentative)
1. Week of January 7th, January 9th and January 11th
Syllabus handout
Chapter 1: Ten Principle of Economics (the first four)
Chapter 2: Thinking like an Economist
The role of assumptions. Positive versus normative statements.
Economics models (Circular flow diagram+Production possibility frontier )
2. Week of January 14th, January 16th (Quiz 1) and January 18th
Chapter 2 Microeconomics, Macroeconomics and Econometrics
Chapter 4: Demand and Supply, The law of Demand
Quiz 1 (Wednesday, January 16th)
Chapter 4: Demand and Supply
The law of Supply, Change in Demand, Change in Supply
3. Week of January 23rd and January 25th
Chapter 4: Demand and Supply
Market equilibrium, surplus, shortage
Chapter 3: Interdependence, Gains from trade
Production possibilities, specialization and trade
4. Week of January 28th , January 30th and February 1st (Midterm 1)
Chapter 3 (continued)
Absolute advantage, comparative advantage
February 1st
1st:: Midterm 1, Chapter
Chapterss 1, 2, 3 and 4.
5. Week of February 4th , February 6th and February 8th
Chapter 10: Measuring a Nation's income
Gross Domestic Product (GDP). Real and nominal GDP.
The GDP deflator
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Chapter 11: Measuring the cost of living
The consumer price index (CPI), Inflation rate
6. Week of February 11th (Quiz 2), February 13th and February 15th
Chapter 11 (continued)
Quiz 2 (Monday, February 11th)
Chapter 13: Saving, Investment and Financial System
Financial markets and financial intermediaries
7. Week of February 18th , February 20th and February 22nd (Midterm 2)
Chapter 13: continued
Savings and investments, the Market for loanable funds
Midterm 2 (Friday, February 22nd , chapters 10, 11 and 13)
8. Week of February 25th , February 27th and March 1st
Chapter 15: Unemployment
Measurement of unemployment, Minimum wage
Chapter 16: The monetary system
Definition of money, Functions of money.
9. Week of March 4th , March 6th and March 8th (Quiz 3)
Chapter 16: continued
The Federal Reserve System, Tools of monetary policy
Banks and the monetary system Money creation
Quiz 3 (Friday, March 8th )
10. Week of March 11th , March 13th and March 15th
Spring break, no class
11. Week of March 18th , March 20th and March 22nd (Midterm 3)
Chapter 17 Money growth and Inflation
Determinants of the price level, Determinants of the price level
Midterm 3 (Friday, March 22nd , Chapter 15, 16 and 17)
12. Week of March 25th , March 27th and March 29th
Chapter 17 Money growth and Inflation
Monetary neutrality, Velocity and the Quantity Equation, Fisher effect
Chapter 20 Aggregate Demand and Aggregate Supply
Determinants of aggregate demand, Long run and Short run aggregate supply curve
13. Week of April 1st , April 3rd (Quiz 4) and April 5th
Chapter 20 continued
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Determinants of aggregate supply
Economic fluctuations
Quiz 4 (Wednesday, April 3rd )
14. Week of April 8th , April 10th and April 12th
Chapter 21 : The Influence of Monetary and Fiscal Policy on Aggregate Demand
Monetary policy influence , Fiscal policy influence,
15. Week of April 15th , April 17th (Quiz 5) and April 19th
Chapter 21 : continued
using policy to stabilization the economy
Quiz 5 (Wednesday, April 17th )
Final exam review.
No class on April 22nd , but final office hour during class time
Final exam, Chapters 17, 20 and 21.
Note: This syllabus is tentative and subject to change based on the needs of
the class.
ACADEMIC MISCONDUCT
Academic integrity is essential to maintaining an environment that fosters excellence in teaching,
research, and other educational and scholarly activities. Thus, The Ohio State University and the
Committee on Academic Misconduct (COAM) expect that all students have read and understand
the University’s Code of Student Conduct, and that all students will complete all academic and
scholarly assignments with fairness and honesty. Students must recognize that failure to follow
the rules and guidelines established in the University’s Code of Student Conduct and this
syllabus may constitute “Academic Misconduct.”
The Ohio State University’s Code of Student Conduct (Section 3335-23-04) defines academic
misconduct as: “Any activity that tends to compromise the academic integrity of the University,
or subvert the educational process.” Examples of academic misconduct include (but are not
limited to) plagiarism, collusion (unauthorized collaboration), copying the work of another
student, and possession of unauthorized materials during an examination. Ignorance of the
University’s Code of Student Conduct is never considered an ‘excuse’ for academic misconduct,
so I recommend that you review the Code of Student Conduct and, specifically, the sections
dealing with academic misconduct.
If I suspect that a student has committed academic misconduct in this course, I am obligated by
University Rules to report my suspicions to the Committee on Academic Misconduct. If COAM
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determines that you have violated the University’s Code of Student Conduct (i.e., committed
academic misconduct), the sanctions for the misconduct could include a failing grade in this
course and suspension or dismissal from the University.
If you have any questions about the above policy or what constitutes academic misconduct in
this course, please contact me.
Other sources of information on academic misconduct (integrity) to which you can refer include:
The Committee on Academic Misconduct:
www.oaa.osu.edu/coam/home.html
Ten Suggestions for Preserving Academic Integrity:
www.oaa.osu.edu/coam/ten-suggestions.html
Eight Cardinal Rules of Academic Integrity:
www.northwestern.edu/uacc/8cards.html
Disability Services
Any student who feels she/ he may need
accommodation based on the impact of a
disability should contact the instructor
privately to discuss your specific needs.
Please contact the Office for Disability
Services at 614/ 292-3307 in 150 Pomerene
Hall to coordinate reasonable
accommodations for students with
documented disabilities.
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