Spring 2012 Economics 0110H S. Husted Introduction to … · 2016-05-18 · Course Outline and...

Spring 2012 Economics 0110H S. HustedIntroduction to Macroeconomic Theory

Instructor: Professor Steven Husted Office: 4508 W.W. Posvar Hall

Office Hours: T, Th 10:45-12 or by appointm ent Telephone: 412-648-1757

E-Mail: [email protected]

This course seeks to provide an introduction to the study of the behavior of market-based economies such as the United

States. Topics covered include (1) an introduction to the use of the fundamental tools of economic analysis: supply and

demand; (2) the concepts of inflation, unemployment, and national output and how these variables behave over time;

(3) saving and investment, including the roles of bond and equity markets in the national economy; (4) money and

banking; and (5) the use of models of the macro economy to understand what causes movements in the national economy

and the role of governments in controlling these movements.

Text: P. Krugman & R. Wells, Macroeconomics, New York: Worth Publishers, 2 edition, 2009.nd

Undergraduate TA: James Klima ([email protected])

Recent U.S. Economic Data: St. Louis Federal Reserve Fred Data Base

Optional: Throughout the course there will be frequent references to events in the news. To follow these more closely,

you are encouraged to read one or more newspapers or news magazines, such as The New York Times, The Wall Street

Journal, The Financial Times, or The Economist, regularly. All are available in hard copy in Hillman library. In addition,

access to the content of these publications is available on-line through the University library system (go to the library

web page http://www.pitt.edu/libraries.html and link to the publications using their ejournals page

http://rt4rf9qn2y.search.serialssolutions.com/. Alternatively, you might want to subscribe to one of these publications.

One semester student subscriptions are available for most. Check with me if you need access to a sign up sheet.

Grading: Daily quizzes 10%1

Term paper 20%2

Two In-class Midterms 40% (20% each)

Final Exam: 30% (Thursday April 26 10-11:50)

Economics Blogs:

Jared Bernstein at http://jaredbernsteinblog.com/

Mark Thoma at http://economistsview.typepad.com/economistsview/

James D. Hamilton & Menzie Chinn at http://www.econbrowser.com/

Greg Mankiw at http://gregmankiw.blogspot.com/

David Altig at macroblog.typepad.com/macroblog/

The first two are slightly to the left, the middle one neutral, and the last two are slightly to the right. These sites often

discuss real world issues, and the authors provide their own perspective on these issues. Checking periodically with one

or more of these sites may help you find a topic for your term paper. Note that these are only a few of the many blogs

written by economists.

Homeworks: Every week I will post a set of homework problems. You do not have to hand in homework. No grades

will be given, and there won’t be answer keys, although some answers appear at the end of the text and a limited number

of suggested answers will be posted on the CourseWeb site. Doing the homework problem, either on your own or with

your classmates, is important, because these exercises or problems will be very similar to those found in the exams.

Over the course of the semester the TA will hold review sessions to discuss these assignments and provide help with how

to solve the problems.

Grade based on the best 20 (out of 26) scores. Bonus grade awarded to students with 24 or more scores.1

Short (maximum of 8 pages of text) on a macroeconomic issue or problem facing the United States or any2

other chosen country. Due Friday April 20, 2011. More complete instructions are posted on the CourseWeb site.

mailto:[email protected]


http://research.stlouisfed.org/fred2/

http://www.pitt.edu/libraries.html

http://rt4rf9qn2y.search.serialssolutions.com/

http://jaredbernsteinblog.com/

http://economistsview.typepad.com/economistsview/

http://www.econbrowser.com/

http://calculatedrisk.blogspot.com/;

http://gregmankiw.blogspot.com/

http://macroblog.typepad.com/macroblog/

Course Outline and Reading List

Week of Topic Chapter

Jan. 9 Introduction to Economics 1-3

Jan. 16 Macroeconomics & the Macroeconomy 6, 7

Jan. 23 Unemployment & Inflation 8

Jan. 30 Economic Growth 9

Feb. 6 Saving & Investment 10

Feb. 13 Midterm #1 week

Feb. 20 Money, Banking, and the Fed 14

Feb. 27 Income & Expenditure 11

Mar. 5 Spring Break

Mar. 12 Aggregate Demand & Supply 12

Mar. 19 Midterm #2 week

Mar. 26 Fiscal Policy 13

Apr. 2 Monetary Policy 15

Apr. 9 Inflation & Deflation 16

Apr. 16 Open Economy Macroeconomics 18

FINAL EXAM: Thursday April 26 10-11:50

Notes:

(1) Make-up exams will be allowed only under extreme circumstances, such as illness. In order to schedule

a make-up exam you must notify me prior to the exam and provide a written note from your doctor.

(2) G grades are given only in emergencies and only to students who have been doing satisfactory work.

Requests for G grades must be in writing.

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ECON 0110 (10870): INTRODUCTORY MACROECONOMICS T H 12:00 TO 12:50 LAWRN 121

SPRING, 2012 JAN. 2012 – APR. 2012

INSTRUCTOR: DR. JAMES L. KENKEL 4709 WWPH

412-563-4128 [email protected] Office Hours: TU & TH: 8 AM to 9:15 AM and 11 AM to 11:50 AM TEXT: Macroeconomics, A Contemporary Introduction, William A. McEachern,

9th Edition, Thompson – Southwestern. The Study Guide is not required, but is recommended.

GRADING SYSTEM: Mid-term exam 1: 250 points Mid-term exam 2: 250 points Final exam: 500 points ____ Total 1,000 points GRADE SCALE: A+: 975 TO 1000 A: 925 TO 974 A-: 900 TO 924 B+: 875 TO 899 B: 825 TO 874 B-: 800 TO 824 C+: 775 TO 799 C: 725 TO 774 C-: 700 TO 724 D+: 675 TO 699 D: 625 TO 674 D-: 600 TO 624 EXTRA CREDIT: There is no extra credit available in this course. STRUCTURE OF THE COURSE Two hours of lecture and one hour of recitation per week. Mid-term Test 1: Approximately 25 multiple choice questions: 250 total points Mid-term Test 2: Approximately 25 multiple choice questions: 250 total points Final exam: Approximately 60 multiple choice questions: 500 total points No quizzes or tests in recitations. Your test and exam grades will be posted on Courseweb. After your grades have been posted, you have 10 days to request a correction. Otherwise, your grade will remain unchanged.


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JAN. 2012 – APR. 2012

INSTRUCTOR: DR. JAMES L. KENKEL 4709 WWPH 412-563-4128 [email protected]

Office Hours: TU & TH 8:00 AM to 9:15 AM & 11:00 AM to 11:50 AM SECRETARY: LAUREE GRAHAM 4706 WWPH [email protected] 412-648-8745 TEACHING ASSISTANTS: MR. HANSOO CHOI 4909 WWPH 648-1796 [email protected] MR. TIMOTHY ELSER 4523 WWPH 648-1766 [email protected] MR. HAKKI LEE 4910 WWPH 648-1792 [email protected] MS. SIYING LIU 4522 WWPH 648-5717 [email protected] RECITATIONS: 1. (11523) MR. TIM ELSER M 10:00 CL249 2. (10980) MR. TIM ELSER M 11:00 CL249 3. (10871) MS. SIYING LIU M 12:00 CL249 4. (19158) MR. HANSOO CHOI T 10:00 CL226 5. (10981) MR. HANSOO CHOI T 11:00 CL226 6. (11524) MS. SIYING LIU T 1:00 CL221 7. (11528) MR. TIM ELSER W 9:00 WWPH 5404 8. (10874) MR. TIM ELSER W 10:00 WWPH 5404 9. (11525) MR. HAKKI LEE W 11:00 WWPH 3415 10. (10872) MR. HAKKI LEE W 12:00 WWPH 5201 11. 19159) MR. HANSOO CHOI H 9:00 CL252 12. (10983) MR. HANSOO CHOI H 10:00 CL252 13. (11526) MR. HAKKI LEE H 11:00 CL252 14. (10873) MS. SIYING LIU H 1:00 CL221 15. (10982) MS. SIYING LIU H 2:00 CL221 16. (11527) MR. HAKKI LEE F 9:00 WWPH 4900







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SYLLABUS AND LECTURE NOTES ARE ON COURSEWEB All class material is available on Courseweb. To get access to the material, proceed as follows: 1. Log onto Courseweb at courseweb.pitt.edu 2. Click on the appropriate course. 3. Click on "Course Documents" 4. Under "1. All course documents" you should see all the course materials listed. 5. Click on any item and print out the material. If you wish, you might want to reformat the lecture notes to condense them to save paper. PEOPLESOFT NUMBER: Your tests will be multiple choice and your answers will be recorded on scantrons. In order for the computer to record your scores, you must fill in your PEOPLESOFT NUMBER on the scantron. The following instructions show how to access your PEOPLESOFT NUMBER. HOW TO ACCESS YOUR PEOPLESOFT NUMBER 1. Login to my.pitt.edu 2. Login with your user name and password 3. Click on the link “PittPAY Login” at the right of the screen 4. Your seven-digit Peoplesoft ID number will appear directly next to your name at the top left of the page (below the Pitt seal) in the gold band If you cannot find your number, let me know because I have access to the numbers for all students enrolled in the class.

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WHAT IS MACROECONOMICS? The course helps explain how the US economy works. Topics covered include factors which influence the level of output and our standard of living in the economy; determinants of the inflation rate & unemployment rate; the stock market, the bond market, the behavior of interest rates, the social security system, the US tax system, theories which explain the consumption and saving behavior of households, the behavior of business firms, how the Federal government influences the economy, the deficit and national debt, the money supply, the banking system, the Federal Reserve System, and how fiscal policy and monetary policy influence the economy. STUDY TIME REQUIREMENTS There is a lot of material to be covered in this course. Be prepared to spend a couple of hours per day reading the book or you will find yourself hopelessly behind at test or exam time. PREREQUISITES No Economics prerequisites. Good knowledge of college algebra. Calculus is not required. THE TEXTBOOK Some lectures present material not covered in the book. Syllabus shows what material will be covered in each lecture. CLASS PREPARATION Read the assigned sections of the text before coming to class. Many lectures cover topics not covered in your book. Take lots of notes. COURSEWEB: The syllabus, lecture notes, practice homeworks and practice tests are posted on Courseweb. ALL the lecture notes are posted under Course Documents. That is, even the syllabus is listed under Course Documents. MISSING A TEST OR EXAM Dates for the mid-term exams are tentative and may be moved back slightly depending on how quickly we have covered the assigned material. The exact date for each test will be announced in class at least one week in advance. You need a valid reason to delay an exam, (serious illness, death in the family, etc.) Contact me in class, by e-mail, or by phone BEFORE the exam, so we can discuss a suitable arrangement for a make-up exam. If you need to miss a test or exam, you MUST eventually give me some documentation to justify your excuse.

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TESTS AND EXAMS ARE CLOSED BOOK: You will need a calculator. RECITATIONS 1. The syllabus shows what will be covered during each recitation. 2. TAs may cover new material not covered in class lectures. 3. TAs will answer questions about the practice homework problems, if asked. 4. No quizzes or tests will be given during recitations. GETTING HELP If you need help, first see me in the classroom just before or after class. Usually I can answer your questions in a minute or two. Alternatively, for help, contact me or your TA during our office hours, by telephone, by e-mail, or make an appointment. ADD-DROP A COURSE: Enrollment Forms and Drop Forms are available in the Registration Office, G-1 Thackeray Hall. COURSE WITHDRAWAL: To withdraw from a course after the official end of the add/drop period, you must process a “Monitored Withdrawal Request” form. It can be obtained through the dean’s office in Thackeray Hall (412-624-6480). Approval for you to withdraw from a course is at the discretion of the dean. There is no tuition reimbursement associated with a course withdrawal. W, G, AND I GRADES INSTRUCTORS CANNOT GIVE W GRADES; YOU MUST SEE THE DEAN. The University has cut-off dates for W grades. G grades are given only when students who have been attending a course and have been making regular progress are prevented by EXTENUATING CIRCUMSTANCES (usually illness) from completing the course after it is too late to withdraw. CAS requires that G grades be completed within the next term. I: I grades are for graduate thesis research. ACADEMIC INTEGRITY It is your responsibility to do your own work. Do not look around during tests and keep your work covered. Honest conduct means that one neither take credit for the work of others nor knowingly allow others to do so. Cheating on exams and quizzes is forbidden, and suspected violations will be dealt with in accordance with the University's Guidelines on Academic Integrity.

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ECON 0110 (10870): INTRODUCTORY MACROECONOMICS T H 12:00 12:50 LAWRN 121

JAN. 2012 – APRIL 2012 THE LISTED MID-TERM TEST DATES ARE TENTATIVE. THE ACTUAL DATES WILL BE ANNOUNCED IN CLASS AT LEAST ONE WEEK IN ADVANCE. DATE TUE TH SUBJECT JAN 5 INTRODUCTION, TOPICS STUDIED IN MACRO CH 1, 2, 3, 5 NO RECITATION DURING FIRST WEEK ____________________________________________________________________ JAN 10 12 MACROECONOMIC POLICY GOALS, ECONOMIC FALLACIES,

TYPES OF ECONOMIC STATEMENTS CH 1, 2, 3, 5 NO RECITATION THIS WEEK

____________________________________________________________________ JAN 17 19 PRODUCTION POSSIBILITY CURVE,

OPPORTUNITY COST CH. 2, 7 RECITATION: DIFFERENT ECONOMIC SYSTEMS CH. 2

____________________________________________________________________ JAN 24 26 GAINS FROM TRADE, COMPARATIVE ADVANTAGE

INTERNATIONAL TRADE CH. 2, 18 RECITATION: SAME

____________________________________________________________________ FEB 28 2 LEGAL ORGANIZATION OF BUSINESS FIRMS, TAXES, STOCK

MARKET, BOND MARKET, PRESENT VALUE, NOTES RECITATION: PRODUCTION POSSIBILITY CURVE COMPARATIVE ADVANTAGE


MARKET, BOND MARKET, PRESENT VALUE, SOCIAL SECURITY, U.S TAX SYSTEM KENKEL NOTES

RECITATION: MEASURING GDP CH. 7 ____________________________________________________________________ FEB 14 16 MEASURING NOMINAL GDP BY THE EXPENDITURE APPROACH

REAL GDP CH. 67 RECITATION: SAME

____________________________________________________________________ FEB 21 23 EMPLOYMENT, UNEMPLOYMENT, INFLATION CH. 7

RECITATION: SAME ____________________________________________________________________ FEB 28 MID-TERM EXAM 1 (DATE IS TENTATIVE)

ALL MATERIAL UP TO AND INCLUDING INFLATION YOU WILL NEED A CALCULATOR ____________________________________________________________________

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MAR 1 THE CONSUMPTION FUNCTION CH. 9 RECITATION: SAME

MAR 6 8 SPRING BREAK NO CLASSES

____________________________________________________________________ MAR 13 15 AGGREGATE EXPENDITURE AND EQUILIBRIUM OUTPUT

EXPENDITURE MULTIPLIERS CH. 9, 10 RECITATION: SAME

____________________________________________________________________ MAR 20 22 THE FEDERAL BUDGET AND FISCAL POLICY CH. 12, 13

RECITATION: EXPENDITURE MULTIPLIERS ____________________________________________________________________ MAR 27 29 THE FEDERAL BUDGET AND FISCAL POLICY CH. 12, 13

TIMING PROBLEMS WITH FISCAL POLICY, AUTOMATIC STABILIZERS, REFINANCING THE DEBT, SUPPLY SIDE ECONOMICS, THE LAFFER CURVE RECITATION: EXPENDITURE MULTIPLIERS

____________________________________________________________________ APR 3 MID-TERM EXAM 2 (DATE IS TENTATIVE)

CUMULATIVE INCLUDING EXPENDITURE MULTIPLIERS YOU WILL NEED A CALCULATOR APR 5 MONEY AND THE BANKING SYSTEM CH. 14, 15 ____________________________________________________________________ APR 10 12 THE FEDERAL RESERVE SYSTEM CH. 14, 15

RECITATION: SAME APR 17 19 THE FEDERAL RESERVE SYSTEM CH. 14, 15

RECITATION: SAME ____________________________________________________________________

FINAL EXAM

NOTE THAT THE EXAM IS AT A SPECIAL TIME TUESDAY, APRIL 24, 4:00 – 5:50 PM REGULAR CLASSROOM FINAL EXAM IS CUMULATIVE (APPROXIMATELY 60 MULTIPLE CHOICE QUESTIONS) (FINAL EXAM TOTAL = 500 POINTS) YOU WILL NEED A CALCULATOR.

