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Principles of Macroeconomics

Principles of Macroeconomics
Professor Guy Pascale

Semester: Fall 2012
ID#: 50:220:103:04
Index #: 07707
Room: BSB 106
Office Hours: M-W 2:00-4:20 and by appointment
Phone: (856) 225-6136
E-mail: pascale@camden.rutgers.edu

Texts:

All materials available on SAKAI.

Overview of the Course:

This course is designed to expose students to the important terms and concepts related to the subject of macroeconomics.  Once completed students should understand scarcity and trade-offs, the basic functioning of markets, measures of economic performance and long-term growth, the basic workings of the financial system, aggregate supply and demand analysis, monetary and fiscal policy, the trade-off between inflation and unemployment, and the gains from trade.

Grading:

During the semester, there will be three exams and a final.  The exams only encompass material covered from the previous exam.  The final is cumulative.  The exams are worth 20% and the final is worth 30% of your grade.  The tests occur on 10/8, 11/7, and 12/10, respectively. The exams and final consist of a mixture multiple choice and problems.

All electronic devices must be turned off during exams.

Attendance is worth 10% of the final grade.

 Test 1  Test 2  Test 3  Final  Attendance  Total 
20% 20% 20% 30% 10% 100%

There are no makeup exams.  Individuals who miss an exam will have their final exam weighted to include the missed exam.  Thus, a student missing an exam will have the final count as 50% of their final grade.

There is no extra credit for this course.

Cheating:

THE UNIVERSITY HAS A WELL DEFINED POLICY ON CHEATING AND ACADEMIC DISHONESTY.  IN SUMMARY, DON’T DO IT.

Class Room Etiquette:

Cell Phones must be turned off during class.

School policy allows for the removal of any student who is a disruption in the classroom.  A cell phone ringing in class constitutes a disruption and will adversely impact your final grade. 

Course Outline 

Part I: Getting Started                     

Section 1.1:           The Scope and Method of Economics

Section 1.2:           Scarcity and Choice

Section 1.3:           Supply, Demand, and Equilibrium

Section 1.4:           Demand and Supply Applications

Section 1.5:           Introduction to Macroeconomics   

Part II: Macroeconomics: The Big Picture

Section 2.1:           Measuring National Output and Income

Section 2.2:           Unemployment, Inflation, and Long-Run Growth

Section 2.3:           Aggregate Expenditure and Equilibrium Output

Section 2.4:           The Government and Fiscal Policy

Section 2.5:           The Money Supply and the Federal Reserve System

Section 2.6:           Money Demand and the Equilibrium Interest Rate

Part III: Macroeconomic Policy

Section 3.1:           Aggregate Demand in the Goods and Money Markets

Section 3.2:           Aggregate Supply and the Equilibrium Price Level

Section 3.3:           Policy Timing, Deficit Targeting, and Stock Market Effects

Section 3.4:           Monetarism, New Classical Theory, and Supply Side Economics

Section 3.5:           Open-Economy Macroeconomics