Macroeconomics 2301                                     Professor:

Marianna Sidoryanskaya (Dr.S)

Section 06535                                                 OFFICE HOURS:

                                                                        CYP

M., W. 9:00-10:30 a.m.

M., W. 11:30-3:00 p.m.

T., TH  1:15 -3:10 p.m.

Fall, 2007                                                        E-mail: msidorya@austincc.edu

Conferences outside of office hours can be arranged

                                                                        Ph.  223-2000

 

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.

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.

 Course Objectives:

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.

EVALUATION: Student performance will be based upon:

 

¨      EXAMS: 2 exams, each worth 100 points.

 

¨      RETESTING: None, but you get an optional final

 

¨      QUIZZES: Three quizzes, each quiz worth 10 points

REQUIZING: None

 

¨      ATTENDANCE: Each student starts with 30 points; each absence counts 2 points off regardless of reason; extra points sometimes given for attendance at instructor’s discretion.

GRADING:

Final letter grades will be distributed according to the following scale:

Letter Grade

Points

 

A

200 and above

B

180-199

 

C

160-179

 

D

140-159

 

F

139-0

 

 

INCOMPLETES : Incompletes are discouraged. They will be given only when extraordinary events intervene so as to make completion of the course impossible. If you want an incomplete, these events must be documented. To receive an incomplete the student must have completed the first exam and quiz with a C or better. The student must also come by my office to fill out an incomplete form. If the form is not filled out, an incomplete grade will not be given. Incompletes will not be given to students who are behind schedule when the semester nears its end. Nor will incompletes be given to students who need just a few more points to make the next higher letter grade. Plenty of opportunity exists during the semester to accomplish your goals.

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 these three weeks before the start of the semester.

 

WITHDRAWALS: This is a STUDENT responsibility. Students are responsible for withdrawing themselves from this course if that is what their personal situation requires. This means that if you have taken no tests or only a few of the tests and the semester ends without you having withdrawn yourself, then you will receive an F in the course. The instructor makes no promise either implicit or explicit to withdraw students from the course. However, the instructor does reserve the right to withdraw students if the instructor believes the situation warrants such action. For example, if a student misses more than ten classes, the instructor can unilaterally initiate a student withdrawal.

The last day to withdraw from this course without penalty is Monday, November 26.

 

Instructional Methodology: lecture, lecture/discussion

TEXT: Roger A Arnold, MACROECONOMICS, South-Western College Publishing, 8th Edition

 

MACROECONOMICS SCHEDULE

 

August

28

What Economics is about? (Chapter 1)

30

Economic categories (chapter 1)

 

Working with Diagrams (chapter 1, appendix A)

 

Should you Major in Economics?  (chapter 1, appendix B)

September

 

4

6

The Production Possibilities Frontiers (chapter 2)

Production, Trade  and Specialization ( chapter 2)

11

What is Demand? (chapter 3)

13

Supply  (chapter 3)

 

The Market: Putting Supply and Demand Together (chapter 3)

18

QUIZ 1, Measuring Prices (chapter 5)

20

 Measuring Unemployment (chapter 5)

25

The expenditure Approach to Computing Gross Domestic Product. (chapter 6)

27

 The Income Approach to computing GDP, Real GDP(chapter 6)

October

 

2

Other National Income Measurements  (chapter 6)

4

Aggregate Demand (chapter 7)

9

Short Run and Long Aggregate Supply (chapter 7)

11

The Self –Regulating Economy  (chapter 8)

16

Review for Exam 1

18

EXAM 1

23

The Federal Budget. Demand-side Fiscal Policy (chapter 10)

25

Supply-side Fiscal Policy (chapter 10)

30

Money (chapter 11)

November

 

1

How Banking Developed

 

The Money Creation Process (chapter 11)

6

The Federal Reserve System

 

Fed Tools for Controlling the Money Supply (chapter 12)

8

QUIZ 2, Money and the Price Level  (chapter 13)

13

Inflation (chapter 13)

 

Money and Interest Rates (chapter 13)

15

Monetary Policy and the Problem of Inflationary Gap  (chapter 14)

 

Monetary Policy and the Problem of Recessionary Gap (chapter 14)

20

Phillips Curve Analysis (chapter 15)

22/27

Rational Expectations and New Classical Theories (chapter 15)

29

QUIZ 3, Economic Growth. New Growth Theory (chapter 16)

December

 

4

Review for Exam 2

6

EXAM 2

11

Grade Check And Review For Optional Final

13

OPTIONAL FINAL EXAM