Intro Macroeconomic Theory (ECON 0110) Summer Term 2012 T H: 11:00 – 1:15 WWPH4900

Instructor: Jae Won Kang Office: WWPH 4523 Email: [email protected] Office Hour: 1:00-3:00 (Wednesday) or by appointment TA: Ling (Lily) Yang ([email protected]), O.H: 9:00-11:00 (Tuesday) WWPH 4520 Course Objective This course is designed to introduce students to the principles of macroeconomics. The course starts with an introduction to economics, the vocabulary used by economists and how to measure economic concepts. Students then are introduced to macroeconomic specific issues such as: productivity, growth, unemployment, inflation, exchange rates, national debts, and deficits. Students will also learn the role of the government and the Federal Reserve System in the economy and how their policies affect the growth and cyclical behavior of the economy. By the end of this course, students should be acquainted with models of economic analysis, have an understanding of how macroeconomic outcomes develop, and be able to interpret current economic indicators and functions. Prerequisites There are no prerequisites. However, students are expected to work comfortably with numbers, graphs, and simple algebraic equations. Required Text Hubbard & O’Brien, Macroeconomics, 3rd edition, Prentice Hall (4th edition is also fine) Courseweb The syllabus, lecture notes, problem sets are posted on Courseweb (https://courseweb.pitt.edu/webapps/login/). Assessment & Grading

Points

Mid-term exam 1 200 Mid-term exam 2 150 Final exam – part 1 150 Final exam – part 2 300 Quizzes (5) 5*40 = 200 Total 1000

Points Grade Points Grade 900- A 700-749 C

875-899 A- 675-699 C- 850-874 B+ 650-674 D+ 800-849 B 550-649 D 775-799 B- 500-549 D- 750-774 C+ -499 F



Intro Macroeconomic Theory (ECON 0110) Summer Term 2012 T H: 11:00 – 1:15 WWPH4900

Make-up Policy Make-up exams are permitted only for documented illness or emergency. The format and type of problems required may not be similar to those on the originally scheduled exam. Academic Integrity You should expect me to abide by the Faculty Conduct guidelines of the School of Arts and Sciences Academic Integrity policy (http://www.as.pitt.edu//fac/policies/academic-integrity) and I expect you to abide by the Student Conduct guidelines. Special Accommodation If you have a disability for which you are or may be requesting an accommodation, you are encouraged to contact both me and Disability Resources and Services, 140 William Pitt Union, (412) 648-7890, as early as possible in the term. DRS (http://www.studentaffairs.pitt.edu/drshome), will verify your disability and determine reasonable accommodations for this course. Schedule

Class Date Topic 1 6/26 Chap 1, Chap 2, Chap 3, Chap 4 6/28 Review Chap1-4

2 7/3 Chap 5, Chap 7, Chap 8 Quiz1 3 7/5 Chap 8, Chap 9 Mid-term 1 4 7/10 Chap 9, Chap 10 Quiz2 5 7/12 Chap 10, Chap 11 6 7/17 Chap 11, Chap 12 Quiz3 7 7/19 Chap 13 Mid-term 2 8 7/24 Chap 13, Chap 14 Quiz4 9 7/26 Chap 14, Chap 15

10 7/31 Chap 15, Chap 16 Quiz5 11 8/2 Final exam

Add/drop end: 6/27 Withdrawal deadline: 7/20

Econ 0110 Spring, 2013

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University of Pittsburgh

Department of Economics

Spring 2013

Econ/0110: Introduction to Macroeconomics

Instructor: Dr. Fatma El-Hamidi [email protected]

Class Times: M-W (12-12:50); Room 120; Lwrns Bldg

Office Hours: W-F (9:30-10:30); Room 4713; and by app.

Secretary: Annette Didiano; [email protected]; 412-648-1730

TA 1: Hakki Li [email protected]

TA 2: Kiyoung Jeon [email protected]

Final Exam: Monday, April 22, 4:00-5:50 PM

A. Course Description: The focus of this course is on macroeconomics, the study of the overall economy. The

course starts with an introduction to economics, the vocabulary used by economists and

how to measure economic concepts. Students then are introduced to macroeconomic

specific issues such as: productivity, growth, unemployment, inflation, exchange rates,

national debts, and deficits. Students will also learn the role of the government and the

Federal Reserve System in the economy and how their policies affect the growth and

cyclical behavior of the economy.

B. Course Objectives: By the end of this course, students should be acquainted with models of economic

analysis, have an understanding of how macroeconomic outcomes develop, and be able to

interpret current economic indicators and functions.

C. Course Prerequisites: Competency in basic Algebra and geometry (working with graphs, slopes, and linear

equations).

Internet access is also necessary in this class, in order to complete online assignments.

D. Required Text: 1. The Primary text is: Macroeconomics; Glenn Hubbard, and Anthony O’Brien;

Prentice Hall, 4/e; 2013.

2. You will need to buy an Access Card for MyEconLab.

MyEconLab is an online suite of tools that provides problem solving for students.

Specific homework tasks will be assigned throughout the course, under

MyEconLab. Students can access solutions to end-of-chapter problems in the free

Web site, www.pearsonhighered.com/hubbard/. This interactive study guide also

provides additional resources such as PowerPoint slides with graphs, tables, and

chapter key terms.





http://www.pearsonhighered.com/hubbard


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E. Class Preparation and Study Time Requirements: There is a lot of material to be covered in this course. Read the assigned sections of the

text before coming to class. Be prepared to spend a couple of hours per day reading the

book or you will find yourself hopelessly behind at test or exam time.

F. Grading and Assessment: Your final grade is distributed as follows: two mid-term exams (25% each), a final exam

(30%) and four take-home assignments completed on MyEconLab (20%):

1- Two mid-term exams will each constitute 25% of the final grade. These exams

will take place during lecture time on Monday 2/11/2013 and Monday 3/25/2013.

These dates are tentative and may be moved back slightly depending on how

quickly we cover the assigned material. The exact date for each test will be

announced in class at least one week in advance.

All exams are closed book. You will need a calculator.

2- A final exam constitutes 30% of the final course grade. Please ensure that you do

not plan any other activities during the time of your final exam as there will be no

alternate exam times.

YOU MUST TAKE THE FINAL EXAM AT THE SCHEDULED TIME!

The final exam is scheduled for Monday 4/22, 4:00 PM -5:50 PM


*Note: Although the focus of the exam will differ from one to another (i.e. exams

are not cumulative), remember that the material in the text is cumulative in nature;

for example you will need to fully comprehend topics discussed in chapters 1-4 in

order to master topics discussed in chapters 5-8.

3- Four online assignments—completed on MeEconLab suite: www.myeconlab.com

-will be due on specified dates during the term. These assignments will constitute

the remaining 20% of your grade. They must be completed by 11:59 PM on its

corresponding due date, and will not be available after the due date. If a student

misses a graded assignment, he/she will receive a zero. There are no make-ups

for these assignments. Step-by-step instructions on how to register with

Myeconlab are posted on the CourseWeb.

Please make sure to go over the assignments prior to the exam. Late assignments

are not accepted.

*Note: I encourage you to study in groups. However, remember: all assignments

have to be submitted individually.

4- Problem sets will be distributed weekly and will be discussed in recitations the

following week. These are not assessed but are a fundamental part of the course.

You are expected to attempt these assignments before attending your recitation.

http://www.myeconlab.com/


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5- You are expected to complete your assignments and take your exams on the dates

specified. Late submissions of work or re-sits of exams are only acceptable in

extreme circumstances, such as severe illness/injury/death in immediate

family/jury duty. A health certificate from a doctor or other evidence is required.

If for any reason you cannot meet a deadline you must IMMEDIATELY notify

me or the TAs prior to the exam by email. If you simply do not show up, you will

earn a grade of zero. This option can only be used for the first OR the second mid-

term, NOT both. You MUST take the final exam.

6- I will use CourseWeb http://courseweb.pitt.edu email option for communication,

to report test stats, and to notify students about any changes in the course. It is a

student’s responsibility to check the University email account on a regular basis.

7- Extra Credit: There is no extra credit available in this course.

8- Your final grades will be calculated by weighting each score according to the

weights indicated above and will be rounded to the nearest whole integer.

92 – 100: A 90 – 91: A-

88 – 89: B+ 82 – 87: B

80 – 81: B- 78 – 79: C+

72 – 77: C 70 – 71: C-

68 – 69: D+ 62 – 67: D

60 – 61: D- 0 – 59: F

G. Structure of the Course: Two weekly 50 minutes lectures (Mondays and Wednesdays) and one 50 minutes of

recitation per week.

Mid-term 1: Approximately 50 multiple choice, graphs, and problem solving questions:

25 total points


25 total points

Final exam: Approximately 90 multiple choice, graphs, and problem solving questions:

30 total points

Your grades will be posted on Courseweb. You have a grace period of 10 days after

grades have been posted to discuss any discrepancies with the instructor. Otherwise,

your grade will remain unchanged.

H. Recitations: 1- TAs will cover the weekly chapter/subject.

2- TAs may cover new material not covered in class lectures.

3- TAs will answer questions related to homework problems or assignments, if

asked.

4- No quizzes or tests will be given during recitations.

http://courseweb.pitt.edu/


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I. Syllabus and Lecture Notes: All class materials are available on Courseweb. To get access to the material, proceed as

follows:

1- Log onto Courseweb at courseweb.pitt.edu

2- Click on the appropriate course.

3- Click on "Course Documents"

4- Under "Course Documents" you should see all the course materials listed.

5- Click on any item and print out the material.

If you wish, you might want to reformat the lecture notes to condense them to save

paper.

J. Attendance:

While I don’t take attendance in lectures, it is regularly taken in recitations. Students’

attendance will be used as a criterion for determining their final grade. When students

are on the "borderline" between two grades, students with perfect attendance (no more

than one absence) will get the higher grade (+) while students with excessive absences

will get the lower grade (-).

I highly recommend you attend lectures and recitations. Lectures will make it easier to

read the textbook and get good grades on the exams. Lectures will help develop the

graphs in a way that makes them easier to understand than just reading the text.

*Remember: If you miss a class meeting, you are expected to obtain notes and other

material on your own.

K. Proven Recipe for a Good Grade:

1- Read the assigned reading before the lecture.

2- Attend the lecture, then carefully read the text—one more time--and attempt the

questions and problems in TA section.

L. Classroom Etiquette: In this class you are obliged to observe the following:

1- If you do plan to attend class, be on time and do not leave until class is dismissed.

If you continually interrupt the class with late arrival or early departure you will

be asked to withdraw from the course.

2- Act in a mature manner conducive to enhancing a learning atmosphere. You are

expected to limit talking or other actions and devices (including eating in class or

the use of mobile communications devices for email or communication, including

cell-phones) that might disturb or otherwise distract others, including the

instructor.

3- You are also expected to not interrupt other students in any way if they are asking

questions or making comments to the instructor and class.

4- You are expected to come to class fully prepared, having completed all assigned

readings and work assignments and willing to participate in classroom discussion.

5- You are asked not to read any outside material in class (this includes newspapers,

magazines, and any book you are reading that you just can’t put down)


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M. Getting Help: Advice: If you don't understand a particular point in the lecture, raise your hand and ask it

on the spot. For detailed questions about the text, problems, and readings, talk to the TA

in your recitation or in their office hours. You can also reach the TAs or me by email

(addresses listed above). The TAs and I both pledge that any email question will be

answered within 24 hours. Please identify yourself as an Econ/110 student in the subject

of the email to facilitate prompt communication.

Tutoring: The Academic Resource Center offers regular tutoring sessions for econ-0110.

Students are able to make appointments by calling 412-648 7920.

N. Academic Integrity: It is your responsibility to do your own work. Do not look around during exams and keep

your work covered. Honest conduct means that one neither take credit for the work of

others nor knowingly allow others to do so. Cheating on exams is forbidden, and

suspected violations will be dealt with in accordance with the University's Guidelines on

Academic Integrity.

O. Students with Special Needs The Office of Disability Resources and Services (216 William Pitt Union, 412-624-7890)

is available for students who have requested or wish to request accommodation for a

disability. If needed please contact the office as early as possible in the term.

P. To Do Before Next Class:

1- Get Your PeopleSoft Number Your tests will be in multiple choice format, graphs, and problem solving and your

answers will be recorded on Scantrons sheets. In order for the computer to record your

scores, you must fill in your PeopleSoft Number on the Scantron. The following

instructions show how to access your PeopleSoft Number.

How to Access Your PeopleSoft Number 1- Login to my.pitt.edu

2- Click on “Student Services”

3- Click on “Link to Student Center”

4- Click on “Self Service”

5- Click on “Campus Personal Information”

6- Click on “Demographic Information”

7- Your number should appear in bold print

2- Register and Enroll in “MyEconLab” Course: Textbook: Hubbard/O'Brien: Macroeconomics 4e

Course Name: Econ/0110

Course ID: el-hamidi65082


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To register, you will need: 1. A valid e-mail address.

2. The access code that cames with your MyEconLab Kit or a credit card or Pay

Pal account if you wish to purchase access online.

3. The Course ID listed above.

Step 1: Register for MyEconLab Go to http://www.myeconlab.com and click the Student button, in the Register

section.

1. Enter your Course ID: el-hamidi65082

2. Choose to register an access code or to buy access.

3. Follow the instructions to set up your login and password for your course.

Step 2: Enroll in your instructor's course 1. Log in to MyEconLab at http://myeconlab.com with your newly created Login

Name and Password

2. Enter your Course ID: el-hamidi65082

If you purchased access, visit the Student Center inside your Instructor's Course

for additional purchase options.

Note: If you are taking two MyEconLab courses simultaneously you will need

two separate login accounts.

Need Help? For assistance, please visit http://www.myeconlab.com/support.



http://www.myeconlab.com/support


7

Course Schedule All dates and topics are tentative, and may be revised during the course of the

semester as deemed appropriate by the instructor

Date Lecture Topics Chapter

Monday, January 7 Introduction to Class

Wednesday, January 9 Economic Foundations and Models 1

Monday, January 14 Economic Foundations and Models 1

Wednesday, January 16 Trade-offs, Comparative Advantage

and The Market System

2

Monday, January 21 Martin Luther King Day—No Class



2

Monday, January 28 Where Prices Come From?

Introduction to Supply and Demand

First Assignment Posted

3

Wednesday, January 30 Where Prices Come From?


3

Monday, February 4 Economic Efficiency, Government

Price Setting, and Taxes

First Assignment Due 2/4

4

Wednesday, February 6 Economic Efficiency, Government


4

Monday, February 11 First Mid-Term

Wednesday, February 13 GDP: Measuring Total Production,

and Income

7

Monday, February 18 GDP: Measuring Total Production,

and Income

7

Wednesday, February 20 Unemployment and Inflation

Second Assignment Posted

8

Monday, February 25 Unemployment and Inflation 8

Wednesday, February 27 Economic Growth, the Financial

System, and Business Cycles

Second Assignment Due 2/27

9

Monday, March 4 Economic Growth, the Financial


9

Wednesday, March 6 Long Run Economic Growth:

Sources and Policies

10

Monday-Wednesday 11-17

March

Spring Break—No Class


8

Monday, March 18 Long Run Economic Growth:


10

Wednesday, March 20 Aggregate Demand and Supply

Third Assignment Posted

12

Monday, March 25 Second Mid Term


Third Assignment Due 3/27

12

Monday, April 1 Money, Banks and the Federal

System

13

Wednesday, April 3 Money, Banks and the Federal

System

13

Monday, April 8 Monetary Policy 14

Wednesday, April 10 Monetary Policy

Fourth Assignment Posted

14

Monday, April 15 Fiscal Policy 15

Wednesday, April 17 Fiscal Policy

Fourth Assignment Due 4/17

15

Monday, April 22 Final Exam: 4:00-5:50 PM

1

1


SPRING 2013 JAN. 2013 – APRIL, 2013



9th Edition, Thompson – Southwestern. The Study Guide is not required, but is recommended.



