Economics 201 Section 4

Economics 201 Section 4

Economics 201 Section 4

Macroeconomics

Fall 2004

Wednesday 6:00 – 8:30

Midway

"Economic progress, in capitalist society, means turmoil.”

-- Joseph A. Schumpeter

Instructor: / Allen S. Bellas, Ph.D.
Office: / Room 804, Minneapolis Campus, 730 Hennepin Ave.
Office Hours: / Wednesday 11:00 a.m. - 4:00 p.m., Thursday 1:00 p.m. – 4:00 p.m. at Minneapolis and 5:00 p.m. – 6:00 p.m. at Midway, Saturday 8:00 a.m. – 9:00 a.m. (at St. Paul) and by appointment
Messages: / 612-659-7272 (office) 612-659-7268 (fax). Please call my office to notify me of an incoming fax. Please include my name on all faxes you send. My e-mail address is:
Textbooks: / Macroeconomics by Baumol and Blinder (9th edition). The accompanying study guide by Swan is optional. Textbook can be ordered from or the bookstore (651-793-1670)
Eat the Rich by P.J. O’Rourke
My Web Site:
Grading: / Homework*
Midterm Exam #1
Midterm Exam #2
Final Exam / 25%
25%
25%
25% / *Your top 7 (of 9) homework assignments will be counted towards your final grade.

Course description: This course focuses on the economy as a whole and studies how government can affect the economy. After starting with principles of markets, the price system and supply and demand, the course covers national income accounting, business cycles, inflation, unemployment, fiscal policy, monetary policy and the Federal Reserve System, different approaches to economic growth, and the foundations of international trade. Prerequisite: College algebra competence.

Students requesting accommodations for disabilities must register with the Office for Disabilities and Special Services (651-793-1540) as early as possible. If you have a documented learning disability, or if you suspect you have a learning disability which may impact your opportunity to succeed in this course, call the Office for Disabilities and Special Services right away so that you can explore possible ways to reasonably accommodate your learning style.

DEADLINES/RULES

1) Class attendance is recommended but not required. Students usually find that attending class significantly enhances their learning.

2) I rarely give make-up exams; however I will make an exception if you have a valid reason (e.g. illness, family or business concerns) and contact me (via email or voice mail) no later than 24 hours after the start of the exam.

3) Make-up exams must be taken at the St. Paul (651-793-1533) testing center and completed within one week of the originally scheduled exam.

4) There will be absolutely no make-ups for homework. I will review the homework in class on the due date so if you turn the homework in late without my permission I will review it but you will not receive credit for it. If you are unable to attend class on the day an assignment is due you must arrange for submission of your homework assignment via fax, email, or postal mail.

5) Extra credit assignments are not offered.

6) Incompletes must be arranged with me prior to the last day of class and will conform to official university policy. A grade of incomplete may be considered if the person requesting has successfully completed at least half of the course and is a student in good standing in the course. “Good standing” means the requester is earning a passing grade (C- or better) and has attended class regularly. I reserve the right to refuse a request for an incomplete.

7) The last day to drop this class and request a refund is August 29, 2004.

8) The last day to withdraw from this class is November 14, 2004.

Class Schedule

Week / Topic / Readings
8/25 / Introduction to Economics, Graphs, Scarcity and Choice / Chapters 1 – 2
9/1 / Supply and Demand, Intro to Macroeconomics
Homework #1 due / Chapters 3 – 4
9/8 / Goals of Macroeconomic Policy
Homework #2 due / Chapter 5
9/15 / Economic Growth
Homework #3 due / Chapter 6
9/22 / Midterm Exam #1
9/29 / Income and Spending, Demand-Side Equilibrium / Chapters 7 – 8
10/6 / Supply-Side Equilibrium, Fiscal Policy; Homework #4 due / Chapters 9 – 10
10/13 / Money and the Banking System
Homework #5 due / Chapter 11
10/20 /

Monetary Policy

Homework #6 due / Chapter 12
10/27 /

Midterm Exam #2

11/3 / Monetary Policy vs. Fiscal Policy, Budget Deficits and the National Debt / Chapters 13 - 14
11/10 / Inflation and Unemployment, International Trade; Homework #7 due / Chapters 15 - 16
11/17 / International Monetary System
Homework #8 due / Chapter 17
11/24 / No Class - Thanksgiving
12/1 / Exchange Rates & the Macroeconomy
Homework #9 due / Chapter 18
12/8 / Final Exam

The final exam is scheduled for Wednesday, December 8 from 6:00 to 8:30 p.m. so do not buy any non-refundable plane tickets for travel before this date!

World Wide Web Economic Resources:

Your Textbook / Resources for Economists on the Internet / http://rfe.wustl.edu/EconFAQ.html
Bureau of Labor Statistics / http://www.bls.gov/
The Economist Magazine /
On the Issues /
Iowa Electronic Markets / http://www.biz.uiowa.edu/iem/
Central Banking Resource Center /
National Debt Clock /
US Congress / http://thomas.loc.gov/
Federal Reserve Board of Governors / http://www.federalreserve.gov/
The Dismal Scientist /

Other Things to Know about This Course

1) Homework assignments and exams will be in the form of short essay questions and problems. I do not use true-false, multiple-choice, or fill-in-the-blank questions.

2) I do not “take away” points when I grade; you earn points with your answers. Your score starts at zero and goes up, not at 100% and goes down.

3) You do not earn points by “fishing”. Correct, but irrelevant, statements earn no credit.

4) Your answers must be precise. Try to avoid non-specific words such as “it” or “this”. For example, do not say “it would not be good to do this”; rather “this economic policy would be ineffective because …”

5) I strongly recommend that you read the assigned chapters for a given week before that week’s class meeting.

6) Plagiarism is a serious matter that will not be treated lightly. Possible sanctions include warning, course failure or grade change, probation, suspension or expulsion. The following is an excerpt from the Student Handbook (http://www.metrostate.edu/handbook/academic.html):

Plagiarism

In simple terms, plagiarism is using another person’s words or ideas and presenting them as your own, without acknowledging the original source. This is a very serious offense and is grounds for expulsion.

Plagiarism often takes the form of a student copying information from one source and presenting it in a paper or report without the use of footnotes or direct mention of the source in the body of the paper. Naturally, students are expected to read and use a variety of sources when writing a paper, but when the exact words (or words with slight modification) or ideas of others are used, the sources should be properly acknowledged. When instructors read student papers, they want to know which ideas are the student’s and which belong to other sources.

It is also unacceptable to submit another person’s paper or examination as your own. In such cases, instructors may impose sanctions such as a failing grade. If you have questions about the use of footnotes or other notations, talk to your instructor, consult William Coyle’s Research Papers, available at the university bookstore or you can seek assistance in the proper way of writing a paper by contacting the Writing Center.

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