PRINCIPLES OF MACROECONOMICS (ECON 2313)
COURSE OUTLINE
SPRING 14
I. Instructor: Dr. Richard W. Taylor
Office: 424A
Office Hours: 9AM to 11AM M&W
E-Mail: tayfin@astate.edu
II. Course Prerequisite:
III. Required:
Text: Macroeconomics: Principles and Applications With Aplia, Robert E. Hall and Marc
Lieberman, 6th edition, Cengage, 2013.
A Blackboard Learn site is available for this class. The solutions to all assigned problems are given
there and Power Point lectures for each chapter are also there.
We will use Aplia in this class. The Homework Assignments on Aplia will be worth one exam (100
Points). I have some information on Blackboard that will tell you how to enroll in Aplia.
Optional:
Wall Street Journal (WSJ). Reading the WSJ is a good way to keep up with current events in the
U.S. economy.
IV. Course Objectives:
This course will introduce you to the basics of Macroeconomics. Macroeconomics is a study of the
whole economy. We will consider such topics as GDP measurement, long-run and short-run
models of the economy, the Federal Reserve system, fiscal and monetary policy, and inflation.
In addition, this course will help prepare you for future classes in economics and business.
V. Exams and Grades:
We will have four exams in the course including the final. The lowest score from exams 1 through
3 will be dropped. If you miss an exam with a reasonable excuse, that is the exam that will be
dropped.
The exams will be multiple choice. You can bring a calculator to the exam. In addition, you can bring
two 8 ½ by 11 sheets of paper to the exam on which you can write, type, or copy anything you like.
(You can write on both sides of the paper.) The exams will be curved if necessary.
Grades:
A = 90 to 100
B = 75 to 89
C = 65 to 74
D = 50 to 64
F = below 50
Note that the Aplia Homework counts as one exam (100 points). Therefore, total points will be
400— 300 points for exams and 100 points for Aplia.
VI. Coverage:
A. Chapter 1—What is Economics? Problem Set 1 & 2.
Chapter 2—Scarcity, Choice, and Economic Systems. Problem Set 1 & 5.
Chapter 3—Supply and Demand. Problem Set 1, 2, 3, 5, 6, 7, 9, 12, and 13.
Chapter 5—What Macroeconomics Tries to Explain. Problem Set 3, 4, & 5.
NOTE: ALL Aplia Assignments (Chapters 1 – 3 & 5) must be completed by February 15.
Exam 1, Chapters 1 –3 & 5.
B. Chapter 6—Production, Income, and Employment. Problem Set 1, 2, 3, & 5.
Chapter 7—The Price Level and Inflation. Problem Set 1, 2, 5, 7, 10, & 12.
Chapter 8—The Classical Long-Run Model. Problems Set 1, 2, 3, & 5.
Chapter 9—Economics Growth and Rising Living Standards. Problem Set 2, 4, & 7.
NOTE: ALL Aplia Assignments (Chapters 6 – 9) must be completed by March 11.
Exam 2, Chapters 6 – 9.
C. Chapter 10—Economic Fluctuations. Problem Set 2 & 3.
Chapter 11—The Short-Run Macro Model. Problem Set 1, 3, 4, 5, 6, & 7.
Chapter 12—Fiscal Policy. Problem Set 1, 2, 4, and 7.
NOTE: ALL Aplia Assignments (Chapters 10 – 12) must be completed by April 9.
Exam 3, Chapters 10 – 12.
D. Chapter 13—Money, Banks, and the Federal Reserve. Problem Set 2, 7, & 8.
Chapter 14—The Money Market and Monetary Policy. Problem Set 1, 2, 3, 4, & 6.
Chapter 15—Aggregate Demand and Aggregate Supply. Problem Set 2, 3, 4, 5, 7, & 8.
Chapter 16—Inflation and Monetary Policy. Problem Set 2, 5, & 6.
NOTE: All Aplia Assignments (Chapters 13 – 16) must be completed by May 6.
Exam 4, Chapters 13 – 16.