Economics 1010-03: Principles of Macroeconomics
MWF 1:10 PM–2:00 PM, BU 129
Katherine Lee
Office: 080 BU
Office Hours: Mondays & Wednesdays 2:00 PM - 3:00 PM
Email: klee20@uwyo.edu
Class Website: students.uwyo.edu/klee20/econ1010.html
USP Course: This course fulfills USP requirement CS
Office Hours
Mondays and Wednesdays 2:00 - 3:00 PM. You can schedule an appointment outside of these times via email or
after class. Please contact me if you have any problems with class material. Topics covered throughout the semester
will build on one another so not understanding material early on can make your life to be much more difficult than
it needs to be later!
Course Description
Economics is the study of how individuals and societies use scarce resources to satisfy human wants. Macroeconomics studies how the economies of large regions, countries, and the world work. We will cover the foundational
economic models that are designed to explain problems that affect the standard of living for people in these regions
such as growth, output, unemployment and inflation. We will use these concepts to attempt to understand why
economies experience recessions and booms, and what policy options governments have to avoid decreases in the
standard of living that people enjoy.
Course Prerequisites
None. A basic understanding of graphical analysis (plotting points, lines, and calculating slope) and basic algebra
are used frequently throughout the course. Please make an appointment with me if you feel you need a brush up
on these topics.
Objectives
For economics majors, this course will lay the foundation for further study. For majors and non-majors alike, this
course will give you problem-solving skills and the ability to think more deeply about economic policies, decisions,
and what you observe around you.
By the end of the semester, students should be able to explain the following:
1. The language and terms used in economics
2. The basic methodology and models of macroeconomics and the applications of these models
3. How and why current economic issues relate to people’s welfare and their own decisions
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2
Required Text
Principles of Macroeconomics, Sixth or Seventh Edition - N. Gregory Mankiw.
Required Supplement
This course requires that you are able to access WyoCourses. WyoCourses will also be used for quiz assignments.
WyoCourses can be accessed at www.uwyo.edu/wyocourses/ and selecting course Principles of Macroeconomics
after logging in with your UW username and password.
Exams and Grading Policy
Students will be expected to have an account on the UW computer system and be able to access email and the
internet. E-mail and/or a class website will be used to make class announcements. Students will be expected to
have completed all required readings before the class in which they will be covered. The use of programmable
calculators is not allowed during exams – no TI-83, -89, HP-28, -50, etc.
Final letter grades will be given by this scale: 90–100% = A; 80–89% = B; 70–79% = C; 60–69% = D; below 60%
= F. This will be determined using the following scheme:
Task
5 WyoCourses quizzes (Due: 02/16, 03/02, 4/06, 04/27, 05/11)
4 problem sets (Due: 2/23, 3/09, 04/13, 05/04)
3 writing assignments (Due: 2/09, 03/30, 04/20)
In-class exam 1
In-class exam 2
In-class exam 3
Percentage of Final Grade
20%
20%
15%
15%
15%
15%
WyoCourses Quizzes
The purpose of the 5 WyoCourse quizzes is to help prepare you for exams. Quizzes will be posted at 10:00 AM
the Friday before each is due. Quizzes will be due at 5:00 PM on Mondays. Technical issues can happen. Over the
course of the semester you may have issues logging into WyoCourses causing you unable to finish the online coursework
before it is due. If this is the case I will decide on a reasonable time extension for the assignment. Of course, not leaving
assignments until the last minute is one way to avoid this problem.
Problem Sets
Problem sets are assigned after a series of chapters are covered in lectures and these will allow you get some practice
with economic thinking, solving problems and making connections about what you’ve learned. Some assignments
will be similar problems covered in class, others will be writing assignments. You will lose 10% credit on each
take-home assignment for every class day that it is late.
Writing Assignments
Writing assignments are designed to make you think critically and creatively to analyze real-world issues applying
economic concepts. Each writing assignment should be single-spaced, typed, in Times New Roman font, and no
larger than size 12. You will lose 10% credit on each written assignment for every class day that it is late.
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In-class exams
In-class exams will be 50 minutes long and take place in class on the dates listed. The exams will be a combination
of multiple choice and short-answer questions. Each exam will focus on the most recent material covered in class,
though economic concepts covered in this course build upon themselves. There will be NO MAKE-UP TESTS
given in the course unless reasonable and official excuse is provided from the Office of Student Life. If you miss a
test you will be assigned a grade of zero. If an acceptable excuse is provided, the student will have the opportunity
to take the make-up test offered within a reasonable time.
