UNIVERSITY OF WYOMING
COLLEGE OF BUISNESS
DEPARTMENT OF ECONOMICS AND FINANCE
ECON 1010-02
Principles of Macroeconomics
MWF 09:00 a.m. – 9:50 a.m.
CoB 121
Spring 2013
Instructor:
Office:
Office Hours:
E-Mail:
Anteneh Tesfaw
BU 77 (Basement, west building)
MW 10:00 a.m. – 11:30 a.m. or by appointment
atesfaw@uwyo.edu
Teaching Assistant: Yiran Tan
Office hours:
MW 8:00-9:00 am
E-mail:
ytan1@uwyo.edu
SI:
Kristina M Huston
Office hours:
Monday 12:00-1:00pm
Instructional hour: Wednesday 3:00-4:00Pm
E-mail:
khuston1@uwyo.edu
Prerequisites
None. Students are expected to be comfortable with numbers, graphs and simple
mathematical equations. Students must have access to a computer and internet, in order to
complete homework, quizzes and others.
Course Description
This course is an introduction to an economic way of thinking and analysis. It addresses the
problems of unemployment, inflation, economic growth, and the tools of monetary and
fiscal policy. Ultimately, the goal of the course is not only to enable you to read articles
and listen to arguments, but also to understand the content and evaluate the accuracy of the
economic analysis. By the end of the course you should have developed an understanding
of major economic institutions, the functioning of markets, and the challenges faced in
using policy to influence the levels of unemployment, inflation, and economic growth. You
will be able to build economic models that describe significant parts of our economic
system and to apply those models to current and new events and problems.
The vast majority of the concepts covered in the course will require you to think through
relationships and use the concepts to analyze problems, recommend solutions, and explain
exactly how they might work with the help of simple algebra and graphing techniques.
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Course Objective
To provide students with an understanding of how economies work and how economic
outcomes develop as well as to provide students with tools to analyze current events and
policies that affect macroeconomic variables.
Learning Objectives
Students that successfully complete this course should be able to:
- Explain basic principles of economics and be able to apply economic reasoning to
everyday problems.
- Know the importance and limitations of economic thinking.
- Explain and discuss how economies and macroeconomic variables behave and interact.
- Analyze and predict the effects of economic shocks and the logic behind fiscal and
monetary policies.
- Engage in active discussion about macroeconomics issues.
Required Text:
Macroeconomics, by R. Glenn Hubbard and Anthony Patrick O’Brien, 4th edition.
Required Supplement:
Students must purchase access to MyEconLab (available from the bookstore with the new
textbook or directly from www.myeconlab.com).
ETS Exam:
College of Business students are required to complete a comprehensive assessment during
their senior capstone course, MGT 4800. This test, known as the Major Field Test in
Business is developed by the Educational Testing Service and is given locally in a
computer-based format. The Major Field test covers basic business knowledge and skills in
eight areas: accounting, economics, finance, international issues, legal and social
environment, management, marketing, and quantitative business analysis (decision
science). The purpose of this test is to assess the student’s mastery and retention of basic
business concepts. A minimum score is required as a condition for passing MGT 4800.
Failure to obtain this minimum score will require remedial work on your part. Therefore,
you are strongly encouraged to keep your materials from these courses to help you prepare
for this examination.
Grading:
Your final grade (letter) will be based on the following scale:
Points
540-600
480-539
Grade
A
B
2
420-479
360-419
Below 360
C
D
F
There will be no rounding.
The points are distributed as follows:
Homework:
Online Quizzes (using MyEconlab):
Midterm I:
Midterm II:
Final exam:
100 points
100 points
100 points
100 points
200 points
Exams:
All exams are comprehensive. You may use a non-programmable calculator only
(computers, tablets, cellphones and smartphones are not allowed). Please bring a blue
scantron sheet (blue bubble sheet) to all exams (you are responsible for having your own
sheet before the test begins).
NO make-up tests will be given in this course. If a student misses a mid-term test he/she
will be assigned zero points for it. The final exam is required for all students; failure to take
it will result in a grade F for the course. Mid-term tests are 45-50 minutes long and the
final exam is 2 hours long. If a student possesses a university excuse for the absence the
student will be given a chance to make up the grade at the subsequent comprehensive
exam.
Quizzes:
Online quizzes will be assigned using MyEconlab. Quizzes are to be completed
individually. There will be a total of 8 quizzes. Online quizzes will be due on Friday at
6:00 pm. For a full schedule see the last page of this syllabus.
