ECON 104 (Section 002)
PRINCIPLES OF MACROECONOMICS
University of Wisconsin - Milwaukee, Spring 2004
BUS S195 – MW 4:00 – 5:15
Syllabus
Filip Vesely
E-mail:
Web page:
vesely@uwm.edu
go.to/econ or
http://www.uwm.edu/~vesely/
Overview
The purpose of Economics 104 is to provide basic
facts and framework used to understand the issue of
Macroeconomics.
We have many topics to cover and most the topics
built on previous topics. Thus, it is extremely important to
keep up to date in the class. Every hour spent learning the
material now will save you countless hours of confusion
and frustration in the future.
Required Text
Bade & Parkin (Pearson Addison-Wesley):
Foundations of Macroeconomics (2nd edition)
Exams
Midterm 1
Midterm 2
Final Exam
– Monday 2-28-05
– Monday 4-11-05
– Wednesday 5-18-05, 3:00-5:00 PM
To be accepted, any conflict or other reason for
missing the exams must be brought to my attention in
advance or/and as soon as possible.
Students will be required to bring an official photo
identification card (e.g, a student ID card) to midterm and
final exams. In addition, each student should also bring a
pencil to the exam room. Calculators will not be needed and
use of calculators during exams or quizzes will not be
permitted.
Quizzes
In about every second week a short (15-20 minute) quiz
will be given at the end of the class period. There will be
about five quizzes. Although no make-ups will be given for
missed quizzes, only the best four quiz scores will be used for
the calculation of the of the final grade.
Assignments and Grading:
Your grade in this course will be determined entirely by
the number of total points you accumulate from the quizzes,
midterms and final exam. Cheating will not be tolerated and at
a minimum will result in an F grade for the exam in question.
Other university sanctions may also be applied. You cannot
do work for extra credit and raise your grade. You cannot
Office:
BOL 812
Office Hours: MW 2:15 – 3:45
Phone:
229-4910
take a make-up exam unless you have made prior
arrangements or have an excused absence.
If you miss a quiz, midterm or final exam due to illness
or a recognized university function, provide a written excuse
from your physician or the appropriate university official and
make-up or other suitable action will be arranged. In case of
important personal reasons, advanced consultation is required.
Also, any student requiring special conditions (such as a
quiet test environment or extra time) during a quiz or exam,
must notify me within 3 weeks after the beginning of the
course. If no advance notification is made, you will take the
quiz or exam along with everyone else.
Each of the components of the semester grade will be
weighted as follows:
Quizzes (4 x 5%)
20 %
Midterm 1
20 %
Midterm 2
20 %
Final Exam
30 %
Class Participation
10 %
USING AND MAKING GRAPHS:
DATE
#
01-24
1
Overview, Making and using Graphs (Chapter 1 – Appendix)
01-26
2
Chapter 1 – Getting Started (Definitions, Methodology, Ideas)
01-31
3
Chapter 2 – Circular Flow of expenditures and incomes
02-02
4
Chapter 5 – GDP, Nominal GDP vs. Real GDP
02-07
5
Chapter 5 – GDP, Nominal GDP vs. Real GDP
02-09
6
Chapter 7 – Inflation, CPI
02-14
7
Chapter 7 – Inflation, CPI; Quiz 1 (Chapters 1,2,5)
02-16
8
Chapter 6 – Jobs and Unemployment
02-21
9
Chapter 10 – Economic Growth; Quiz 2 (Chapters 6,7)
02-23
10
Review for Midterm I
02-28
11
MIDTERM I (Chapters 1,2,3,4,5)
03-02
12
Chapter 3 – Production Possibility Frontier, Opportunity Costs, Specialization
Midterm Solution
03-07
13
Chapter 3 – Production Possibility Frontier, Opportunity Costs, Specialization
03-09
14
Chapter 4 – Demand and Supply; Quiz 2 (Chapters 10, 3)
03-14
15
Chapter 4 – Demand and Supply;
03-16
16
Chapter 8 – AS-AD Model;
SPRING BREAK
03-28
17
Chapter 8 –Potential GDP, Natural Unemployment, AS-AD Model
03-30
18
Chapter 9 – Investment and Savings; Quiz 3 (Chapters 4, 8)
04-04
19
Chapter 9 – Investment and Savings;
04-06
20
Review for Midterm II
04-11
21
MIDTERM II (Chapters 1-6,7,8,9,10)
04-13
22
Chapter 11 – Money & Monetary system;
Midterm Solution
04-18
23
Chapter 11 – Money & Monetary system
04-20
24
Chapter 12 – Money Creation and Control; Quiz 4 (Chapter 11)
04-25
25
Chapter 13 – Money, Interest and Inflation (Quantity Theory of Money);
04-27
26
Chapter 14 – AS-AD
Chapter 15 – Expenditure Plans and Real GDP
05-02
27
Chapter 15 –Expenditure Multiplier; Take Home Quiz 5 (due on 05-09);
05-03
28
Chapter 16 – Fiscal Policy and Monetary Policy
05-09
29
Chapter 18 – Policy Debates
05-11
30
Review for the Final Exam (Chapters 1-10,11,12,13,14,15,16,18)
05-18
FINAL EXAM (3:00-5:00pm)