2

2


JAN. 2013 – APRIL 2013


Office Hours: TU & TH: 8:00 AM to 9:15 AM & 11:00 AM to 11:50 AM TEACHING ASSISTANTS: MR. TEKIN KOSE 4521 WWPH [email protected] 412-648-7039 MS. ZEYNEP KABUKCUOGLU 4518 WWPH [email protected] 412-648-2822 MR. HANSOO CHOI 4909 WWPH [email protected] 412-648-1796 MS. YINGJUN SU [email protected] RECITATIONS: 1. (11482) M 10:00 CL 349 KABUKCUOGLU 2. (10962) M 11:00 CL 349 KABUKCUOGLU 3. (10855) M 12:00 CL 349 KABUKCUOGLU 4. (18154) T 10:00 CL 226 KOSE 5. (10963) T 11:00 CL 226 KOSE 6. (11486) T 1:00 PUBHL A522 KOSE 7. (11487) W 10:00 CL 2320 CHOI 8. (10858) W 11:00 CL 2320 CHOI 9. (11483) W 12:00 CL 2320 KOSE 10. (18155) TH 9:00 WWPH 5130 KABUKCUOGLU 11. (10965) TH 10:00 WWPH 5130 CHOI 12. (11485) TH 11:00 WWPH 5130 CHOI 13. (10857) TH 1:00 EBERL 206 SU 14. (10964) TH 2:00 EBERL 206 SU 15. (11484) F 9:00 WWPH 5405 SU 16. (10856) F 10:00 WWPH 5405 SU CL = CATHEDRAL OF LEARNING PUBHL = PUBLIC HEALTH WWPH = W.W. POSVAR HALL EBERL = EBERLY HALL






3

3


4

4


5

5

TESTS AND EXAMS ARE CLOSED BOOK: You will need a calculator. RECITATIONS 1. The syllabus shows what will be covered during each recitation. 2. TAs may cover new material not covered in class lectures. 3. TAs will answer questions about the practice homework problems, if asked. 4. No quizzes or tests will be given during recitations. GETTING HELP If you need help, first see me in the classroom just before or after class. Usually I can answer your questions in a minute or two. Alternatively, for help, contact me or your TA during our office hours, by telephone, by e-mail, or make an appointment. ADD-DROP A COURSE: Enrollment Forms and Drop Forms are available in the Registration Office, G-1 Thackeray Hall. COURSE WITHDRAWAL: To withdraw from a course after the official end of the add/drop period, you must process a “Monitored Withdrawal Request” form. It can be obtained through the dean’s office in Thackeray Hall (412-624-6480). Approval for you to withdraw from a course is at the discretion of the dean. There is no tuition reimbursement associated with a course withdrawal. W, G, AND I GRADES INSTRUCTORS CANNOT GIVE W GRADES; YOU MUST SEE THE DEAN. The University has cut-off dates for W grades. G grades are given only when students who have been attending a course and have been making regular progress are prevented by EXTENUATING CIRCUMSTANCES (usually illness) from completing the course after it is too late to withdraw. CAS requires that G grades be completed within the next term. I: I grades are for graduate thesis research.

6

6

UNIVERSITY POLICIES: ACADEMIC INTEGRITY It is your responsibility to do your own work. Do not look around during tests and keep your work covered. Honest conduct means that one neither take credit for the work of others nor knowingly allow others to do so. Cheating on exams and quizzes is forbidden, and suspected violations will be dealt with in accordance with the University's Guidelines on Academic Integrity. Students in this course will be expected to comply with the University of Pittsburgh's Policy on Academic Integrity. Any student suspected of violating this obligation for any reason during the semester will be required to participate in the procedural process, initiated at the instructor level, as outlined in the University Guidelines on Academic Integrity. This may include, but is not limited to, the confiscation of the examination of any individual suspected of violating University Policy. Furthermore, no student may bring any unauthorized materials to an exam, including dictionaries and programmable calculators. Disability Services If you have a disability that requires special testing accommodations or other classroom modifications, you need to notify both the instructor and Disability Resources and Services no later than the second week of the term. You may be asked to provide documentation of your disability to determine the appropriateness of accommodations. To notify Disability Resources and Services, call (412) 648-7890 (Voice or TTD) to schedule an appointment. The Disability Resources and Services office is located in 140 William Pitt Union on the Oakland campus. Copyright Notice Course materials may be protected by copyright. United States copyright law, 17 USC section 101, et seq., in addition to University policy and procedures, prohibit unauthorized duplication or retransmission of course materials. See Library of Congress Copyright Office and the University Copyright Policy. Statement on Classroom Recording To ensure the free and open discussion of ideas, students may not record classroom lectures, discussion and/or activities without the advance written permission of the instructor, and any such recording properly approved in advance can be used solely for the student’s own private use.

http://www.provost.pitt.edu/info/ai1.html


http://www.drs.pitt.edu/

http://www.copyright.gov/

http://www.cfo.pitt.edu/policies/policy/10/10-04-01.html


7

7


JAN. 2013 – APRIL 2013 THE LISTED MID-TERM TEST DATES ARE TENTATIVE. THE ACTUAL DATES WILL BE ANNOUNCED IN CLASS AT LEAST ONE WEEK IN ADVANCE. DATE TUE TH SUBJECT JAN 8 10 INTRODUCTION, TOPICS STUDIED IN MACRO CH 1, 3, 5 NO RECITATION DURING FIRST WEEK ____________________________________________________________________ JAN 15 17 MACROECONOMIC POLICY GOALS, ECONOMIC FALLACIES,

TYPES OF ECONOMIC STATEMENTS CH 1, 3, 5 NO RECITATION THIS WEEK


OPPORTUNITY COST CH. 2 RECITATION: DIFFERENT ECONOMIC SYSTEMS CH. 2


INTERNATIONAL TRADE CH. 2 RECITATION: SAME

____________________________________________________________________ FEB 5 7 BUSINESS FIRMS, TAXES, STOCKS, BONDS, PRESENT VALUE:

CH. 3 & NOTES RECITATION: PRODUCTION POSSIBILITY CURVE COMPARATIVE ADVANTAGE


MARKET, BOND MARKET, PRESENT VALUE, SOCIAL SECURITY, U.S TAX SYSTEM CH. 3 & KENKEL NOTES

RECITATION: MEASURING GDP CH. 7 ____________________________________________________________________ FEB 19 21 COMPONENTS OF NOMINAL GDP


____________________________________________________________________ FEB 26 28 UNEMPLOYMENT & INFLATION CH. 6, 7

RECITATION: SAME ____________________________________________________________________ MAR 5 MID-TERM EXAM 1 (DATE IS TENTATIVE)


8

8






RECITATION: EXPENDITURE MULTIPLIERS ____________________________________________________________________ APR 2 4 THE FEDERAL BUDGET AND FISCAL POLICY CH. 12, 13




RECITATION: SAME ____________________________________________________________________

FINAL EXAM

NOTE THAT THE EXAM IS AT A SPECIAL TIME MONDAY, APRIL 22 4:00 TO 5:50 PM

REGULAR CLASSROOM FINAL EXAM IS CUMULATIVE (APPROXIMATELY 70 MULTIPLE CHOICE QUESTIONS) (FINAL EXAM TOTAL = 500 POINTS) YOU WILL NEED A CALCULATOR.

1

1


SPRING 2013 JAN. 2013 – APRIL, 2013



9th Edition, Thompson – Southwestern. Only the textbook is required. None of the extra products associated with the book are required.



2

2


JAN. 2013 – APRIL 2013


Office Hours: TU & TH: 8:00 AM to 9:15 AM & 11:00 AM to 11:50 AM TEACHING ASSISTANTS: MR. TEKIN KOSE 4521 WWPH [email protected] 412-648-7039 MS. ZEYNEP KABUKCUOGLU 4518 WWPH [email protected] 412-648-2822 MR. HANSOO CHOI 4909 WWPH [email protected] 412-648-1796 MS. YINGJUN SU [email protected] RECITATIONS: 1. (11482) M 10:00 CL 349 KABUKCUOGLU 2. (10962) M 11:00 CL 349 CHOI 3. (10855) M 12:00 CL 349 CHOI 4. (18154) T 10:00 CL 226 KOSE 5. (10963) T 11:00 CL 226 KOSE 6. (11486) T 1:00 PUBHL A522 KOSE 7. (11487) W 10:00 CL 2320 CHOI 8. (10858) W 11:00 CL 2320 CHOI 9. (11483) W 12:00 CL 2320 KOSE 10. (18155) TH 9:00 WWPH 5130 KABUKCUOGLU 11. (10965) TH 10:00 WWPH 5130 KABUKCUOGLU 12. (11485) TH 11:00 WWPH 5130 KABUKCUOGLU 13. (10857) TH 1:00 EBERL 206 SU 14. (10964) TH 2:00 EBERL 206 SU 15. (11484) F 9:00 WWPH 5405 SU 16. (10856) F 10:00 WWPH 5405 SU CL = CATHEDRAL OF LEARNING PUBHL = PUBLIC HEALTH WWPH = W.W. POSVAR HALL EBERL = EBERLY HALL






3

3


4

4


5

5


6

6








7

7







INTERNATIONAL TRADE CH. 2 RECITATION: SAME







____________________________________________________________________ FEB 26 28 UNEMPLOYMENT & INFLATION CH. 6, 7



8

8






RECITATION: EXPENDITURE MULTIPLIERS ____________________________________________________________________ APR 2 4 THE FEDERAL BUDGET AND FISCAL POLICY CH. 12, 13




RECITATION: SAME ____________________________________________________________________

FINAL EXAM

NOTE THAT THE EXAM IS AT A SPECIAL TIME MONDAY, APRIL 22 4:00 TO 5:50 PM

REGULAR CLASSROOM FINAL EXAM IS CUMULATIVE (APPROXIMATELY 70 MULTIPLE CHOICE QUESTIONS) (FINAL EXAM TOTAL = 500 POINTS) YOU WILL NEED A CALCULATOR.

Introduction to Macroeconomics (ECON 0110) Summer Term 2013 MW: 11:00 – 1:15 WWPH4716

Instructor: Kiyoung Jeon Office: WWPH 4923 Email: [email protected] Office Hour: 1:00 pm - 3:00 pm (Friday) or by appointment TA: Hong Wu ([email protected]), Office Hours: 3:00 pm – 5:00 pm (Tuesday) WWPH 4515 Course Objective This course is designed to introduce students to the principles of macroeconomics. The course starts with an introduction to economics, the vocabulary used by economists and how to measure economic concepts. Students then are introduced to macroeconomic specific issues such as: productivity, growth, unemployment, inflation, exchange rates, national debts, and deficits. Students will also learn the role of the government and the Federal Reserve System in the economy and how their policies affect the growth and cyclical behavior of the economy. By the end of this course, students should be acquainted with models of economic analysis, have an understanding of how macroeconomic outcomes develop, and be able to interpret current economic indicators and functions. Prerequisites There are no prerequisites. However, students are expected to work comfortably with numbers, graphs, and simple algebraic equations. Required Text Hubbard & O’Brien, Macroeconomics, 4th edition, Prentice Hall Courseweb The syllabus, lecture notes, problem sets are posted on Courseweb (https://courseweb.pitt.edu/webapps/login/) Assessment & Grading

Quiz : 25 multiple choice for lectures of the previous week

Midterm exam : 60 multiple choice for Chapter 1-10

Final Exam : 80 multiple choice for Chapter 1-16

Exams and Quizzes Points

Mid-term exam 300

Final exam 500

Quizzes (4) 4*50 = 200

Total 1000

Points Grade Points Grade 900- A 700-749 C 875-899 A- 675-699 C- 850-874 B+ 650-674 D+ 800-849 B 550-649 D 775-799 B- 500-549 D- 750-774 C+ -499 F



Introduction to Macroeconomics (ECON 0110) Summer Term 2013 MW: 11:00 – 1:15 WWPH4716

Make-up Policy Make-up exams are permitted only for documented illness or emergency. The format and type of problems required may not be similar to those on the originally scheduled exam. Academic Integrity You should expect me to abide by the Faculty Conduct guidelines of the School of Arts and Sciences Academic Integrity policy (http://www.as.pitt.edu//fac/policies/academic-integrity) and I expect you to abide by the Student Conduct guidelines. Special Accommodation If you have a disability for which you are or may be requesting an accommodation, you are encouraged to contact both me and Disability Resources and Services, 140 William Pitt Union, (412) 648-7890, as early as possible in the term. DRS (http://www.studentaffairs.pitt.edu/drshome), will verify your disability and determine reasonable accommodations for this course. Schedule

Class Date Topic 1 May 13 Chap 1, Chap 2 2 May 15 Chap 3, Chap 4 3 May 20 Chap 6, Chap 8 Quiz1 (Ch1-4) 4 May 22 Chap 9, Chap 10 5 May 27 Memorial Day No Class 6 May 29 Chap 11 Mid-term 7 June 3 Chap 12, Chap 13 Quiz2 (Ch9-11) 8 June 5 Chap 13, Chap 14 9 June 10 Chap 14, Chap 15 Quiz3 (Ch12-13)

10 June 12 Chap 15, Chap 16 11 June 17 Chap 16 Quiz4 (Ch14-15) 12 June 19 Final exam

Add/drop end: May 15 Withdrawal deadline: June 7

Fall 2013 Economics 0110H S. HustedIntroduction to Macroeconomic Theory

Instructor: Professor Steven Husted Office: 4508 W.W. Posvar Hall Office Hours: T, Th 10:45 - 12 or by appoin tment Telephone: 412-648-1757 E-Mail: [email protected]

This course seeks to provide an introduction to the study of the behavior of market-based economies such as the UnitedStates. Topics covered include (1) an introduction to the use of the fundamental tools of economic analysis: supply anddemand; (2) the concepts of inflation, unemployment, and national output and how these variables behave over time;(3) saving and investment, including the roles of bond and equity markets in the national economy; (4) money andbanking; and (5) the use of models of the macro economy to understand what causes movements in the national economyand the role of governments in controlling these movements.

Text: P. Krugman & R. Wells, Macroeconomics, New York: Worth Publishers, 3 edition, 2013.rd 1

Undergraduate TA: Ellie Kerr ([email protected])Recent U.S. Economic Data: St. Louis Federal Reserve Fred Data Base; Economic IndicatorsWeekly U.S. Economic Data Announcements: Bloomberg.com, Economic Calender

Optional: Throughout the course there will be frequent references to events in the news. To follow these more closely,you are encouraged to read one or more newspapers or news magazines, such as The New York Times, The Wall StreetJournal, The Financial Times, or The Economist, regularly. Access to the content of these publications is available on-line through the University library system (go to the library web page http://www.pitt.edu/libraries.html and link to thepublications using the ejournals page). Alternatively, you might want to subscribe to one of these publications. Onesemester student subscriptions are available for most. Check with me if you need access to a sign up sheet.


Term paper 30%3

In-class exams 50% 4

Economics Blogs:Jared Bernstein at http://jaredbernsteinblog.com/Mark Thoma at http://economistsview.typepad.com/economistsview/James D. Hamilton & Menzie Chinn at http://www.econbrowser.com/David Altig at macroblog.typepad.com/macroblog/

The first two are slightly to the left, the third one neutral, and the last is slightly to the right. These sites often discussreal world issues, and the authors provide their own perspective on these issues. Checking periodically with one or moreof these sites may help you find a topic for your term paper. There are many more blogs by economists. Go toResources for Economists (published by the American Economic Association) to find a list of links.

Homeworks: Every week I will post a set of homework problems. You do not have to hand in homework. No gradeswill be given, and there won’t be answer keys, although some answers appear at the end of the text. Doing the homeworkproblems, either on your own or with your classmates, is important, because these exercises will be very similar to thosefound in the exams. Over the course of the semester the UTA will hold review sessions to discuss these assignmentsand provide help with how to solve the problems.

An E version of this book is available on the CourseSmart web site. Older (and cheaper) editions of this book may be available. 1

Feel free to use them, although there have been a number of changes in this edition from the presentations (including end of chapter questions)found in earlier editions.


Short essay (maximum of 8 pages of text) on a macroeconomic issue or problem facing the United States or any other chosen3

country. Due Monday December 9, 2013. More complete instructions are posted on the CourseWeb site.

Both the midterm and the final week exams will be roughly the same length. However, I will give slightly higher weight to the4

December exam when calculating your final grade.




http://www.gpo.gov/fdsys/browse/collection.action?collectionCode=ECONI

http://www.bloomberg.com/markets/economic-calendar/








http://www.aeaweb.org/rfe/


Week ofTopic Chapter

Aug. 27 Introduction to Economics 1-3

Sept. 2 Macroeconomics & the Macroeconomy 6, 7 (or 21, 22)5

Sept. 9 Unemployment & Inflation 8 (or 23)

Sept. 16 Economic Growth 9 (or 24)

Sept. 23 Saving & Investment 10 (or 25)

Sept. 30 Money, Banking, and the Fed 14 (or 28)

Oct. 7 Midterm Week

Oct. 14 Income & Expenditure 11 (or 26)6

Oct. 21 Aggregate Demand & Supply 12 (or 27)

Oct. 28 Fiscal Policy 13 (or 29)

Nov. 4 Monetary Policy 15 (or 30) & 18 (pp. 531-534)

Nov. 11 Inflation & Deflation 16 (or 31)

Nov. 18 Open Economy Macroeconomics 19 (or 34)

Nov. 25 Open Economy Macroeconomics continued 19 (or 34)7

Dec. 2 Exam Week

Notes:(1) Make-up exams will be allowed only under extreme circumstances, such as illness. In order to schedule

a make-up exam you must notify me prior to the exam and provide a written note from your doctor.(2) G grades are given only in emergencies and only to students who have been doing satisfactory work.


Course Policies

Academic Integrity:Students in this course will be expected to comply with the University of Pittsburgh's Policy on Academic Integrity Anystudent suspected of violating this obligation for any reason during the semester will be required to participate in theprocedural process, initiated at the instructor level, as outlined in the University Guidelines on Academic Integrity. Thismay include, but is not limited to, the confiscation of the examination of any individual suspected of violating UniversityPolicy. Furthermore, no student may bring any unauthorized materials to an exam, including dictionaries andprogrammable calculators.

