University of Vermont EC 11: Principles of Macroeconomics

University of Vermont
EC 11: Principles of Macroeconomics
Term: Spring 2010
Instructor: Dr. Maharouf Oyolola
Time: MW 8:00AM- 9:15AM FLEMIN 101
Office: Old Mill Room 229
Phone: 802-656-0640
Office Hours: M 1:00PM-2:00PM
Email: [email protected]
Etiquette:
 In email and in class, address me as “Professor Oyolola.”
 In writing email, please just start off with “Dear Professor Oyolola.”
Course Description
Macroeconomics is the study of the effects of the overall economy on the choices that
individuals, businesses, and governments make. This course provides students with the tools to
understand the functioning of the economy. It deals with topics ranging from unemployment,
inflation, growth and government policies that affect the overall economy.
Required Textbook
Gregory Mankiw, Principles of macroeconomics, 5th edition Publisher: South-Western Cengage
Learning. The textbook is bundled with the study guide when you purchase it with the UVM
bookstore.
Exam and grading policy
Your final grade will depend on your performance in the 3 non-cumulative midterm exams, a
comprehensive final exam and the homework assignments. The weight of each component of
the course grade will be as follows:
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Midterm exam 1: 20%
Midterm exam 2:20%
Midterm exam 3:20%
Final exam: 25% Comprehensive
Homework: 15%
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Important Dates
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Add/Drop: February 1, 2010
Midterm exam 1: February 17, 2010
Midterm exam 2: March 24, 2010
Last day to withdraw: April 6
Midterm Exam 3: April 14, 2010
Final Exam: Friday, May 07, 2010 Time: 8:00AM- 11:00AM Location: FLEMIN 101
Classroom Policies and Expectations
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-
-
-
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Students are expected to remain polite during classroom discussions. You must treat
everyone with respect, even if you disagree with them.
Your cellular phones must always be off in class. If you forget to turn it off and it rings
once, I expect you to turn it off after the first ring. It is just a matter of courtesy.
Attendance Although not required, I expect you to attend the lectures. I strongly believe
there is a strong correlation between student attendance and grade. It can be a key factor
in helping me decide the type of student you are when you seek help and when you are at
borderline of a grade.
Exam: Do not wait until the last minute to start preparing for the exam. You will do
better by reading the chapter in the textbook, understanding your notes, doing your
homework and attending lectures. Therefore, I expect you to take good notes in class.
Homework: Students are expected to submit their assignments at the due date. Your
grade will depend on the quality and accuracy of your work. Moreover, I will post the
answer key online; therefore, I do not accept late homework assignments.
You are expected to read the chapter beforehand. Moreover, I expect you to spend time
going through and understanding your notes.
I do not allow open laptops in class
If you have a question, please raise your hand.
If you have a comment or suggestion, please raise your hand.
Absences: For unexpected absences, please be advised that only documentation from
the Dean’s Office will be accepted.
Miscellaneous: If you have any question or concern you are not comfortable discussing
in front of your peers, please feel free to see me at the end of the lecture or come during
my office hours and I will be more than happy to accommodate you to the best of my
ability.
Lateness during exams: On the day of an exam, if a student comes late and another
student has already completed his/her exam and left the classroom, the tardy student will
not be authorized to take the test and will get a grade zero for the test. Please be on time
to avoid that inconvenient situation.
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Final Grading:
93 & +
90 – 92%
86 – 89%
83 – 85%
80- 82%
76-79%
73-75%
70- 72%
66- 69%
63-65%
60- 62%
X<60%
A
AB+
B
BC+
C
CD+
D
DF
Students with Disabilities
If you have a disability that requires a special accommodation, please inform me of your needs
within the first week of the semester. Additionally, you need to provide a letter from the office of
disability that specifies your needs and the accommodation needed.
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Tentative course schedule
Week
Day
Topic
1
01/19
01/20
01/25
First day of classes
Introduction
Measuring a nation’s
income
Measuring a nation’s
income
Measuring the cost of
Living
Measuring the cost of
Living
Production and Growth
Production and Growth
2
01/27
3
02/01
02/03
4
02/08
02/10
5
02/15
02/17
6
02/22
9
10
11
12
Saving, Investment, and
the Financial System
Saving, Investment, and
the Financial System
The Basic Tools of
Finance
The Basic Tools of
Finance
03/01
03/08
03/10
03/15
03/17
03/22
03/24
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Unemployment
Unemployment
The Monetary System
Chapter 12
Chapter 13
Chapter 13
Chapter 14
Chapter 14
Chapter 15
Chapter 15
Chapter 16
Midterm Exam 2
03/29
03/31
04/05
The Monetary System
The Monetary System
Open-Economy
Macroeconomics: Basic
Concepts
Open-Economy
Macroeconomics: Basic
Concepts
Aggregate Demand and
Aggregate Supply
04/12
04/14
Midterm Exam 3
04/19
Aggregate Demand and
Aggregate Supply
The Influence of
Monetary and Fiscal
Policy on Aggregate
Demand
The Short-Run Debate
Between Inflation and
04/21
15
Chapter 11
Spring Recess
04/07
13
Chapter 11
Midterm Exam 1
03/03
8
Chapter 10
President’s day Holiday
02/24
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Textbook
04/26
4
Chapter 16
Chapter 16
Chapter 18
Chapter 18
Chapter 20
Chapter 20
Chapter 21
Chapter 22
Unemployment
The Short-Run Debate
Between Inflation and
Unemployment
Five Debates Over
Macroeconomic Policy
Last Day of classes
04/28
16
05/03
05/04
Chapter 22
Chapter 23
Disclaimer
Changes may be made to any aspect of this syllabus. If such a situation occurs, I will make an
announcement in class.
