ECON 202

Principles of MACROECONOMICS

Syllabus
Spring 2015
Updated March 26, 2015

PHIL MARTINEZ, Instructor PHONE: 463-5158 OFFICE: CEN 419C OFFICE HOURS: MWF 11-12:00, TTh 10:30 - 11:30 or by appointment E-MAIL: martinezp@lanecc.edu WEB PAGE: http://media.lanecc.edu/users/martinezp

Course Description

This is the third course of the three principles of economics courses offered at LCC. The course introduces the basic principles of macroeconomic analysis and policy. The course is designed to provide an understanding of the functioning of the macroeconomy, and government macroeconomic policies and outcomes. Course material covers unemployment and inflation, the major macro policy prescriptions (Classical, Keynesian, Monetarism, Supply-Side and recent models) and the fundamental policy tools for both fiscal and monetary policies. The course also examines one to two major policy debates through additional reading assignments. Additional material and helpful links are available on my web page, accessible through the LCC web page.

Course Objectives

This course is designed to introduce students to the theoretical assumptions and framework of the macroeconomy as well as to prepare students for continuing their study of economics at the intermediate level. It is my goal to make all of the material understandable and relevant.

Requirements

Attendance is not required and will not be used as criterion for grading. However, economics is a very difficult class to learn purely by reading the text. Lecture material will often not coincide with the textbook. Assigned reading should be completed before the lecture.  In-class work may occasionally be assigned for points, so attendance can have a direct impact on total points and final grades for the class.

Examinations must be taken at the scheduled time. Make-up exams will only be given under exceptional circumstances, and you must notify me before you miss the exam.

There will be three exams: two midterms and a final. Each exam will have approximately 50 multiple choice questions worth 2 points each, and 3 short essay questions worth 10 points each. One of the essay questions will be extra credit.

In addition, the final exam will  10 multiple choice questions taken from the each of the midterms. Thus the point distribution will be approximately:

Homework               80 points*
Exam 1                  120 points*
Exam 2                  120 points*
Exam 3 (Final)        160 points*
TOTAL                    480 points*

Homework: There will be 3 to 6 graded homework assignments developed over the term. Together these will be worth approximately 50% to 100% off one exam, so approximately 60 to 120 total points.

Both midterm exams (Exam 1 and Exam 2) will be given in the Social Science Testing Center in CEN 456. The Testing Center is open M-Th from 9am to 7pm, and F 9am - 5pm. Each exam will be available for a 3 day period. Students take these exams on their own time. Lecture will continue on new material.

Grading: Grades are earned within the following scale.

A-, A, A+ 90% and above 

B-, B, B+ 80-89%

C-, C, C+ 70-79%

D 60-69%

F 59% and below

All other grade options (Pass/No Pass, Incomplete, Audit, Drop) are the responsibility of the student. Students wishing to drop the course must call ClassLine. The last day to drop classes is the Friday of the 8th week!

Disability Services: If you are in need of academic support because of a documented disability you may be eligible for academic assistance. Please contact Disability Services in the STUDENT SERVICES Building,, Bldg. #1, or call 463-5150 or TTY 463-3079.

Required Readings

Students are expected to read all of the assigned readings and are responsible for all of the material covered in each reading assignment. Besides the text, additional required reading material may be assigned and is available in the bookstore as a packet of articles.

Required Text:         The Economy Today, Custom Paperback for Econ 202, 13th Edition, Schiller, McGraw-Hill Irwin, 2013, OR  The Economy Today, Hardback, 13th or 12th Ed., Schiller, McGraw-Hill Irwin, 2009.

COURSE OUTLINE MACROECONOMIC ADJUSTMENT Ch. 8      The Business Cycle Ch. 9      Aggregate Demand Ch. 10     Self-Adjustment or Instability EXAM 1 Week 4 - tentative (Approx. 25% of grade*) FISCAL POLICY          Ch. 11      Fiscal Policy, and Debt Ch. 12      Surpluses, Deficits Ch. 16      Supply-Side Policy: Short Run Options EXAM 2 Week 8 - tentative (Approx. 25% of grade*) MONETARY POLICY Ch. 13     Money and Banks Ch. 14     The Federal Reserve System Ch. 15     Monetary Policy CONCLUSION Ch. 18     Theory and Reality (Time Permitting)      FINAL EXAM: in class (Approx. 35% of grade*) Homework & In class work (Approx. 15% of grade*)