Principles of Macroeconomics (Eco 103 AD)
North Shore Community College
Summer 2007
Syllabus
Professor: Moonsu Han
Office: Danvers Berry 367H
Lecture: Danvers Berry 102, 6:30pm - 9:30pm, T and TH
Phone: 978-762-4000 ext. 5456
Office Hours: 6:00pm-6:30pm, T & TH and by appointment
E-mail: mhan@northshore.edu & moon.econ@gmail.com
Web Page: http://myweb.northshore.edu/users/mhan/
Course Description
Eco 103 Principles of Macroeconomics, more than ever before, economics plays a vital role
in society. This course will provide the core materials of macroeconomics and international
economics. Topics covered will include an introduction to economics, aggregate demand and
aggregate supply, productivity and growth, unemployment and inflation, national income
accounts, consumption, investment and government spending, money and banking, monetary
and fiscal policy, international trade and finance.
In other words, Eco 103 is designed to introduce you to the study of macroeconomics.
Macroeconomics focuses on following issues: economic growth, unemployment, inflation,
monetary and fiscal policies, and the relationship between the economy and the stock market.
Lecture materials, readings, homework assignments and exams have been chosen to
introduce you to: the vocabulary of economics with an emphasis on macroeconomics; some
data and facts about the American and foreign economies; and alternative theories and
viewpoints about macroeconomics. At the end of the course, you should have an
understanding of the complex issues economists confront.
Required Textbook
We will use Hubbard and O’Brien’s Macroeconomics. Our Textbook is available in the
North Shore Community College bookstore.
1
Instructional Objectives
As a result of this course, the students will:
Be able to understand and respond effectively to the uncertainties of a changing
technological, social, and economic world.
Get the GNP, GDP, inflation, unemployment, economic growth, monetary and fiscal policies
concepts integrated into each student’s way of thinking.
Be able to understand and to describe the nature and power of the market mechanism in
whole domestic and international aspects.
Teaching Procedures
I’d like to emphasize two things, class participation and problem solving/application.
Students will be expected to contribute by answering questions, asking questions, and making
comments. You can participate/contribute during our classes or via e-mail. Students will be
expected to solve suggested questions. Also I will provide hints first and answer key later. I
will provide handouts to supplement lectures if necessary.
Course Requirements
There will be 4 homework assignments, one midterm exam, and a final exam. You are
responsible for material covered in lecture as well as the assigned reading. Class attendance is
mandatory and HIGHLY recommended.
Note: I expect you to work in my class. I suggest approximately three hours of outside study
time for each hour of lecture. Due to the cumulative nature of the material please do not fall
behind.
Attendance Policy
Students are responsible for all material covered in class as well as outside assignments:
therefore, regular attendance is expected. Up to three absences are tolerated – except in the
case of a documented medical/legal/personal emergency. Three points will be subtracted
from your final average for every undocumented absence over the three which are permitted.
On your 4th absence you will be assigned an “F” for the course unless you withdraw through
the Registrar’s Office. However, before you decide to withdraw this class, please talk to me
first. Because it is rude and distracts your classmates and the professor, tardiness is strongly
discouraged, and students who arrived late to class should speak to me after class to be sure
that they have been marked present.
2
Assignments
Assignments are due at the end of your class on the listed date to me. No late assignments
will be accepted. Only documented special circumstances (i.e. illness) will exempt you from
this rule. If you know in advance that you will not be able to hand in an assignment on time
(i.e. you will miss class), you must speak to me before the assignment is due and hand it in
early. I will drop your lowest homework score to allow for some flexibility. Thus you will
have 3 assignments that count towards your final grade.
Note: I strongly suggest to type homework. Graphs and calculations may be handwritten. I
suggest handwriting graphs as a form of practice for the exams.
Note: You must do your own work. Turning in identical homework will result in a zero for
both parties. Similar homework will receive a warning the first time and a zero each
additional time for both parties.
Grades
You have the opportunity to earn 4 scores of up to 100 points each as follows:
Homework
(Recall that only your top 3 scores count)
Midterm Exam
Final Exam x 2
Your final exam counts twice as much as a single midterm or the homework.
Total 4 scores will each count for 25% of your grade.
Grading Scale
%
93-100
90-92.9
87-89.9
83-86.9
80-82.9
77-79.9
73-76.9
70-72.9
67-69.9
63-66.9
60-62.9
0-59.9
Grade____
A
(4.0)
A(3.7)
B+
(3.3)
B
(3.0)
B(2.7)
C+
(2.3)
C
(2.0)
C(1.7)
D+
(1.3)
D
(1.0)
D(0.7)
F
(0.0)
I reserve the right to lower these cut-off points (i.e. increase the letter grades for percentages),
but I will not raise the cut-off points (i.e. make it harder to get good grades).
3
Scholastic Dishonesty
For the purpose of this class, students may work together on homework provided the
following rules are followed: Any collaboration MUST be noted at the end of your
homework and each student must individually write up each homework assignment.
Anyone committing scholastic dishonesty on an exam will receive an F for the class.
Schedule: (Subject to change)
Dates
Topics
Notes
May 22 (T)
May 24 (TH)
May 29 (T)
May 31 (TH)
June 5 (T)
June 7 (TH)
June 12 (T)
June 14 (TH)
June 19 (T)
June 21 (TH)
June 26 (T)
June 28 (TH)
Introduction/ Micro Review
GDP: Total Production & Income
Unemployment & Inflation
Economic Growth
Output & Expenditure
Midterm Exam I
Money, Bank and FRB System
Monetary & Fiscal Policy
Open Economy
Int’l Financial System
Review
Syllabus, Ch 3, HW #1
Ch 7
Ch 8, HW #2
Ch 9 & Ch 10
Ch 11 & Ch 12
Over Ch 7-12
Ch 13
Ch 14 & Ch 15, HW #3
Ch 17
Ch 18, HW #4
Final exam
Over Ch 13-18
4