Attendance Policy
You are expected to attend all classes. If you miss a class meeting, you are expected to obtain notes and other material
on your own. Students will be notified of class cancellations by class announcements and email if necessary. Missing
tests will be given a grade of zero and only under extenuating circumstances requiring a reasonable excuse provided
from the Office of Student Life or other source (as deemed acceptable by the instructor) will this policy by lifted.
Group Work Policy
Working in groups while solving homework problems and preparing for the tests is greatly encouraged, but each
student MUST submit his or her individual answer for homework assignments. Any academic dishonesty will minimally result in an F grade for that particular assignment and will be prosecuted to the fullest extent that University
Regulations allow. When a group is found to be academically dishonest, all members of that group will face the
same penalties.
Classroom Decorum: The UW Student Code of Conduct
The UW Student Code of Conduct is a two-way contract between you and me.
UNIREG 30 states that the student has obligations as well as rights in the classroom. Your obligations in this
include the following:
· Arriving on class on time. If you continually interrupt the class with late arrival you will be asked to withdraw
from the course.
· Acting in a mature manner conducive to enhancing a learning atmosphere. You are expected to limit talking
or other actions and devices (including eating or the use of cell-phones) that might disturb or otherwise
distract others, including the professor. Please do not monopolize class time.
· Treat others in the class with respect. Verbal or written abuse against others is unacceptable both in- and
outside of class. This includes antagonizing other students for ideas – if you disagree, counter with a reasonable argument rooted in economic thought to support your position. Debate is encouraged, being nasty will
NOT be tolerated. If someone in class is making you feel unsafe, let me know immediately.
My obligations include:
· Setting clear and reasonable expectations for students and judging the attainment of these expectations without prejudice.
· Grading and returning assignments and exams in a timely manner.
· Endeavor to ensure that students have the ability to be successful in class - this includes being prepared for
class, available to answer questions and being as helpful as possible in answering them.
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Academic Dishonesty
Academic dishonesty is not tolerated in this classroom nor in this department. Individuals that are found to be in
violation will be disciplined to the fullest extent of University Regulations. Academic dishonesty includes (but is
not limited to):
· Providing the work of others as though it is your own
· Allowing another student to copy your work
· Knowingly allowing academic dishonesty to occur and not taking action
· Giving or receiving assistance during exams
· Using unauthorized materials or devices when prohibited from doing so
Any instance of academic dishonesty will be prosecuted under the guidelines laid out in UNIREG 6-802. Academic dishonesty can result in a permanent F in the course and/or suspension from the university. Please keep
yourself informed by reading the University Regulations.
Student Services
If you have a physical, sensory, cognitive, psychological or other disability that requires accommodation in this
course, please let me know as soon as possible. You will need to register with and provide documentation of your
disability to the University Disability Support Services (UDSS) in SEO, Room 330, Knight Hall. You may reach
them at 307.766.6189, TTY: 307.766.3073
Disclaimer
All information in this syllabus is subject to change as deemed necessary by the instructor. Students will be notified
in class and by postings on the class homepage if such changes are necessary.
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Course Schedule
This is a tentative schedule, and may be subject to change.
Chapter 1:
Chapter 2:
Chapter 3:
Chapter 4:
Chapter 6:
Chapter 7:
Principles of Economics
Thinking Like an Economist
Interdependence and the Gains from Trade
The Market Forces of Supply and Demand
Supply, Demand, and Government Policies
Consumers, Producers, and the Efficiency of Markets
p.
p.
p.
p.
p.
p.
4–18
19–46
47–59
65–84
111–128
135–150
Measuring a Nation’s Income
Measuring the Cost of Living
Production and Growth
Savings, Investment, and the Financial System
Unemployment
p.
p.
p.
p.
p.
195–214
217–230
235–257
259–278
297–316
The Monetary System
Money Growth and Inflation
Aggregate Demand and Aggregate Supply
The Influence of Monetary and Fiscal Policy on Aggregate Demand
Short-Run Trade-off between Inflation and Unemployment
p.
p.
p.
p.
p.
321–341
345–366
417–452
457–478
481–502
Exam 1
Chapter 10:
Chapter 11:
Chapter 12:
Chapter 10:
Chapter 15:
Exam 2
Chapter 16:
Chapter 17:
Chapter 20:
Chapter 21:
Chapter 22:
Exam 3