Economic Principles – 1 (V31.0001)
Spring 2011
Macroeconomics
Name
Maharukh Bhiladwalla
Name
TBA
Yanping Yi
Leandro Nascimento
Instructor Information
Email
Office
mb3326@nyu.edu 19 W 4th Street
Room 703
Teaching Assistants Information
Email
Office
yanping.yi@nyu.edu,
lgn207@nyu.edu
818
620
Office Hours (drop in)
M
2-3pm
W
W 1:30 - 2:30 pm
(and by appointment)
Office Hours
TBA
TBA
TBA
Inflation, economic growth, total production, interest rates, budget deficits and unemployment are
examples of key macroeconomic variables that are of great concern to economists, analysts and policy
makers. They affect our decisions about consumption, investment and production and ultimately our
wealth and welfare. Macroeconomics will help you understand how these variables are measured, how
they behave and interact with each other. You will learn about the banking system and the structure
and role of the Federal Reserve. The course will also give you a glimpse of the most recent crisis –
how the housing market crashed and dragged the financial sector and the economy down.
Textbook and Aplia
Macroeconomics: Principles and Applications (5th edition) by Robert Hall and Marc Lieberman
Additionally, we will use Aplia- an interactive program. Assignments will be completed and graded
online. You are required to purchase Aplia. There is an online version of the textbook that you will
automatically be able to access once you purchase Aplia.
Aplia registration instructions and payment options are attached to this syllabus.
If you prefer to use a hardcopy of the textbook you can purchase it from Aplia at reduced price when
registering.
If you purchase the textbook from the bookstore make sure it includes an access code to Aplia.
All announcements, reading assignments and problems sets will be posted on the Aplia website (not
Blackboard)
Problem Sets
You will be doing online problem sets in Aplia. These will be graded by Aplia and will be 16% of your
course grade.
Aplia is set up to not accept any late homeworks, and this is beyond my control. A homework
submitted a few seconds late ends up getting a zero. It is therefore a good idea to set your own
deadline for Aplia homeworks to be completed the day before the actual deadline. This is also a good
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idea because as with all online and computer based learning, there is the possibility of technical
problems and crashes.
I will drop the lowest problem set.
PLEASE CHECK APLIA REGULARLY
Recitations
I strongly recommend that you attend the weekly recitations. The recitations will solve problems and
focus on extensions useful applications of the theory explained in class.
You are required to register for one of the recitation section though you can attend anyone of them
that is associated with the Principles class I teach.
Exams and Grades
There will be a total of three exams – two noncumulative midterms and a cumulative final.
While exams will be multiple choice questions, they will still require computations and graphical
techniques before you can circle the answer. Exams will be based on material covered in class and
recitations.
Date
Aplia graded problem sets 16%
Midterm 1
22%
February 22
Midterm 2
22%
April 5
Final
40%
May ???
Your letter grade will be determined by the average grade you earn on the exams and Aplia problems
sets. There is absolutely no extra credit work. You will get the grade you earn and the final letter
grade is not negotiable.
There are no make up exams.
In case you are unable to take an exam for reasons of a health problem or any emergency you must
contact me as soon as you can and submit documentation. Advance holiday plans or airline ticket
reservations are not accepted as a reason for missing an exam.
The economics department does not grant incompletes except in cases of genuine emergencies,
which must be documented and approved by the department’s director of undergraduate studies.
The appeal and documentation must be provided before the exam not after.
Course Policies – NO EXCEPTIONS
If you think you cannot adhere to the following course policies please do not take the course.
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You cannot disrupt class by walking in late. You must plan to get to the class and settle in by 3:30pm.
If this is not taken seriously class room doors will be closed as soon as the lecture starts.
Talking in class once the lecture starts, even if it is seeking a clarification on something you missed,
distracts others around you. Please refrain from doing so. You are welcome to ask me to repeat or
clarify anything you missed or wait until the end of the class to consult another student.
Leaving class before I declare class is over is also disruptive. If once in a way you have to leave early
please sit close to the door and leave quietly.
Please turn off all cell-phones for the duration of the class.
You are responsible for anything covered in class, recitation, and assigned as reading. If you miss class
make sure to get the material from a friend or classmate. Keeping some contact information of fellow
classmates on you is a good idea.
Lectures may not be taped.
Please do NOT make flight reservations on the assumption that you will be able to reschedule. There
are NO MAKE-UP exams for any kind of planned absence.
You will need a calculator on the exams. Large screen graphing calculators or calculators embedded in
cell phones and other electronic devices are not allowed. Please obtain a regular calculator for the
exam with only the basic functions.
If you have a conflict with my regularly scheduled office/drop-in hours, please contact me to arrange
for a mutually convenient time for us to meet whenever you need to clarify or discuss anything
course related.
Academic Integrity
As members of the NYU community, we are all expected to adhere to high standards of intellectual
and academic integrity. Please review the academic code here:
http://gsp.nyu.edu/page/ls.academicintegrity
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Course Outline
Approximate dates
January
25
27
February
1, 3
Chapters
8, 10, 15, 17
5-6
22
24
March
1, 3
midterm 1
7
8, 10, 22
24, 29, 31
April
5
7, 12, 14, 19
9, 10,
11, 12
21, 26, 28
May
3, 5, 9
TBA
15, 16
1 and 2
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Introductory material
Supply and Demand (including appendix)
3, 4
Supply and Demand (including appendix)
Working With Supply and Demand (101-115)
What Macroeconomics Tries to Explain
Unemployment (153-163)
Production and income (134-153, 164-168)
7,8
midterm 2
13, 14
The Price Level and Inflation (including appendix)
The Price Level and Inflation (including appendix)
The Classical Long-Run Model
Economic Growth, Economic Fluctuations
Short-Run Macro Model, Fiscal Policy
Money, Banking and the Federal Reserve
The Money Market and Monetary Policy
Aggregate Demand and Supply
Inflation and Monetary Policy (459- 473)
final
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How to access your Aplia course
Bhiladwalla, Macro Principles Sec 8 Spring 2011
Instructor: Maharukh Bhiladwalla
Start Date: 01/24/2011
Course Key: DWRA-WYYY-XDWB
Registration
Aplia is part of CengageBrain, which allows you to sign in to a single site to access your Cengage materials
and courses.
1.
2.
Connect to http://login.cengagebrain.com/.
If you already have an account, sign in. From your Dashboard, enter your course key (DWRAWYYY-XDWB) in the box provided, and click the Register button.
If you don't have an account, click the Create an Account button, and enter your course key when
prompted: DWRA-WYYY-XDWB. Continue to follow the on-screen instructions.
Payment
Online: Purchase access to your course (including the digital textbook) from the CengageBrain website for
US$80.00.
Bookstore: Purchase access to Aplia from your bookstore. Check with the bookstore to find out what they
offer for your course.
After paying, you will have the option to purchase a physical book from the Aplia website at a discounted
price. If you choose to pay later, you can use Aplia without paying until 11:59 PM on 02/13/2011.
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