Economics 211 section 16976: Macroeconomic Principles (Fall 2011) Monday, Wednesday, and Friday, 11-11:50am in room I2-104 at GCC Instructor: Aleksander “Sasha” Radisich Office: 05-108 Office Hours: Monday through Friday, 9:30-10am and 1-1:30pm Office Phone: (623) 845-4765 Department: (623) 845-3685 E-Mail: [email protected] Textbook: Baumol and Blinder, Macroeconomics (optional) Official Course Description: A descriptive analysis of the structure and functioning of the American economy. Emphasis on basic economic institutions and factors that determine national income and employment levels. Consideration given to the macroeconomic topics of national income, unemployment, inflation and monetary and fiscal policies. Prerequisites: None. Course Objectives: This course will introduce economic thought, theory, and analysis. Specifically, 211 addresses topics in macroeconomics: the study of the overall economy and how it works as a unit. Do not let the theoretical framework fool you: this course intends to provide you with solid tools for analyzing real-world problems that countries and economies face every day. The official course competencies can be found online at http://www.maricopa.edu/curriculum/D-L/072ecn211.html Attendance Policy: Attending class is mandatory for success. The material in this course is difficult to absorb and will often require guidance. Furthermore, future topics in this course build on past topics, so falling behind will often lead to an insurmountable deficit of knowledge. Failing to attend class more than three times may result in my withdrawing you from the class. If you absolutely cannot attend class, be sure to come to my office hours to discover what you missed. Also, get a copy of the notes from someone else in the class so that you don’t fall as far behind. Quizzes: We will have multiple choice quizzes throughout the semester, each covering a designated topic from the course. You will take these quizzes online (through Blackboard, linked on the GCC home page) during a one-week window of opportunity; I will inform you in class when each quiz is available for you to take. While quizzes cannot be made up for any reason, I will drop your lowest quiz score. The quizzes will determine 10% of your final grade. These quizzes are designed as a learning experience, and you should use your results on them to help focus your studying where it will benefit you the most. Midterm: We will have a comprehensive midterm examination in class on Wednesday, October 26th. This exam will be worth 40% of your final grade in this class.Final: Our final examination will be on Wednesday, December 14th, at 11am. It will determine 50% of your final grade in the class. The final will be a two-hour comprehensive examination of all materials from the entire semester. Grading: This class will be curved. In rough terms, the top 10% of students will earn an “A” and the next 20% will earn at least a “B.” Extra credit can only be earned on quizzes and tests. The curve will never hurt you – it only helps. In the interest of fairness, I offer no outside extra credit to anybody. Course Outline: 1. Introduction to Economics a. What Is Economics? b. Economic Myths, Economic Truth c. Circular Flow Model d. Supply and Demand 2. Aggregating Supply and Demand a. Introduction to Macroeconomics b. The Goals of Macroeconomic Policy c. Aggregate Demand and the Powerful Consumer d. Demand-Side Equilibrium: Unemployment or Inflation? e. Supply-Side Equilibrium: Unemployment and Inflation? 3. The Economic Role of the Government a. Fiscal Policy b. Monetary Policy c. The Debate Over Monetary and Fiscal Policy d. Budget Deficits in the Short and Long Run e. The Trade-Off Between Inflation and Unemployment f. The Great Recession: What Just Happened?? Audio Taping: I allow the audio taping of my classes at any time. Discipline: Disciplinary standards in this course will be maintained as per the current GCC student handbook. Disability Statement: The college will make reasonable accommodations for people with documented disabilities. Students should notify the Disabled Student Resources Office and their instructor of any special needs. Disclaimer: Course content may vary from this outline to meet the needs of this particular