Econ 2301

Principles of Macroeconomics

Instructor: Chris Dittmar

Econ 2301-045 25233

cdittmar@hotmail.com

512-923-4993

Office Hours- 4:30-5:30 T,TR or by appointment

Course Description- Principles of Macroeconomics deals with consumers as a whole, producers as a whole, the effects of government spending and taxation policies and the effects of the monetary policy carried out by the Federal Reserve Bank. Macroeconomics is concerned with unemployment, inflation, and the business cycle

Required Text- N. Gregory Mankiw, Principles of Macroeconomics fourth edition

Instructional Methodology- lecture

Course Rationale- This course is meant to give students insight into the dynamics of our national economy. The knowledge gained in the course will make students better informed citizens and allow them to follow the debates over national economic policy reported in the news media. This course is also a foundation course that will prepare students to be successful in upper division finance, marketing, business administration, economics, government, and social work courses.

Common Course Objectives/Student Outcomes

Students who complete this course will be able to understand:

• the meaning of unemployment and inflation data and how that data is collected and computed;
• the meaning and components of the National Income Accounts, especially GDP;
• the meaning of the business cycle and its phases;
• and to manipulate the basic Aggregate Supply, Aggregate Demand model of the macro economy;
• how fiscal policy operates, its tools, and its advantages and drawbacks;
• how a fractional reserve banking system works;
• how monetary policy operates, its tools, and its advantages and drawbacks.

Grading- There will be three exams, each of which will count as 25% of the final grade. In addition, there will be homework assignments and unannounced quizzes throughout the course. The average of these homeworks and quizzes will count as 25% of the final grade.

Attendance- Regular attendance is expected. Students will not be able to make-up missed tests and quizzes. Late homework will not be accepted.

Scholastic dishonesty: Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, and unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework.

Students with disabilities: Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to do this three weeks before the start of the semester.

Course Outline

Chapter 1 Ten Principles of Economics

Chapter 2 Thinking Like an Economist

Chapter 3 Interdependence and the Gains from Trade

Chapter 4 The Market Forces of Supply and Demand

TEST 1

Chapter 10 Measuring a Nations Income

Chapter 11 Measuring the Cost of Living

Chapter 12 Production and Growth

Chapter 13 Savings, Investment and the Financial System

Chapter 14 Basic Tools of Finance

TEST 2

Chapter 15 Unemployment

Chapter 16 The Monetary System

Chapter 17 Money Growth and Inflation

Chapter 18 Open Economy Macroeconomics

Chapter 19 A Macroeconomic Theory of the Open Economy

Chapter 20 Aggregate Demand and Aggregate Supply

TEST3