Dyson College of Arts and Sciences

3

PACE UNIVERSITY

DYSON COLLEGE OF ARTS AND SCIENCES

DEPARTMENT OF ECONOMICS

Economics 105 Dr. Shostya

Principles of Macroeconomics e-mail:

Fall 2013 Lab Instructor: Stephen Franchini

e-mail:

Course Description

Theory of economy-wide phenomena, including inflation, unemployment, and economic growth.

Text

O’Sullivan, Sheffrin, Perez. Macroeconomics: Principles, Applications, and Tools. 8th edition. Pearson/Prentice Hall. 2014. (Alternatively, you can buy an electronic version of the book with MyEconLab, which is less expensive).

MyEconLab – mandatory!

Content Objectives

Upon successful completion of this course you can expect to:

·  Have acquired a basic knowledge of economic society, from the vantage point of the economy as a whole, or macroeconomy

·  Have an essential understanding of how the overall quantity of production and the overall price level are used to monitor developments in the economy

·  Understand the forces that determine key variables, including growth in GDP, saving, investment, real interest rates, and unemployment

·  Attain a greater understanding as to how banking system generates money and better comprehend the role of money in the economy

·  Understand and distinguish short-run and long-run economic fluctuations

·  Understand why monetary policy and fiscal policy are crucial in determining the behavior of key variables in the economy

·  Understand the origins and evolution of the 2007-2009 financial crisis and its effect on the US economy, advanced countries, and emerging markets

·  Understand the changes in the U.S. monetary policy that took place since the global financial crisis.

·  Have acquired a basic knowledge of the US-China economic relationship and the role China plays in the world economy.

·  Have acquired a basic knowledge of the fiscal and monetary problems faced by the EU

Learning Objectives

In the course of this semester you can expect to have developed or improved:

·  the ability to think rationally and abstractly, utilizing skills such as model building and decision making techniques

·  analytical techniques such as logical inquiry, comparative analysis, and basic quantitative and graphic skills.

Grading Policies*

Participation – 5%

Lab work -- 15%

5 Homeworks (MyEconLab) – 20%

4 Quizzes – 20%

Final Exam -- 40%

*Please note: There will be no mark on any sort of a curve. I adhere to the grade allocation given by the registrar’s office (with additional refinements up to me):

A – 90% and above

B – 80% to 89%

C – 70% to 79%

D – 60% to 69%

There will be 5 quizzes, the one with the lowest score will be dropped. There will be no make-up quizzes/exams given under any circumstances. If for some reason you cannot come on the day of the quiz, the missed quiz will be dropped as the one with the lowest grade. If you miss more than 3 quizzes, you will fail the course. Absence on the final exam is allowed only due to serious illness or family emergency substantiated with adequate documentation. In this case an incomplete grade will be assigned and the exam may be taken on the official college make-up exam date. Absence on the final without notification of the instructor will lead to a failure in the course.

Academic honesty is expected at all times. Cheating on a quiz/exam will result in failure in the course without further discussion.

Attendance and Lateness Policy

An occasional absence is certainly possible for any student, however habitual absences are not permitted. After two absences, each additional one will result in 2 points being deducted from your final grade (unless you have an emergency adequately documented).

Lateness is disturbing to the instructor and to your fellow classmates. Persistent lateness will not be tolerated. Starting with the third one, each lateness will result in 1 point being deducted from your final course average.

Lab Session Policy

Lab sessions are a very important component of the course. An Attendance and Lateness Policy applies to the lab sessions as well. It is crucial that you come prepared to the sessions, so you could participate in all the discussions and ask questions. If you want to get a participation credit, make sure your teacher knows your name.

MyEconLab

MyEconLab, the new standard in personalized online learning, is an essential part of this course. Within its framework, you can practice what you learn, test your understanding, and identify areas in which you need further work. It is important that you utilize the package fully! There will be 6 HWs assigned, but only 5 will be graded. No late HW is accepted under any circumstances. DO NOT e-mail me about your last minute computer failures, memory lapses, or your dog’s eating habits. I cannot possibly make any adjustments on individual basis – all settings are done for the entire class and cannot be altered. IF YOU FAIL TO BUY MYECONLAB ON TIME, THERE WILL BE NO WAY YOU CAN MAKE UP ANY MISSED HWs.

Course Outline (Wednesdays)

Quiz Schedule (Mondays)

Quiz 1 – October 7th

Quiz 2 – October 21st

Quiz 3 – November 7th

Quiz 4 – November 18th

Quiz 5 – December 9th

General Information

Eco 105 is not an easy course and requires regular, consistent time an effort. That is not to say that the course must be unpleasant. If you are willing to carry the workload required of you, there will be no reason why you should not receive a good grade in this course. If you see that you are having difficulty with the coursework, advise me or your lab session instructor as early as possible and we will try to make suggestions and schedule you for additional work during our office hours. In addition, the Tutoring Center, has a very flexible schedule (will be posted on Blackboard later on) and excellent tutors (my former students).

P.S. Cell phones, ipods, and ipads will not be tolerated in class! Please, turn them off before you enter the classroom and keep them away from my sight. (Ask me about my policy regarding cell phones). If you use a laptop in class, e-mail me the lecture notes at the end of each lecture. Otherwise, I will deduct points from your final grade.