UNIVERSIDAD DE ESPECIALIDADES ESPÍRITU SANTO
FACULTAD DE ESTUDIOS INTERNACIONALES
SYLLABUS
ENGLISH VERSION
FOR DAC 11 VER 12 03 09
COURSE: Macroeconomics I
FACULTY: Frank Alache Vasquez
# CONTACT HRS: 48 H
YEAR: 2009
DAYS: Mon-Thursday
ROOM # : TBA
CODE: UECO 222
CREDITS: 3 UEES
NON CONTACT HOURS: 96H
PERIOD: Fall II
SCHEDULE: 7:30 – 8:50
DATE: Oct 5, 2009
1. COURSE DESCRIPTION
This course offers the study of economic events that affect companies and
individuals throughout their interactions. Some of the topics to be discussed
include Gross Domestic Production (GDP), Price functioning, Income levels,
Money and Banking, Economic Growth, Business Cycles, Aggregate Supply
and Aggregate Demand, Inflation, Unemployment, Recessions, Economic
Booms, Fiscal and Monetary-policy, Budget deficits, International trade, and
Exchange rates.
2. JUSTIFICATION
To help students, regardless of the area of professional interest, to master
the principles for understanding the economizing problem, specific
economic issues, and policy alternatives.
3. OBJECTIVES
a. General
Upon completion of this course, each student will have a better
understanding of basic macroeconomic theory and will be able to deal with
topics such as the Economizing Problem, National Income Determination,
Price levels, Economic Growth and Instability, Unemployment, Inflation,
Fiscal and Monetary policies.
b. Specific
 Evaluate the measures used to indicate the nation’s economic health
 Comprehend the nature of money and our monetary system
 Examine how monetary and fiscal policies are used to solve
fluctuations- inflation, unemployment, and budget results in the
economy.
4. COMPETENCIES
Upon completion of the course, students should have developed skills to
gather, interpret, analyze, summarize and apply relevant information
applicable in the business world, government environment as well as at the
personal level.
5. COURSE CONTENT OUTLINE
DA
TE
28/10
29/10
SPECIFIC
COMPETENCIES
CONTENT
NON CONTACT
(96 HRS.)
PERFORMANCE
INDICATORS
Introduction, overview
of the course
The student (S)
The Nature and Method
understands economics of Economics(1)
as a social science
McConnell, (2005).
Pages 3-21
SQ 4, 8, 10, 11, 12
The S defines
economics
The S differentiates
between micro and
macroeconomics
02/11
HOLIDAY
03/11
HOLIDAY
04/11
The S defines the
economizing problem
The Economizing
Problem (2)
McConnell, (2005).
Pages 22-38
SQ 4, 5, 6, 9, 10, 11
The S illustrates
economic growth
05/11
The S identifies the
The US in the Global
four types of flows that Economy (6)
link the US economy
with the economies of
other nations
McConnell, (2005).
Pages 91-109
Gives examples of
the types of flows
SQ 4, 6, 10
Names three of our
principle imports and
exports
The S describes the
pattern of US exports
and imports of goos
and services
The S understands the
principles of
comparative and
absolute advantage
09/11
QUIZ 1
Chapters 1, 2, 6
Turn in SQ for Chapters
1, 2, 6
10/11
The S states the
purposes of national
income accounting
Measuring Domestic
Output, and National
Income (7)
McConnell, (2005).
Pages 112-130
SQ 3, 8, 11, 12
The S understands why
changes in inventories
are investments and
discusses the
relationship between
net investment and
economic growth
Lists the components
of GDP in the output
(expenditures)
approach and in the
the income approach
Computes GDP using
either the
expenditure or
income approach
when given national
income data
Calculates a GDP
price index using
simple hypothetical
data and finds real
GDP by adjusting
nominal GDP with
use of a price index
11/11
The S defines two
measures of economic
growth
Introduction to Economic McConnell, (2005).
Growth and Instability
Pages 131-151
(8)
SQ 2, 4, 6, 8, 11
The S understands why
growth is a desirable
goal
The S defines inflation
and identifies
unemployment natural
rate
12/11
Quiz 2
Chapters 7, 8
Turn in SQ for Chapters
7, 8
16/11
The S determines GDP
Basic Macroeconomic
Relationships (9)
McConnell, (2005).
Pages 152-170
The S describes reasons
for the instability in
investment spending
The S finds equilibrium
level of GDP and
understands
disruptions of it
Identifies probable
causes of business
cycles
Explains the effect
on capital and
consumer durable
goods and on
nondurable goods
industries of business
cycles
The S explains what is
meant by a business
cycle and its phases
The S differentiates
between the average
and marginal
propensities to
consume (and save)
Identifies two main
sources of growth
Recognizes,
constructs, and
explains the
consumption, saving,
and investment
schedules
SQ 5, 7, 8, 9
Identifies the
determinants of the
location of the
consumption and
saving schedules
Identifies the
determinants of
investment and
constructs and
investment demand
curve or schedule
Explains verbally
and graphically the
equilibrium level of
GDP
17/11
The S describes and
defines the multiplier
effect
The Aggregate
Expenditure Model (10)
McConnell, (2005).
