Economics 201 Section 4
Macroeconomics
Fall 2004
Wednesday 6:00 – 8:30
Midway
"Economic progress, in capitalist society, means turmoil.”
-- Joseph A. Schumpeter
Instructor:
Office:
Office Hours:
Messages:
Textbooks:
Allen S. Bellas, Ph.D.
Room 804, Minneapolis Campus, 730 Hennepin Ave.
Wednesday 11:00 a.m. - 4:00 p.m., Thursday 1:00 p.m. – 4:00
p.m. at Minneapolis and 5:00 p.m. – 6:00 p.m. at Midway,
Saturday 8:00 a.m. – 9:00 a.m. (at St. Paul) and by appointment
612-659-7272 (office) 612-659-7268 (fax). Please call my office
to notify me of an incoming fax. Please include my name on all
faxes you send. My e-mail address is:
allen.bellas@metrostate.edu
Macroeconomics by Baumol and Blinder (9th edition). The
accompanying study guide by Swan is optional. Textbook can be
ordered from www.metrostate.bkstr.com or the bookstore (651793-1670)
Eat the Rich by P.J. O’Rourke
My Web Site:
Grading:
Homework*
Midterm Exam #1
Midterm Exam #2
Final Exam
25% *Your top 7 (of 9) homework
25% assignments will be counted towards
25% your final grade.
25%
Course description: This course focuses on the economy as a whole and studies how
government can affect the economy. After starting with principles of markets, the price
system and supply and demand, the course covers national income accounting,
business cycles, inflation, unemployment, fiscal policy, monetary policy and the Federal
Reserve System, different approaches to economic growth, and the foundations of
international trade. Prerequisite: College algebra competence.
Students requesting accommodations for disabilities must register with the Office for
Disabilities and Special Services (651-793-1540) as early as possible. If you have a
documented learning disability, or if you suspect you have a learning disability which
may impact your opportunity to succeed in this course, call the Office for Disabilities
and Special Services right away so that you can explore possible ways to reasonably
accommodate your learning style.
DEADLINES/RULES
1) Class attendance is recommended but not required. Students usually find that
attending class significantly enhances their learning.
2) I rarely give make-up exams; however I will make an exception if you have a
valid reason (e.g. illness, family or business concerns) and contact me (via email
or voice mail) no later than 24 hours after the start of the exam.
3) Make-up exams must be taken at the St. Paul (651-793-1533) testing center and
completed within one week of the originally scheduled exam.
4) There will be absolutely no make-ups for homework. I will review the homework
in class on the due date so if you turn the homework in late without my
permission I will review it but you will not receive credit for it. If you are unable to
attend class on the day an assignment is due you must arrange for submission
of your homework assignment via fax, email, or postal mail.
5) Extra credit assignments are not offered.
6) Incompletes must be arranged with me prior to the last day of class and will
conform to official university policy. A grade of incomplete may be considered if
the person requesting has successfully completed at least half of the course and
is a student in good standing in the course. “Good standing” means the
requester is earning a passing grade (C- or better) and has attended class
regularly. I reserve the right to refuse a request for an incomplete.
7) The last day to drop this class and request a refund is August 29, 2004.
8) The last day to withdraw from this class is November 14, 2004.
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Class Schedule
Week
8/25
9/1
9/8
9/15
9/22
9/29
10/6
10/13
10/20
10/27
11/3
11/10
11/17
11/24
12/1
12/8
Topic
Introduction to Economics, Graphs, Scarcity
and Choice
Supply and Demand, Intro to
Macroeconomics
Homework #1 due
Goals of Macroeconomic Policy
Homework #2 due
Economic Growth
Homework #3 due
Midterm Exam #1
Income and Spending, Demand-Side
Equilibrium
Supply-Side Equilibrium, Fiscal Policy;
Homework #4 due
Money and the Banking System
Homework #5 due
Monetary Policy
Homework #6 due
Midterm Exam #2
Monetary Policy vs. Fiscal Policy, Budget
Deficits and the National Debt
Inflation and Unemployment, International
Trade; Homework #7 due
International Monetary System
Homework #8 due
No Class - Thanksgiving
Exchange Rates & the Macroeconomy
Homework #9 due
Final Exam
Readings
Chapters 1 – 2
Chapters 3 – 4
Chapter 5
Chapter 6
Chapters 7 – 8
Chapters 9 – 10
Chapter 11
Chapter 12
Chapters 13 - 14
Chapters 15 - 16
Chapter 17
Chapter 18
The final exam is scheduled for Wednesday, December 8 from 6:00 to 8:30 p.m.
so do not buy any non-refundable plane tickets for travel before this date!
World Wide Web Economic Resources:
Your Textbook
Resources for Economists
on the Internet
Bureau of Labor Statistics
The Economist Magazine
On the Issues
Iowa Electronic Markets
Central Banking Resource
Center
National Debt Clock
US Congress
http://baumol.swcollege.com
http://rfe.wustl.edu/EconFAQ.html
http://www.bls.gov/
http://www.economist.com
http://issues2000.org/
http://www.biz.uiowa.edu/iem/
http://www.patriot.net/users/bernkopf/
http://www.brillig.com/debt_clock/
http://thomas.loc.gov/
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Federal Reserve Board of
Governors
The Dismal Scientist
1)
2)
3)
4)
5)
6)
http://www.federalreserve.gov/
http://www.economy.com/dismal/
Other Things to Know about This Course
Homework assignments and exams will be in the form of short essay questions and
problems. I do not use true-false, multiple-choice, or fill-in-the-blank questions.
I do not “take away” points when I grade; you earn points with your answers. Your
score starts at zero and goes up, not at 100% and goes down.
You do not earn points by “fishing”. Correct, but irrelevant, statements earn no
credit.
Your answers must be precise. Try to avoid non-specific words such as “it” or “this”.
For example, do not say “it would not be good to do this”; rather “this economic
policy would be ineffective because …”
I strongly recommend that you read the assigned chapters for a given week before
that week’s class meeting.
Plagiarism is a serious matter that will not be treated lightly. Possible sanctions
include warning, course failure or grade change, probation, suspension or expulsion.
The following is an excerpt from the Student Handbook
(http://www.metrostate.edu/handbook/academic.html):
Plagiarism
In simple terms, plagiarism is using another person’s words or ideas and
presenting them as your own, without acknowledging the original source.
This is a very serious offense and is grounds for expulsion.
Plagiarism often takes the form of a student copying information from one
source and presenting it in a paper or report without the use of footnotes
or direct mention of the source in the body of the paper. Naturally,
students are expected to read and use a variety of sources when writing a
paper, but when the exact words (or words with slight modification) or
ideas of others are used, the sources should be properly acknowledged.
When instructors read student papers, they want to know which ideas are
the student’s and which belong to other sources.
It is also unacceptable to submit another person’s paper or examination
as your own. In such cases, instructors may impose sanctions such as a
failing grade. If you have questions about the use of footnotes or other
notations, talk to your instructor, consult William Coyle’s Research
Papers, available at the university bookstore or you can seek assistance
in the proper way of writing a paper by contacting the Writing Center.
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