UNIVERSITY OF MARYLAND
DEPARTMENT OF ECONOMICS
ECONOMICS 305
Spring Semester, 2016
Room: VMH 1524
Lecture: T and Th 11:00am - 12:15pm
O.H.: T and Th 3:30pm - 4:30pm (or by appointment)
Dr. John Neri
Office: Morrill Hall-1102B
Campus Tel: (301) 405-9405
Email: neri@econ.umd.edu
johna.neri@gmail.com
REQUIRED: Mankiw, N. Gregory: Macroeconomics, Worth Publishers, Ninth edition.
Eighth and Seventh editions should be fine - More about this in class.
COURSE DESCRIPTION
Economics 305 is a course in intermediate macroeconomic theory. Macroeconomics is the study of the
economy as a whole and is concerned with some of the most important questions in economics. Why is there
unemployment? What are the sources of rapid inflation? What causes recessions? We will develop several
macroeconomic models to explain the behavior of key macroeconomic variables such as GDP, inflation,
unemployment, and the interest rate. These models will help to develop the student's analytical and deductive
reasoning skills. Finally, the role of monetary and fiscal policy will be examined within the context of each
model. The goal of this course is to address these questions using the various models developed by
macroeconomists and to understand the strengths and limitations of each model.
EXAMINATIONS AND GRADES
Your grade will be determined as follows:
Two (2) midterm exams
Comprehensive Final Exam
Six (8) Graded Problem Sets
Total
100 points each
140 points
10 points each
420 points
Examinations: There will be two mid-term exams and a final exam. The final exam is cumulative. You must
take all three exams. A make-up exam for in-class exams can be given only for those students with a valid
University excuse. Request for make-up exams must be made within 24 hours of the scheduled in-class
exam. In addition to the 3 exams, you will have 8 graded problem sets. You must do all 8 problem sets. ALL
questions about grading of an exam or assignment must be presented to me or your TA within one
week of the assignment grade being posted on ELMS. I will not consider any grading questions after
the one week period.
Grades for this course will be assigned as follows:
A : 92.5% and above; A- : 89.5 - 92.49%; B: 79.5 - 89.49% (+/- determined at the end of the term);
C: 69.5 - 79.49% (+/- determined at the end of the term); D: 59.5 - 69.49%; F: below 59.5%.
There will be no extra credit opportunities.
Eating and Drinking in Class: Eating and drinking are prohibited in classrooms as a university
policy.
Laptop Use Policy: You can use your laptop during my lectures for course-related uses such as taking
notes or looking at my slides only. You cannot use it for messaging, checking email, browsing the web,
even if you may also have my slides open. If I determine this policy is being abused and/or people with
laptops disturb those without, I will withdraw this privilege and no laptops will be allowed during
lectures.
Other Electronic Devices: No other devices, including but not limited to phones (iPhones,
Blackberries included), music players (with or without headphones) can be used during lectures.
Tablets such as iPads will be subject to the laptop use policy above. I will ask anyone violating this
policy to leave the classroom.
Teaching Assistants:
There are 3 graduate teaching assistants for this course. I will update with office hours on the course web site
at: www.terpconnect.umd.edu/~jneri/Econ305. The following procedures must be followed:
1. Students must turn in their problem sets in lecture on the due date or during their TA’s office
hours before the due date.
2. E-mail submissions of problem sets will NOT be accepted. Problem sets slid under my office
door or placed in my mail box will NOT be accepted. Late problem sets will be penalized.
APPROXIMATE SCHEDULE. I may add, drop or change the order of topics and chapters. Exam dates,
problem set dates and quiz dates may change. I will post additional required reading on the course webpage.
Class Dates:
(1/26 - 1/28)
(2/2 - 2/4)
Part I: Introduction
Chapter 1 Introduction. Start Chapter 2
Chapter 2 - Macro Data
Part II: Classical Theory: The Economy in the Long Run
(2/9- 2/11)
Chapters 2 and 3 (PS No.1 Tuesday 2/9) Answers to problem sets are provided in class only.
(2/16 - 2/18) Chapters 3 and 5(Chapters 3 and 4 in the 7th edition) (PS No. 2 Thursday 2/18)
(2/23- 2/25) Chapters 5 and 7 (Chapters 4 and 6 the 7th edition) (PS No. 3 Thursday 2/25)
Part III: Business Cycle Theory: The Economy in the Short Run
Exam 1 – Tentatively Tuesday, March 1, Location to be announced
(3/1 - 3/3)
(3/8 - 3/10)
(3/15 - 3/17)
(3/22 - 3/24)
(3/29 - 3/31)
(4/5 - 4/7)
Chapter 10 (Chapter 9 in the 7th edition) (Introduction to Economic Fluctuations)
Chapters 10 and 11 (Chapter 9 and 10 in 7th edition) (PS No. 4 Thursday 3/10)
SPRING BREAK
Chapters 11 and 12 (Chapters 10 and 11 in the 7th edition)
Chapters 12 and 14 (Chapters 11 and 13 in the 7th edition) (PS No. 5 Tuesday 3/29)
Chapter 14 (Chapter 13 in the 7th edition) (PS No. 6 Thursday 4/7)
Exam 2 – Tentatively Tuesday, April 12, Location to be announced
(4/12- 4/14)
(4/19 - 4/21)
(4/26 - 4/28)
(5/3 - 5/5)
(5/10)
Part IV:
Chapter 14 and 16 (Chapter 17 in the 7th edition) Consumption
Chapter 16 (Chapter 16 in the 7th edition) (Problem Set No. 7 on Thursday 4/21)
TBA
TBA (PS No.8 Tuesday 5/3)
TBA
Final Examination – Thursday May 12 from 8:00- 10:00 a.m. Location to be announced
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