|
Syllabus
ECO112: Macroeconomics
Semester II, Spring, 2005-06
Course Introduction: Economics is the study of how societies choose to allocate scarce resources among competing uses. Many of the decisions we make are economic decisions, and many of our interactions with others are influenced by economic institutions. To understand the functioning of any economy, one must have a basic knowledge of Economics.
Macroeconomics is
the branch of economics that examines the economic behavior of the entire
economy. It deals with national income, national output, national employment and
so on. It is concerned with the study of real life economic issues and problems.
It teaches the macroeconomic issues such as unemployment, inflation, cyclical
business fluctuations, economic growth, the role of money, theories of interest
rates, stabilization policies, foreign exchange rates, balance of payments
difficulties, and comparative economic advantages among nations.
|
Course Contents:
- Circular flow of income & concepts of national income
- National Income Accounting
- Aggregate demand & aggregate supply analysis
- Keynesian Economics
- Unemployment & Business Cycles
- Money
- Rate of Interest
- Inflation
- Economic growth
- International Trade
- Comparative Advantage Among Nations
|
Course Objectives: Upon completing this course, the students will be able to:
- Explain the circular flow of income and the role of economic decision-makers.
- Analyze the various concepts of national income.
- Explain aggregate demand and aggregate supply and the determination of
equilibrium level of GNP.
- Explain the Keynesian Economics.
- Discuss the types, causes and costs of unemployment.
- Explain the role of money.
- Analyze the benefits, costs and the determinants of economic growth.
- Analyze the determination of the rate of interest.
- Assess the causes, costs of and remedies to inflation.
- Explain various types of foreign exchange rates.
- Analyze the causes and consequences of a balance of payments deficit and
policies to cure a BOP deficit.
|
Course Policies:
Attendance &
Academic Dishonesty: Attendance and all types of academic misconduct and their consequences are subject to the Skyline College regulations explicitly stated in the Student’s Handbook.
Penalties:
Quizzes: Student who failed to take a scheduled quiz receives zero points for this quiz. In case of an excusable reason (sickness or critical family matters) a re-take or a verbal test could be organized.
Assignments:
Assignments are due on the date specified in the assignment. Late submissions are penalized by the top-grade discounts.
Mid-Term & Final Exams:
Penalties, as well as all other regulations for these assessments are imposed according to current college policies.
Core text:
Paul A. Samuelson & William D. Nordhaus, (2002) Economics, 17th edition, McGraw Hill/Irwin, New York, USA
References:
|
Additional Reading, Reference Books:
- John Sloman, (2000) Economics, 4th Edition,
Prentice Hall, Europe.
- John B. Taylor, (1998) Economics, 2nd Edition, Houghton Mifflin, New York, USA
- Schillar B. R., (1999) The Economy Today, 7th Edition, Mc.Graw Hill/Irwin, New
York, USA
- David Begg, Stanley Fischer, Rudiger Dornbusch, (2000) Economics, 6th Edition,
McGraw Hill/Irwin, London, UK
- C.R. McConnell and Stanley Brue, (1999) Economics, 14th edition, McGraw
Hill/Irwin, USA
- M. Parkin, (2000) Economics, 5th Edition, Addison-Wesley, New York, USA
|
Internet related Sources:
4
http://dir.yahoo.com/Social_Science/Economics/
4
http://dmoz.org/Science/Social_Sciences/Economics/
4
http://catalogue.bized.ac.uk/roads/macroeco.html
4
http://www.helsinki.fi/WebEc/framee.html
4
http://rfe.wustl.edu/
4
http://www.economicsnetwork.ac.uk/links/othertl.htm
4
http://www.neiu.edu/~neiulib/websub/webbus.html
4
http://www.tutor2u.net/revision_notes_economics.asp
4
http://www.bized.ac.uk/virtual/economy/
4
http://www.digitaleconomist.com/
4
http://www.whitenova.com/thinkEconomics/
|
Assessments / Grading:
Students’ performance is assessed in each registered course out of 100 percent marks*. Current course grading will be based on the following weighted assessments:
|
Type of Assessment |
Weight Toward the Final Grade, % |
Schedule / Timing |
|
Quiz 1: |
5 |
Week
4 |
|
Quiz 2 |
5 |
Week
7 |
|
Mid-Term Exam
|
20 |
Week
8 |
|
Quiz 3: |
5 |
Week
10 |
|
Assignment |
10 |
Week
12 |
|
Quiz 4 |
5 |
Week
13 |
|
Participation & Attendance |
10 |
Weekly |
|
Final Exam
|
40 |
|
* - For the grading scale of 100: A is 90 points & above; B=80-89; C=70-89; D=60-79; F is 59 & below
Delivery Methods & Class Schedule : This course is delivered in the form of interactive lectures summarized in handouts and accompanied by transparency presentations. Most important issues within each concept and/or topic are clarified through discussions and class participation. Topics will be delivered according to the following schedule:
|
Week |
Concept/Topic |
Mode/Aid* |
Source: Core Text |
|
1 |
Overview of Macroeconomics
|
L / T / D / H |
CT 20, pp. 371-380, 385-389 |
|
2 |
Aggregate Demand & Aggregate Supply
|
L / T / D / H |
CT 20b, pp. 381-384 |
|
3 |
National Income Accounting
|
L / T / D / H |
CT 21, pp 390-410 |
|
4 |
Consumption, Saving, Investment
|
L / T / D / H |
CT 22, pp 411-431 |
|
5 |
Investment - Income Multiplier
|
L / T / D / H |
CT 24, pp 447-464 |
|
6 |
Business Cycles
|
L / T / D / H |
CT 23, pp.432-445 |
|
7 |
Functions of Money
|
L / T / D / H |
CT 25a, 25b pp. 465-482 |
|
8 |
Economic Growth
|
L / T / D / H |
CT 27, pp. 517-537 |
|
|
Mid-Term Exam |
|
Open Questions Test |
|
9 |
Labor, Unemployment
|
L / T / D / H |
CT 29, pp. 557-577 |
|
10 |
Inflation
|
L / T / D / H |
CT 30, pp. 578-602 |
|
11 |
International Trade. Balance of Payments
|
L / T / D / H |
CT 34a,34c pp.673-77, 682-87 |
|
12 |
Comparative Advantage Among Nations
|
L / T / D / H |
CT 35 pp. 688-711 |
|
|
Revision |
L / T / D / H |
|
|
|
Final Exam |
|
MCQ’s |
* - L=Lecture; T=Transparency; D=Discussion; H=Handouts;
CT=Chapter
Last modified on January 21, 2006
|
