ECONOMICS 104: Principles of Macroeconomics
Spring 2004
Instructor:
Office:
Phone:
E-mail:
Dr. Rose-Marie Avin
Schneider 473
836-4513
avinr@uwec.edu
Office Hours:
Monday:
Tuesday and Thursday:
Wednesday:
10:30-11:30 a.m.
3:30-4:30 p.m.
10:30-12:30 a.m.
and by appointment at any other
time
Welcome to Economics 104. This course introduces you to some important
and useful economic concepts that will help you develop a critical
understanding of society. Macroeconomics tries to explain the ups and
downs of the entire economy; more specifically, it tries to explain why
fluctuations in national output, employment, and the price level occur on a
regular basis. Macroeconomists are, therefore, concerned with developing
policies that can reduce the magnitude of these fluctuations. Of course, these
policies are based on economic theories/models/stories that will be discussed
in depth in this class.
The following chapters in the textbook will be discussed: basic
concepts of macroeconomics (chapters 20, 21), fundamentals of
macroeconomic modeling (chapters 22-24), private-sector components of
aggregate demand (chapter 28), history of macroeconomic thought (chapter
32), and stabilization policies (chapters 26, 27).
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I.
UWEC: THE BACCALAUREATE GOALS
“The University seeks to foster the intellectual, personal, cultural, and social development
of each student. The baccalaureate degree at UWEC provides students with the
knowledge and abilities needed for lifelong learning. In designing the degree, the faculty
expect that graduates will have achieved the following goals:
1.
an understanding of a liberal education;
2.
an appreciation of the university as a learning community;
3.
an understanding of science, the scientific method, and numerical
data;
4.
an appreciation of the arts;
5.
an understanding of values, human behavior, and human
institutions;
6.
the ability to inquire, think, and analyze as well as write, read,
speak, and listen;
7.
historical consciousness;
8.
international and intercultural experiences.”
(University of Wisconsin-Eau Claire, 2003-2004 Catalogue, p. 5)
II.
THE COURSE: GOALS AND OBJECTIVES
In this course you will:
A.
B.
C.
Understand the language used by economists. More specifically you will:
1.
Define economic terms/concepts.
2.
Use economic terms in your economic analysis.
3.
Use graphs and basic algebra to illustrate concepts when
appropriate.
Understand various economic theories/models/stories and their policy
implications. More specifically, you will:
1.
Explain the various assumptions underlying the models.
2.
Use graphs and basic algebra, when appropriate, to illustrate the
models.
3.
Explain the policy implications of each model.
4.
Critically evaluate each model.
Examine each topic from various perspectives. Looking at economic
concepts, theories and policies from different perspectives will give you a
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broader understanding of the social, political and economic reality of our
society.
III.
D.
Relate the models/theories/stories to your personal experience or to the
personal experience of someone you know. More specifically, you will
ask yourselves: “Does the model explain my economic behavior, the
economic behavior of my family, or my friends?”
E.
Analyze the impact of economic policies on personal aspects of your life
or the life of someone you know. More specifically, you will ask
yourselves: “How will this specific policy affect, my family and my
friends?”
F.
Be knowledgeable about current economic events and become a more
engaged citizen. More specifically, you will:
1.
Read various handouts from the New York Times and other
newspapers and magazines.
2.
Discuss handouts.
3.
Write short true/false quizzes on handouts.
BOOKS
Required:
1.
Economics by Timothy Tregarthen and Libby Rittenberg, 2000, second
edition.
Recommended:
2.
Study Guide by John Brock and Dale R. DeBoer, 2000. This study guide
accompanies Tregarthen/Rittenberg’s Macroeconomics , second edition.
IV.
OTHER SOURCES
1.
The Worldly Philosophers, by Robert Heilbroner, 1999, revised seventh
edition (ON RESERVE IN THE LIBRARY).
2.
The New York Times (RECOMMENDED).
3.
Various handouts.
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V.
PERFORMANCE EVALUATION
Your grade will be based on:

Three exams. The first 2 exams consist of multiple-choice questions,
exercises/problems, and one long essay. The third exam consists of multiplechoice questions and exercises/problems.

Four chapter quizzes. The chapter quizzes will consist of exercises and/or
problems from specific chapters. There is NO MAKE-UP for missed quizzes.
Five chapter quizzes will be given during the semester but only 4 will count
toward your course grade. You get to drop the chapter quiz with the lowest grade.