Assignments:
Assignments will be assigned during the semester. There will be a total of four assignments
and you will be notified of the due date at the moment they are assigned. Each of the four
assignments will worth the same amount of points and the average of the four will
constitute the final score for the “homework”. Unless specified otherwise, written
assignments are to be typed and handed on paper.
Late assignments:
They will not be accepted in this course and will be assigned a grade of zero. If a student
has an excuse for being absent on the due date from a source deemed acceptable by the
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university (e.g. Dean of Students Office, 128 Knight Hall), the student will have to finish
the assignment before the due date.
Email Communication and office hours.
It will be done thru university e-mail accounts. I will reply to e-mails as promptly as
possible. Some questions are not effectively addressed in an e-mail and in those cases I will
recommend you to attend office hours or to meet at a convenient time. Please identify
yourself as an ECON1010 student in the subject of the e-mail to facilitate prompt
communication. Office hours are posted at the beginning of this syllabus and in the door of
my office. If you need to talk with me in another time please make an appointment by
email. Cancellation and reschedule of office hours will be communicated to students in a
timely manner.
Attendance policy:
Students are expected to attend all classes. There could be extra credit questions to induce
attendance. If you miss a class meeting, you are expected to obtain notes and other material
on your own. Participation in discussions, along with asking pertinent questions, is strongly
encouraged. Students will be notified of class cancellations by class announcements and email if necessary.
Group Work Policy:
Group discussion of homework problems, cases and preparing for exams is encouraged.
But each student must submit his/ her individual and distinct answer for each assignment.
Any academic dishonesty will minimally result in an “F” grade for that particular
assignment and will be prosecuted to the fullest extent University Regulations allows. For
more information, please refer to the academic dishonesty section below.
Classroom Decorum:
I support a classroom environment of mutual respect. Students are expected to at least:
- Turnoff all electronic devices unless they are used for classes or emergencies.
- Don’t talk amongst yourselves unless otherwise directed.
- Don’t be late, and don’t leave early unless it is absolutely necessary.
- Don’t be offensive to your classmates or their opinions.
UW Regulation 8-30 and the UW Student Code of Conduct state that each student has
obligations as well as rights in the classroom. The Student Code of Conduct can be
downloaded
from:
http://www.uwyo.edu/dos/_files/docs/Policies%20and%20Resources/20122013%20CODE.docx
Academic Dishonesty:
Also known as “cheating,” academic dishonesty will NOT be tolerated in this class. Cases
of academic dishonesty will be prosecuted in accordance with UW Regulation 6-802.
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University Regulation 6-802 defines academic dishonesty as “an action attempted or
performed that misrepresents one’s involvement in an academic endeavor in any way, or
assists another student in misrepresenting his or her involvement in an academic
endeavor.” Cheating in this course can result in an “F” in the course. In this course,
academic dishonesty includes (but is not limited to) unapproved assistance on
examinations, copying the homework of others, re-using coursework from other classes,
plagiarism or other use of published materials without complete citations, or fabrication of
referenced information. It is up to the student to be familiar and understand academic
dishonesty regulations and to be responsible for any outcomes that occur if you commit
such acts. All group members are responsible for carefully monitoring their group’s work
so that sources are cited properly and academic integrity principles are preserved. The
current
University
Regulations
can
be
found
at:
http://www.uwyo.edu/generalcounsel/_files/docs/uw-reg-6-802.pdf.
Student Services:
If you have a physical, sensory, cognitive, or psychological disability and require
accommodations, please let me know as soon as possible. You will need to register with,
and provide documentation of your disability to Services (UDSS) in SEO, Room 109,
Knight Hall. You may also reach them at 766-6189, TTY: 766-3073.
Exceptions to this syllabus:
There might be exceptional circumstances when exceptions to this syllabus may be
granted. It is crucial that these exceptions are documented before the due dates. All
exceptions have to be documented in a written exchange between me (the instructor) and
the student prior to the date of the exception. Requests for exceptions to this syllabus after
the due date and time will not be granted.
Disclaimer:
All the above information is subject to change when deemed necessary by the instructor.
Students will be notified verbally in class or via email if such changes occur.
To register for Principles of Macroeconomics:
1. Go to pearsonmylabandmastering.com.
2. Under Register, click Student.
3. Enter your instructor’s course ID: tesfaw95099, and click Continue.
5. Select an option to access your instructor’s online course:
· Use the access code that came with your textbook or that you purchased separately from the
bookstore.
