& Career Management Studies
GENERAL INFORMATION
Course Title Course Number Course Pre-requisite(s)
MACROECONOMIC POLICY E C O N 2 9 5
Course Outline
Section 7 6 1 Semester
Winter
Year
2011
Course Co-Requisite(s) MGCR 293: Not open to students who have taken or taking ECON 330 or ECON 362 Course Schedule
Tuesdays 6:00- 9:00 pm; Jan 04, 2011 - Apr 05, 2011; Bronfman Building 045
INSTRUCTOR INFORMATION
Name Dr. JOHN SABA
Office Hours
By Appointment
Phone
E-mail [e-mail]
ADDITIONAL INSTRUCTOR(S)
Name
Section Office Hours Phone Office Hours E-mail Phone E-mail
Name
Section
COURSE DESCRIPTION (as per Calendar)
This applied macroeconomics course focuses on current and recurrent macroeconomic issues important in understanding public policy environment in which firms make their decisions. Topics include national accounts; national income determination; economic growth and fluctuation; money, monetary policy and financial markets; international trade & finance
COURSE OBJECTIVES
Topics to be covered include the following (emphasis will vary): Basic economic principles and tools Unemployment and inflation Measuring the economy's performance (including national income accounts and output determination) Aggregate demand and aggregate supply Classical and Keynesian economics Fiscal policy (including government spending, taxing and public debt) Monetary policy (including money and the banking system) Economic growth International trade and finance issues By the end of this course, students are expected to: -identify the specific contribution of macroeconomics to the understanding of social organizations -know and understand the main concepts and vocabulary used in the field of macroeconomics --identify the main theories, models and methods within the field of macroeconomics -demonstrate the relevance and scope of these components in the understanding of economic life --explain economic policies using a model of macroeconomic activity
McGill University Centre for Continuing Education Career and Management Studies - Page 1
READING MATERIAL
Required
Title: Macroeconomics, (13th Canadian Edition) TEXT & STUDY GUIDE Pearson/ Addison Wesley, Toronto, 2011. Authors: Christopher Ragan and Richard Lipsey
Recommended
REQUIRED TEXTBOOK (Plus the STUDY GUIDE & MYECONLAB access)
EVALUATION
Item Name
Mid-Term
Due Date
15-Feb-11
Percentage
30
Additional Evaluation Information
The Requirements for the Assignment will be handed out in the first class as well as explained.
Assignment
22-Mar-11
20
Final Exam Participation
11-28/04/11
40 10
Final Exam Period is April 11th - April 28th
TOTAL
100%
COURSE REQUIREMENTS
ADDITIONAL INFORMATION
Continuing Education: requirement for CMA, CGA, I.C.B., the EA of AACI, and the CRA
The instructor uses myCourses (WebCT) mail to communicate with students.
McGill University Centre for Continuing Education Career and Management Studies - Page 2
DETAILED COURSE OUTLINE:
CLASS
1
DATE
4-Jan-11
TOPICS
Preliminaries 1) Introduction: What is Economics Economic Issues & Concepts
READINGS AND ACTIVITIES
1(1-23)
2
13-Jan-11
-- How Economists Work -- Economic Data, Mathematics & Graphs [Do at home] 2)Macroeconomics: LONG-run Growth vs SHORT-run 3) Macro Variable 1: Measurement of National Income
2(24-32) (32-47) 19(476-480;491-493)
-Add 19(483-4) - 20(497-517) -- 26(637-644;661-666)
3
18-Jan-11
3) Macro Variable 1: The Measurement of National Income & GDP [continued]
3) Macro Variable 1: The Measurement of National Income & GDP [continued] 4) Macro Variable 2: The Measurement of Employment & Unemployment
4
25-Jan-11
-19(480-483) -31 (790-817)
5
1-Feb-11
4) Macro Variable 2:
The Measurement of Employment & Unemployment [continued]
Same as above
6
8-Feb-11
5) Macro Variable 3:The Measurement of Consumer Price Index & Inflation 6)Short-Run & Long-Run Macro Analysi
-19 (484-489) -30(762-764) -25 (622-636)
Students should NOT make other commitments Vacation plans DO NOT constitute valid grounds for the deferral or the rescheduling of exams
7
15-Feb-11
NO CLASS Week 8; Feb. 22nd
Study Week Monday Feb. 21-- Friday Feb. 25 7) Short-Run: Macro Model Income Determination developed + Fiscal Policy --The Simplest Short-run Macroeconomic Model -- Closed Economy: No government & foreign tr
MID-TERM EXAM
Students are required to present I.D. CARDS (with photo) at the exam
8
1-Mar-11
21 (518-545)
9
8-Mar-11
--- The Complete Short-run Model of an Open Economy: --- Adding government & trade to the Simple Macro Model
