ECN 326- 201 Intermediate Macroeconomic Analysis
Marshall University, Spring 2015
Name: Dr. Yuanyuan (Catherine) Chen,
Assistant Professor of Economics
Office: CH 262
Phone: (304) 696-2827
Course Schedule: MW230pm - 345pm
Classroom: CH 464
Office Hours: MW 12:45-2:30pm, 3:50pm5:05pm or by appointment
Email: chenyu@marshall.edu
REQUIRED MATERIALS
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Handouts on MUonline by Dr. Yuanyuan (Catherine) Chen
SUGGESTED TEXTS, ADDITIONAL READING, AND OTHER MATERIALS
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Macroeconomics, R. Glenn Hubbard & Anthony P. O’brien, 4th Ed. Publisher:
Prentice Hall
Macroeconomics, Robert J. Gordon. 12th Ed. Publisher: Addison-Wesley
Money, Banking, and the Financial System R. Glenn Hubbard & Anthony P.
O’brien, 2nd Ed. Publisher: Prentice Hall
CATALOG COURSE DESCRIPTION AND PREREQUISITES
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Course description from the catalog: Advanced study of the national economy
as a whole. The main topics focused on are: Economic growth, unemployment,
inflation, international monetary and financial relations, and macroeconomic
policy activity.
Prerequisites: ECN 253 -- Principles of Macroeconomics, and ECN 250 –
Principles of Microeconomics
EXPANDED COURSE DESCRIPTION
ECN 326 Intermediate macroeconomic analysis, serves as a higher-level course for those who
show interests in macroeconomic theories and applications. This course studies topics of
aggregate economies. It will help you to analyze miscellaneous economic events and policies
nationally and internationally.
COURSE LEARNING OUTCOMES:
During this course, you will:
1. become familiar with the language of economics variables that are used around the world
in daily news, newspapers, and important economic events.
2. learn how to utilize comprehensive graphs to illustrate monetary policies, fiscal policies
developed by policy makers as well as economists.
3. become familiar with the models in aggregate terms embodied in monetary, fiscal, and
exchange rate policies.
4. infuse your analysis using AD-AS model from ECN 253 with a more standard IS-LM
model that has been used in upper-level macroeconomic analysis.
COURSE CONTENT AND TENTATIVE SCHEDULE
Objectives
General Introduction
Basic Macroeconomic
Analysis
Macroeconomic Models and
Methods
Policy Analyses
Chapters
N/A
1
Topics
Introduction to the Class
Macroeconomic Fundamentals
2
3
4
5
6
AD-AS Model
IS- LM Model
Monetary Policy
Fiscal Policy
Exchange Rate Policy
TENTATIVE DUE DATES, EXAM DATES, AND HOLIDAYS (subjected to changes)
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Exercise due dates: (Exact schedule is subject to changes)
It is very important to know that although the homework assignments are distributed on
MUonline , they MUST be turned in in the form of hard copies by due dates in the class!
Submissions via MUonline are NOT going to be graded and therefore will get a ZERO
grade.
All exercise due dates are to be announced in the class! Mark them immediately on
your calendar!
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Exam Dates: Exam 1---Mar 2(Planned)
Exam 2---Apr 27(Planned)
Final Exam---May 4(12:45-2:45)
Notice that the final exam time is different from our usual class-time!
Study Dates: Exam 1--- Feb 25 (planned)
Exam 2--- Apr 22 (planned)
Exam Review Dates: Exam 1---Mar 4(planned)
Exam 2---Apr 29(planned)
Essay Submission Dates: Essay 1---Feb 9
Essay 2---Feb 23
Essay 3---Mar 25
Essay 4---Apr 6
Essay 5---Apr 20
Dates without classes: Jan 19--- Martin Luther King, Jr. Holiday (University Closed)
Mar 16~ 21--- Spring Break (Classes Dismissed)
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b.
c.
d.
Other Important Days you may find helpful:
Jan 12~ 16--- Late registration/schedule adjustment (add-drop)
Jan 16--- Last day to add classes
April 27~ May 1--- Dead week
May 1--- Last day to completely withdraw from spring semester
COURSE REQUIREMENTS AND GRADING POLICY
Grading Scale
A
539~600
B
479~538
D
359~418
C
F
No shading grade will be provided.
419~478
< 358
Your final grade comprises five main parts: exam 1, exam 2, final exam, exercises, and essays.
Your overall grade is distributed as follows:
Exam 1
100
Exam 2
100
Final Exam
100
Exercises
200
Short Essays
100
Final
600
• Exams: Three exams, two mid-term exams and one final exam, are distributed in this
semester. Tentative dates are listed above. These exams provide appropriate guide for
the final exam which include all contents throughout the semester. The mid-term exam is
100 points each and the final exam is also 100 points. As stated below, exams are not
available for makeup. To enhance student to understand the chapters and to prepare for
the exam, when an objective is to be finished, the instructor will provide study guide for
each exam on the class date before the exam date. On that day, students are allowed to
review the contents and study as convenient as they like. They can study in the library, in
the classroom, or even at home. After each mid-term, there will be one day class to
review the exam, which is resigned to strengthen the weak points for the students for that
these mid-terms guide for the final exam. But all these steps do not guarantee the students
to gain high points in the exams!