Disabilities:If you have a disability that requires special testing accommodations or other classroom modifications, you need to notifyboth the Disability Resources and Services office and me no later than the 2nd week of the term. You may be asked toprovide documentation of your disability to determine the appropriateness of accommodations. To notify DisabilityResources and Services, call 412-648-7890 to schedule an appointment. The office is located in 216 William Pitt Union.

Cell Phones:Please turn your phones off at the start of class and refrain TOTALLY from using them, including texting, during class.

The numbers in parentheses refer to chapters in the combined micro/macro text titled Economics by these authors.5

No class Tuesday October 156

No class Thursday November 287

1


FALL 2013 AUG. 2013 – DEC., 2013



10th Edition, Thompson – Southwestern. Only the textbook is required. None of the extra products associated with the book are required. Earlier editions are OK, but some of the chapters have been renumbered.

GRADING SYSTEM: Mid-term exam 1: Approximately 250 points Mid-term exam 2: Approximately 250 points Final exam: Approximately 500 points ______________________ Total 1,000 points GRADE SCALE: A+: 975 TO 1000 A: 925 TO 974 A-: 900 TO 924 B+: 875 TO 899 B: 825 TO 874 B-: 800 TO 824 C+: 775 TO 799 C: 725 TO 774 C-: 700 TO 724 D+: 675 TO 699 D: 625 TO 674 D-: 600 TO 624 EXTRA CREDIT: There is no extra credit available in this course. STRUCTURE OF THE COURSE Two hours of lecture and one hour of recitation per week. Mid-term Test 1: Multiple choice and true-false questions worth approximately 250 total points. You will need a calculator. Mid-term Test 2: Multiple choice and true-false questions worth approximately 250 total points. You will need a calculator. Final exam: Multiple choice and true-false questions worth approximately 500 total points. You will need a calculator.


2

No quizzes or tests in recitations. Your test and exam grades will be posted on Courseweb. After your grades have been posted, you have 10 days to request a correction. Otherwise, your grade will remain unchanged. TEACHING ASSISTANTS: MS. ZEYNEP KABUKCUOGLU 4923 WWPH [email protected] 412-648-1763 Office hours: 8:00 – 11:00 on Mondays MS. YINGJUN SU 4910 WWPH [email protected] 412-649-1792 Office hours: 8:30 – 11:30 on Mondays MR. ETHAN SCHMICK 4523 WWPH [email protected] 412-648-1766 Office hours: 8:00 – 11:00 on Tuesdays MS. YUE LI 4513 WWPH [email protected] 412-648-2825 Office hours: 3:30 – 5:00 on Mondays; 3:30 – 5:00 on Tuesdays RECITATIONS: 1. (11807) TH 4:00 CL 358 SU 2. (11473) TH 5:00 CL 358 SU 3. (11475) F 10:00 CL 206 SCHMICK 4. (11072) F 11:00 CL 221 SCHMICK 5. (11071) F 11:00 CL 244B LI 6. (10984) F 12:00 CL 244B KABUKCUOGLU 7. (10983) F 12:00 CL 306 SCHMICK 8. (11474) F 1:00 CL 249 SCHMICK CL = CATHEDRAL OF LEARNING





3


4

WHAT IS MACROECONOMICS? The course helps explain how the US economy works. Topics covered include factors which influence the level of output and our standard of living in the economy; determinants of the inflation rate & unemployment rate; the stock market, the bond market, the behavior of interest rates, the social security system, the US tax system, theories which explain the consumption and saving behavior of households, the behavior of business firms, how the Federal government influences the economy, the deficit and national debt, the money supply, the banking system, the Federal Reserve System, and how fiscal policy and monetary policy influence the economy. STUDY TIME REQUIREMENTS There is a lot of material to be covered in this course. Be prepared to spend a couple of hours per day reading the book or you will find yourself hopelessly behind at test or exam time. PREREQUISITES No Economics prerequisites. Good knowledge of college algebra. Calculus is not required. THE TEXTBOOK Some lectures present material not covered in the book. The syllabus shows what material will be covered in each lecture. CLASS PREPARATION Read the assigned sections of the text before coming to class. Many lectures cover topics not covered in your book. Take lots of notes. COURSEWEB: The syllabus, lecture notes, practice homeworks and practice tests are posted on Courseweb. ALL the lecture notes are posted under Course Documents. That is, even the syllabus is listed under Course Documents. MISSING A TEST OR EXAM Dates for the mid-term exams are tentative and may be moved back slightly depending on how quickly we have covered the assigned material. The exact date for each test will be announced in class at least one week in advance. You need a valid reason to delay an exam, (serious illness, death in the family, etc.) Contact me in class, by e-mail, or by phone BEFORE the exam, so we can discuss a suitable arrangement for a make-up exam. If you need to miss a test or exam, you MUST eventually give me some documentation to justify your excuse.

5


6








7


AUG. 2013 – DEC. 2013 THE LISTED MID-TERM TEST DATES ARE TENTATIVE. THE ACTUAL DATES WILL BE ANNOUNCED IN CLASS AT LEAST ONE WEEK IN ADVANCE. DATE TUE TH SUBJECT AUG 27 29 INTRODUCTION, TOPICS STUDIED IN MACRO CH 1, 3, 5 NO RECITATION DURING FIRST WEEK ____________________________________________________________________ SEP 3 5 MACROECONOMIC POLICY GOALS, ECONOMIC FALLACIES,


____________________________________________________________________ SEP 10 12 PRODUCTION POSSIBILITY CURVE,


____________________________________________________________________ SEP 17 19 GAINS FROM TRADE, COMPARATIVE ADVANTAGE


____________________________________________________________________ SEP 24 26 BUSINESS FIRMS, TAXES, STOCKS, BONDS, PRESENT VALUE:

CH. 3, 12 & NOTES RECITATION: PRODUCTION POSSIBILITY CURVE COMPARATIVE ADVANTAGE

____________________________________________________________________ OCT 1 3 LEGAL ORGANIZATION OF BUSINESS FIRMS, TAXES, STOCK


RECITATION: MEASURING GDP CH. 7 ____________________________________________________________________ OCT 8 10 COMPONENTS OF NOMINAL GDP


____________________________________________________________________ OCT 15 NO LECTURE AND NO RECITATION OCT 17 UNEMPLOYMENT & INFLATION CH. 6, 7, 16

RECITATION: SAME ____________________________________________________________________ OCT 22 MID-TERM EXAM 1 (DATE IS TENTATIVE)

ALL MATERIAL UP TO AND INCLUDING COMPONENTS OF GDP ____________________________________________________________________

8

OCT 24 THE CONSUMPTION FUNCTION CH. 9 RECITATION: SAME

____________________________________________________________________ OCT 29 31 AGGREGATE EXPENDITURE AND EQUILIBRIUM OUTPUT

EXPENDITURE MULTIPLIERS CH. 9 RECITATION: SAME

____________________________________________________________________ NOV 5 7 THE FEDERAL BUDGET AND FISCAL POLICY CH. 11, 12

RECITATION: EXPENDITURE MULTIPLIERS ____________________________________________________________________ NOV 12 14 THE FEDERAL BUDGET AND FISCAL POLICY CH. 11, 12, 16


____________________________________________________________________ NOV 19 MID-TERM EXAM 2 (DATE IS TENTATIVE)

CUMULATIVE INCLUDING EXPENDITURE MULTIPLIERS YOU WILL NEED A CALCULATOR NOV 21 MONEY AND THE BANKING SYSTEM CH. 13, 14 ____________________________________________________________________ NOV 26 THE FEDERAL RESERVE SYSTEM CH. 13, 14

RECITATION: SAME NOV 28 THANKSGIVING BREAK STARTS NOV. 27 NO RECITATIONS ON WEDNESDAY ____________________________________________________________________ DEC 3 5 THE FEDERAL RESERVE SYSTEM CH. 13, 14

RECITATION: SAME FINAL EXAM DATE: WEDNESDAY, DEC. 11, 4:00 PM – 5:50 PM EXAM CLASSROOM = NOON CLASS USES DL 121 1 PM CLASS USES DL 120 GRADES DUE: WEDNESDAY, DEC. 18

1


FALL 2013 AUG. 2013 – DEC., 2013






2

No quizzes or tests in recitations. Your test and exam grades will be posted on Courseweb. After your grades have been posted, you have 10 days to request a correction. Otherwise, your grade will remain unchanged. TEACHING ASSISTANTS: MS. ZEYNEP KABUKCUOGLU 4923 WWPH [email protected] 412-648-1763 Office hours: 8:00 – 11:00 on Mondays MS. YINGJUN SU 4910 WWPH [email protected] 412-649-1792 Office hours: 8:30 – 11:30 on Mondays MR. ETHAN SCHMICK 4523 WWPH [email protected] 412-648-1766 Office hours: 8:00 – 11:00 on Tuesdays MS. YUE LI 4513 WWPH [email protected] 412-648-2825 Office hours: 3:30 – 5:00 on Mondays; 3:30 – 5:00 on Tuesdays RECITATIONS: 1. (11477) W 3:00 CL 208A LI 2. (11478) W 3:00 CL 349 KABUKCUOGLU 3. (11479) W 4:00 CL 349 KABUKCUOGLU 4. (10980) W 4:00 CL 208A LI 5. (10979) W 5:00 CL 349 KABUKCUOGLU 6. (10978) W 5:00 CL 208A LI 7. (12190) F 10:00 VICT 117 SU 8. (10981) F 11:00 VICT 117 SU CL = CATHEDRAL OF LEARNING VICT = VICTORIA HALL





3


4


5


6








7











MARKET, BOND MARKET, PRESENT VALUE, SOCIAL SECURITY, U.S TAX SYSTEM CH. 3, 12 & KENKEL NOTES






8











1


FALL 2013 AUG. 2013 – DEC., 2013






2

No quizzes or tests in recitations. Your test and exam grades will be posted on Courseweb. After your grades have been posted, you have 10 days to request a correction. Otherwise, your grade will remain unchanged. TEACHING ASSISTANTS: MS. ZEYNEP KABUKCUOGLU 4923 WWPH [email protected] 412-648-1763 Office hours: 8:00 – 11:00 on Mondays MS. YINGJUN SU 4910 WWPH [email protected] 412-649-1792 MR. ETHAN SCHMICK 4523 WWPH [email protected] 412-648-1766 Office hours: 10:00 – 1:00 on Mondays MS. YUE LI 4513 WWPH [email protected] 412-648-2825 RECITATIONS: 1. (11807) TH 4:00 CL 358 SU 2. (11473) TH 5:00 CL 358 SU 3. (11475) F 10:00 CL 206 SCHMICK 4. (11072) F 11:00 CL 221 SCHMICK 5. (11071) F 11:00 CL 244B LI 6. (10984) F 12:00 CL 244B KABUKCUOGLU 7. (10983) F 12:00 CL 306 SCHMICK 8. (11474) F 1:00 CL 249 SCHMICK CL = CATHEDRAL OF LEARNING





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4


5


6








7

















8











1


FALL 2013 AUG. 2013 – DEC., 2013






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No quizzes or tests in recitations. Your test and exam grades will be posted on Courseweb. After your grades have been posted, you have 10 days to request a correction. Otherwise, your grade will remain unchanged. TEACHING ASSISTANTS: MS. ZEYNEP KABUKCUOGLU 4923 WWPH [email protected] 412-648-1763 Office hours: 8:00 – 11:00 on Mondays MS. YINGJUN SU 4910 WWPH [email protected] 412-649-1792 MR. ETHAN SCHMICK 4523 WWPH [email protected] 412-648-1766 Office hours: 10:00 – 1:00 on Mondays MS. YUE LI 4513 WWPH [email protected] 412-648-2825 Office hours: 3:30 – 5:00 on Mondays; 3:30 – 5:00 on Tuesdays RECITATIONS: 1. (11477) W 3:00 CL 208A LI 2. (11478) W 3:00 CL 349 KABUKCUOGLU 3. (11479) W 4:00 CL 349 KABUKCUOGLU 4. (10980) W 4:00 CL 208A LI 5. (10979) W 5:00 CL 349 KABUKCUOGLU 6. (10978) W 5:00 CL 208A LI 7. (12190) F 10:00 VICT 117 SU 8. (10981) F 11:00 VICT 117 SU CL = CATHEDRAL OF LEARNING VICT = VICTORIA HALL





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4


5


6








7











MARKET, BOND MARKET, PRESENT VALUE, SOCIAL SECURITY, U.S TAX SYSTEM CH. 3, 12 & KENKEL NOTES






8












1



Spring 2014



Class Times: M-W (12-12:50); Room 120; Lwrns Bldg

Office Hours: W-F (9:30-10:30); Room 4930A; and by app.


TA 1: Diego Lame [email protected]

TA 2: Kiyoung Jeon [email protected]

Final Exam: Tuesday, April 22, 8:00-9:50 AM












equations).



Prentice Hall, 4/e; 2014.



Specific homework tasks will be assigned throughout the course, under


Web site, http://www.pearsonmylabandmastering.com/northamerica/myeconlab/

This interactive study guide also provides additional resources such as

PowerPoint slides with graphs, tables, and chapter key terms.





http://www.pearsonmylabandmastering.com/northamerica/myeconlab/


2

E. Class Preparation and Study Time Requirements: There is a lot of material to be covered in this course. Read the assigned sections of the


book or you will find yourself hopelessly behind at test or exam time.













The final exam is scheduled for Tuesday 4/22, 8:00 AM -9:50 AM







-will be due on specified dates during the term. These assignments will constitute

the remaining 20% of your grade. They must be completed by 11:59 PM on its

corresponding due date, and will not be available after the due date. If a student

misses a graded assignment, he/she will receive a zero. There are no make-ups

for these assignments. Step-by-step instructions on how to register with

Myeconlab are posted on the CourseWeb.



4- Problem sets will be distributed weekly and will be discussed during recitations

sessions the following week. These are not assessed but are a fundamental part of

the course. You are expected to attempt these assignments before attending your

recitation.



3

5- Late submissions of work or re-sits of exams are only acceptable in extreme

circumstances, such as severe illness/injury/death in immediate family/jury duty.

A health certificate from a doctor or other evidence is required. If for any reason

you cannot meet a deadline you must IMMEDIATELY notify me or the TAs

prior to the exam by email. If you simply do not show up, you will earn a zero.

This option can only be used for the first OR the second mid-term, NOT both.

You MUST take the final exam.




7- There is no extra credit in this course.



92 – 100: A 90 – 91: A-

88 – 89: B+ 82 – 87: B

80 – 81: B- 78 – 79: C+

72 – 77: C 70 – 71: C-

68 – 69: D+ 62 – 67: D

60 – 61: D- 0 – 59: F




25 total points


25 total points


30 total points







asked.




4


follows:





5- Click on any item and download or print out the material.

You may want to reformat the lecture notes to condense them to save paper.

J. Attendance:

Attendance is not required in lecture nor recitations. However, I highly recommend you

attend both. Lectures will make it easy to read the textbook and get good grades on the

exams. Lectures will also help develop the graphs in a way that makes them easier to

understand than just reading the text.



K. Classroom Etiquette: In this class you are obliged to observe the following:


If you repeatedly interrupt the class with late arrival or early departure you will be

asked to withdraw from the course.



the use of mobile communications devices for email or communication) that

might disturb or otherwise distract others.

3- You are also expected not to interrupt other students if they are asking questions

or making comments to the instructor and class.



5- You are asked not to read any outside material in class.

L. Getting Help:

Advice: If you don't understand a particular point in the lecture, raise your hand and ask

on the spot or ask during office hours. For detailed questions about the text, problems,

and readings, talk to the TA in your recitation or in their office hours. You can also reach

the TAs or me by email (addresses listed above). Your email question or inquiry will be



Tutoring: The Academic Resource Center (ARC) offers peer tutoring services to all

students enrolled in Econ 0110, for the Spring 2014 semester. The center is open Monday

through Friday from 9am to 4pm. Tutoring sessions are generally one hour long. Please


5

make an appointment in advance by calling 412-648-7920. The first day for tutoring

appointments is Tuesday, January 21st, and students can begin signing up for

appointments as of the first day of classes. The ARC is located in G1 Gardner Steel

Conference Center, right next to Thackeray Hall. Small group and individual tutoring is

also available on a walk-in basis every Sunday and Monday between 6-9pm in Room 111

of the O’Hara Student Center.

M. Academic Integrity: It is your responsibility to do your own work. Do not look around during exams and keep




Academic Integrity.

N. Students with Special Needs The Office of Disability Resources and Services (216 William Pitt Union, 412-624-7890)



O. To Complete Your Assignments:

1- Get Your PeopleSoft Number Your tests will be in multiple choice format and your answers will be recorded on

Scantrons sheets. In order for the computer to record your scores, you must fill in your

PeopleSoft Number on the Scantron. The following instructions show how to access

your PeopleSoft Number.








