DEPARTMENT OF FINANCE AND ECONOMICS
ECON 252 (CRN # 60637, SECTION 3, DISTANCE LEARNING): MACROECONOMICS
SPRING 2010
Instructor:
Dr. Amlan Mitra
Online Meeting:
BLACKBOARD (January 19 – May 15, 2010)
Office:
Anderson Building, A-374
Office Hours:
Mon/Wed: 11:00 – 1:00 P.M. and Mon: 4:00 – 6:00 P.M. and by appointment
Telephone:
(219) 989-2313
Fax:
(219) 989-3158
E-mail:
Use Blackboard E-Mail
HomePage:
http://mgmt.calumet.purdue.edu/amlanmitra.htm
UNIVERSITY CATALOG DESCRIPTION:
Analysis of the forces affecting national income, employment, interest rates, and the price level. Emphasis is
placed upon the role of government fiscal and monetary policy in achieving full employment and stable prices.
Prerequisite: ECON 251 and MATH 225.
COURSE DESCRIPTION:
This is a distance learning course in introductory macroeconomics. It introduces economics analysis of aggregate
employment, income, and prices. The topics include major schools of economic thought, aggregate supply and
demand; economic measures, fluctuations, and growth; money and banking; stabilization techniques; the business
cycle; inflation; international trade; protectionism; and current event topics. Upon completion, students should be
able to evaluate national economic components, conditions, and alternatives for achieving socioeconomic goals.
REQUIRED TEXT & ACCESS CODE FOR ONLINE MATERIALS:
Hubbard, Glen R. & A. P. O’Brien, Economics, Updated Edition (Second Edition), Prentice Hall Publisher, 2009.
ISBN: 9780135020234
MYECONLAB: You MUST enroll in MyEconLab using your access code from the text book.
Blackboard e-mail and announcements for more detailed information on MyEconLab.
Look at
ACCESS CODE: New books have access codes. For used text books, access codes can be purchased from the
publisher. See Blackboard information
OTHER RECOMMENDED MATERIALS:
1. Study Guide provided through MyEconLab
2. Wall Street Journal: It is very important for you to try to use the materials from lectures in understanding
real world phenomena. Where do you find intelligent and very current discussions of economic issues?
An excellent source is the Wall Street Journal (WSJ).
3. Economics Websites: Please visit my homepage: http://mgmt.calumet.purdue.edu/amlanmitra.htm to link
to some economics websites.
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LEARNING OBJECTIVES:
Upon completion of this course, students should be able to:
1. Explain the basic principles of economics and how basic macroeconomic variables are measured.
2. Examine the aggregate demand and aggregate supply framework.
3. Examine the Federal Reserve, money and banking.
4. Examine the fiscal, monetary policies and global economy.
5. Develop skills in analytical reasoning and problem solving.
ASSESSMENT OF LEARNING OBJECTIVES:
Completing assigned readings, timely submission of online quizzes, two exams, term project, and active
participation in the discussion forum are the basic requirements to meet the five learning objectives. Each of
these five learning objectives will be assessed in the following way:
Learning Objective
1
2
3
4
5
Assessment Tools
Quizzes 1 - 5, Exam 1, Discussion Topic 1
Quizzes 6 - 7, Exam 2, Discussion Topic 2
Quiz 8, Exam 2, Discussion Topic 3
Quizzes 9 - 13, Exam 3, Discussion Topic 4
Course Grade
STUDENT EVALUATION POLICIES:
GRADING POLICY: Participating in the discussion boards online, completing assigned readings, homework
assignments, quizzes, and scheduled exams are the basic requirements to meet our course objectives. Each
student will be evaluated on the basis of participation (i.e. number of times) on the discussion boards, top fifteen
quizzes and three exams. Each quiz and exam will be some combination of true-false and multiple-choice
questions. The student's overall percentage score is based upon the following weights:
Quizzes:
Exam 1:
Exam 2:
Exam 3:
Discussion Board:
100 points (Top 10 quiz scores)
100 points
100 points
100 points
50 points (12.5 points each topic)
Then there will be an adjustment to your grade for satisfactorily completing homework assignments. This
adjustment will range from 1 to 5 percent to your original grade and may help to move up your letter
grade if your actual grade falls marginally short of the next higher grade. The adjustment will be determined
by the instructor based on student’s participation and solutions to the homework assignments.