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UVM Policies
You need to be aware of the UVM policies by reading the UVM Rights and Responsibilities of
Undergraduate Students, which is attached below:
Rights and Responsibilities of Undergraduate Students
Please find current policies at Web site1.
Classroom Code of Conduct
Faculty and students will at all times conduct themselves in a manner that serves to maintain,
promote, and enhance the high quality academic environment befitting the University of
Vermont. To this end, it is expected that all members of the learning community will adhere to
the following guidelines:
1. Faculty and students will attend all regularly scheduled classes, except for those
occasions warranting an excused absence under the University Attendance Policy (e.g.,
religious, athletic, and medical).
2. Students and faculty will arrive prepared for class and on time, and they will remain in
class until the class is dismissed.
3. Faculty and students will treat all members of the learning community with respect.
Toward this end, they will promote academic discourse and the free exchange of ideas by
listening with civil attention to comments made by all individuals.
4. Students and faculty will maintain an appropriate academic climate by refraining from all
actions that disrupt the learning environment (e.g., making noise, ostentatiously not
paying attention, and leaving and reentering the classroom inappropriately).
Attendance Policy
Students are expected to attend all regularly scheduled classes. The instructor has the final
authority to excuse absences. It is the responsibility of the instructor to inform students of his or
her policy for handling absences and tardiness, and the penalties that may be imposed.
Notification should be done both verbally and in writing at the beginning of each semester.
It is the responsibility of the student to inform the instructor regarding the reason for absence or
tardiness from class, and to discuss these with the instructor in advance whenever possible. The
instructor has the right to require documentation* in support of the student's request for an
excuse from class. If an out-of-class exam is scheduled which conflicts with a regularly
scheduled class, the regularly scheduled class has priority.
The instructor has the right to disenroll any student from a course if that student (1) does not
meet the prerequisites of the course, or (2) fails to attend a scheduled course by the third
instructional day of a semester or the second scheduled class session of a course, whichever
comes later, unless the student has notified the instructor and has been excused. To disenroll
students the instructor must notify the Registrar, who will remove the student's name from the
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class list and the course from the student's schedule. The student is responsible to determine
whether or not she or he is enrolled in a class.
* When a student is unable to attend class for a health reason, the student may give permission
for the instructor to discuss the situation with a representative from the Center for Health and
Wellbeing. As with all absences, the faculty member has final authority to excuse students from
classes.
Athletic-Academic Conflicts
Students participating in inter-collegiate athletics should plan their schedules with special care,
recognizing the primary importance of all of their University academic responsibilities. Each
semester, members of UVM varsity and junior varsity teams are responsible for documenting in
writing any conflicts between their planned athletic schedule and the class schedule to their
instructors by the end of the second full week of classes. Students and instructors should then
discuss potential conflicts between course requirements and intercollegiate competitions. When
an unavoidable conflict exists, the student and instructor should seek a resolution which permits
the student to address the course requirement and participate in the athletic competition. The
instructor has final authority on this matter.
Religious Holidays
Students have the right to practice the religion of their choice. Each semester students should
submit in writing to their instructors by the end of the second full week of classes their
documented religious holiday schedule for the semester. Faculty must permit students who miss
work for the purpose of religious observance to make up this work.
Each student is held responsible for knowledge and observance of these rules and regulations,
including those concerned with academic honesty. Please refer to the Code of Student Rights and
Responsibility, Alcohol and Drug-Student at: Web site1.
Academic Integrity
The principal objective of the Academic Integrity Code is to promote an intellectual climate and
support the academic integrity of the University of Vermont. Academic dishonesty or an offense
against academic honesty includes acts that may subvert or compromise the integrity of the
educational process. Such acts are serious offenses that insult the integrity of the entire academic
community.
Each student is responsible for knowing and observing this code. Please review the Academic
Integrity Code at Web site.2
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