ECON 191-01: Principles of Macroeconomics
Dominican University
Summer 2005
Instructor: Brian Scott
Office:
Office Phone:
Cell Phone: 773-430-5295
Email: bscott@dom.edu
Office Hours: Monday and Wednesday by appointment.
This is an undergraduate course in the principles of macroeconomics. We will cover the basics of economics essential to both macroeconomics and microeconomics. We will then cover basic macroeconomic theory including fiscal and monetary policy from both the Keynesian and Classical perspectives.
Expected learning outcomes:
By the end of the semester a successful student should:
1. Gain a solid understanding of macroeconomic theory
2. Be able to apply the theory to real world situations
3. Be prepared for future coursework in macroeconomics
Meeting Times: This class meets Tuesday and Thursday 6:00pm-9:45pm
Instructional Method: This course will be taught primarily through lecture, with in class experiments, demonstrations, discussions and problem solving.
Texts:
Required Texts:
Mankiw, N. Gregory. Principles of Macroeconomics. 3rd edition. Thomson-Southwestern Publishers, 2004, ISBN/ISSN 0-324-17189-7
Or
"Essentials of Economics, 3rd Edition", Thomson-Southwestern Publishers, 2004.
ISBN/ISSN: 0-324-17191-9
Suggested Texts;
Mankiw, N. Gregory. Study Guide to accompany Principles of Macroeconomics. 3rd edition. Mason, Ohio: Thomson-Southwestern Publishers, 2004.
Grading:
You are expected to attend class and are responsible for all material that is covered in class that might not be included in the book or may be slightly different from what is included in the book. Please ask questions if any of the material is unclear. If you would like to meet with me sometime outside of class I would be more than happy to schedule an appointment.
Grading Scale:
90%-100% A
80%-89% B
70%-79% C
60%-69% D
0%-59% F
Pluses and minuses will be based on course participation and attendance.
Grading Policy:
Quiz 1 5%
Midterm I 20%
Quiz 2 5%
Quiz 3 5%
Quiz 4 5%
Midterm II 20%
Final 30%
If performance on the final is a significant improvement over other grades it will be given more weight when calculating final grades.
Ten Principles of Economics: Review Questions 2, 7, 9, 10
Problems: 4, 5, 6, 11
Thinking Like an Economist: Problems 3, 4, 5, 6, 7,
Market Forces of S & D: Problems 1, 2, 3, 5, 7, 8, 9, 11
S, D & Government Policies: Problems 1, 2, 3, 4, 8, 10 (skip elasticity portions of these questions)
Measuring a Nation’s Income: Problems 1, 5, 11
Measuring the Cost of Living: Problems 2, 10, 11
Production & Growth: Review Questions 2, 7
Problems 7, 8, 9
Saving, Investment, & Financial System: Problems 1, 9/7, 10/8, 12/10, 15/13
Unemployment & Natural Rate: Problems 1, 4/5, 5/6, 6/7, 8/9
Monetary System: Problems 3, 6/7, 9/10, 10/11, 11/12
Money Growth & Inflation: Problems 1, 2, 5, 6, 11
AD & AS: Problems 3, 7, 8, 10, 11, 12
Effect of Policies on AD: Problems 1, 2, 3, 8, 11
Tradeoff Between Inflation & Unemp.: Problems 1, 4, 7
Final Thoughts
Basic Tools of Finance
Open Economies