1 Florida International University Department of Economics ECO 3202 Applied Macroeconomics, Spring 2011 Instructor: Umut UNAL Office: VH 136 Email: [email protected] Website: www.fiu.edu/~uunal Phone: (305) 348 - 2316 Lecture hours: MWF 10:00 - 10:50 at CP 197 Office hours: F 11:15 – 13:15 or by appointment Course objective and description: This course emphasizes the conceptual tools to analyze the economic problems facing modern society and the models used for policy-making decisions. Taking this course will allow you to become knowledgeable of, and able to critically think about, the major macroeconomic issues of unemployment, recessions, inflation, monetary policy, fiscal policy, budget deficits and surpluses, business cycles and economic growth. Important: The student taking this class should feel comfortable with basic mathematical tools such as multivariable functions, graphs and calculus. If you have any problems regarding those, please take action as soon as possible. Required text: Macroeconomics, 7th ed., by Andrew B. Abel, Ben S. Bernanke and Dean Croushore, Adison Wesley Publishers, 2010, ISBN-13: 978-0136114529. The Companion Website for the text is http://www.pearsonhighered.com/abel_bernanke/. Grading: • There will be two midterm exams and a final exam; each exam will account for 25% of the course grade. These exams can include multiple-choice questions as well as short-answer questions and problems. The format of each test will be announced in class before the test.2 • There will be two quizzes; each quiz will consist of 20-30 multiple-choice questions. The quizzes will constitute 25% of the course grade. • There may also be homework assignments which will earn you extra credits. • Grading Scale: A 92-100, A- 90-91.9, B+ 88-89.9, B 82-87.9, B- 80-81.9, C+ 78-79.9, C 72-77.9, C-70-71.9, D+ 68-69.9, D 62-67.9, D- 60-61.9, F 0-59.9 Course Content: • The following chapters will be covered: Math Review Ch.1: Introduction to Macroeconomics Ch.2: The Measurement and Structure of the National Economy Ch.3: Productivity, Output, and Employment Ch.4: Consumption, Saving, and Investment February 4th, Midterm Exam 1, Chapters 1,2,3,4 Ch.6: Long-Run Economic Growth Ch.7: The Asset Market, Money and Prices Ch.8: Business Cycles Ch.9: The IS-LM / AD-AS Model: A General Framework for Macroeconomic Analysis March 11th, Midterm Exam 2, Chapters 6,7,8,9 Ch.12: Unemployment and Inflation Ch.13: Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy Ch.14: Monetary Policy and the Federal Reserve System Ch.15: Government Spending and Its Financing Final Exam TBA Course Policies: • Regular attendance of classes is strongly recommended. I might make some changes in exam and quiz dates and material, etc. If you somehow miss a class, it is your responsibility to know about such in-class happenings. I will never respond to the emails asking about the chapters you are responsible in the exam!!!3 • When you send me an email, please include ECO 3202 in the subject line. If you contact me via email, you can expect me to respond within 24 hours not in 5 minutes. • Please turn your cell phones and other electronic devices off prior to entering the classroom and do not bring your laptop. • No books, notes, problem sets, cell phones, Blackberries, laptop computers, nor any other materials may be consulted during exams. You may not wear baseball caps, any other head gear, or iPods to the exam. You must also bring your Student ID to the exam. • The University has an honor code to ensure the academic integrity at FIU. Any student caught cheating on an exam or engaging in unethical behavior will receive a grade of F for the course and the dean will be notified and asked to pursue further action. (I am serious as a heart attack about this) • If you forget to bubble your name or ID number on the exam scantron, you will definitely get zero for that exam. • Use pencil in the exams!!! If you bubble your name, ID number and the answers with a pen, you will definitely get zero for that exam. (This issue is completely technical) • No late make-ups will be given. A legitimate excuse will be needed to qualify for an early make-up. A student who misses an exam or quiz due to an emergency should submit written documentation about the emergency to qualify for a ‘no-grade’ (no-grade means that that particular test or quiz is not counted in the calculation of the course grade). A business related absence does not qualify for a ‘no-grade’. • If you have a disability and need assistance, please contact the Disability Resource Center (University Park: GC190; 305-348-3532). Upon contact, the Disability Resource Center will review your request and contact your instructor or other personnel to make arrangements for appropriate modification and/or assistance. Best of