Sumell, ECON 2630 Syllabus
Spring 2014
ECON 2630
Principles of Macroeconomics
T Th 12:30 –1:45 p.m.
DeBartolo Hall – Room #358
Instructor:
Office:
Phone:
e-mail:
website:
Albert J. Sumell
314 DeBartolo
(330) 941-1678
ajsumell@ysu.edu
http://www.as.ysu.edu/~ajsumell
Note: If you need to contact me for any reason please do so by e-mail.
Prerequisites: ECON 2610 – Principles of Microeconomics
Office Hours: 10:45 – 11:45 a.m. Tuesday and Thursday, 12:45 – 2:45 p.m. Wednesday, or
anytime by appointment.
Course Description and Objectives:
Economics is the study of choice under conditions of scarcity. The study of Economics should
help you to better understand your world – whether it’s major world news that affects everyone or
minor choices that you make everyday that only affect you. While microeconomics focused on
the choices of individuals and firms, in this course we will study choices that affect the economy
as a whole. Many of the same concepts studied in microeconomics are relevant (supply and
demand, opportunity cost, etc.) but these concepts will be placed in the context of the overall
economy rather than individual markets. We will study basic macroeconomic concepts such as
inflation and unemployment, and discuss the current macroeconomic situation of the U.S.
economy and other nations. Furthermore, we will discuss the ability of government policymakers
to affect growth, unemployment and inflation by analyzing various fiscal and monetary policy
measures. If you come to class, pay attention, and study outside of class, by the end of the
course you will be:
-able to explain and apply fundamental macroeconomic concepts such as gross domestic product,
economic growth, recessions, etc.
-understand how the choices of fiscal and monetary policymakers affect the economy and social
welfare.
-better informed on and better equipped to analyze a wide range of policy issues.
-better prepared for (and excited about) more advanced/specialized classes in economics.
Required Materials:
McConnell, Brue, and Flynn. Macroeconomics. 19th Edition. McGraw-Hill.
Sapling online homework/learning system. Registration instructions included on last page
Texts packaged with Sapling can be purchased at the bookstore (we have special pricing) or
online.
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Basis for grading:
-
Online Assignments : 10%
Quizzes: 10%
Attendance/Participation: 5%
1st Midterm: 25%
2nd Midterm: 25%
Final Exam: 25%
The exams will be in-class, and I hope to spend a portion of the class before the exam reviewing
concepts that you will be asked on the exam. Exam make-ups will be given before the final exam
only for valid reasons (sleeping, forgetting and/or “not knowing” are not valid reasons). If you
miss an exam, you must contact me within 24 hours of the exam either via e-mail or phone
to have any possibility of being given a make-up exam. Study guides with practice questions
will also be posted on the class website prior to each midterm. The final exam will be
comprehensive, but will focus on the material after the second midterm.
There will be approximately 10 quizzes which will generally be given approximately once per
week on non-exam weeks in the beginning of class and will last 10-15 minutes. If you miss a
quiz you will receive a zero, regardless of the reason. There are no make-up quizzes, no
exceptions. Your lowest quiz grade will be dropped at the end of semester, such that missing
one quiz will not directly impact your grade. There will be approximately 6 assignments, each
which will be posted on the Sapling course website at least 2 days before it is due. The primary
purpose of the quizzes and assignments is to ensure you are keeping up with the material covered
and are prepared for the exams.
Attendance is not mandatory, in that I will not directly subtract points from your grade if you
miss class. However, consistent attendance is the single most important requirement to doing
well in the class.
Rules: NO CHEATING on exams or quizzes. I take this very seriously. If you are caught
cheating in anyway (such copying from another student’s exam, using a cheat sheet, texting etc.)
you will be given an F for the course and an academic misconduct report will be filed with the
University. Refer to YSU’s Undergraduate Bulletin for University procedures and policies
regarding academic misconduct.
You are expected to conduct yourself in class in such a way that will not detract from other
students’ ability to pay attention in anyway. This includes no loud talking or cell phone usage
(including texting).
You are responsible for all work missed during class regardless of the reason. If possible, it is
best to make a copy of another student’s lecture notes from any missed class. You should also
check the class website and the Sapling course website to see if something new has been posted.
If you must leave class early please let me know before class begins.
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Final grades for the course will be based on the following standard scale:
Grading Scale
100-90%
A
89-80%
B
79-70%
C
69-60%
D
Below 60%
F
Final Grades may be curved as deemed appropriate at the end of the semester.
Statement Regarding Disabilities:
Anyone requiring special adaptations or accommodations should inform the instructor as soon as
possible. In accordance with University procedures, if you have a documented disability and
require accommodations to obtain equal access in this course, please contact the Office of
Disability Services (phone: 330-941-1372) in the Center for Student Progress at the beginning of
the semester or when given an assignment for which an accommodation is required. Students
with disabilities must verify their eligibility through the Office of Disability Services. CSP
Disability Services is located at 275 Fifth Ave.
The Center for Student Progress/Supplemental Instruction:
The Center for Student Progress is a resource on Campus established to help students successfully
complete their university experience. Please phone (330) 941-3538 or visit the Center for
assistance in tutoring or for individualized assistance with social and academic success. The
main Center is located in Kilcawley West below the bookstore.
Corrine Bocci will be your Supplemental Instruction leader, and will hold multiple review
sessions every week. You are strongly encouraged to attend as many review sessions as possible.
Preliminary Schedule (Subject to Changes):
1/14 – 1/16:
1/21 – 1/23:
1/28 – 1/30:
2/04 – 2/06:
2/11 – 2/13:
Chapters 1-3: Intro / Review / Fundamentals
Chapter 6 - 7: Intro to Macroeconomics/Gross Domestic Product
Chapter 8: Economic Growth
Chapter 9: Business Cycles, Unemployment, and Inflation
Wrap up/Midterm 1
2/18 - 2/20:
2/25 – 2/27:
3/4 – 3/6:
3/11 – 3/13:
3/18 –3/20:
3/25 – 3/27:
Chapter 10: Basic Macroeconomic Relationships
Chapter 11: Aggregate Expenditures (Keynesian) Model
Chapter 12: Aggregate Demand and Aggregate Supply
Spring Break
Chapter 13: Fiscal Policy, Deficits, and the National Debt
Wrap up/review/Midterm 2
4/1 – 4/3:
4/8-4/10:
4/15 – 4/17:
4/22 – 4/24:
4/29 – 5/1:
Chapter 14:
Chapter 15:
Chapter 16:
Chapter 17:
Chapter 20:
Money and Banking
Money Creation
Monetary Policy
Financial Economics
International Economics
Final Exams: Tuesday, 5/6, 3:15 – 5:15
Note: 3/27 is the last day to withdraw and receive a “W”
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