6. Click Go To Your Course on the Confirmation page. Under MyLab / Mastering
New Design on the left, click Principles of Macroeconomics to start your work.
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Course schedule: if any change occurs, students will be notified.
Lectu
re #
Date
Topic
Book
chapt
er
1
Monday, January 14, 2013
Economics: Definition and principles
1
2
Wednesday, January 16, 2013
Economics: Definition and principles
1
3
Friday, January 18, 2013
Economics: Definition and principles
1
Monday, January 21, 2013
2
4
Wednesday, January 23, 2013
Martin Luther King Jr./Wyoming Equality
Day
Trade-offs, PPF and the market system
5
Friday, January 25, 2013
Trade-offs, PPF and the market system
2
6
Monday, January 28, 2013
Interaction of Demand and Supply
3
7
Wednesday, January 30, 2013
Interaction of Demand and Supply
3
8
Friday, February 01, 2013
Interaction of Demand and Supply
3
9
Monday, February 04, 2013
Economic Efficiency and Govt. regulations
4
10
Economic Efficiency and Govt. regulations
4
11
Wednesday, February 06,
2013
Friday, February 08, 2013
Economic Efficiency and Govt. regulations
4
12
Monday, February 11, 2013
Comparative advantage and gains from int. trade
7
13
Comparative advantage and gains from int. trade
7
14
Wednesday, February 13,
2013
Friday, February 15, 2013
Comparative advantage and gains from int. trade
7
15
Monday, February 18, 2013
GDP: measurement and limitations
8
16
GDP: measurement and limitations
8
17
Wednesday, February 20,
2013
Friday, February 22, 2013
GDP: measurement and limitations
8
18
Monday, February 25, 2013
Unemployment and inflation
9
19
Unemployment and inflation
9
20
Wednesday, February 27,
2013
Friday, March 01, 2013
Unemployment and inflation
9
21
Monday, March 04, 2013
Growth and business cycles
10
22
Wednesday, March 06, 2013
Growth and business cycles
10
Friday, March 08, 2013
Midterm Exam #1
10
23
Monday, March 11, 2013
Long-run growth: sources and policies
11
24
Wednesday, March 13, 2013
Long-run growth: sources and policies
11
25
Friday, March 15, 2013
Long-run growth: sources and policies
11
Monday, March 18, 2013
Spring Break
Wednesday, March 20, 2013
Spring Break
Friday, March 22, 2013
Spring Break
26
Monday, March 25, 2013
Macroeconomic equilibrium
12
27
Wednesday, March 27, 2013
Macroeconomic equilibrium
12
Friday, March 29, 2013
Easter Break
Monday, April 01, 2013
Aggregate demand and aggregate supply
28
6
13
Quizzes: topic & due
date
Quiz #1: Chapters 1 & 2
Assignment #1: chapter 2
Quiz#2: chapters 3 & 4
Quiz #3: Chapter 7
Quiz#4: Chapter8,
Asg. #2:Chapter7
Quiz#5: Chapter 9
Chapters 1-9
Quiz #6:chapters.10 &11
Assignment #3:chps.9-11
29
Wednesday, April 03, 2013
Aggregate demand and aggregate supply
13
30
Friday, April 05, 2013
Aggregate demand and aggregate supply
13
31
Monday, April 08, 2013
The Fed and Monetary policy
14
32
Wednesday, April 10, 2013
The Fed and Monetary policy
15
Friday, April 12, 2013
Midterm Exam #2
33
Monday, April 15, 2013
Fiscal policy
16
34
Wednesday, April 17, 2013
Fiscal policy
16
35
Friday, April 19, 2013
Fiscal policy
16
36
Monday, April 22, 2013
The Phillips curve
17
37
Wednesday, April 24, 2013
The Phillips curve
17
38
Friday, April 26, 2013
The Phillips curve
17
39
Monday, April 29, 2013
Open economy Macroeconomics
18
40
Wednesday, May 01, 2013
Open economy Macroeconomics
19
41
Friday, May 03, 2013
Review for Final Exam
Quiz #10: Chapter 17
Monday, May6, 7-9pm
Final Exam
Chapters 1 to 19
Quiz #7: Chp. 12-13.
Chapters 1 to 15
7
Quiz #8: chapter 14-16
Quiz #9: Chp 17,
assig.#4