2- Register and Enroll in “MyEconLab” Course: Textbook: Hubbard/O'Brien: Macroeconomics 4e

Your Course Name: Econ/0110

Your Course ID: el-hamidi96934

To register for Econ/0110:

1. Go to pearsonmylabandmastering.com.

2. Under Register, click Student.

3. Enter your instructor’s course ID: el-hamidi96934, and click Continue.


6

4. Sign in with an existing Pearson account or create an account:

a) If you have used a Pearson website (for example, MyITLab, Mastering,

MyMathLab, or MyPsychLab), enter your Pearson username and password.

Click Sign in.

b) If you do not have a Pearson account, click Create. Write down your new

Pearson username and password to help you remember them.

5. Select an option to access your instructor’s online course:

a) Use the access code that came with your textbook or that you purchased

separately from the bookstore.

b) Buy access using a credit card or PayPal.

c) If available, get 14 days of temporary access. (Look for a link near the bottom

of the page.)

6. Click Go To Your Course on the Confirmation page. Under MyLab & Mastering

New Design on the left, click Econ/0110 to start your work.

Retaking or continuing a course? If you are retaking this course or enrolling in another course with the same book, be

sure to use your existing Pearson username and password. You will not need to pay

again.

To sign in later: 1. Go to pearsonmylabandmastering.com.

2. Click Sign in.

3. Enter your Pearson account username and password. Click Sign in.

4. Under MyLab & Mastering New Design on the left, click Econ/0110 to start your

work.

Additional Information

See Students > Get Started on the website for detailed instructions on registering

with an access code, credit card, PayPal, or temporary access.


7









2




2



1st Assignment Posted

3



3



1st Assignment Due @ 11:59PM,

Monday 2/3

4



4



and Income

8


and Income

8


2nd Assignment Posted

9




2nd Assignment Due @ 11:59PM,

Wednesday 2/26

10



10



11

Sunday-Sunday 9-16

March



8



11


3rd Assignment Posted

13



3rd Assignment Due @ 11:59PM,

Wednesday 3/26

13

Monday, March 31 Money, Banks and the Federal

System

14


System

14


Wednesday, April 9 Monetary Policy

4th Assignment Posted

15



4th Assignment Due @ 11:59PM,

Wednesday 4/16

16

Tuesday, April 22 Final Exam: 8:00-9:50 AM

1


SPRING 2014: TERM 2144 JAN. 2014 – APRIL 2014






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No quizzes or tests in recitations. Your test and exam grades will be posted on Courseweb. After your grades have been posted, you have 10 days to request a correction. Otherwise, your grade will remain unchanged. TEACHING ASSISTANTS: MR. YIMING LIU 4512 WWPH [email protected] 412-648-1795 MR LEONARDO ORTEGA 4519 WWPH [email protected] 412-648-2824 Office hours: 2:00 P.M. to 5:00 P.M. on Tuesdays MS. YINGJUN SU 4910 WWPH [email protected] 412-649-1792 MR. RICKY SVOBODA 4521 WWPH [email protected] 412-648-7039 Office Hours: 9:00 A.M. to Noon on Wednesdays in Room 4524 WWPH RECITATIONS: 1. (11426) M 10:00 CL 249 SVOBODA 2. (10931) M 11:00 CL 249 SVOBODA 3. (10824) M 12:00 CL 249 SVOBODA 4. (17644) T 10:00 CL 226 SU 5. (10932) T 11:00 CL 226 LIU 6. (11430) T 1:00 WWPH 5404 LIU 7. (11431) W 10:00 CL 335 SU 8. (10827) W 11:00 CL 335 SU 9. (11427) W 12:00 CL 335 SU 10. (17645) TH 9:00 CL 226 SVOBODA 11. (10934) TH 10:00 CL 226 LIU 12. (11429) TH 11:00 CL 226 LIU 13. (10826) TH 1:00 BENDM G31 ORTEGA 14. (10933) TH 2:00 BENDM G31 ORTEGA 15. (11428) F 9:00 WWPH 4900 ORTEGA 16. (10825) F 10:00 CL 349 ORTEGA CL = CATHEDRAL OF LEARNING WWPH = POSVAR HALL BENDM = BENEDUM HALL





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____________________________________________________________________ FEB 25 27 UNEMPLOYMENT & INFLATION CH. 6, 7, 16



8






RECITATION: EXPENDITURE MULTIPLIERS ____________________________________________________________________ APR 1 3 THE FEDERAL BUDGET AND FISCAL POLICY CH. 11, 12, 16




RECITATION: SAME ____________________________________________________________________

FINAL EXAM

NOTE THAT THE EXAM IS AT A SPECIAL TIME TUESDAY, APRIL 22 8:00 TO 9:50 AM

REGULAR CLASSROOM FINAL EXAM IS CUMULATIVE (APPROXIMATELY 70 MULTIPLE CHOICE QUESTIONS) (FINAL EXAM TOTAL = APPROXIMATELY 500 POINTS) YOU WILL NEED A CALCULATOR.

ECON 0110 Summer 2014



Summer 2014

Econ 0110: Introduction to Macroeconomics Instructor: Kiyoung Jeon ([email protected])

Class times: T-H 11:00 am – 1:15 pm

Class room: Posvar Hall 3415

Office: Posvar Hall 4923

Office Hour: 1:30 pm - 3:30 pm, Thursday or by appointment

TA: Hakki Lee ([email protected])

Final Exam: Thursday, June 19, 11:00 AM - 1:15 PM Course Objective

This course is designed to introduce students to the principles of macroeconomics. The course starts with an introduction to economics, the vocabulary used by economists and how to measure economic concepts. Students then are introduced to macroeconomic specific issues such as: productivity, growth, unemployment, inflation, exchange rates, national debts, and deficits. Students will also learn the role of the government and the Federal Reserve System in the economy and how their policies affect the growth and cyclical behavior of the economy. By the end of this course, students should be acquainted with models of economic analysis, have an understanding of how macroeconomic outcomes develop, and be able to interpret current economic indicators and functions. Prerequisites

There are no prerequisites. However, students are expected to work comfortably with numbers, graphs, and simple algebraic equations.

Required Text

Hubbard & O’Brien, Macroeconomics, 4th edition, Prentice Hall (http://www.mypearsonstore.com/bookstore/macroeconomics-0132832208)

❖ You can buy the textbook in Amazon or the university store. Class Participation and Study Time Requirement

There is a lot of material to be covered in this course. Read the assigned sections of the


book or you will find yourself hopelessly behind at test or exam time. Courseweb

The syllabus, lecture notes, and homework assignments are posted on Courseweb

(https://courseweb.pitt.edu/webapps/login/)



http://www.mypearsonstore.com/bookstore/macroeconomics-0132832208

https://courseweb.pitt.edu/webapps/login/


Assessment & Grading

Your final grade is distributed as follows: two midterm exams (20% each), a final exam (40%), and three homework assignments (20%)

1. Two midterm exams will each constitute 20% of the final grade. The first midterm exam will cover chapter 1-4 and take place during lecture time for one hour on May 22. The second midterm exam will cover chapter 8-11 and take place on June 5.

2. A final exam will be cumulative and include chapter 10-16. This exam is scheduled on June 19. All exams are closed book. You will need a calculator.

3. Three homework assignment will be posted on Courseweb one or two weeks before the due date. You should submit your homework assignments before the class begins on the due date (See the schedule table).

4. Late submissions of homeworks or re-sits of exams are only acceptable in extreme circumstances, such as severe illness/injury/death in immediate family/jury duty. A health certificate from a doctor or other evidence is required. If for any reason you cannot meet a deadline you must IMMEDIATELY notify me or the TA prior to the exam by email. If you simply do not show up, you will earn a zero. This option can only be used for the first OR the second midterm, NOT both. You MUST take the final exam

5. I will use CourseWeb (http://courseweb.pitt.edu) email option for communication, to report test stats, and to notify students about any changes in the course. It is a student’s responsibility to check the University email account on a regular basis.

6. Your final grades will be calculated by weighting each score according to the weights indicated above and will be rounded to the nearest whole integer.

92 – 100: A 90 – 91: A- 88 – 89: B+ 82 – 87: B

80 – 81: B- 78 – 79: C+ 72 – 77: C 70 – 71: C-

68 – 69: D+ 62 – 67: D 60 – 61: D- 0 – 59: F

Recitations

ㆍ TA will cover the weekly chapter/subject.

ㆍ TA may cover new material not covered in class lectures.

ㆍ TA will answer questions related to homework assignments, if asked.

ㆍ No quizzes or tests will be given during recitations.


Attendance

Attendance is not required in lecture nor recitations. However, I highly recommend you attend both. Lectures will make it easy to read the textbook and get good grades on the exams. Lectures will also help develop the graphs in a way that makes them easier to understand than just reading the text. ❖ Remember: If you miss a class meeting, you are expected to obtain notes and other


Academic Integrity

You should expect me to abide by the Faculty Conduct guidelines of the School of Arts and Sciences Academic Integrity policy (http://www.as.pitt.edu//fac/policies/academic-integrity) and I expect you to abide by the Student Conduct guidelines.

Special Accommodation

If you have a disability for which you are or may be requesting an accommodation, you are encouraged to contact both me and Disability Resources and Services, 140 William Pitt Union, (412) 648-7890, as early as possible in the term. DRS (http://www.studentaffairs.pitt.edu/drshome), will verify your disability and determine reasonable accommodations for this course.


Course Schedule

ㆍ All topics are tentative, and may be revised during the course of the semester as deemed appropriate by the instructor.

ㆍ Your homework assignments must be submitted before the class begins on the due date.

ㆍ All exams are closed book. You will need a calculator.

Class Date Topic Homework

1 May 13 Introduction and Chapter 1 HW 1 (Ch 1-4)

2 May 15 Chapter 2, 3


4 May 22 Chapter 9 and

First midterm (Ch 1-4) HW 1 due

5 May 27 Chapter 9, 10 HW 2 (Ch 8-11)


7 June 3 Chpater 11, 13

8 June 5 Chapter 13 and

Second midterm (Ch 8-11) HW 2 due

9 June 10 Chapter 14, 15 HW 3 (Ch 13-16)

10 June 12 Chapter 15, 16

11 June 17 Chapter 16

12 June 19 Final exam (Ch 10-16) HW 3 due

Syllabus for Introduction to Macroeconomic TheorySummer 2014: Monday and Wednesday 11-1:15 WWPH 4716

Instructor: Ricky SvobodaEmail: [email protected] Hour: W 1:30-2:30 pmOffice Location: WWPH 4521

TA: Hong WuEmail: [email protected] Hour: M 3:00-5:00 pmOffice Location: WWPH 4515

Course Description: The focus of this course is macroeconomics, the study of the overall econ-omy. The course starts with an introduction to economics, the vocabulary used by economists andhow to measure economic concepts. Students then are introduced to macroeconomic specific issuessuch as: productivity, growth, unemployment, inflation, national debts, and deficits. Students willalso learn the role of the government and the Federal Reserve System in the economy and how theirpolicies affect the growth and cyclical behavior of the economy.

Textbook: Krugman & Wells, Macroeconomics, New York: Worth Publishers, 3rd edition, 2013The book is available online from the publisher’s website or most other book sellers. Older editionsare allowed, however, be aware the order of questions and chapters may not be the same. Whendiscussing the book I will discuss the third edition, if you have an older edition it will be yourresponsibility to find the corresponding sections.

Grading: Your final grade will be distributed as follows one mid-term exam (35 %), a cumulativefinal exam (35%), weekly homework assignments (20 %), and weekly quizzes (10%). The mid-termexam will be during class on Monday June 2nd. The final exam will be during class on WednesdayJune 18th. The weekly homework assignments will be posted on courseweb and are due everyWednesday at 11am. Late submissions will not be accepted.

Letter Grade Distribution: The letter grades corresponding to final grades are as follows:

>= 93.00 A 80.00 - 82.99 B- 67.00 - 69.99 D+90.00 - 92.99 A- 77.00 - 79.99 C+ 63.00 - 66.99 D87.00 - 89.99 B+ 73.00 - 76.99 C 60.00 - 62.99 D-83.00 - 86.99 B 70.00 - 72.99 C- <= 59.99 F

Recitations: Recitations will be held on Mondays from 1:30-2:55 in Posvar 4716. The best wayto learn the principles of economics is to actively use them by solving problems that both test andextend your understanding. Your TA will discuss answers to the problem sets and offer suggestionson how to set up and solve them. The fact that your TAs answers make sense to you is no proofthat you are ready to solve the same kinds of problems on an exam. The only way to acquire thisability is to attempt the problems before you see the answers. If you cannot solve the problembefore recitation, you should return to it after recitation and make sure that you can solve it onyour own. At the end of recitation, there will be a short quiz on the previous week’s material. Thelowest quiz grade will be dropped.

Attendance Policy: I will not take attendance during class. I highly recommend you attendthe lecture. Lectures will make it easier to read the textbook and get good grades on the exams.

1

The lectures will emphasize some points in the textbook and tell you which points and examplesto skip. Finally, the lectures contain many hints about the nature of questions to be asked on theexams, and students who attend the lectures and pick up these hints will do better than studentswho do not.

Electronic Policy: Cell phones and other mobile devices should not be used during class. Theonly exception to this policy is laptops which can be used for only for taking notes.

University Policy: This class will adhere to the university’s Academic Integrity Policy. See theUniversity of Pittsburgh’s Undergraduate Bulletin or the Guidelines on Academic Integrity, Studentand Faculty Obligations, and Hearing Procedures at http://www.provost.pitt.edu/info/ai1.html forfull details.

The Office of Disability Resources and Services, 140 William Pitt Union (412)-624-7890 is availablefor students who have or may request an accommodation for a disability. If needed, please contactthe office as early as possible in the term.

2

Tentative Course Outline:

All dates and topics are tentative, and may be revised during the course of the semester as deemedappropriate by the instructor

Date Content

May 12 • Introduction to Economics

• Reading: Chapters 1 & 2

May 14 • Supply and Demand

• Reading: Chapter 3

May 19 • Macroeconomics and The Macroeconomy


May 21 • Unemployment and Inflation


May 26 • NO CLASS: Memorial Day

May 28 • Long-Run Economic Growth


June 02 • Midterm Exam

June 04 • Short-Run Economic Fluctuations


June 09 • Fiscal Policy


June 11 • Money, Banking, the Fed, and Monetary Policy


June 16 • Inflation and Deflation/Crises


June 18 • Final Exam

3

Econ 0110 -‐ Introduction to Macroeconomics 10479 -‐ 6Week2 -‐ Summer 2014

T&H 11:00 am-‐1:15 pm, WWPH 4900

Instructor: Siying Liu Office: Posvar 4522 Office hours: Thurs. 1:15-‐2:30pm or by appointment Email: [email protected] TA: Qixin He Office: Posvar 4909 Office hours: Thurs. 1:15-‐3:00pm Email: [email protected] Objective: This course introduces students to macroeconomics, the study of the overall economy. The course starts with an introduction to economics, the vocabulary used by economists and how to measure economic concepts. It then introduces macroeconomic specific issues such as: productivity, unemployment, inflation, national debts and deficits. Students will then learn the role of the government and the Federal Reserve System in the economy and how their policies affect the growth and cyclical behavior of the economy. Text: P. Krugman & R. Wells, Macroeconomics, New York: Worth Publishers, Third edition, 2013.1 The second edition is fine. Grading:

1. Five weekly Homework: 5*4% = 20%, due Tuesday at the beginning of each recitation (week 2-‐6). Late assignments will receive a zero.

2. Midterm exam: 40%. Closebook + Calculator. 3. Final Exam: 40%. Closebook + Calculator.

Notes: 1. Although the final exam is not cumulative, remember that the material in the

text is cumulative in nature. 2. No extra credits.

Recitations: Recitations will be held on Tuesday from 1:30-‐2:55pm in Posvar 4900. Your TA will discuss answers to the problem sets and/or extra problems from the textbook (selected end-‐of-‐chapter problems which will be listed on lecture slides) and offer suggestions on how to set up and solve them. The fact that your TA’s answers make sense to you is no proof that you are ready to solve the same kinds of problems on an exam. The only way to acquire this ability is to attempt the problems before you see the answers. If you cannot solve the problem before recitations, you should return to it after recitation and make sure that you can solve it on your own.

1 http://www.worthpublishers.com/Catalog/product/macroeconomics-‐thirdedition-‐krugman

Academic Integrity: This class will adhere to the university’s Academic Integrity Policy. See the University of Pittsburgh’s Undergraduate Bulletin or the Guidelines on Academic Integrity, Student and Faculty Obligations, and Hearing Procedures at http://www.provost.pitt.edu/info/ai1.html for full details. Disability Resources: The Office of Disability Resources and Services (216 William Pitt Union, 412-‐624-‐7890) is available for students who have requested or wish to request accommodation for a disability. If needed please contact the office as early as possible in the term. Tentative Schedule and Reading Chapters:2 Week Date Lecture Topic Reading 1 June 24 1 Introduction to Economics Ch. 1-‐2 1 June 26 2 Supply and Demand Ch. 3 2 July 1 3 Big Picture and Measuring Macro Variables Ch. 6-‐7 2 July 3 4 Unemployment and Inflation Ch. 8 3 July 8 5 Long-‐Run Economic Growth Ch. 9-‐10 3 July 10 Midterm Exam 4 July 15 6 Short-‐Run Economic Fluctuations Ch. 11-‐12 4 July 17 7 Fiscal Policy Ch. 13 5 July 22 8 Money, Banking and the Fed Ch. 14 5 July 24 9 Monetary Policy Ch. 15 6 July 29 10 Inflation, disinflation and deflation Ch. 16 6 July 31 Final Exam

Notes: Make-‐up exams will be allowed only under extreme circumstances, such as illness. In order to schedule a make-‐up exam you must notify me prior to the exam (48 hours earlier) and provide a written note from your doctor.

