1 Course Outline Econ 104 Introduction to Macroeconomics Course Description Four 4 credit hours Fulfills the UMass Amherst Social World General Education Requirement This is an exciting and eventful time to be studying macroeconomics Current events of the past several years have called into question the dominant mainstream theory of the past thirty plus years The lectures will build a foundation of theoretical understanding about how the Macro economy works We will introduce mainstream neo classical theory of the macro economy as well as some important critiques from the heterodox tradition Discussions will be utilized for review class assignments and some problem solving but will mostly involve additional readings on important issues of our time Jobs Deficits Income Inequality and the Global Financial Crisis The study of Economics involves many abstract concepts which requires students to master new tools of understanding Topics relating to unemployment inflation policy choices the financial crisis and growth versus sustainability lend themselves handily to critical inquiry as well as important questions facing individuals and society today Any discussions related to the above typically illuminate how outcomes result from complex relationships of individuals their behaviors and social institutions Is this course for you This course requires a basic understanding of internet browsing email and word processing With these you should have little trouble learning how to use Blackboard the learning management system used for the course The online discussion component of the course provides the opportunity to develop your ideas in collaboration with others This course involves a lot of written work At the end of each module you will be required to post responses to discussion questions to comment on others responses There will be four 4 assignments a final paper a midterm and a final exam Discussion questions must be completed in a timely manner if you are to receive full credit Note that the discussions will close once the window for them has passed Given the fast paced nature of the course deadlines for this course will be strictly enforced Failure to meet scheduled requirements may put you at serious risk of failing the course a significant waste of time energy and money If you have a documented learning disability please contact the course instructor during the first week of class about accommodation With the above points addressed that s it for technical details read below for information on readings information on how you will be evaluated and finally a class schedule Good luck Your instructor is here to help you may email the instructor directly or post to the troubleshooting discussion board with any questions about the course logistical substantive or otherwise Texts Paul Krugman and Robin Wells Macroeconomics 4th Edition or newer Edition Additional readings are available as files through the course site 2 Students are expected to be knowledgeable of current economic issues This can best happen through regular reading of a national newspaper such as the New York Times or the Wall Street Journal Grades Grades will be based on the following discussion forums assignments a short paper a mid term exam and a final exam The exams will consist of short answer essays graphing mathematical computation and multiple choice questions The weights for the assignments are as follows Midterm Exam 25 Final Exam 25 Paper 10 Discussions 15 Assignments 25 Final grades will be computed as follows A 94 100 A 90 93 B 80 83 Assignments This course will rely on Blackboard to inform you of assignments readings exams and any other course announcements Paper Assignment Find an article in a newspaper or magazine related to some issue in economics This article should be macro in nature The article does not have to be immediately current but should not be more than two years old Articles about presidential campaign issues related to economic policy or about the current economic issues would work well Check with your instructor if you have any questions about the viability of your chosen article B 87 89 C 77 79 D 60 69 B 84 86 C 70 73 C 74 76 F 0 59 1 The paper should include a brief summary of the article s 2 The paper should relate the current event as reported by the article to some theoretical aspect as presented by the textbook Use charts graphs or theory to illuminate this connection 3 This paper should be about 3 pages typed 4 The paper should include and properly formatted bibliography 5 The due date will be indicated on Blackboard Discussion Forums You are required and expected to participate in the discussion forums Make sure to respond to discussion questions by the due dates Course Schedule See the course schedule below subject to revision Module No Intro Welcome to the Course To do Topics Blackboard Course Content Assignments Due 1 The Macroeconomy 1 Assigned Readings 3 2 Unemployment Inflation 1 Assigned Readings 3 Income Expenditure AD AS Review the course syllabus and get familiar with Blackboard Introduce yourself on the General Discussion Board Krugman Chapter 6 Macroeconomics The Big Picture Krugman Chapter 7 GDP and CPI Tracking the Macroeconomy Beyond GDP Stiglitz GDP Fetishism Professor Gerald Epstein on GDP Econ 104 on YouTube Wealth Inequality in America Perception vs Reality Krugman Chapter 8 Unemployment and Inflation pp 217 229 Peck How a Jobless Era Will Transform America Watch Roger and Me under library resources 2 Videos 233 241 2 Videos 3 Activities What s the real price 1 Assigned Readings Krugman Chapter 11 Income and Expenditure Keynesian Cross in Excel worksheet 2 Videos Watch The Great Depression and the Keynesian Revolution Prof Crotty on Keynes Econ 104 on YouTube Prof Epstein on Planned vs Unplanned Spending Econ 104 on YouTube Prof Epstein on the Income and Expenditure Model Econ 104 Assignment 1 GDP Graphing and Excel Sep 15th 2019 Discussion Forum Response for A Nation s Success Sep 15th 2019 Assignment 2 Unemployment Data Sep 29th 2019 Discussion Forum Response for Roger and Me Sep 29th 2019 Assignment 3 Keynesian Cross Oct 20th 2019 Discussion Forum Response for The Great Depression and the Keynesian Revolution Oct 20th 2019 Module No Topics Blackboard Course Content Assignments Due 4 Aggregate Demand Supply 4 Fiscal Policy Savings and Investment and the Financial System Savings Investment and the Financial System Prof Epstein on the Income and Expenditure Model