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Principles of Macroeconomics

Department of Economics
Course Syllabus: EC 103 Online
Principles of Macroeconomic 


Office Hours:


Taeko Nakashima (Fukuda), Ph.D.

TBA (Armitage Hall – 332)

taeko.fukuda@rutgers.edu, tae@sfc.keio.ac.jp

(Email contact is strongly preferred; Please use your Rutgers email and always mention the course number in your mail. During the weekdays, I normally respond within 48 hours. If you do not hear back within 48 hours, please send a follow-up email.) 


Course Goals

This course introduces the fundamentals of Macroeconomics. You will learn the basics of  economic models that are designed to explain certain macroeconomic phenomena and problems such as growth, output, unemployment, money supply, and inflation.

After completing this course students will have a basic understanding of the material covered and be able to apply economic principles, concepts, ideas and ways of thinking to their everyday life.

Teaching Methods

PowerPoint Slides; Discussion Forums; Internet Resources, Streaming Videos


Self-discipline in meeting deadlines, persistence in working through problems independently, and ability to communicate effectively through the written word at the undergraduate level in the online environment. 


  1. Gregory Mankiw, Brief Principles of Macroeconomics, 7th Edition. 2014
    (Buy with access code to Aplia)

Grade Components and Final Grade Calculation

Your grade in the course will be determined as follows:

Assessment Component

Weight in percent

Quizzes (3)

Midterm exam

Final exam

Online Homework

Student Discussion Forums (4)

15% (5% each)




20% (5% each)

There will be 3 Quizzes comprising of 20% of your course grade. Quiz 1 will be at the end of week 4 on Chapters 5, 6 and 7. Quiz 2 will be at the end of week 10 on Chapters 11 and 12. Quiz 3 will be at the end of week 14 on Chapters 13 and 14. In week 7, there will be a Midterm from Chapters 5 through 10 comprising of 20 % of your course grade. In week 16, there will be a Final Exam from Chapters 11 through 17 comprising of 25 % of your course grade.

15% of your grade will be based on your online homework, which will be assigned almost every week. In order to complete your online homework, Quizzes, Midterm and Final Exams, you will need to gain access to Aplia. The following are options to gain access to Aplia for doing your online homework.

  1. Buy paperback textbook with package – Aplia
    ISBN: 9781305521179
  2. Buy e-textbook with package – Aplia
    ISBN: 9781285854540
  3. Buy loose leaf version with package – Aplia
    ISBN: 9781133540663

Every online assignment will be open for at least 7 days. After the due date you can no longer access your online assignments. In order to register to Aplia you will need the Course ID.

In all, there will be 4 Student Discussion Forums. In week 3, week 6, week 10 and week 14 the Student Discussion Forums will be open on Sakai. The initial post of the discussion forum must be submitted on Friday by 11:59 PM of the respective week. Two reaction posts are due on Sunday by 11:59 PM. The rules of the Student Discussion Forum will be explained in detail on Sakai.

I may be making some additional posts throughout the semester, but you do not have to respond. However any reactions or responses are always welcomed.

Most importantly, all assignments are time sensitive. Hence, students are advised to log in to both Sakai and Aplia at least once a day. 

Letter grades for the entire course will be assigned as follows:

Final Grade Rubric








B +


90 – 100

85 – 89.99

80 – 84.99

C +



75 – 79.99

70 – 74.99

60 – 69.99


0 – 59.99


Course Policies
Missed Examinations and / Assignments   

There will be no make-up tests under any circumstances! If you miss a test, the test will be scored as a “zero”.

Academic Violations

I follow a policy of zero tolerance for violations of standards of academic conduct. Please refer to the following document on Rutgers Academic Integrity Policy


Disability Statement

“Rutgers University welcomes students with disabilities into all of the University’s educational programs. In order to receive consideration for reasonable accommodations, a student with a disability must contact the appropriate disability services office at the campus where you are officially enrolled, participate in an intake interview, and provide documentation:

https://ods.rutgers.edu/students/documentation-guidelines. If the documentation supports your request for reasonable accommodations, your campus’s disability services office will provide you with a Letter of Accommodations. Please share this letter with your instructors and discuss the accommodations with them as early in your courses as possible. To begin this process, please complete the Registration form on the ODS web site at:





Subject – Topic 

Reading: Textbook (mandatory)


Week 1

Ten principles of Economics and

Thinking like an economist

Textbook: Chapter 1&2

HW: Chapters 1&2

Open Conversation

Week 2

Mearsuring a nation’s income

Textbook: Appendix Ch. 2 Chapter 5

HW: Chapter 5

Week 3

Measuring the cost of living

Production and Growth

Textbook: Chapters 6&7

HW: Chapters 6&7

Discussion Forum 1

Week 4

Textbook: Chapters 5, 6 and 7

Quiz 1: Chapters 5 ,6 and 7


Week 5

Saving, investment, and the financial system

The basic tools of finance

Textbook: Chapters 8&9

HW: Chapters 8&9

Week 6


Textbook: Chapters 10

HW: Chapters 10

Discussion Forum 2

Week 7

Textbook:  Chapters 5 though 10 

Midterm Exam:

Chapters 5, 6, 7, 8,9 and 10

Week 8

The monetary system

Money growth and inflation

Textbook: Chapters 11& 12

HW: Chapters11&12

Week 9

Open-economy macroeconomics :basic concepts

A macroeconomic theory of the open economy

Textbook: Chapters 13 & 14

HW: Chapters13 &14

Week 10

Textbook: Chapter11,12

Quiz 2: Chapters 11 &12

Discussion Forum 3

Week 11

Aggregate demand and aggregate supply

Textbook: Chapter 15

HW: Chapter15

Week 12

Textbook: Chapters 13,14

Quiz 3: Chapters 13 & 14


Week 13

Thanksgiving Break



Week 14

The influence of monetary and fiscal policy on Aggregate demand

Textbook: Chapter 16

HW: Chapter 16

Discussion Forum 4

Week 15

The Shor-run trade-off between inflation and unemployment

Textbook: Chapter 17

HW: Chapter 17

Closed Conversation

Week 16

Textbook: Chapters 11though 17

Final Exam: Chapters 11, 12, 13, 14, 15, 16 and 17