2 All dates and topics are tentative, and may be revised during the course of the semester as deemed appropriate by the instructor. Updates of changes as well as other notices will be posted on the CourseWeb.

1

ECON 0110 (10869): INTRODUCTORY MACROECONOMICS T H 12:00 TO 12:50

ALUMNI HALL AUDITORIUM, 7TH FLOOR FALL 2014: TERM 2151

AUGUST 2014 – DECEMBER 2014


Office Hours: TU & TH: 8 AM to 9:15 AM and 11 AM to 11:50 AM TEXT: Macroeconomics, A Contemporary Introduction, William A. McEachern,




2

No quizzes or tests in recitations. Your test and exam grades will be posted on Courseweb. After your grades have been posted, you have 10 days to request a correction. Otherwise, your grade will remain unchanged. TEACHING ASSISTANTS: MR. YIMING LIU 4512 WWPH [email protected] 412-648-1795 MR LEONARDO ORTEGA 4519 WWPH [email protected] 412-648-2824 Office hours: 2:00 P.M. to 5:00 P.M. on Tuesdays MS. YINGJUN SU 4910 WWPH [email protected] 412-649-1792 Office hours: Tuesday 11AM to Noon; Wednesday 1 P.M. to 3 P.M. MR. RICKY SVOBODA 4521 WWPH [email protected] 412-648-7039 Office Hours: 9:00 A.M. to Noon on Wednesdays in Room 4524 WWPH RECITATIONS: 1. (11338) W 3:00 CL 306 2. (11339) W 3:00 CL 349 3. (11340) W 4:00 CL 306 4. (10872) W 4:00 CL 349 5. (10871) W 5:00 CL 306 6. (10870) W 5:00 CL 349 7. (11980) F 10:00 CL 221 8. (10873) F 11:00 CL 221 CL = CATHEDRAL OF LEARNING WWPH = POSVAR HALL





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4


5

TESTS AND EXAMS ARE CLOSED BOOK: You will need a calculator. RECITATIONS 1. The syllabus shows what will be covered during each recitation. 2. TAs may cover new material not covered in class lectures. 3. TAs will answer questions about the practice homework problems, if asked. 4. No quizzes or tests will be given during recitations. GETTING HELP If you need some free tutoring help you should take advantage of the ARC’s peer tutoring services. ARC offers free tutoring to all students enrolled in Economics 0100 & 0110! The center is open Monday through Friday from 9am to 4pm. Tutoring sessions are generally one hour long, and we encourage students to make an appointment in advance by calling 412-648-7920. Students can begin signing up for appointments as of the first day of classes. The ARC is located in G1 Gardner Steel Conference Center, right next to Thackeray Hall. Alternatively, if you need help, first see me in the classroom just before or after class. Usually I can answer your questions in a minute or two. Alternatively, for help, contact me or your TA during our office hours, by telephone, by e-mail, or make an appointment. ADD-DROP A COURSE: Enrollment Forms and Drop Forms are available in the Registration Office, G-1 Thackeray Hall. COURSE WITHDRAWAL: To withdraw from a course after the official end of the add/drop period, you must process a “Monitored Withdrawal Request” form. It can be obtained through the dean’s office in Thackeray Hall (412-624-6480). Approval for you to withdraw from a course is at the discretion of the dean. There is no tuition reimbursement associated with a course withdrawal. W, G, AND I GRADES INSTRUCTORS CANNOT GIVE W GRADES; YOU MUST SEE THE DEAN. The University has cut-off dates for W grades. G grades are given only when students who have been attending a course and have been making regular progress are prevented by EXTENUATING CIRCUMSTANCES (usually illness) from completing the course after it is too late to withdraw. CAS requires that G grades be completed within the next term. I: I grades are for graduate thesis research.

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ECON 0110 (10869): INTRODUCTORY MACROECONOMICS T H 12:00 12:50

ALUMNI HALL AUDITORIUM, 7TH FLOOR AUGUST 2014 – DECEMBER 2014

THE LISTED MID-TERM TEST DATES ARE TENTATIVE. THE ACTUAL DATES WILL BE ANNOUNCED IN CLASS AT LEAST ONE WEEK IN ADVANCE. DATE TUE TH SUBJECT AUG 26 28 INTRODUCTION, TOPICS STUDIED IN MACRO CH 1, 3, 5 NO RECITATION DURING FIRST WEEK ____________________________________________________________________ SEP 2 4 MACROECONOMIC POLICY GOALS, ECONOMIC FALLACIES,







CH. 3,12 & NOTES RECITATION: PRODUCTION POSSIBILITY CURVE COMPARATIVE ADVANTAGE

____________________________________________________________________ SEP 30 OCT 2 NOTE CLASSROOM CHANGE FOR OCTOBER 2 ONLY ON OCTOBER 2, THE NOON CLASS WILL MEET IN 343 ALUMNI HALL. THE 1 PM CLASS WILL MEET IN THE 7TH FLOOR AUDITORIUM, AS USUAL. LEGAL ORGANIZATION OF BUSINESS FIRMS, TAXES, STOCK

MARKET, BOND MARKET, PRESENT VALUE, SOCIAL SECURITY, U.S TAX SYSTEM CH. 3, & KENKEL NOTES



____________________________________________________________________ OCT 14 NO LECTURE AND NO RECITATION

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OCT 16 UNEMPLOYMENT & INFLATION CH. 6, 7, 16 RECITATION: SAME

OCT 21 MID-TERM EXAM 1 (DATE IS TENTATIVE) ALL MATERIAL UP TO AND INCLUDING COMPONENETS OF GDP ____________________________________________________________________ OCT 23 THE CONSUMPTION FUNCTION CH. 9

RECITATION: SAME ____________________________________________________________________ OCT 28 30 AGGREGATE EXPENDITURE AND EQUILIBRIUM OUTPUT








RECITATION: SAME FINAL EXAM DATE: UNKNOWN EXAM CLASSROOM = UNKNOWN GRADES DUE: WEDNESDAY, DEC. 17

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ALUMNI HALL AUDITORIUM, 7TH FLOOR FALL 2014: TERM 2151



Office Hours: TU & TH: 8 AM to 9:15 AM and 11 AM to 11:50 AM TEXT: Macroeconomics, A Contemporary Introduction, William A. McEachern,




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No quizzes or tests in recitations. Your test and exam grades will be posted on Courseweb. After your grades have been posted, you have 10 days to request a correction. Otherwise, your grade will remain unchanged. TEACHING ASSISTANTS: MR. YIMING LIU 4512 WWPH [email protected] 412-648-1795 MR LEONARDO ORTEGA 4519 WWPH [email protected] 412-648-2824 Office hours: 2:00 P.M. to 5:00 P.M. on Tuesdays MS. YINGJUN SU 4910 WWPH [email protected] 412-649-1792 Office hours: Tuesday 11AM to Noon; Wednesday 1 P.M. to 3 P.M. MR. RICKY SVOBODA 4521 WWPH [email protected] 412-648-7039 Office Hours: 9:00 A.M. to Noon on Wednesdays in Room 4524 WWPH RECITATIONS: 1. (11651) Th 4:00 CL 206 2. (11334) Th 5:00 CL 206 3. (11336) F 10:00 CL 252 4. (10961) F 11:00 CL 252 5. (10960) F 11:00 CL 206 6. (10876) F 12:00 CL 206 7. (10875) F 12:00 CL 213 8. (11335) F 1:00 CL 213 CL = CATHEDRAL OF LEARNING WWPH = POSVAR HALL





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ALUMNI HALL AUDITORIUM, 7TH FLOOR AUGUST 2014 – DECEMBER 2014

THE LISTED MID-TERM TEST DATES ARE TENTATIVE. THE ACTUAL DATES WILL BE ANNOUNCED IN CLASS AT LEAST ONE WEEK IN ADVANCE. DATE TUE TH SUBJECT AUG 26 28 INTRODUCTION, TOPICS STUDIED IN MACRO CH 1, 3, 5 NO RECITATION DURING FIRST WEEK ____________________________________________________________________ SEP 2 4 MACROECONOMIC POLICY GOALS, ECONOMIC FALLACIES,








____________________________________________________________________ SEP 30 2 NOTE CLASSROOM CHANGE FOR OCTOBER 2 ONLY ON OCTOBER 2, THE NOON CLASS WILL MEET IN 343 ALUMNI HALL. THE 1 PM CLASS WILL MEET IN THE 7TH FLOOR AUDITORIUM, AS USUAL. LEGAL ORGANIZATION OF BUSINESS FIRMS, TAXES, STOCK





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____________________________________________________________________ OCT 21 MID-TERM EXAM 1 (DATE IS TENTATIVE) ALL MATERIAL UP TO AND INCLUDING COMPONENETS OF GDP ____________________________________________________________________ OCT 23 THE CONSUMPTION FUNCTION CH. 9

RECITATION: SAME ____________________________________________________________________ OCT 28 30 AGGREGATE EXPENDITURE AND EQUILIBRIUM OUTPUT








RECITATION: SAME FINAL EXAM DATE: UNKNOWN EXAM CLASSROOM = UNKNOWN GRADES DUE: WEDNESDAY, DEC. 17


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Spring 2015


CRN: 11042


Class Times: M-W (12-12:50); Room 152 Chevron Center.

Office Hours: W-F (10-11:30); Room 4525; and by app.


TA 1: Angelo Qixin He [email protected]

TA 2: Siying Liu [email protected]

Final Exam: Thursday, April 23, 4:00-5:50 PM












equations).



Prentice Hall, 5/e; 2014; ISBN-10: 0133455491; with access to myeconlab.



Homework assignments will be accessed, completed, and submitted through






2

Web site, pearsonmylabandmastering.com. This interactive study guide also


chapter key terms.

E. Class Preparation and Study Time Requirements: The amount of readings in this course is less than that in other classes like literature or

sociology. But the readings are a lot denser. Read the assigned sections of the text before

coming to class. Be prepared to spend a couple of hours per day reading the assigned

materials or you will find yourself behind.













The final exam is scheduled for Thursday 4/23, 4:00 AM -5:50 PM







-will be due on specified dates during the term. These assignments are worth

20% of your grade. They must be completed by 11:59 PM on its corresponding

due date, and will not be available after the due date. If a student misses a graded

assignment, he/she will receive a zero. There are no make-ups for these

assignments. Step-by-step instructions on how to register with Myeconlab are

available on page 5 of this document and are posted on CourseWeb as well.





3

4- Problem sets will be distributed weekly and will be discussed during recitations

sessions the following week. These are not assessed but are a fundamental part of

the course. You are expected to attempt these assignments before attending your

recitation to evaluate your understanding of the material and use recitation time

for asking questions.

5- Make ups of exams are only acceptable in extreme circumstances, such as severe

illness/injury/death in immediate family/jury duty. A health certificate from a

doctor or other evidence is required.







92 – 100: A 90 – 91: A-

88 – 89: B+ 82 – 87: B

80 – 81: B- 78 – 79: C+

72 – 77: C 70 – 71: C-

68 – 69: D+ 62 – 67: D

60 – 61: D- 0 – 59: F




25 total points


25 total points


30 total points







asked.




4


follows:







J. Attendance:

Attendance is not required in lecture nor recitations. However, I highly recommend you

attend both. Lectures will make it easy to read the textbook and get good grades on the

exams. Lectures will also help develop the graphs in a way that makes them easier to

understand than just reading the text.





If you repeatedly interrupt the class with late arrival or early departure you will be

asked to withdraw from the course.



the use of mobile communications devices for email or communication) that

might disturb or otherwise distract others.

3- You are also expected not to interrupt other students if they are asking questions

or making comments to the instructor and class.




L. Getting Help: Advice: If you don't understand a particular point in the lecture, raise your hand and ask

on the spot or ask during office hours. For detailed questions about the text, problems,

and readings, talk to the TA in your recitation or in their office hours. You can also reach

the TAs or me by email (addresses listed above). Your email question or inquiry will be



Tutoring: The Academic Resource Center (ARC) offers peer tutoring services to all

students enrolled in Econ 0110, for the Spring 2015 semester. The center is open Monday

through Friday from 9am to 4pm. Tutoring sessions are generally one hour long. Please

make an appointment in advance by calling 412-648-7920. The first day for tutoring


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appointments is Tuesday, January 21st, and students can begin signing up for

appointments as of the first day of classes. The ARC is located in G1 Gardner Steel

Conference Center, right next to Thackeray Hall. Small group and individual tutoring is

also available on a walk-in basis every Sunday and Monday between 6-9pm in Room 111

of the O’Hara Student Center.

M. Academic Integrity: It is your responsibility to do your own work. Do not look around during exams and keep




Academic Integrity.

N. Students with Special Needs The Office of Disability Resources and Services (216 William Pitt Union, 412-624-7890)



O. To Complete Your Assignments:

1- Get Your PeopleSoft Number Your tests will be in multiple choice format and your answers will be recorded on

Scantrons sheets. In order for the computer to record your scores, you must fill in your

PeopleSoft Number on the Scantron. The following instructions show how to access

your PeopleSoft Number.








2- Register and Enroll in “MyEconLab” Course: Textbook: Hubbard/O'Brien: Macroeconomics, 5/E MyEconLab by R. Glenn Hubbard

and Anthony O'Brien

Your Course Name: Econ/110-Spring 2015

Your Course ID: el-hamidi52003

Student Registration Instructions

To register for Econ/110-Spring 2015:

1. Go to pearsonmylabandmastering.com.

2. Under Register, click Student.

3. Enter your instructor’s course ID: el-hamidi52003, and click Continue.


6

4. Sign in with an existing Pearson account or create an account:

a. If you have used a Pearson website (for example, MyITLab, Mastering,

MyMathLab, or MyPsychLab), enter your Pearson username and

password. Click Sign in.

b. If you do not have a Pearson account, click Create. Write down your new

Pearson username and password to help you remember them.

5. Select an option to access your instructor’s online course:

a. Use the access code that came with your textbook or that you purchased

separately from the bookstore.

b. Buy access using a credit card or PayPal.

c. If available, get 14 days of temporary access. (Look for a link near the

bottom of the page.)

6. Click Go To Your Course on the Confirmation page. Under MyLab & Mastering

New Design on the left, click Econ/110-Spring 2015 to start your work.

Retaking or continuing a course? If you are retaking this course or enrolling in another course with the same book, be sure

to use your existing Pearson username and password. You will not need to pay again.

To sign in later: 1. Go to pearsonmylabandmastering.com.

2. Click Sign in.

3. Enter your Pearson account username and password. Click Sign in.

4. Under MyLab & Mastering New Design on the left, click Econ/110-Spring 2015 to

start your work.

Additional Information See Students > Get Started on the website for detailed instructions on registering with

an access code, credit card, PayPal, or temporary access.


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2




2



1st Assignment Posted

3



3



1st Assignment Due @ 11:59PM,

Monday 2/2

4



4



and Income

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and Income

8


2nd Assignment Posted

9




2nd Assignment Due @ 11:59PM,

Wednesday 2/25

10



10



11

Sunday-Sunday 7-15

March



8



11


13



13

Monday, March 30 Money, Banks and the Federal

System

3rd & 4th Assignments Posted

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System

14


Wednesday, April 8 Monetary Policy 15



3rd & 4th Assignments Due @

11:59PM, Wednesday 4/15

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Thursday, April 23 Final Exam: 4:00-5:50 PM

Remember to fill in my Teaching Evaluation Survey on-line! It

is very important to have your feedback and to know your

recommendations for future classes. Thank you!

