Instructor: Dr. Monica HartmannMacroeconomics Class Schedule for Fall 2011:3:25-5:00 Location – OEC 208X. Macro Policy Debate, Chapter 17XI. Federal Budgets and Public Policy, Chapter 13Econ 251: Principles of MacroeconomicsInstructor: Dr. Monica HartmannMacroeconomics Class Schedule for Fall 2011: 1:30-3:10 Location – OEC 2043:25-5:00 Location – OEC 208 Contact Information:Office Hours: M 2-2:45, TH 11-12 p.m., and by appointment; OEC 402Office Phone: 962-5681E-mail: [email protected] Class Website: https://courseweb.stthomas.edu/mehartmann/macro/macro_econ.htmlCourse Description: This is an introductory course in macroeconomics. Although you may notrealize it, you already have been exposed to many of the topics we discuss in this class. Tradedeficits, inflation rates, unemployment rates, fiscal policies, and monetary policies are some ofthe macroeconomic terms that appear in the media and in everyday conversations. Course Objective: At the end of this course, you should be able to understand both theeconomic principles underlying the macroeconomy and to be able to apply these principles to'real world' situations. In order to accomplish these objectives, many of the examples used in myhomework assignments and test questions are based on current events. I also supplement thetextbook with assigned readings from the Wall Street Journal and the Economist. These articlestogether with the textbook will help you better understand macroeconomic concepts and theirapplications.Upon completion of this course you should be able to do the following:1. Describe the basic economic problem of scarcity and apply the notion to real world situations.2. Use demand and supply model to explain and predict price changes of a good or service.3. Be literate in macroeconomic topics, such as unemployment, inflation, recessions, GDP, and international trade.4. Understand measures and causes of economic growth.5. Know the role of the Federal Reserve Bank in the U.S. economy, understand the nature ofmoney, and understand what affects interest rates.6. Understand and explain how fiscal and monetary policies affect the economy.7. Research and write a basic analysis of how economic, socio-cultural, and legal-political forces affect economic performance.8. Learn the economic way of thinking and how it can be used to gain insights on macroeconomic issues of importance in your adult life, such as trade tariffs on imported steel imposed by Bush and Obama’s fiscal policies to stimulate the economy.Prerequisite: Knowledge of basic algebra and ability to read graphs and most importantly enthusiasm to learn. Textbook: McEachern, Macroeconomics – UST Bookstore Economic Report of the President – http://www.gpoaccess.gov/eop/download.html In addition to the textbook, I will periodically assign newspaper or journal articles that relateto the topics discussed in class. These supplemental articles are an essential part of thiscourse. A copy of them can be downloaded from the class web page.Class Website: https://courseweb.stthomas.edu/mehartmann/macro/macro_econ.htmlAssignments, answer keys, and supplemental readings will be posted on this website.Grading: Midterm 1 15% Midterm 2 20% Final 25% Writing Assignment 20% Class Participation 10% FOMC Simulation 5% Homework 5%The exams comprise of multiple-choice questions, numerical problems, and short answers. Ifyou have any questions concerning the grading of your work, please come see me. You have twoweeks from the date I return homework or exams to the class to ask me to reexamine the grade.After the two weeks, grades are final.Exam Policy: Make up examinations only will be given in the event of a severe illness(including the influenza like illness), death in the family, or a University sponsored activity. Youmust speak directly to me at least 24 hours prior to the exam. Leaving a message on my voicemail or sending me email is not sufficient. If approved, we will reschedule the exam at amutually convenient time. If no arrangements have been made prior to the scheduled exam time,no make-up exam will be given without a medical excuse. You will receive a zero for that grade.Also note that possessing a nonrefundable plane/train/bus ticket is not a valid excuse for a make-up exam.Exam dates are listed on the course outline. These dates are subject to change, but I willannounce in class any change with at least one-week notice. You are responsible for allinformation – lecture material, handouts, assignments, and announcements – given in classregardless if you are present.Disability Services: Qualified students with documented disabilities who may need classroom accommodations should make an appointment with the Enhancement Program – Disability Services office. Appointments can be made by calling 651-962-6315.You may also make an appointment in person in O’Shaughnessy Educational Center, room 119. For further information,locate the Enhancement Program on the web at http://www.stthomas.edu/enhancementprog/. Homework: Homework assignments are designed to give you the opportunity to practice using macroeconomic concepts before the exam. I encourage you to work on homework assignments with other students. However, you must individually write up separate answers in your own words. You can drop the lowest homework grade.Grading of Homework: I view homework as part of the learning process, a first attempt to process ideas and apply them to real world events. Therefore, the economic analysis in the assignment does not have to be completely correct to get a 100%. However, you must rememberthat the assignment you turn into me is a work product of your effort and should be legible, neat, and demonstrate that effort was made in its completion. Thus, this is how I grade homework. Adequate work - Assignment is complete (but not necessarily 100% correct), legible, neat, and presented in a professional manner. You are not required to type up assignments, but they must be neat and legible. If you need to make corrections, do not cross it out. Use correction fluid (i.e., “White Out”)