Grading Criteria: Low A: 90%; Low B: 80%; Low C: 70%, and Low D: 60%
MAKE-UP POLICY: Students who fail to submit homework assignments, quizzes and exams due to Internetrelated problems caused by Purdue Calumet BLACKBOARD breakdown or failure will be allowed to re-take
them. In all other situations (such as your PC-related problems, browser and connection failures), you will
not be given any make-up homework assignments or quizzes. Based on your circumstances and evidence,
you may be allowed to take only one make-up exam at my office on campus.
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QUIZZES & HOMEWORK ASSIGNMENTS:
There will be quizzes and homework assignments on every chapter assigned on MyEconLab/BLACKBOARD.
These will be due by Sunday midnight before the new chapters are assigned for the following week. Please
review the “Course Schedule” section of this syllabus for chapter assignment. The quizzes will be timed and
there will be no multiple attempts allowed. Homework assignments will be short essay questions, mostly from
the text book, on both economic concepts and applications. The homework assignments will not be returned and
graded. I will, however, put the solutions of the homework assignments online after the due dates. Students are
strongly encouraged to turn in their homework assignments because there will be an adjustment to your
grade for satisfactorily completing homework assignments. This adjustment will range from 1 to 5 percent
to your original grade and may help to move up your letter grade if your actual grade falls marginally
short of the next higher grade. The adjustment will be determined by the instructor based on student’s
participation and solutions to the homework assignments. The purpose of these quizzes and homework
assignments is to solidify your understanding of the lecture materials and prepare you for the exams.
YOUR TOP TEN QUIZ SCORES WILL BE COUNTED TOWARDS YOUR GRADE. THEREFORE,
NO MAKE-UP QUIZZES WILL BE ALLOWED
DISCUSSION BOARD:
There will be four discussion topics posted on the discussion board in BLACKBOARD throughout the semester.
Each student is expected to participate in each discussion topic in a substantive manner. Your participation
should demonstrate and satisfy the following five criteria:
1. Knowledge of the discussion topic
2. Logical and focused arguments/analysis
3. Asking thought provoking questions to other students
4. Logical and focused responses to questions posed by others
5. Engaging communication through multiple postings
Equal weights will be given to each of the above five criteria. Your grade will be based on your participation in
all of these five criteria.
EXAMS:
There will be THREE EXAMS conducted online. All exams will consist of True/False and/or Multiple-Choice
questions. The tentative exam dates are:
EXAM 1:
EXAM 2:
EXAM 3:
Due by February 21 (Sunday midnight), Chapters 1, 19 - 22
Due by March 28 (Sunday midnight), Chapters 23 – 24
Due by May 12 (Wednesday midnight), Chapters 25 – 30
Please note that all exam dates are subject to change. Any changes in the exam dates will be communicated to
you online at least a week in advance. It is the student’s responsibility to note any changes in the exam dates
announced online.
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A FINAL NOTE: It is not difficult to do well in this course. If you are to do well in this class, you must read the
assigned chapters thoroughly, review the lecture notes with regularity throughout the semester, and be active in
discussions on BLACKBOARD. Please do not be deceived. If you think that you will not be able to spend
adequate time for this class, you are better off taking it later.
STUDENTS WITH DISABILITIES:
In compliance with the Americans with Disabilities Act (ADA), all qualified students enrolled in this course are
entitled to reasonable accommodations. It is the student's responsibility to inform the instructor of any special
needs before the end of the second week of classes.
A NOTE ON ACADEMIC HONESTY:
Honesty and integrity in academic and personal pursuits are hallmarks of higher education. By acting honestly
and with integrity, students maintain and uphold their own reputations, and the reputation of both the School of
Management and the University. The Students Handbook states that “the commitment of the acts of cheating,
lying, stealing and deceit in any of their diverse forms (such as the use of ghost-written papers, use of substitutes
for taking examinations, the use of illegal cribs, plagiarism, and copying during exams) is dishonest.” Also, aiding
and abetting in committing dishonest acts is in itself dishonest. The penalty for any student(s) involved in any of
such acts will range from an outright zero in the specific assignment the act was committed to a grade of “F” in
the course.
HONOR CODE: I understand that academic dishonesty will not be tolerated at Purdue University Calumet. I am
here to learn. Through learning, I will strive to become a better person and a more valuable contributor to society.
I understand that dishonesty in the classroom, through cheating, plagiarism or other dishonest acts, defeats this
purpose and disgraces the mission and quality of a Purdue University Calumet education. Therefore, I make the
following pledge: in accordance with the Honor Code, I will not engage in dishonesty in my academic activities,
and I will not tolerate such dishonesty by other students.
CLASSROOM CIVILITY: Purdue University Calumet supports the principles of freedom of expression for
both faculty and students. The University respects the rights of faculty to teach and students to learn. Maintenance
of these rights requires classroom conditions that do not impede the learning process. Disruptive classroom
behavior will not be tolerated. An individual engaging in such behavior may be subject to disciplinary action.