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ECON 0110 (10793): INTRODUCTORY MACROECONOMICS T H 12:00 TO 12:50 7TH FLOOR AUDITORIUM ALUMNI HALL







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No quizzes or tests in recitations. Your test and exam grades will be posted on Courseweb. After your grades have been posted, you have 10 days to request a correction. Otherwise, your grade will remain unchanged. TEACHING ASSISTANTS: MR. HAO FENG 4910 WWPH [email protected] 412-648-1792 Office hours: 2:00 – 4:00 PM on M and 2:00 – 3:00 on Th MR. YIMING LIU 4512 WWPH [email protected] 412-648-1795 Office hours: 1:30 – 4:30 PM on Monday MR ETHAN SCHMICK 4523 WWPH [email protected] 412-648-1766 Office hours: 8:30 – 9:30 PM on Tuesday and 10:00 to 12:00 on Thursday MR. RICKY SVOBODA 4521 WWPH [email protected] 412-648-7039 Office hours: 9:30 – 11:00 AM on T & Th RECITATIONS: 1. (11369) M 10:00 CL 204 SVOBODA 2. (10897) M 11:00 CL 204 SVOBODA 3. (10794) M 12:00 CL 204 SCHMICK 4. (17275) T 10:00 CL 204 SCHMICK 5. (10898) T 11:00 CL 204 SCHMICK 6. (11373) T 1:00 BENDM G28 FENG 7. (11374) W 10:00 WWPH 5400 SVOBODA 8. (10797) W 11:00 WWPH 5400 SVOBODA 9. (11370) W 12:00 WWPH 5400 LIU 10. (17276) TH 9:00 CL 204 SCHMICK 11. (10900) TH 10:00 CL 204 FENG 12. (11372) TH 11:00 CL 204 FENG 13. (10796) TH 1:00 WWPH 5405 LIU 14. (10899) TH 2:00 WWPH 5405 LIU 15. (11371) F 9:00 CL 306 FENG 16. (10795) F 10:00 CL 306 LIU CL = CATHEDRAL OF LEARNING WWPH = POSVAR HALL BENDM = BENEDUM HALL





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ECON 0110 (10793): INTRODUCTORY MACROECONOMICS T H 12:00 12:50 7TH FLOOR AUDITORIUM ALUMNI HALL













____________________________________________________________________ FEB 24 MID-TERM EXAM 1 (DATE IS TENTATIVE)

ALL MATERIAL UP TO AND INCLUDING LECTURE NOTES 10 ON THE TAX SYSTEM

YOU WILL NEED A CALCULATOR FEB 26 UNEMPLOYMENT & INFLATION CH. 6, 7, 16

RECITATION: SAME ____________________________________________________________________

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MAR 3 UNEMPLOYMENT & INFLATION CH. 6, 7, 16 ____________________________________________________________________ MAR 5 THE CONSUMPTION FUNCTION CH. 9

RECITATION: SAME ____________________________________________________________________ MAR 10 12 SPRING BREAK NO CLASSES




RECITATION: EXPENDITURE MULTIPLIERS ____________________________________________________________________ APR 31 2 THE FEDERAL BUDGET AND FISCAL POLICY CH. 11, 12, 16




RECITATION: SAME ____________________________________________________________________

FINAL EXAM

NOTE THAT THE EXAM IS AT A SPECIAL TIME THURSDAY, APRIL 23 4:00 TO 5:50 PM


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SECTION 1150 DAVID LAWRENCE 120 FALL 2015: TERM 2161



Office Hours: TU & TH: 8:00 AM to 9:15 AM TEXT: Macroeconomics, A Contemporary Introduction, William A. McEachern,


GRADING SYSTEM: Mid-term exam 1: Approximately 240 points Mid-term exam 2: Approximately 240 points Final exam: Approximately 520 points ______________________ Total 1,000 points GRADE SCALE: A+: 975 TO 1000 A: 925 TO 974 A-: 900 TO 924 B+: 875 TO 899 B: 825 TO 874 B-: 800 TO 824 C+: 775 TO 799 C: 725 TO 774 C-: 700 TO 724 D+: 675 TO 699 D: 625 TO 674 D-: 600 TO 624 EXTRA CREDIT: There is no extra credit available in this course. STRUCTURE OF THE COURSE Two hours of lecture and one hour of recitation per week. Mid-term Test 1: Multiple choice and true-false questions worth approximately 250 total points. You will need a calculator. Mid-term Test 2: Multiple choice and true-false questions worth approximately 250 total points. You will need a calculator.


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Final exam: Multiple choice and true-false questions worth approximately 500 total points. You will need a calculator. No quizzes or tests in recitations. Your test and exam grades will be posted on Courseweb. After your grades have been posted, you have 10 days to request a correction. Otherwise, your grade will remain unchanged. TEACHING ASSISTANTS: MS. MALLORY AVERY 4515 WWPH 412-648-1744 [email protected] Office hours: Tuesday, Wednesday & Thursday 1:00 to 2:00 PM MS. SIYING LIU 4522 WWPH 412-648-5717 [email protected] Office hours: Thursday 1 PM to 4 PM MR. JAKUP LONSKY 4521 WWPH 412-648-7039 [email protected] Office hours: Room 4514 WWPH: Monday 1 PM to 2:30 PM and Friday, 9:15 AM to 10:45 AM MS. SUYUN MAH 4515 WWPH 412-648-1744 [email protected] Office hours: Monday Noon to 3 PM in Room 4524 WWPH RECITATIONS: 1. (11586) TH 4:00 CL 352 LIU 2. (11287) TH 5:00 CL 352 LIU 3. (11289) F 10:00 CL 244B AVERY 4. (10930) F 11:00 WWPH 5404 LIU 5. (10931) F 11:00 CL 244B AVERY 6. (10846) F 12:00 CL 244B AVERY 7. (10847) F 12:00 WWPH 5404 LIU 8. (11288) F 1:00 CL 244B AVERY CL = CATHEDRAL OF LEARNING WWPH = POSVAR HALL





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DAVID LAWRENCE 120 AUGUST 2015 – DECEMBER 2015

THE LISTED MID-TERM TEST DATES ARE TENTATIVE. THE ACTUAL DATES WILL BE ANNOUNCED IN CLASS AT LEAST ONE WEEK IN ADVANCE. DATE TUE TH SUBJECT SEP 1 3 INTRODUCTION, TOPICS STUDIED IN MACRO CH 1, 3, 5 NO RECITATION DURING FIRST WEEK ____________________________________________________________________ SEP 8 10 MACROECONOMIC POLICY GOALS, ECONOMIC FALLACIES,













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RECITATION: SAME ____________________________________________________________________ NOV 3 5 AGGREGATE EXPENDITURE AND EQUILIBRIUM OUTPUT






CUMULATIVE INCLUDING EXPENDITURE MULTIPLIERS YOU WILL NEED A CALCULATOR NOV 26 THANKSGIVING BREAK STARTS NOV. 26 NO RECITATIONS ON WEDNESDAY ____________________________________________________________________ DEC 1 MONEY AND THE BANKING SYSTEM CH. 13, 14 DEC 3 THE FEDERAL RESERVE SYSTEM CH. 13, 14

RECITATION: SAME ____________________________________________________________________ DEC 8 10 THE FEDERAL RESERVE SYSTEM CH. 13, 14

RECITATION: SAME FINAL EXAM DATE: THURSDAY, DEC. 17, 8:00 AM – 9:50 AM REGULAR CLASSROOM GRADES DUE: TUESDAY, DEC. 22 The exam is cumulative with emphasis on material covered since Test 2.

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SECTION 1030 DAVID LAWRENCE 120 FALL 2015: TERM 2161



Office Hours: TU & TH: 8:00 AM to 9:15 AM TEXT: Macroeconomics, A Contemporary Introduction, William A. McEachern,


GRADING SYSTEM: Mid-term exam 1: Approximately 240 points Mid-term exam 2: Approximately 240 points Final exam: Approximately 520 points ______________________ Total 1,000 points GRADE SCALE: A+: 975 TO 1000 A: 925 TO 974 A-: 900 TO 924 B+: 875 TO 899 B: 825 TO 874 B-: 800 TO 824 C+: 775 TO 799 C: 725 TO 774 C-: 700 TO 724 D+: 675 TO 699 D: 625 TO 674 D-: 600 TO 624 EXTRA CREDIT: There is no extra credit available in this course. STRUCTURE OF THE COURSE Two hours of lecture and one hour of recitation per week. Mid-term Test 1: Multiple choice and true-false questions worth approximately 250 total points. You will need a calculator. Mid-term Test 2: Multiple choice and true-false questions worth approximately 250 total points. You will need a calculator.


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Final exam: Multiple choice and true-false questions worth approximately 500 total points. You will need a calculator. No quizzes or tests in recitations. Your test and exam grades will be posted on Courseweb. After your grades have been posted, you have 10 days to request a correction. Otherwise, your grade will remain unchanged. TEACHING ASSISTANTS: MS. MALLORY AVERY 4515 WWPH 412-648-1744 [email protected] Office hours: Tuesday, Wednesday & Thursday 1:00 to 2:00 PM MS. SIYING LIU 4522 WWPH 412-648-5717 [email protected] Office hours: Thursday 1 PM to 4 PM MR. JAKUP LONSKY 4521 WWPH 412-648-7039 [email protected] Office hours: MS. SUYUN MAH 4515 WWPH 412-648-1744 [email protected] Office hours: Monday Noon to 3 PM in Room 4524 WWPH RECITATIONS: 1. (11291) W 3:00 CL 349 LONSKY 2. (11292) W 3:00 CL 306 MAH 3. (10843) W 4:00 CL 349 LONSKY 4. (11293) W 4:00 CL 306 MAH 5. (10841) W 5:00 CL 349 LONSKY 6. (10842) W 5:00 CL 306 MAH 7. (11849) F 10:00 WWPH 5405 MAH 8. (10844) F 11:00 WWPH 5405 LONSKY CL = CATHEDRAL OF LEARNING WWPH = POSVAR HALL





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DAVID LAWRENCE 120 AUGUST 2015 – DECEMBER 2015

THE LISTED MID-TERM TEST DATES ARE TENTATIVE. THE ACTUAL DATES WILL BE ANNOUNCED IN CLASS AT LEAST ONE WEEK IN ADVANCE. DATE TUE TH SUBJECT SEP 1 3 INTRODUCTION, TOPICS STUDIED IN MACRO CH 1, 3, 5 NO RECITATION DURING FIRST WEEK ____________________________________________________________________ SEP 8 10 MACROECONOMIC POLICY GOALS, ECONOMIC FALLACIES,













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RECITATION: SAME ____________________________________________________________________ NOV 3 5 AGGREGATE EXPENDITURE AND EQUILIBRIUM OUTPUT






CUMULATIVE INCLUDING EXPENDITURE MULTIPLIERS YOU WILL NEED A CALCULATOR NOV 26 THANKSGIVING BREAK STARTS NOV. 26 NO RECITATIONS ON WEDNESDAY ____________________________________________________________________ DEC 1 MONEY AND THE BANKING SYSTEM CH. 13, 14 DEC 3 THE FEDERAL RESERVE SYSTEM CH. 13, 14

RECITATION: SAME ____________________________________________________________________ DEC 8 10 THE FEDERAL RESERVE SYSTEM CH. 13, 14

RECITATION: SAME FINAL EXAM DATE: THURSDAY, DEC. 17, 8:00 AM – 9:50 AM REGULAR CLASSROOM GRADES DUE: TUESDAY, DEC. 22 The exam is cumulative with emphasis on material covered since Test 2.

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ECON 0110 (10764): INTRODUCTORY MACROECONOMICS T H 12:00 TO 12:50 121 DAVID LAWRENCE HALL





GRADING SYSTEM: Mid-term exam 1: 250 points Mid-term exam 2: 250 points Final exam: 450 points Recitation attendance 50 points __________ Total 1,000 points GRADE SCALE: A+: 975 TO 1000 A: 925 TO 974 A-: 900 TO 924 B+: 875 TO 899 B: 825 TO 874 B-: 800 TO 824 C+: 775 TO 799 C: 725 TO 774 C-: 700 TO 724 D+: 675 TO 699 D: 625 TO 674 D-: 600 TO 624 EXTRA CREDIT: There is no extra credit available in this course. GRADING SYSTEM Mid-term Test 1: Multiple choice and true-false questions worth 250 total points. You will need a calculator and must use a pencil and know your Peoplesoft number. Mid-term Test 2: Multiple choice and true-false questions worth 250 total points. You will need a calculator and must use a pencil and know your Peoplesoft number. Final exam: Multiple choice and true-false questions worth 450 total points. You will need a calculator and must use a pencil and know your Peoplesoft number. RECITATION ATTENDANCE: 5 points per recitation up to a maximum of 50 points. There will be no quizzes or tests in recitations. Attendance will be taken at each recitation class. At the end of the semester, you will receive 5 points for each recitation class attended up to a maximum of 50 points. NO RECITATIONS UNTIL JANUARY 18, 2016.


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Your test and exam scores will be posted on Courseweb. After your grades have been posted, you have 10 days to request a correction. Otherwise, your grade will remain unchanged. TEACHING ASSISTANTS: Mr. Angelo Qixin He [email protected] 648-1796 4909 WWPH Mr. Jakub Lonsky [email protected] 648-7039 4521 WWPH Office Hours: Room 4514 WWPH Thursday 1 – 2:30 PM & Friday 11 – 12:30 Ms. Siying Liu [email protected] 648-5717 4522 WWPH Mr. Siqiang Yang [email protected] 648-2824 4519 WWPH Office Hours: Thursday 3 – 5 PM and Friday 11 AM - Noon RECITATIONS: 1. (11319) M 10:00 CL 349 LIU 2. (10866) M 11:00 CL 349 LIU 3. (10765) M 12:00 CL 252 HE 4. (16948) T 10:00 BENDM G27 HE 5. (10867) T 11:00 BENDM G27 LONSKY 6. (11323) T 1:00 DL 207 LONSKY 7. (11324) W 10:00 WWPH 5404 LIU 8. (10768) W 11:00 WWPH 5400 LIU 9. (11320) W 12:00 WWPH 5405 LONSKY 10. (16949) TH 9:00 WWPH 5405 HE 11. (10869) TH 10:00 WWPH 5405 HE 12. (11322) TH 11:00 WWPH 3415 LONSKY 13. (10767) TH 1:00 DL 209 YANG 14. (10868) TH 2:00 1501 WWPH YANG 15. (11321) F 9:00 CL 204 YANG 16. (10766) F 10:00 CL 204 YANG CL = CATHEDRAL OF LEARNING WWPH = POSVAR HALL BENDM = BENEDUM HALL DL = DAVID LAWRENCE HALL NO RECITATIONS UNTIL JANUARY 18, 2016.





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SYLLABUS AND LECTURE NOTES ARE ON COURSEWEB An outline of lecture notes for each lecture is available on Courseweb. To get access to the material, proceed as follows: 1. Log onto Courseweb at courseweb.pitt.edu 2. Click on the appropriate course. 3. Click on "Course Documents" 4. You should see all the course materials listed. 5. Click on any item and print out the material. If you wish, you can reformat the lecture notes to condense them to save paper. PEOPLESOFT NUMBER: Your tests will be multiple choice and your answers will be recorded on scantrons. In order for the computer to record your scores, you must fill in your PEOPLESOFT NUMBER on the scantron. The following instructions show how to access your PEOPLESOFT NUMBER. HOW TO ACCESS YOUR PEOPLESOFT NUMBER 1. Login to my.pitt.edu 2. Login with your user name and password 3. Click on the link “PittPAY Login” at the right of the screen 4. Your seven-digit Peoplesoft ID number will appear directly next to your name at the top left of the page (below the Pitt seal) in the gold band If you cannot find your number, let me know because I have access to the numbers for all students enrolled in the class.

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WHAT IS MACROECONOMICS? The course helps explain how the US economy works. Topics covered include factors which influence the level of output and our standard of living in the economy; determinants of the inflation rate & unemployment rate; the stock market, the bond market, the behavior of interest rates, the social security system, the US tax system, theories which explain the consumption and saving behavior of households, the behavior of business firms, how the Federal government influences the economy, the deficit and national debt, the money supply, the banking system, the Federal Reserve System, and how fiscal policy and monetary policy influence the economy. STUDY TIME REQUIREMENTS There is a lot of material to be covered in this course. Be prepared to spend a couple of hours per day reading the book or you will find yourself hopelessly behind at test or exam time. PREREQUISITES No Economics prerequisites. Good knowledge of college algebra. Calculus is not required. THE TEXTBOOK Some lectures present material not covered in the book. The syllabus shows what material will be covered in each lecture. CLASS PREPARATION Read the assigned sections of the text before coming to class. Many lectures cover topics not covered in your book. Take lots of notes. COURSEWEB: The syllabus, lecture notes, practice homeworks and practice tests are posted on Courseweb. ALL the lecture notes are posted under Course Documents. MISSING A TEST OR EXAM Dates for the mid-term exams are tentative and may be moved back slightly depending on how quickly we have covered the assigned material. The exact date for each test will be announced in class at least one week in advance. You need a valid reason to delay an exam, (serious illness, death in the family, etc.) Contact me in class, by e-mail, or by phone BEFORE the exam, so we can discuss a suitable arrangement for a make-up exam. If you need to miss a test or exam, you MUST eventually give me some documentation to justify your excuse.