• Exercises: There will be only SIX exercises companying each chapter. The exercises will
be given out at the beginning of the section (objective) and the due dates are to be
announced in the class! The instructor suggests students to finish it progressively; it will
reduce the burden if you complete it one the day before due dates. There will be only one
exercise dropped to calculate your overall points! Each exercise takes 40 points, which
almost reach the points for a mid-term exam!
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Term Essay: The individual essays are supposed to be completed and submitted by the
essay submission dates. There are five essay topics accompanying each main chapter
except chapter 1. Different from the requirements of both exams and exercises, this part
is designed to motivate students for multiple ideas, logics, ways of thinking that can be
either in line with what have been taught in the class or not. In other words, it is a
brainstorm game! So please grasp it! The criteria are to be given out during the class. For
example, no students should have the same content! That is definitely a plagiarism.
Instructors may provide possible topics for you to select, but you can choose others.
Essay have to been submitted in person with hard copy. Each essay is 20 points.
Each portion of your overall grade can be found on http://muwwwnew.marshall.edu/muonline/
(Note that some categories may not be reflected on
MUOnline due to the systematic issues, they will show by the end of the semester)
The final result of your grade will be posted on http://mymu.marshall.edu/
For missing exams/essay/exercises, please see policies below.
ATTENDANCE POLICY
This class encourages students to attend class. A responsible and mature student is expected to
attend class. There may be times when the student is not able to attend class. The instructor may
occasionally check attendance and it will not be included in your final grades as a main category.
But, due to the performances of the students, attendance may be added to your final grade as
bonus points. The instructor may decide not to scale exams for those who have more than one
unexcused absence or tardiness between exams. Scaling is completely at the discretion of the
instructor.
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A missed exercise: to be accepted, an exercise must be turned in on time. It is very
important to know that although the exercises are distributed on MUonline , they MUST
be turned in in the form of hard copies by due dates in the class! Submissions via
MUonline are NOT going to be graded and therefore will get a ZERO grade. There will
be no make-up opportunities for them.
A missed test: If a student misses an exam, he/she will receive an incomplete grade for
the course. The incomplete grade may then be completed as regulated by University
policy. This will require completing extra material in the following semester. To avoid
this problematic situation, a student is strongly encouraged to attend tests on-time. The
tests will NOT be given online! Again, since all the exams are given online, there will be
no exceptions or no make-up exams. If you cannot make the test on that day for
officially-taken reason, please notify the instructor one week prior to the exam.
A missed essay: If a student is not able to submit the essay, the 100 points will be
reduced from his/her final grade. This part takes 100 points out of 600. Late submission
will cause points reduction! It is very important to know that although the essay topics
are distributed on MUonline, they MUST be turned in in the form of hard copies by due
dates in the class! Submissions via MUonline are NOT going to be graded and therefore
will get a ZERO grade.
A Note about Text Messaging, Web Surfing and Grades: Text messaging and noncourse-related web-surfing are not appropriate during class time. It disrupts the attention
of the other students and the instructor. In the case of emergencies it is OK to take and
send text messages. But please first ask for permission to leave the classroom, and then
text outside of the room. The instructor will take note of students who are texting or
inappropriately web-surfing. The instructor will deduct 2 points from the Final Semester
Score for each infraction.
UNIVERSITY POLICIES (Please read carefully!)
By enrolling in this course, you agree to the University Policies listed below. Please read the full
text of each policy be going to www.marshall.edu/academic-affairs and clicking on “Marshall
University Policies.” Or, you can access the policies directly by going to
http://www.marshall.edu/academic-affairs/?page_id=802 Academic Dishonesty/ Excused
Absence Policy for Undergraduates/ Computing Services Acceptable Use/ Inclement Weather/
Dead Week/ Students with Disabilities/ Academic Forgiveness/ Academic Probation and
Suspension/ Academic Rights and Responsibilities of Students/ Affirmative Action/ Sexual
Harassment.
HOW THE COURSE LEARNING OUTCOMES WILL BEPRACTICED AND
ASSESSED
Course Learning Outcomes
How Practiced in this Course
Become familiar with the language of Question and Answer sessions after
economic variables that are used the material is presented based on
around the world to define, measure, Chapters 1, 2&3.
monitor, and evaluate a country’s
overall
economic
performance.
Understand how to use the standard
analytical models (AD-AS model/ ISLM model) to analyze economic
events and to interpret changes in
aggregate economic variables.
How
Assessed in
this Course
Exam I
Understand
the
fundamental Question and Answer sessions after
expressions of important economic the material is presented based on
policies(monetary policy, fiscal policy, Chapters 4, 5&6.
and exchange rate policy). Know how
to use the standard model(s) to
translate these policies via graphs.
Exam II
Learn how to use macroeconomic and
financial knowledge to:
Exam I, II,
and Final
Exam
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understand the recent
economic performance
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evaluate alternative proposals
for improving upon this
Question and Answer sessions after
the material is presented based on
Chapters 1,2,3,4,5, and 6.
performance
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understand and critically
evaluate discussions of
economics and economic
policy in various media
publications.
Learn how to use intermediate
macroeconomic analysis to:
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practice and improve economic
writing skills
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explore recent news and
policies based on your
knowledge
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motivate multivariate ways of
thinking the same headlines
when viewing others’
comments
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conduct experiential techniques
for future work
Use the designated topic along with
each chapter to write a short essay.
Short essays
1,2,3,4 and 5