Definition of Civility: Purdue University Calumet places a priority on student learning. We value the inherent
worth and dignity of every person, thereby fostering a community of mutual respect. We believe that in order to
achieve these ideals, all Purdue University Calumet students are expected, while in the role as student or
representative of the university, to exhibit and practice civil behaviors, defined as behaviors that:
1. Respect faculty, staff, fellow students, guests, and all university property, policies, rules and
regulations
2. Take responsibility for one’s choices and actions
3. Accept consequences of one’s inappropriate choices and actions
4. Communicate in a professional and courteous
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EMERGENCY PREPAREDNESS: In the event of…
Fire…
• Know the location of the fire alarms, fire extinguishers and evacuation routes and exits.
• Evacuate when the alarm sounds.
• Help ensure everyone evacuates.
• Assist others during the evacuation.
• Immediately call University Police (989.2911) if you or others need assistance or if someone is trapped in
an elevator.
Severe Weather…
• Know the location of your Storm Safe Area.
• Listen for announcements via the campus public address system.
• Follow instructions.
• Help ensure everyone is aware and follows instructions.
Medical Emergency…
• Immediately call University Police (989.2911)
• Immediately call 9-911 (if you are using a campus phone or 911 if you are using a cell phone) if an
ambulance is needed.
• Do not administer first aid or move the person unless trained to do.
• Stay at the scene to provide information to emergency personnel.
Power Failure…
• If it lasts more than a few seconds…secure your space and go to the first floor.
• Listen for announcements via the campus public address system.
• Follow instructions.
• Help ensure everyone follows instructions.
• REMEMBER…emergency lighting is limited in duration…it is intended to help you evacuate safely…it is
not intended to help you keep working.
Elevator Failure…
• If you are trapped, activate the elevator alarm and use the emergency telephone to contact University
Police.
• If you hear someone who is trapped in an elevator, reassure them that you will call University Police
(989.2911).
Criminal Activity…
• Call University Police (989.2911) immediately if you observe a crime, note a suspicious person or have
knowledge of a crime previously committed. The confidential hotline number for reporting suspicion of
criminal behavior is 989-2912.
Dangerous Individuals…
• Call University Police (989.2911) immediately if you observe someone demonstrating apparently irrational
or harmful behavior.
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•
Also please take note of the campus resources that are available should you believe that a student may
benefit from intervention that could prevent a potential emergency situation:
Dean of Students office: 989-4141
Counseling Center: 989-2366
Hazardous Condition…
• If you see, smell, touch or hear something that is a hazard or has the potential to become a hazard call
University Police (989.2911).
Sounds like gunshot…
• Turn off lights to the room.
• Lock or barricade the door.
• Hide where you can’t be seen.
• Call the University Police (989.2911)
• Wait for Police to arrive.
WHEN IN DOUBT…CALL UNIVERSITY POLICE AT 989.2911
FOR ADDITIONAL INFORMATION ON EMERGENCY PREPAREDNESS:
http://www.calumet.purdue.edu/emergency/
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TENTATIVE COURSE SCHEDULE (SUBJECT TO CHANGE):
WEEK
1
DATE
1/19 – 1/24
TOPIC
Introduction
CHAPTER READING
1
2
1/25 – 1/31
Measurement of Domestic Output and National Income
19
3
2/1 – 2/7
Unemployment and Inflation
20
4
2/8 – 2/14
Economic Growth and Business Cycles
21
5
2/15 – 2/21
Long Run Economic Growth
EXAM 1 due by Sunday midnight, February 21
22
1, 19 – 22
6
2/22 – 2/28
Short-run output and expenditures
(Aggregate Expenditure Model)
23
7
3/1 – 3/7
Aggregate Expenditure Model (Continued)
23
8
3/8 – 3/14
Aggregate Demand and Aggregate Supply Analysis
24
9
3/15 – 3/21
SPRING RECESS
10
3/22 – 3/28
Aggregate Demand/Supply (Continued)
EXAM 2 due by Sunday midnight, March 28
24
23 - 24
11
3/29 – 4/4
Federal Reserve, Money and Banking
25
12
4/5 – 4/11
Monetary Policy
26
13
4/12 – 4/18
Fiscal Policy
27
14
4/19 – 4/25
Federal Reserve Policy
28
15
4/26 – 5/2
Open Economy
29
16
5/3 – 5/9
International Financial System
30
17
5/12
FINAL due by Wednesday midnight, May 12
25 – 30
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