Pages 172-192
SQ 2, 9, 12, 13
The S understands the
relationships between
the multiplier and the
MPS and the MPC
The S realizes the
consequences of
changes in exports,
imports, government
purchases, personal
taxes on equilibrium
GDP
18/11
The S defines
aggregate demand and
aggregate supply
Aggregate Supply and
Aggregate Demand (11)
McConnell, (2005).
Pages 193-210
SQ 4, 5, 6, 7
The S understands why
the shape of the
aggregate demand
curve slopes downward
The S understands why
the shape of the
aggregate supply curve
slopes upward
19/11
Fiscal Policy (12)
McConnell, (2005).
Pages 214-230
SQ 2, 3, 7, 10
23/11
MIDTERM
24/11
Going over MIDTERM
AND GRADES
25/11
Emphasis placed on
Chapters 9, 10, 11, 12
Turn in SQ for
Chapters 9, 10, 11, 12
Money, and Banking
(13)
McConnell, (2005).
Pages 232-251
SQ 4, 6, 7
26/11
How Banks and Thrifts
create money (14)
McConnell, (2005).
Pages 252-267
SQ 2, 4, 8, 13
30/11
Quiz 3
Chapters 13, 14
Turn in SQ for Chapters
13, 14
Explains the effects
of changes of the
Aggregate
Expenditures
components on the
Equilibrium GDP
1/12
Monetary Policy (15)
2/12
McConnell, (2005).
Pages 268-290
SQ 2, 3, 6, 8
3/12
Extending the Analysis of McConnell, (2005).
Aggregate Supply (16)
Pages 292-307
SQ 3, 4, 6, 7
7/12
Quiz 4
8/12
Chapters 15, 16
Turn in SQ for Chapters
15, 16
Economic Growth (17)
McConnell, (2005).
Pages 308-324
9/12
SQ 1, 5, 6, 8
10/12
Disputes over Macro
Theory and Policy (19)
14/12
McConnell, (2005).
Pages 338-354
SQ 1, 3, 6
15/12
Essay Writing
16/12
Essay Assignment Due
Studying for Final
17/12
FINAL
Emphasis placed on
Chapters 17, 19
21/12
Going over the Final
Examination
End of Class
Turn in SQ for
Chapters 17, 19
6. METHODOLOGY
The learning method involves a mix of interactive lectures, class discussions,
analysis of reading material, individual research, writing of essays, and
group or individual presentation of class material.
Students are expected to come to class prepared and to actively contribute
to class discussion, which includes asking and answering questions,
interventions, expositions, comments, etc. The evaluation for class
participation will be based on the quality (not quantity) of interaction of the
student.
Each project or homework will be turned in at the beginning of class (within
the first 10 minutes). Late work will carry a 30% penalty and will only be
accepted at the beginning (within the first 10 minutes) of the next class
session. Essays must be typed.
Starting on the second week of class, each student (by alphabetical order)
will be required to bring to class a current or recent news/event related to
the material being discussed in class; it is highly recommended that the
student prepares this thoroughly as entirely reading from the news source
will most likely result in points taken off. Remember you are in an
institution of higher learning now and this should be reflected in the type of
work that you hand in. A one to two page short essay will also need to be
turned in along with input and recommendations from the student on how to
tackle the problem or incite interest for further inquiries.
A 6 to 8 page essay will be due before finals. Directives for this assignment
will be given in class.
Paraphrasing is acceptable, but if a student makes reference to a given
paragraph or article, proper documentation of such readings must be
included in the students' papers, projects, etc.
If a student shows up 5 minutes after the scheduled class time, the student
will be considered late for roll purposes. If you find yourself constantly
exiting and coming back to class, please look for a seat close to the door.
7. ASSESSMENT
7.1 Assessment Criteria
 Class participation
 Homework
 Research
 Essay
7.2 Performance Markers
 Identifies Macroeconomics indicators.
 Identifies Macroeconomics issues.
 Carries on economic research.
7.3 Weighting
Class Participation:
Quizzes:
Home Assignments:
Midterm exam:
Final Exam:
33.3%
33.3%
33.3%
100%
100%
8. BIBLIOGRAPHY
8.1 REQUIRED
Economics, Campbell R. McConnell & Stanley L Brue, McGraw-Hill,
16th Edition, 2005
“Globalization and its Discontent” by Joseph Stiggler
8.2 COMPLEMENTARY
Alan Greenspan's “The Age of Turbulence”
8.3 HANDOUTS:
TBA
8.4 WEBLIOGRAPHY:
EBSCO DATABASE
9. FACULTY INFORMATION
NAME: Frank Alache
ACADEMIC CREDENTIALS
UNDERGRAD:
Bachelor of Science International Economics, Florida Atlantic University (FAU)
GRADUATE:
Master of Science International Economics, FAU
Region of Studies: Latin America
E – mail: frankilino68@hotmail.com
Phone: 2-401-461
Prepared by:
Frank Alache
Reviewed by: Dean Mónica Reynoso
Date:
October 5, 2009
Date:
October 5, 2009