Economics 1002H Macroeconomics
Baruch College - Zicklin School of Business – Spring 2011
Mon. – Wed. 2:30-3:45 P.M.; Room VC 9 -130 ; Section TV13H; Code 2261.
Professor Michael Carew; xt. 3488; e-mail Michael.Carew@Baruch.cuny.edu
Office Hours: Tues. & Thurs. 9:30- 5:00 or by appointment Room VC10-293
Purpose: This course is offered as part of the Baruch Department of Economics and Finance
program. It is structured to provide the student with a broad appreciation of the concepts and
methodology of Macroeconomics as a context for the technical Economics and Finance curriculum.
This course examines national output and income; equilibrium in the economy; employment and
prices; fiscal, monetary and industrial policy formulation and their related issues. This course will
view Macroeconomics through the lens of the American political economy and its global impact.
Students will be expected to present and discuss the readings and current macroeconomic events
and the public discourse concerning those events. It will be geared to students with an adequate
background in economics and an appreciation of the American economy, and is designed to
further their skills and knowledge in integrating economics and finance into their portfolio of
analytical, communication and presentation skills.
Requirements: You are expected to have taken high school mathematics including algebra and
geometry. Course work will comprise one or two chapters of readings for each week as the basis
of class discussion. There will be two examinations (No “Make Ups”) counting 40% each, in total
a minimum of 80% of the final grade. Class participation is strongly encouraged. Each Monday
you may voluntarily turn in a 3 x 5 card with two questions. The best Question Cards will be
selected and can count 10 % of your grade. Class participation in discussion of economics articles
sent to you via E-mail can count 10%. Regular reading and familiarity with current economic
events and issues is strongly emphasized. Students are encouraged to use the Internet sites
suggested and other sites, as appropriate to amplify the readings.
Question Cards should pose at least two original questions each week with specific citations to
the text and readings. Questions that aim to stimulate intelligent class discussion about economic,
historical, ideological, or decision aspects of the texts, or that seek explanation of difficult
passages that you don't immediately understand, will receive the highest marks.
Quizzes: There will be available each week an on-line quiz assigned and evaluated by the APLIA
On Line Resource. They are optional, but their successful (grade of 80%) completion will add to
the student’s understanding. Students wishing to excel or needing additional work are encouraged
to acquire the Internet Access Key that will permit the use of this voluntary facility.
Access Key You are also encouraged to purchase an Access Key for the On-Line Resources APLIA. You may purchase the book anywhere, but it is your voluntary responsibility to purchase
the Access Key.
Texts
1.
N. Gregory Mankiw-Principles of Macroeconomics 5th Ed.
South-Western Cengage Learning, 2009 ISBN -13: 9780324589993
2.
Current Articles for class discussion will be distributed via E-Mail.
Internet: http://www.eh.net/HE/abstracts/, www.economist.com, myeconlab.com
Attendance: Attendance and punctuality are required.
Schedule
Week/Day
1. Monday
Date
#1
January 31
Wednesday #2
February 2
2. Monday #3
Wednesday #4
3.Monday
#5
Wednesday #6
4. Monday
Wednesday #7
5.Monday
#8
Wednesday #9
6. Monday #10
Wednesday#11
7. Monday #12
Wednesday#13
8. Monday #14
February 7
February 9
February 14
February 16
February 21
February 23
February 28
March 2
March 7
March 9
March 14
March 16
March 21
Wednesday#15 March 23
9. Monday #16
Wednesday
10.Monday #17
Wednesday#18
11.Monday #19
Wednesday #20
12.Monday
Wednesday
March 28
March 30
April 4
April 6
April 11
April 13
April 18
April 20
13.Monday
April 25
Wednesday#21 April 27
14.Monday #22 May 2
Wednesday#23 May 4
15.Monday
#24 May 9
Wednesday #25 May 11
16. Monday #26 May 16
Wednesday #27 May 18
Week of May 18
Topic and Discussions
Assignments
I. Introduction :Syllabus, Requirements,
Administration: Introduction to Economics- Review
II. Introduction to Macroeconomics
Growth and Development
Measuring Output and Income
Calculating GDP Real and Apparent
Measuring the Cost of Living
Inflation and Unemployment
N.G.M.Review-Chpts.
1-4
Chapter 6
Chpt. 10
Chpt. 11
- President’s Day College ClosedIII. The Goods and Money Markets
Production and growth
Savings, Investment and the Financial Markets
The Federal Budget; State Budgets
Money and the Banking System
The Basic tools of Finance; Intro to the The "Fed"
The Federal Reserve and the Monetary System
Money and Prices
IV. Macroeconomic Analysis: Money growth and
Inflation
Monetary and Fiscal policy relationships.
-- Mid Term Exam -Labor Markets and Unemployment
Public Policy, Unions and Wages
Aggregate Demand and Aggregate Supply
Equilibrium and Stability
Chpt. 12
Chpt. 13
Chpt. 14
Chpt. 16
Chpt. 17
Chpt. 15
Chpt. 20
---Spring Recess No Class-----Spring Recess No Class-----Spring Recess No Class--Trade off: Inflation vs. Unemployment
The “Trade Off” II
Schumpeter, Friedman and Chandler: The rise of
the Monetarists
V. International Economics: Trade vs. Protection
The Open Economy - Principles
"Globalization", Capitalism and Democracy.
Fiscal & Monetary Policies
Keynes vs. Chicago: The Keynesian Ascendancy
- Review-
--Final Examination--M.G.C.
March 10, 2011
Chpt. 22
Chpt. 22
Readings
Chpt. 18
Chpt. 19
Chpt. 21
Chpt. 23
Student Registration and Payment Instructions
Course Name: Economics 1002H Macroeconomics, Mankiw, Spring '11
Start Date: 01/31/2011
Instructor: Michael Carew
Course Key: XCH4-8FMZ-QF9L
You can begin working on your homework as soon as you register!
• In this course, you will use a textbook and Aplia's website.
• In most cases, you can save money if you buy Aplia and your textbook together. See payment
options below.
• You will have access to a digital version of your textbook using Aplia.
Registration
If you have never used Aplia before...
1. Connect to http://www.aplia.com.
2. Click the Create a New Account link and choose Student Account. You will then enter your
course key:
. Continue following the instructions to complete your registration.
If you have used Aplia before...
1. Connect to http://www.aplia.com.
2. Sign in with your usual e-mail address and password and enter your Course Key when prompted:
. If you are not prompted for a new Course Key, click the Enroll in a New Course button at the top
of your My Courses page to enroll in a new Aplia course. Enter your Course Key when you are
prompted.
* You will have different payment options after you register for your course. If you choose to pay later,
you can use Aplia without paying until 11:59 PM on 00/11/2011.
Payment
Option 1: Digital Textbook with Aplia Access
• From Aplia: Purchase access to your course from Aplia's website for $80.00 USD.
Option 2: Physical Textbook with Aplia Access (also includes digital textbook)
• From Aplia: Purchase access to your course for $80.00 USD and a physical book for $54.00
USD from Aplia's website.
• From Bookstore: Purchase an Aplia Access Card and a physical book together as a bundle
from your campus bookstore.
* If you purchased an Aplia Access Card from a bookstore, enter the Access Card's payment code on
Aplia's website as payment for your Aplia course.
* You will have access to your digital textbook up until the end of this course.
M.G.C.
November 30, 2011