ECO4203 Sp2011 syllabuss

ECO4203 Sp2011 syllabuss - Florida State University...

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Unformatted text preview: Florida State University Department of Economics ECO4203: I ntermediate M acroeconomic Theory Spring 2011 Class Times & Locations: Section 01 Section 02 T R 9:30 10:45 a.m. at 203 BEL T R 3:35 4:50 p.m. at 033 BEL I nstructor: Dr. Onnie Norrbin Course Web Page: Blackboard Office & Phone: BEL 211-D, (850) 645-2301 Office Hours: Tuesdays & Thursdays 2:00 p.m. E-mail: 3:30 p.m. or by appointment COURSE DESCRI PTI ON Examination of forces that determine growth, income, and employment in economic systems, with special reference to the United States and other industrialized countries. Understand the causes of unemployment and inflation and the role of government in maintaining stable prices and sustained growth. Prerequisites: ECO2013 and ECO2023. SCOPE Macroeconomics is the study of economic activity at the aggregate level. Our focus is on how macroeconomic citizens. This course will divide the macroeconomic theories into three time horizons: (i ) the short run, (ii ) the long run, and (iii ) the very long run. We will discuss Keynesian economics to describe economic fluctuations in the short run. In the long run analysis, we will study the Classical model of how output and employment are determined. Finally, we will focus on the economic growth theory to explain why rich countries remain rich and how to maintain robust economic growth. Particularly, the goal of this course is to present fundamental analytical tools (models) that are useful to analyze macroeconomic issues such as the determination of national income, employment, and price levels in different schools of economic thoughts. We will cover the short- and long-run responses of the economy to changes in government policies how fiscal and monetary policy can foster economic stability and improve -being. I will assume that you are comfortable with the use of graphs and algebra, and that you are willing to learn about different views of macroeconomic thoughts (Keynesian and Classical views). I will also assume that you are comfortable with the material in ECO2013 (Principles of Macroeconomics), as well as the material in ECO2023 (Principles of Microeconomics). Most importantly, I will assume that you have a genuine intellectual interest in economics and the interplay between abstract mathematical theories and empirical facts. OBJECTI VES Upon completion of this course, students should be able to: 1. these measurements. 2. explain how public policies affect consumption, investment, and interest rate. 3. understand how an economy adjusts to its equilibrium in the short run and in the long run. 4. discuss the impacts of fiscal and monetary policies on the macro variables. Any different adjustments in the short run and in the long run? 5. discuss what the engines of economic growth are and how to improve a 1  READING MATERIALS Texts: 1. N. Gregory M ankiw, M acroeconomics, 7th edition, Worth Publishers (required). 2. The supplement text: Richard T. Froyen, Macroeconomics Theories and Policies, 9th edition, Pearson Prentice Hall (not required). My lecture will highlight what I believe to be the important points in the assigned chapters. I will expect you to be familiar with the material that I do not cover in class. In addition, I will assign outside readings of short articles from time to time. T EACHING/LEARNING STRATEGI ES The format of this class: it will be mostly lecture. Class discussion and small study groups are encouraged. We will sometimes discuss recent newspaper articles about economic issues. I am more than willing to meet with students, so please do not hesitate to stop by or set up an appointment. Blackboard ( and the Florida State University e-mail will be the main communication tools for this class. Please check your FSU e-mail account regularly for any update or announcement. Exam grades will be posted promptly on the Blackboard. Monitor them closely and notify me immediately if there is any discrepancy. Y ou Have to Come to Class: I cannot emphasize strongly enough the need for consistent attendance. Regular attendance, along with taking good notes, should help students obtain a good understanding of the course materials. I also expect that you read the textbook chapter (or the online notes) before coming into the class. If you miss the class, it is your responsibility to catch up the missed material (i.e. I will not redo the whole 75minute lecture to you. If you need help to go over the chapters, you should hire a tutor). It has been my you have a difficult time attending classes, do not take this class. Y ou Have to Study to Do Well: That should not be a surprise, but surprisingly, it often is. This course is an INTERMEDIATE theory course. As such, it exposes you to a relatively high level of detail and complexity. ing over the material, you have to study it. GRADING The grade will be based on your performance on the following: five in-class quizzes, two midterm exams, and a cumulative final exam. The grade point breakdown as follows: 5 in-class quizzes Midterm Exam 1 Midterm Exam 2 Final Exam T otal 50 points 45 points 45 points 60 points 200 points Final letter grade will be assigned according to the following total point values for the course work: A AB+ B >185 180-184 174-179 166-173 BC+ C C160-165 154-159 146-153 140-145 D+ D DF 134-139 126-133 120-125 <120 2  EXAM S The midterm exams only include the new material covered in that section of the course. T he final exam will be comprehensive, covering material from the entire semester . All exams are closed book and consist of multiple-choice questions. A typical question asks