-- The Complete Short-run Model of an Open Economy: Adding -- government & trade to the Simple Macro Model [cont] 8) Price Level: Aggregate Demand & Supply Review Demand,Supply&Price[at home] -Output and Prices in the Short-run --Short to Long-run: Adjustment of Factor Prices
9) Fiscal Policy 10) Money, Banking & Monetary Policy -- Money and Banking -- Money, Interest Rates & Economic Activity
22 (546-556)
10
15-Mar-11
22 (556-566)
11
22-Mar-11
DOSSIER DUE -- A 20% (4 marks) per day penalty is applied on late dossier submission REVIEW at Home 3 (48-74) 23 (568-590) 24 (591-605) 24(606-621) 27 (671-699) 28 (700-727)
29 (728-749) 33 (842-866) 35 (892-929)
12
29-Mar-11
13
5-Apr-11
-- Monetary Policy in Canada 11) International Economics -- International Trade & Finance
McGill University Centre for Continuing Education Career and Management Studies - Page 3
RIGHT TO SUBMIT IN ENGLISH OR FRENCH WRITTEN WORK THAT IS TO BE GRADED
ADDITIONAL INFORMATION
GRADING SYSTEM
Graduate Level (85-100% Pass (80-84%) (75-79%) (70-74%) (65-69%)
In accord with McGill University's charter of students' rights, students in this course have the right to submit in English or in French any written work that is to be graded. In cases where language acquisition is part of the assessment objectives, the work must be submitted in the language evaluated.
Grade
A AB+ B BC+ C D*
Undergraduate Level
(85-100% (80-84%) (75-79%) (70-74%) (65-69%) (60-64%) (55-59%) (50-54%) Conditional (0-49%) Failure Pass
ASSIGNMENTS PICKUP
Marked assignments cannot be picked up from the offices at Continuing Education, therefore if your marked assignments are not available in class before the end of term you must submit a selfaddressed stamped envelope to your instructor or these assignments will not be returned. Remember to keep a photocopy or back-up of your creative work before it is handed in to your instructor.
(0-64%) Failure Pass
F P
EMAIL POLICY
* Although D is a passing grade, it will not permit entry into a subsequent course for which it is a prerequisite, nor will it be recognized if the course is a compulsory course in your program.
POLICIES
ACADEMIC INTEGRITY
McGill University values academic integrity. Therefore all students must understand the meaning and consequences of cheating, plagiarism and other academic offences under the Code of Student Conduct and Disciplinary Procedures (see www.mcgill.ca/integrity for more information).
E-mail is one of the official means of communication between McGill University and its students. As with all official University communications, it is the student's responsibility to ensure that time-critical e-mail is assessed, read, and acted upon in a timely fashion. If a student chooses to forward University e-mail to another e-mail mailbox, it is that student's responsibility to ensure that alternate account is viable. Please note that to protect the privacy of the students, the University will only reply to the students on their McGill e-mail account.
RESOURCES
STUDENT SERVICES
Various services such as Walksafe, McGill Libraries, the Writing Centre, the bookstore, etc., are available to Continuing Education students (www.mcgill.ca/ conted/studentres/services/).
FINAL EXAM POLICY
REGULATIONS Students should not make other commitments during the final exam period. Vacation plans do not constitute valid grounds for the deferral or the rescheduling of examinations. See the Centre for Continuing Education Calendar for the regulations governing examinations or go to (www.mcgill.ca/ conted/studentres/records/exams/regulate/). IDENTIFICATION Students are required to present their McGill photo I.D. card for entrance to their examination. EXAM SCHEDULE Examination schedules are posted online approximately 6-8 weeks before the examination period begins (www.mcgill.ca/conted/studentres/ records/exams/cmsexams/).
COMPUTER LABS
Free access to computer labs are available at 688 Sherbrooke (12th floor), MACES, the McLennan Library and other location on campus.
MINERVA AND ONLINE RESOURCES
Access your personal student information online with Minerva (www.mcgill.ca/minerva-students). Information regarding online resources such as email, VPN, myCourses (WebCT), etc. can be found at www.mcgill.ca/it.
MACES
The McGill Association of Continuing Education Students, MACES (www.maces.mcgill.ca), is located at 3437 Peel, 2nd floor, tel. [phone].
"In the event of extraordinary circumstances beyond the University's control, the content and/ or evaluation scheme in this course is subject to change." McGill University Centre for Continuing Education Career and Management Studies - Page 4