Department of EconomicsSyllabus for Economics 202.01 8:00 a.m.Spring Quarter 2009Instructor InformationProf. D.W. HedrickOffice: Shaw-Smyser 420, 963-2426, [email protected], Office Hours: M & F 10:00-11:00 a.m. and T & TH 2:30-3:30 p.m. and by appointment.Web Page: www.cwu.edu/~dhedrick/ Course Description:This course provides an introduction to the organization of the U.S. economy, long-run economic growth and short-run economic fluctuation, the structure and role of the monetary system, the problems of unemployment and inflation, and the overall impact of government spending and taxation on the macroeconomy. Statement of PurposeThe principal objectives of the course are to provide students with an understanding of the macroeconomy. Students will become familiar with basic forces behind economic growth and short-run fluctuations in market economies and the basic techniques of modeling overall economic activity. They will develop an appreciation for the challenges economists and policymakers face in using monetary and fiscal policies to alter short-run economic performance and to create policies to help foster long-run economic growth. Students will also be introduced to the importance and the impacts of international trade and finance in modern market economies.Course Outcomes1. Apply graphing skills to analyze macroeconomic models. These skills include an understanding of slope and its computation, curve shifts and movements along a curve, and the ability to draw inference from graphs.2. Utilize quantitative techniques in the analysis of macroeconomic models. These techniques include manipulating and solving simple linear systems of equations, and computing growth rates.3. Apply economic theory to contemporary macroeconomic policy issues.4. Identify, explain trends in, and explain the relationships between the following macroeconomic variables:- GDP (real and nominal)- Sources of economic growth (including capital accumulation, technological innovation, and productivity growth)- Inflation- Unemployment- Fiscal policy (including government spending, taxation, budget deficits, and national debt)- Monetary policy (including money supply, interest rates, and the structure of the U.S. banking system)- Consumption spending, saving, wealth, and investment- Exchange rates, exports, and importsTextbookThe textbook and homework assignments are available online through Aplia. See instructions below for registration and payment.Required: (1) On-line Mankiw, N. Gregory, Principles of Macroeconomics Economics, 5th Edition, Thomson – SouthWestern, c2008, (2) Aplia – An internet-based tutorial and homework problem that will be used for the required homework.SEK5-JT8R-75VB(3) Hakes, David , Study Guide to Accompany Principles of Economics. Buy on-line.Suggested Reading: The Wall Street Journal and the EconomistCourse RequirementsBy virtue of enrollment in a College of Business Course class, all students are required tocommit themselves to learning the material and to acting in a civil manner in class and berespectful of their peers and the professor. Behaviors contrary to the above will result in disciplinary action and possible expulsion from the class. Attendance is not required but strongly encouraged. Satisfactory performance on these assessment tools entails graphical, qualitative, and quantitative analyses of contemporary macroeconomic policy issues, as well as an understanding of the variables listed in outcome #4.Grades will be based on twice-weekly online homework assignments, weekly quizzes, three mid-term examinations, and an optional comprehensive final examination. Important: No makeup quizzes will be given for any reason. Makeup midterms and finals will only be given for emergencies and require a note signed by a physician or a senior officer in Student Affairs.Satisfactory performance on these assessment tools entails graphical, qualitative, and quantitative analyses of contemporary macroeconomic policy issues, as well as an understanding of the variables listed in outcome #4.Each week online homework sets will be assigned using the innovative online service provided by Aplia. Using the following Course Key: T4LZ-EQ9E-JXVS, students will subscribe and setup and individual Aplia account (http://www.aplia.com). The textbook bundle from the bookstore includes an Aplia access code and no payment is required. If not, they will need to make their payment directly to Aplia.The initial Aplia assignments include a tutorial on mathematics and graphs. Please read the section on Grade It Now in the introductory assignment. Aplia allows students three opportunities to answer a question with explanation provided when a wrong answer is given. Full credit is given if the first response is correct. The partial credit formula is described in Aplia.The Aplia program is self-contained and includes 24 hour online and toll-free telephone support. Students who do not have computers at home or a high-speed internet connection are encouraged to use the CWU computer labs. The schedule for the computer labs can be viewed at http://www.cwu.edu/~labstats/AllLabHrs.html. The lowest 4 homework assignments will be dropped and the remaining homework assignments will count for 100 points.A total of seven weekly quizzes will be given on Friday, excluding the weeks of midterms. Each quiz will count for 20 points and the lowest two quizzes will be dropped. The total points from quizzes will be 100 points.Three midterm examinations will be given. The midterms dates are Friday, April 24; Friday, May 15 (uncontested withdrawal deadline); and Friday, June 5. If you cannot attend class on these dates, drop the class and take it at another time. Each midterm will count for 100 points. An optional comprehensive final examination will be given. The optional final will countfor 100 points and be used to replace the lowest midterm score. The final dates are:8 a.m. class: Thursday, June 11, 8:00-9:30a.mNO early or makeup finals will be given. Course GradingBased upon the percentage of the 500 possible points from quizzes, Aplia homeworks, midterms and the optional final. The following scale will be used to determine the final grade:A >=93%A- >=90% and <93%B+ >=87% and <90%B >=83% and <87%B- >=80% and <83%C+ >=77% and <80%C >=73% and <77%C- >=70% and <73%D+ >=67% and <70%D >=63% and <67%D- >=60% and <63%F <60%Course Outline (Subject to change as circumstances indicate)Topic Text Chapter(s)I.