the student to graphically analyze, algebraically calculate, and/or solve problems. Thus, the questions have specific answers. Examination Dates M idterm Exam 1 M idterm Exam 2 Final Exam Tuesday, February 15th Tuesday, March 29th 01: Tuesday, April 26th 10:00 am 12:00 noon 02: Tuesday, April 26th 5:30-7:30 pm M I SSED EXAMS No makeup exams will be given. You are warned well in advance of exam dates to properly schedule your time and to make proper arrangements for other potential conflicts. If the student has a medical or other ity to inform me within a week of the exam date and explain the nature of the emergency. I f an exam is missed with a valid excuse and adequate documentation (at my discretion), I will reweigh the grade on the Final Exam for the missed exam. Otherwise, in I N-CLASS QUI ZZES Five in-class quizzes will be given throughout the semester. Students will work individually on the quizzes with open books/notes during the class time on the announced dates. The quizzes will involve solving problems that usually involve graphs and/or calculations. These problems are similar in nature to test questions. Thus, they are a very good practice in learning what is expected from you on tests. The quizzes constitute 25% of your grade, so you should study and work on them diligently. The quizzes are scheduled on the following dates: th Quiz 1 Tuesday Jan. 25 th Quiz 2 Tuesday Feb. 8 rd Quiz 3 Thursday Mar. 3 nd Quiz 4 Tuesday Mar. 22 th Quiz 5 Thursday Apr. 14 No makeup quiz will be given. You are warned well in advance of quiz dates to properly schedule your time and to make proper arrangements for other potential conflicts. If the student has a medical or other emergency, at the time of a scheduled quiz inform me within a week of the exam date and explain the nature of the emergency. I f a quiz is missed with a valid excuse and adequate documentation (at my discretion), I will reweigh the grade on the Final Exam for the missed quiz. Otherwise, in the event you miss a quiz will be recorded for that quiz. I N-CLASS EXERCISES If you decide to take the course, I will expect you to attend every class and be willing to participate in class activities. From time to time, I will give in-class problems and/or exercises for you to work individually or with a group of students. The points earned from the in-class exercises will be your bonus points. CLASSROOM EXPECTATI ONS Respect: This is a learning environment. To maintain the maximum opportunities for learning, all of us will be expected to respect each other in the classroom. You need to show respect to both your fellow students and me by refraining from unnecessary talking in class, not using any cellular device, not reading newspapers, and coming to class on time and remaining in the class room until the end of the class period. In exchange, I will also respect you, by coming to class on time, be prepared, and return assignments in a reasonable time period. 3  UNI VERSITY ATTENDANCE POLICY Excused absences include document illness, deaths in the family and other documented crises, call to active military duty or jury duty, religious holy days, and official University activities. These absences will be accommodated in a way that does not arbitrarily penalize students who have a valid excuse. Consideration will also be given to students whose dependent children experience serious illness. ACADEM IC HONOR POLI CY ions of those expectations, and the right and responsibilities of students and faculty members throughout the process. Students are responsible for str Honor Policy, found at AMERI CANS WITH DISABILITI ES ACT Students with disabilities needing academic accommodation should: (1) register with and provide documentation to the Student Disability Resource Center; and (2) bring a letter to the instructor indicating the need for accommodation and what type. This should be done during the first week of class. This syllabus and other class materials are available in alternative format upon request. For more information about service available to FSU students with disabilities, contact the: Student Disabilities resource Center 874 Traditions Way Florida State University Tallahassee, FL 32306-4167 (850) 644-9566 SYLLABUS CHANGE POLI CY Except for changes that substantially affect implementation of the evaluation (grading) statement, this syllabus is a guide for the course and is subject to change with advance notice. T ENTATI VE SCHEDULE (Subject to change) M = Mankiw, F = Froyen; Number = chapter (M 2 = Mankiw chapter 2) W eek 1, 2, 3 T opics Intro to Macroeconomics GDP, Inflation, Unemployment Study Resources/ Note M2 PART 1: T he Keynesian System: The Short Run Analysis 4,5 6 7 The Keynesian Cross The Good Market (IS Curve) Money in the Keynesian system (LM Curve) Money, Interest Rate, and Income M 10-1, F 5 M 10-1 M 10-2, F 6.1 Midterm Exam 1 4  8 9 10 11 The IS-LM model Policy Effects in the IS-LM Model SPRING BREAK: No class Aggregate Demand and Aggregate Supply M 11, F 6.2 M 11, F 7 M 9, F 8.1-8.5 PART 2: T he Classical Model: The Long Run Analysis 12 13 Classical Model: Output and Employment Classical Model: Money and Inflation M 3, F 3 M 4, F 4 Midterm Exam 2 PART 3: Growth Theory: The Very Long Run Analysis 14, 15 16 17 Economic Growth I: Capital Accumulation Economic Growth II: Population Growth Convergence Hypothesis FI NAL EXAM WEEK ECO4203-01 Tuesday, Apr. 26th at 10:00 AM 12:00 noon ECO4203-02 Tuesday, Apr. 26th at 5:30-7:30 PM M7 M8 M = Mankiw, F = Froyen   5  ...
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This note was uploaded on 02/24/2011 for the course ECO 4203 taught by Professor Norrbin during the Spring '11 term at FSU.

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