CAMERON UNIVERSITY

SCHOOL OF  BUSINESS

EC 3023  MACROECONOMIC THEORY ONLINE

SPRING 2006

 

INSTRUCTOR:            Dr. Syed M. Ahmed

OFFICE:                        Room  BUS 109

PHONE:                        (Office) 580-581-2430 

OFFICE HOURS:         Monday - Thursday  11A.M-1 PM

E-MAIL ADDRESS:     syeda@cameron.edu

WEBSITE ADDRESS: http://www.cameron.edu/~syeda/

             

 

INTRODUCTION

 

This course is designed to provide a rigorous grounding in micro-economic theory. The basic choice-theoretic optimization problem is discussed for both consumers and producers. As an intermediate course in macroeconomics, this course builds on the materials covered in the principles of microeconomics course and lays foundation for more advanced courses in this area. The topics covered in this course are broadly same as the principles, but develops more complex and rigorous tools of analysis and economic models. Other than the theories of consumer behavior and production and cost theories, the course will cover  topics such as choice under uncertainty, market structures, theory of distribution and employment and informational theories

 

COURSE OBJECTIVES

 

            By the end of the course, the students should

 

            1. understand the nature of aggregate behaviour of different groups of agents in the private and the public sector;

            2. familiarize themselves with graphical and mathematical exposition of various tools of macroeconomic tools;                          

            3. learn how to use these tools to address a macroeconomic problem;                                  

            4. be able to understand the interrelationships among key macroeconomic variables;

            5. comprehend the rationale and impact of various government policies on the macroeconomy; 

            6. know the basic nature of trade-off (or conflict) among various macroeconomic goals;

           7. gain insight into nature and historical background of major macroeconomic controversies.

 

             

CLASS FORMAT    

     

            This is an online class. Students are required to participate in discussions in the discussion board. Each week there will be discussion on topics assigned for that particular week. Students should check announcements regularly.

 

STUDENT RESPONSIBILITIES

 

         Log on to blackboard regularly  to view announcements and participate in the discussion board.

         Make sure you have a dependable internet connection. Save a quiz or test before submitting it. make every effort that your computer connection works. If you are shut out of  the computer,  I may give a quiz or test to retake, but any make up quiz will have different set of questions and will be supervised. Internet explorer is a dependable connection.

         The final exam will be proctored. So submit the proctoring information as soon as possible to me.

         Late assignments will be penalized by deducting two points (out of ten) for each day late. Once solutions are posted on Blackboard, no late assignment will be accepted.  

         If you have to miss an exam on medical grounds or other emergencies, please let me know in advance, if possible. That will give me time to arrange make-up exams.

 

 

EVALUATION

 

6 written assignments (best of  seven)                              20%

6 quizzes                                                                            20%

Class Discussion/participation in Blackboard                  10%

1 Mid term examination                                                    20%

 Final exam                                                                        30%       

 

 

                                                     

 

MARKING AND GRADING POLICY

 

The following letter grading system will be used in assigning final grades. Tests, assignments, etc. will be given marks. These marks will be combined according to the weights described above (see  evaluation section) and converted into a letter grade at the end of the course.* 

 

Grade                   Percentage equivalents

 

  A                          85  - 100      Excellent performance

  B                          75 -    84      Very good performance

  C                          65 -    74      Good performance

  D                          55 -    64      Poor performance

  F                                  < 55      Fail       

    * The above scale may be raised or lowered by a couple of percentages if the class average is exceptionally low or high.

 

 

REQUIRED TEXT

 

            Abel, Andrew B. and Bernanke,  Macroeconomics, 5th Ed.  Pearson, Addison Wesley, 2005

 

   

     The following is a tentative schedule. Some minor adjustments may be made depending on the progress in the class.* See Assignment and Quiz schedule in the Assignment section for assignment due dates and  quiz dates.

 

WEEK OF               Topics

 

Jan  9                        Introduction to Macroeconomics, Ch 1

                                  

Jan 16                        Measurement and Structure of Economy, Ch 2

                                  Assignment 1 (Ch 1 & 2)

 

Jan 23                        Productivity, Employment and Output, Ch 3

                                  Quiz 1 (Ch 1 & 2)

 

Jan 30                        Consumption, saving and Investment, Ch 4

                                  Assignment 2 (Ch 3 & 4)

 

Feb 6                          Saving, Investment in the Open economy, Ch 5

                                  Quiz 2 (Ch 3 & 4)

                                  

Feb 13                     Long-Run economic Growth, Ch 6

                                Assignment 3    (Ch 5 & 6)   

                                 

Feb 20                     Asset Market, Money and Prices Ch. 7                      

                                Quiz 3 (Ch 5 & 6)

 

Feb 27                     Business Cycles Ch 8

                                Assignment 4 (Ch 7 & 8)

                                Mid Term Exam ( Ch 1 to 7)

 

Mar 6                       IS-LM/AD-AS Model ,  Ch 9

                                Quiz 4 (Ch 7 & 8)

 

Mar 13                     Spring Break

                                 

Mar 20                     Classical Business Cycle Analysis, Ch 10

                                 Assignment 5    (Ch 9 &10)                              

Exam 2

 

Mar 27                    Keynesianism: Macroeconomics of Wage and price Rigidity Ch 11

                                Quiz 5 (Ch 9 & 10)

 

Apr 3                       Unemployment and Inflation , Ch 12

                                Assignment 6 (Ch 11 & 12)

 

Apr 10                     Open Economy Macroeconomics Ch 13

                                 Quiz 6 (Ch 11 & 12)

 

Apr 17                     Monetary Policy, Ch 14

                                Assignment 7 (Ch 13 &14)

 

Apr 24                     Government Spending and Financing  Ch 15

                                Quiz 7  (Ch 13 & 14)

 

FINAL EXAM      Ch 8 to 15 

 

Final exam will be held on May 4 from 9 to 5 PM at Burch Hall, Cameron and Lawton/Ft. Sill  area students. Others need to send me the proctoring information as soon as possible. Final exam will be available for off campus students from  8 AM to 12 midnight on May 4.

 

Please note that students will be consulted before any substantial changes are made in the course outline.