Six current event quizzes. The current event quizzes will come from specific
articles assigned from the New York Times. There is NO MAKE-UP for missed
current event quizzes. Seven current event quizzes will be given but only six will
count toward your course grade. You get to drop the current event quiz with the
lowest grade.
Exam #1
Exam #2
Exam #3
4 chapter quizzes (25 points each)
6 current event quizzes
Weight
100 points
100 points
100 points
100 points
60 points
Total 460 points
Grades will be determined according to the following grading system:
A = 94-100%
C = 73-76%
A- = 90-93%
C- = 70-72%
B+ = 87-89%
D+ = 67-69%
B = 83-86%
D = 63-66%
B- = 80-82%
D- = 60-62%
C+ = 77-79%
F = below 60%
ATTENTION:
Students will have an opportunity to earn a MAXIMUM of 16
EXTRA CREDITS in participating in an out-of-class activity
(worth 10 points) and in doing short in-class assignments (worth 6
points). There is no make-up for missed EXTRA CREDIT
assignments. (See the last page of the syllabus for more
information.)
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VI.
POLICY ON MISSED EXAMS
Exams must be taken as scheduled. If you think that you have a SPECIAL case,
you need to schedule an appointment and discuss it with me before the scheduled
exam, but I strongly discourage missing exams. As stated above, there is NO
MAKE-UP for missed quizzes.
VII.
HOMEWORK
Problems and exercises will be assigned from the Study Guide. They are not
required but doing them will help you understand the material better.
VIII. ATTENDANCE
Class attendance is voluntary. Attendance will normally be taken at each class
session and regular attendance is expected. Attendance will not play a major role
in grade determination, but could be a factor when grades are borderline.
IX.
ACADEMIC DISHONESTY
It will no be tolerated. If a student is guilty of academic dishonesty, a score of
zero will be given to the work in question. In addition, a letter will be sent to the
Dean of Students notifying him/her of the misconduct.
X.
DO’S AND DON’T
Do:
1. Take advantage of my office hours. Please feel free to see me
for help.
2.Ask questions in class. We can learn from exchanging ideas.
3.Read assigned chapters before class.
4. Be prepared to discuss homework assignment.
Do not
1. Always be late for class. If you have difficulty being on time
because of another class, please inform me.
2. Leave the classroom in the middle of lecture. If you have to
leave early because of circumstances beyond your control, please
let me know.
3.Consistently chat with the person next to you.
OTHER IMPORTANT INFORMATION:
If you have a disability and are in need of classroom accommodations, please let me
know and also contact the Office of Services for Students with Disabilities (Schofield
201, phone: 836-4542).
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XI.
COURSE OUTLINE, ASSIGNED READINGS AND HOMEWORK
A.
B.
C.
What is Economics?
1.
Introduction
2.
Economics: The Study of Choice?
Macroeconomic Concepts
1.
Topics of Macroeconomics
2.
Chapter Quiz #1 on chapter 20
3.
Measuring Total Output and Income
4.
Chapter Quiz #2 on chapter 21
5.
Video: If Women Counted
Fundamentals of Macroeconomic Modeling
1.
Aggregate Demand (A.D.) and
Aggregate Supply (A.S.)
Chapter Quiz #3 on AD/AS
EXAM #1:
D.
4.
A Brief History of Macroeconomic
Thought and Policy
The Keynesian Model
5.
Chapter Quiz # 4 on chapter 28
EXAM #2:
E.
EXAM #3:
Ch. 22, Study Guide
Ch. 9 of Heilbroner
(On Reserve)
Chapter 32 (pp. 638642)
Ch. 28 (pp. 555570), Study Guide
and Handout
THURSDAY, APRIL 15
Monetary and Fiscal Policy
1.
Nature and Creation of Money
2.
Monetary Policy and the Fed
3.
Ch.20, Study Guide
(pp. 55-62, 64-66)
Ch. 21, Study Guide
(pp. 67-75, 78-79)
THURSDAY, MARCH 4
Private Sector Components of A.D.
1.
Video: John Maynard Keynes
2.
John Maynard Keynes
3.
Read Preface
Ch.1 (pp. 1-7) and
handout
Chapter Quiz #5 on chapter 24 or 26
Government and Fiscal Policy
Ch. 24, S. G.
Ch. 26 (pp. 511-522),
and S.G.
Ch. 27, S. G.
WEEK OF FINAL EXAMS
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OTHER IMPORTANT DATES:
1.
January 30:
Last day to register for or add full-semester or first-half
classes;
2.
February 6:
Last day to drop full-semester courses with no record of
enrollment;
Last day to change grade basis (to/from S/U or audit).
3.
March 22-26:
Spring Break
4.
April 9-12:
April Break
5.
April 13:
Last day to file withdrawal from the University with
“Ws”;
Last day to withdraw from full-semester classes with “W”
6.
December 17-21:
Final examinations
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EXTRA CREDITS DURING THE SEMESTER:
During the semester, you will have the opportunity to earn a maximum of 16 Extra Credit
points. The points are assigned as follows:
a)
Six (6) points in doing in-class assignments;
b)
Ten (10) points in participating in an out-of-class activity. The goal
of the activity is to enhance your cultural diversity (ideas,
national and international cultures). The following guidelines
must be followed or no full credit:
1. Information about the paper:
 Length: a minimum of two full pages;
 Format: Write an organized summary of the major points of
the speaker AND discuss what you have learned from the
activity.
 Note: paper should be well-written and grammatically
correct. Otherwise, points will be taken off.
2. The summary has to be typewritten or word-processed using
Times New Roman (12) font and double-spaced with one-inch
left margin.
3. Attach any ticket pertaining to the event to show proof of
attendance.
4. Turn in the assignment one week after the event.
5. The activity needs to be approved by the instructor.
6. Write your name and section number on the front page of
the assignment.
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