EMORY UNIVERSITY
Department of Economics
Principles of Macroeconomics
Economics 112, section 001
FALL 2014
Edouard Wemy
This course is the second course in the introduction to economics sequence. The focus is on the
whole (macro) economy of a nation. Among the topics covered are: international trade and
finance; the factors that determine long run growth in output; the role of the financial system in
investment; the banking system, the money supply and the Federal Reserve System; open
economy macroeconomic issues; and short run fluctuations in prices, output, and employment;
and possible government monetary and fiscal policies to remedy these fluctuations. We will
discuss current economic issues such as the budget and trade deficits, the recent financial crisis,
the Euro crisis, Asian and Latin American Economies and Frontier Markets.
Class Time: Tuesday, Thursday, Friday 9:00am-9:50am
Prerequisite: ECON 101.
Announcements: You are responsible for any announcements or assignments made in class.
Office: Modern Language, Room 106
E-mail: ewemy@emory.edu.
Office Hours: Tuesday, Thursday 11AM-12:30PM and by appointment.
Please, No electronics in class (computers, cell phones, etc.). If you have a pressing need to use
these in class, please see me and you can sit in a special section.
Textbooks
Textbook: N. Gregory Mankiw, Principles of Macroeconomics, Seventh Edition, SouthWestern Cengage Learning, 2015.
On-line resources: We will use an on-line service called Sapling for homework assignments.
Details about this are on Blackboard under “Course Documents”. This is required for the
course.
Course Key: 4405
Blackboard: Blackboard is a communication medium used to make announcements, distribute
handouts and lectures, post reading material, collect assignments, and record and distribute
grades. To get to the Blackboard main page, go to: https://classes.emory.edu and then use your
email ID and Password to log in and select our course. If you cannot log in, you may contact
classes@emory.edu for help. There are several navigation buttons on the left that we will use to
organize and classify information. Among these are:
Announcements – used to make various announcements. Please read this section regularly.
Course Documents – used to post the syllabus, lecture presentations, and assignments.
Additional Readings – used to post non-textbook reading material (supplementary readings)
There is also a website for your textbook: www.cengage.com/economics/mankiw. This is
a very useful website that includes problems and applications, quizzes, and power point slides. I
strongly suggest you consider using this as a supplement to your textbook.
Honor Code: The honor code is in effect throughout the semester. By taking this course, you
affirm that it is a violation of the code to cheat on exams, to plagiarize, to deviate from the
teacher’s instructions about collaboration on work that is submitted for grades, to give false
information to a faculty member, and to undertake any other form of academic misconduct.
You agree that the teacher is entitled to move you to another seat during examinations,
without explanation. You also affirm that if you witness others violating the code you have a
duty to report them to the honor council.
Here is the link to the entire honor code:
http://college.emory.edu/home/academic/policy/honor_code.html
GRADING AND TESTS
The grade in this course will be determined as follows:
Assignment
Homework and Quizzes*
Participation
Each in class exam (2)
Final Exam
Weights
20%
10%
20%
30%
* Pop Quizzes: There will be in-class pop quizzes. I will not announce in advance when the
pop quizzes will be given. In that sense, the pop quiz can also be viewed as random attendance
checking.
Grades are not curved. Your final course grade will be computed according to the following
scale:
A
AB+
B
BC+
C
CD
F
95% - 100%
90% - 94%
85% - 89%
80% - 84%
75% - 79%
70% - 74%
65% - 69%
60% - 64%
55% - 59%
< 54%
Bonus points: Throughout the semester, bonus points will be given to students who bring
articles pertaining to the concepts discussed in class. The articles must come from well-known
journals as “The Economist”, “The Wall Street Journal”, “The New York Post” etc…..
MISSED EXAMS: No make-up exams are given. If you are ill, or must miss an exam for some
other reason, please contact me prior to the exam. Failure to do so may result in a failing grade.
For an excused absence the other two exams will be weighted more heavily in place of the
missing exam.
Expected Conduct
Instructor:
I will come to class prepared to teach the material you need to learn in this course.
I will make every effort to arrive on time, begin class on time, and release you on time.
I will answer your questions to the best of my ability and respond in a timely fashion should I
not immediately know the answer.
I will hold regular office hours and be available to answer your questions.
Students:
You are expected to arrive on time and prepared for class. (Late arrival disturbs everyone and
will not be allowed.)
Please turn off your phones and all other electronics before you enter class.
Please be quiet during class so that others may hear what is going on.
Please discuss with me any problems you may have in the course or any suggestions to
improve the course.
Suggestions for Success:
Be attentive and take detailed notes.
You should look over the assigned material before class, and read it carefully after class.
You should be sure to do the assigned homework problems on a regular basis. Economics
requires gradual learning.
TENTATIVE COURSE SCHEDULE
INTRODUCTION
CHAP 1. Ten Principles of Economics.
CHAP 2. Thinking Like an Economist.
CHAP 3. Interdependence and the Gains from Trade.
CHAP 9. Application: International Trade.
THE DATA OF MACROECONOMICS
CHAP 10. Measuring a Nation's Income.
CHAP 11. Measuring the Cost of Living.
THE REAL ECONOMY IN THE LONG RUN
CHAP 12. Production and Growth.
CHAP 13. Saving, Investment, and the Financial System.
CHAP 14. The Basic Tools of Finance.
CHAP 15. Unemployment and Its Natural Rate.
MONEY AND PRICES IN THE LONG RUN
CHAP 16. The Monetary System.
CHAP 17. Money Growth and Inflation.
SHORT-RUN ECONOMIC FLUCTUATIONS
CHAP 20. Aggregate Demand and Aggregate Supply.
CHAP 21. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
CHAP 22. The Short-Run Tradeoff between Inflation and Unemployment.
THE MACROECONOMICS OF OPEN ECONOMICS
CHAP 18. Open-Economy Macroeconomics: Basic Concepts.
CHAP 19. A Macroeconomic Theory of the Open Economy.
EXAM ONE: October, 7th
EXAM TWO: November, 11th
FINAL EXAM: Thursday, December 11, 2014 8am-10:30am
NOTE: This syllabus is subject to change at any point during the course of
the semester. All changes will be noted in class.
Important Dates for Fall 2014
UPDATED August 1, 2014
Wednesday, August 27th
and undergraduate
Monday, September 1st
Wednesday, September 3rd
Wednesday, September 10th
OR Satisfactory/
(L/G - S/U) change
Friday, September 12th
Friday, September 12th
Incomplete Work
M-Tu, October 13-14th
Friday, October 17th
penalty
Monday, October 27thth
Friday, November 14th
Monday, November 17th
First day of classes for graduate
Labor Day Holiday
Last day for schedule change
(4:00 p.m.) Last Day for Letter Grade
Unsatisfactory
Degree Applications for Fall
Graduates due in College
Office (Students should bring
to Alexa, 312D Rich Bldg. for
advisor signature)
Deadline for Completion of
Fall Break (no classes)
Last Day to Withdraw without
Pre-registration begins for
Seniors for Spring 2015 (75+
hours)
Last day to withdraw for First
year on campus students
ADD/DROP/SWAP opens for
Spring 2015
THANKSGIVING HOLIDAY
Last Day of Classes, Emory
W-TH-F November 26th-28th
Tuesday, December 9th
College
December 10th
Reading Day
December 11, 12, 15, 16, 17
Final Exam Days