ECON201 Syllabus
Course Title
Principles of Macroeconomics
Term
TERM 3, 2006/2007
Education Center
ADANA
Faculty Member
Nejat Erk - nerk@faculty.ed.umuc.edu
Faculty Contact Information:
nerk@faculty.ed.umuc.edu
Course Materials:
Macroeconomics
Edition: 17th w/DVD, Study Guide & Web Access Code
Publisher: McGraw
Author: McConnell and Brue
ISBN: 0-07-110144-6
Course Description:
An introduction to the problems of unemployment, inflation, and economic
growth. Emphasis is on the roles of monetary policy and fiscal policy in
determining Macroeconomic policy. The efficacy of controlling wages and
prices is analyzed. Students may receive credit for only one of the
following courses: ECON 201 or ECON 205.
Course Goals/Objectives:
After successfully completing this course, the student will be able to:
* describe an economic way of thinking
* discuss and measure economic variables
* apply macroeconomic theory to the problems of price stability, full
employment, and economic growth
* describe monetary tools and policies
* discuss the determinants of economic growth
* explain international trade and finance
Cross Curricular Initiatives
In addition to these learning objectives, this course also concentrates
on UMUC's cross-curriculum initiatives, detailed below, designed to help
UMUC students build skills to enhance their careers and overall
effectiveness in their employment.
Effective writing: There are numerous writing assignments throughout the
semester. Those assignments are expected to reflect appropriate
professional writing skills. That is, they will be evaluated on the basis
of grammar, sentence structure, spelling, and overall sound writing
principles. At least 10 percent of your grade on each writing assignment
will be based on your proficiency in expressing yourself in writing.
Information literacy: You will be expected to demonstrate proficiency at
research activity through the library and use of online sources.
Globalization: An important outcome of this course will be the
realization that macroeconomic principles apply to global situations.
Computerization: The computer has virtually altered the way macroeconomic
research is conducted. This course will emphasize the increasing use of
the computer in macroeconomics.
Historical Perspective: This course will integrate the historical
development of theory to provide the student with a context for current
theories and practice.
Civic Responsibility: Ethical behavior and role of macroeconomics in
society will be explored in this course.
Course Introduction:
This class is concerned with economic method and the fruits of that
method. We will start with a description of the tools of economics, such
as basic definitions, science, logic, and some math. The tools will be
discussed in sufficient detail for students to acquire a good background
to continue with the class.
Your study of economics will then move into a brief excursion into the
basic schools of economic thought. Economists make different assumptions
about the "way things are" and they use different tools to analyze the
economy. Not surprisingly, they come to different conclusions. This
section will provide you with some ways to think critically about
economics and the economy. We will learn about classical, Keynesian,
monetarist, and supply-side schools of thought.
Applying the tools, we will learn how income and employment in the
economy are determined. This is a large question, and there are many
parts to the answer. We need to know what the various definitions of
income are, and examine the role of financial and political institutions.
Lastly, we will study international economics. This section will put the
question of income determination into a larger context. The course will
cover a great deal of information, but the other important thing to be
gotten from the course is an understanding of the way economists think
about problems. The facts and theories change over time, but the way
economists reason has remained fairly stable, and has resulted in all the
facts and theories.
Grading Information and Criteria:
A
B
C
D
F
=
=
=
=
=
90-100%
80-89%
70-79%
60-69%
below 60%
There will be 7 weekly quizzes which will make 50 percent of the total
grade and the final will make the 0ther 50 percent of the total grade.
Other Information:
The student is responsible for all material assigned in the text as well
as material covered only in the classroom. In case of a marginal grade,
class participation will be used. In case the classes are canceled on an
exam date, the exam will be administered in the following class.
Make-Up Policy: If you are ill or must be out of town during an exam, you
must make prior arrangements concerning the exam or you will receive a
zero on that exam. The professor reserves the right to change the format
and level of difficulty of the make-up exam.
Written Assignment: A short research paper and presentation is required.
The paper must be five to six single-spaced typewritten pages. Since
effective communication is an important component of success in the
business world, papers with poor grammar and spelling errors will lose
credit. Also, late papers will be reduced by one letter grade. Please
refer to Guide to Research and Writing (University of Maryland University
College, 1998), pp. 100-102 for grading criteria. Additional information
is provided below.
Attendance Policy: The study of economics is cumulative in the sense that
concepts learned are applied in subsequent classes. Students should read
the assigned chapters prior to coming to class and be prepared to discuss
the assigned material in class. The nature of the material is such that
if you don't attend class regularly, you will have difficulty passing.
Project Descriptions:
No projects assigned
Academic Policies:
Cases of plagiarism are handled consistent with current UMUC guidelines.
See the UMUC policies at the following URL:
http://www.umuc.edu/policy/
Course Schedule:
Students should review the end-of-chapter terms and Study Questions.
Several of the text questions & problems will be gone over in class. Many
of the exam questions are based on the same types in the textbook, or
come from the handout materials.
Weekly Covered Chapters
1. Chapter 1 & 2
2. Chapter 3 & 7
3. Chapter 8 & 9
4. Chapter 10 & 11
6. Chapter 12 & 13
7. Chapter 14 & 15
8. Review and Final
Faculty Bio:
Have been with UMUC since 1985
Member of Quality Culture and Accreditation for EUA (European University
Association)
UMUC teaching Excellence Award 2000
First Research Award, European Union, Brussels, 1996
First Research Prize, Inflation Impacts on Turkish banking Sector 1998
B.S. Ankara Academy of Economics and Commercial Sciences 1971
M.S. Arizona State University 1974
Ph.D Cukurova University 1977
Last updated by Nejat Erk: January 14, 2007,