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TESTS AND EXAMS ARE CLOSED BOOK: You will need a calculator. RECITATIONS 1. The syllabus shows what will be covered during each recitation. 2. TAs may cover new material not covered in class lectures. 3. TAs will answer questions about the practice homework problems, if asked. 4. No quizzes or tests will be given during recitations. 5. You will receive 5 points for each recitation attended up to a maximum of 50 points. GETTING HELP If you need some free tutoring help you should take advantage of the ARC’s peer tutoring services. ARC offers free tutoring to all students enrolled in Economics 0100 & 0110! The center is open Monday through Friday from 9am to 4pm. Tutoring sessions are generally one hour long, and we encourage students to make an appointment in advance by calling 412-648-7920. Students can begin signing up for appointments as of the first day of classes. The ARC is located in G1 Gardner Steel Conference Center, right next to Thackeray Hall. Alternatively, if you need help, first see me in the classroom just before or after class. Usually I can answer your questions in a minute or two. Alternatively, for help, contact me or your TA during our office hours, by telephone, by e-mail, or make an appointment. ADD-DROP A COURSE: Enrollment Forms and Drop Forms are available in the Registration Office, G-1 Thackeray Hall. COURSE WITHDRAWAL: To withdraw from a course after the official end of the add/drop period, you must process a “Monitored Withdrawal Request” form. It can be obtained through the dean’s office in Thackeray Hall (412-624-6480). Approval for you to withdraw from a course is at the discretion of the dean. There is no tuition reimbursement associated with a course withdrawal. W, G, AND I GRADES INSTRUCTORS CANNOT GIVE W GRADES; YOU MUST SEE THE DEAN. The University has cut-off dates for W grades. G grades are given only when students who have been attending a course and have been making regular progress are prevented by EXTENUATING CIRCUMSTANCES (usually illness) from completing the course after it is too late to withdraw. CAS requires that G grades be completed within the next term. I: I grades are for graduate thesis research.

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ECON 0110 (10764): INTRODUCTORY MACROECONOMICS T H 12:00 12:50 121 DAVID LAWRENCE HALL

JAN. 2016 – APRIL 2016 THE LISTED MID-TERM TEST DATES ARE TENTATIVE. THE ACTUAL DATES WILL BE ANNOUNCED IN CLASS AT LEAST ONE WEEK IN ADVANCE. DATE TUE TH SUBJECT JAN 7 INTRODUCTION, TOPICS STUDIED IN MACRO CH 1, 3, 5 NO RECITATION DURING FIRST WEEK ____________________________________________________________________ JAN 12 14 MACROECONOMIC POLICY GOALS CH 1, 3, 5

NO RECITATION THIS WEEK ____________________________________________________________________ JAN 19 21 ECONOMIC FALLACIES, TYPES OF ECONOMIC STATEMENTS PRODUCTION POSSIBILITY CURVE & OPPORTUNITY COST CH. 2

RECITATION: CALCULATING REAL GDP & INFLATION


INTERNATIONAL TRADE CH. 2, 17 RECITATION: COMPARATIVE ADVANTAGE

____________________________________________________________________ FEB 2 4 TRADE RESTRICTIONS & EXCHANGE RATES TYPES OF BUSINESS FIRMS, STOCKS & BONDS CH. 3, 12 & NOTES

RECITATION: STOCKS ____________________________________________________________________ FEB 9 11 STOCKS & BONDS; PRESENT VALUE CH. 3, 12 AND KENKEL NOTES

RECITATION: BONDS ____________________________________________________________________ FEB 16 18 U.S TAX SYSTEM; SOCIAL SECURITY RECITATION: PRESENT VALUE ____________________________________________________________________ FEB 23 COMPONENTS OF NOMINAL GDP, REAL GDP CH. 6

RECITATION: GDP & CALCULATING REAL GDP FEB 25 MID-TERM EXAM 1 (DATE IS TENTATIVE)

ALL MATERIAL UP TO AND INCLUDING LECTURE NOTES NUMBER 10 ON THE TAX SYSTEM & PRACTICE HOMEWORK SECTION 9

YOU WILL NEED A CALCULATOR & MUST USE A PENCIL

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____________________________________________________________________ MAR 1 3 UNEMPLOYMENT & INFLATION CH. 6, 7, 16

RECITATION: UNEMPLOYMENT TYPES & CALCULATIONS ____________________________________________________________________ MAR 8 10 SPRING BREAK NO CLASSES

____________________________________________________________________ MAR 15 17 UNEMPLOYMENT & INFLATION CH. 6, 7, 16

RECITATION: INFLATION ____________________________________________________________________ MAR 22 24 THE CONSUMPTION FUNCTION & EQUILIBRIUM CH. 9

RECITATION: CONSUMPTION FUNCTION & EQUILIBRIUM ____________________________________________________________________ MAR 29 31 THE MULTIPLIER CH. 9

RECITATION: EQUILIBRIUM & THE MULTIPLIER ____________________________________________________________________ APR 5 MID-TERM EXAM 2 (DATE IS TENTATIVE)

CUMULATIVE INCLUDING EXPENDITURE MULTIPLIERS YOU WILL NEED A CALCULATOR & MUST USE A PENCIL ____________________________________________________________________ APR 7 THE FEDERAL BUDGET AND FISCAL POLICY CH. 11, 12, 16

TIMING PROBLEMS WITH FISCAL POLICY, AUTOMATIC STABILIZERS, REFINANCING THE DEBT, SUPPLY SIDE ECONOMICS, THE LAFFER CURVE RECITATION: MONEY & BANKS

____________________________________________________________________ APR 12 14 MONEY & THE BANKING SYSTEM CH. 13, 14

RECITATION: MONEY & BANKS APR 19 21 THE FEDERAL RESERVE SYSTEM CH. 13, 14

RECITATION: TOOLS OF THE FED ____________________________________________________________________

FINAL EXAM

NOTE THAT THE EXAM IS AT A SPECIAL TIME THURSDAY, APRIL 28 8:00 TO 9:50 AM



1



Spring 2016


Instructor: Dr. Paul Noroski [email protected]

Class Times: M-W (2-2:50); Room 121 Lawrence Hall

Office Hours: M-W (12-1:50); Room 4918-A WWPH; and by app.


TA 1: Mallory Avery [email protected]

TA 2: Jailin Hou [email protected]












equations).



Prentice Hall, 5/e; 2014; ISBN-10: 0133455491; with access to myeconlab.



Homework assignments will be accessed, completed, and submitted through







2

Web site, pearsonmylabandmastering.com. This interactive study guide also


chapter key terms.

E. Class Preparation and Study Time Requirements: The amount of readings in this course is less than that in other classes like literature or

sociology. But the readings are a lot denser. Read the assigned sections of the text before

coming to class. Be prepared to spend a couple of hours per day reading the assigned

materials or you will find yourself behind.

F. Grading and Assessment: Your final grade is distributed as follows: one mid-term exams which counts for 30%, a

final exam which counts for 30%, and assignments completed on MyEconLab (40%):

1- Two exams will each constitute 30% of the final grade. These exams will take

place during lecture time on Monday 2/29/2016 and Wednesday 4/20/2016.




All exams are closed book. You will need a calculator (cell phone

calculators are NOT allowed)





2- Online assignments—completed on MyEconLab suite: www.myeconlab.com

-will be due on specified dates during the term. These assignments are worth

40% of your grade. They must be completed by 11:59 PM on its corresponding

due date, and will not be available after the due date. If a student misses a graded

assignment, he/she will receive a zero. There are no make-ups for these

assignments. Step-by-step instructions on how to register with Myeconlab are

posted on CourseWeb.


have to be completed and submitted individually.

3- Some problem sets may be distributed on courseweb throughout the semester and

will be discussed during recitations. These are not graded but are a fundamental

part of the course. You are expected to attempt these assignments before

attending your recitation to evaluate your understanding of the material and use

recitation time for asking questions.



3

4- Make ups of exams are only acceptable in extreme circumstances, such as severe

illness/injury/death in immediate family/jury duty. A health certificate from a

doctor or other evidence is required.




93 – 100: A 90 – 92: A-

87 – 89: B+ 83 – 86: B

80 – 82: B- 77 – 79: C+

73 – 76: C 70 – 72: C-

67 – 69: D+ 63 – 66: D

60 – 62: D- 0 – 59: F

G. Structure of the Course: Two weekly 50 minutes lectures (Mondays and Wednesdays) and one 50 minute

section of recitation per week.

Mid-term: multiple choice, graphs, and problem solving questions

Final exam: multiple choice, graphs, and problem solving questions







asked.



4

I. Syllabus and Lecture Notes: All class materials are available on Courseweb. To get access to the material, proceed

as follows:

1- Log onto Courseweb



4- Under "Course Documents" you should see all the course materials

listed.



J. Attendance:

Attendance is not required in lecture nor recitations. However, I highly recommend

you attend both. Lectures will make it easy to read the textbook and get good

grades on the exams. Lectures will also help develop the graphs in a way that

makes them easier to understand than just reading the text.

*Remember: If you miss a class meeting, you are expected to obtain notes and

other material on your own.


1- If you do plan to attend class, be on time and do not leave until class is

dismissed. If you repeatedly interrupt the class with late arrival or early

departure you will be asked to withdraw from the course.

2- Act in a mature manner conducive to enhancing a learning atmosphere. You

are expected to limit talking or other actions and devices (including eating in

class or the use of mobile communications devices for email or

communication) that might disturb or otherwise distract others.

3- You are also expected not to interrupt other students if they are asking

questions or making comments to the instructor and class.

4- You are expected to come to class fully prepared, having completed all

assigned readings and work assignments and willing to participate in

classroom discussion.


L. Getting Help: Advice: If you don't understand a particular point in the lecture, raise your hand and

ask on the spot or ask during office hours. For detailed questions about the text,

problems, and readings, talk to the TA in your recitation or in their office hours. You

can also reach the TAs or me by email (addresses listed above). Please identify

yourself as an Econ/110 student in the subject of the email to facilitate prompt

communication.

M. Academic Integrity: It is your responsibility to do your own work. Do not look around during exams and

keep your work covered. Honest conduct means that one neither take credit for the


5

work of others nor knowingly allow others to do so. Cheating on exams is forbidden,

and suspected violations will be dealt with in accordance with the University's

Guidelines on Academic Integrity. You may NOT use cell phones during exams.

N. Students with Special Needs The Office of Disability Resources and Services (216 William Pitt Union, 412-624-

7890) is available for students who have requested or wish to request accommodation

for a disability. If needed please contact the office as early as possible in the term.

Remember to fill in the OMETs (Teaching Evaluation Survey)

on-line! It is very important to have your feedback and to

know your recommendations for future classes. Thank you,

and good luck!

Fall 2015 Economics 0110H S. HustedIntroduction to Macroeconomic Theory

Instructor: Professor Steven Husted Office: 4508 W.W. Posvar Hall Office Hours: T,Th 2:30-4 or by appointmen t Telephone: 412-648-1757 E-Mail: [email protected]

This course seeks to provide an introduction to the study of the behavior of market-based economies such as the UnitedStates. Topics covered include (1) an introduction to the use of the fundamental tools of economic analysis: supply anddemand; (2) the concepts of inflation, unemployment, and national output and how these variables behave over time;1(3) saving and investment, including the roles of bond and equity markets in the national economy; (4) money andbanking; and (5) the use of models of the macro economy to understand what causes movements in the nationaleconomic output and the role of governments in controlling these movements.

Text: P. Krugman & R. Wells, Macroeconomics, New York: Worth Publishers, 4rd edition, 2015

Undergraduate TA: Ryan Peaslee ([email protected])

Recent U.S. Economic Data: St. Louis Federal Reserve Fred Data Base; Economic IndicatorsWeekly U.S. Economic Data Announcements: Bloomberg.com, Economic Calender


Grading: Daily quizzes2 10%Term paper3 20%Two in-class midterm exams 40% (20% each)Final exam 30% (Tue. Dec 15 4-5:50 p.m.)

Economics Blogs:Jared Bernstein at http://jaredbernsteinblog.com/Mark Thoma at http://economistsview.typepad.com/economistsview/Ben Bernanke at http://www.brookings.edu/blogs/ben-bernankeJames D. Hamilton & Menzie Chinn at http://www.econbrowser.com/David Altig at macroblog.typepad.com/macroblog/

The first two are slightly to the left, the third and fourth neutral, and the last is slightly to the right. These sites oftendiscuss real world issues, and the authors provide their own perspective on these issues. Checking periodically with oneor more of these sites may help you find a topic for your term paper. There are many more blogs by economists. Goto Resources for Economists (published by the American Economic Association) to find a list of links.


1 The latest edition has the most up to date discussion of current economic events. Earlier editions (espcially the 3rd) should work well

if you want to save money.

2 Grade based on the best 20 (out of 27) scores. Bonus grade awarded to students with 24 or more scores. No class on Tuesday

October 20.

3 Short essay (maximum of 8 pages of text) on a macroeconomic issue or problem facing the United States or any other chosen

country. Due Monday December 14, 2015. More complete instructions are posted on the CourseWeb site.










http://www.brookings.edu/blogs/ben-bernanke







Aug. 31 Introduction to Economics 1-3

Sep. 7 Macroeconomics & the Macroeconomy 6, 7 (or 21, 22)4

Sep. 14 Unemployment & Inflation 8 (or 23)

Sep. 21 Economic Growth 9 (or 24)

Sep. 28 Saving & Investment 10 (or 25)

Oct. 5 Midterm #1 week

Oct. 12 Income & Expenditure 11 (or 26)

Oct. 19 Aggregate Demand & Supply 12 (or 27)

Oct. 26 Money, Banking, and the Fed 14 (or 28)

Nov. 2 Monetary Policy 15 (or 30) & 18 (pp. 531-534)

Nov. 9 Midterm #2 week

Nov. 16 Fiscal Policy 13 (or 29)

Nov. 30 Inflation & Deflation 16 (or 31)

Dec. 7 Open Economy Macroeconomics 19 (or 34)

FINAL EXAM: Tuesday December 15 4-5:50 p.m.




Course Policies



Cell Phones:Please turn your phones off at the start of class and refrain TOTALLY from using them, INCLUDING TEXTING,during class.

4 The numbers in parentheses refer to chapters in the combined micro/macro text titled Economics by these authors.

https://my.pitt.edu/portal/server.pt/community/disability_resources_and_services/615

Spring 2015 Economics 0110H S. HustedIntroduction to Macroeconomic Theory

Instructor: Professor Steven Husted Office: 4508 W.W. Posvar Hall Office Hours: to be announ ced Telephone: 412-648-1757 E-Mail: [email protected]

This course seeks to provide an introduction to the study of the behavior of market-based economies such as the UnitedStates. Topics covered include (1) an introduction to the use of the fundamental tools of economic analysis: supply anddemand; (2) the concepts of inflation, unemployment, and national output and how these variables behave over time;(3) saving and investment, including the roles of bond and equity markets in the national economy; (4) money andbanking; and (5) the use of models of the macro economy to understand what causes movements in the nationaleconomic output and the role of governments in controlling these movements.

Text: P. Krugman & R. Wells, Macroeconomics, New York: Worth Publishers, 3 edition, 2013.rd

Undergraduate TA: Stephanie Liang ([email protected])Recent U.S. Economic Data: St. Louis Federal Reserve Fred Data Base; Economic IndicatorsWeekly U.S. Economic Data Announcements: Bloomberg.com, Economic Calender



Term paper 20%2

Two in-class midterm exams 40% (20% each)Final exam 30% (Sat. April 25 12-1:50 p.m.)

Economics Blogs:Jared Bernstein at http://jaredbernsteinblog.com/Mark Thoma at http://economistsview.typepad.com/economistsview/James D. Hamilton & Menzie Chinn at http://www.econbrowser.com/David Altig at macroblog.typepad.com/macroblog/

The first two are slightly to the left, the third one neutral, and the last is slightly to the right. These sites often discussreal world issues, and the authors provide their own perspective on these issues. Checking periodically with one or moreof these sites may help you find a topic for your term paper. There are many more blogs by economists. Go toResources for Economists (published by the American Economic Association) to find a list of links.



Short essay (maximum of 8 pages of text) on a macroeconomic issue or problem facing the United States or any other chosen2

country. Due Monday April 20, 2015. More complete instructions are posted on the CourseWeb site.
















Jan. 5 Introduction to Economics 1-3

Jan. 12 Macroeconomics & the Macroeconomy 6, 7 (or 21, 22)3

Jan. 19 Unemployment & Inflation 8 (or 23)

Jan. 26 Economic Growth 9 (or 24)

Feb. 2 Saving & Investment 10 (or 25)

Feb. 9 Midterm #1 week

Feb. 16 Money, Banking, and the Fed 14 (or 28)

Feb. 23 Income & Expenditure 11 (or 26)

Mar. 2 Aggregate Demand & Supply 12 (or 27)

Mar. 9 Spring Break

Mar. 16 Midterm #2 week

Mar. 23 Fiscal Policy 13 (or 29)

Mar. 30 Monetary Policy 15 (or 30) & 18 (pp. 531-534)

Apr. 6 Inflation & Deflation 16 (or 31)

Apr. 13 Open Economy Macroeconomics 19 (or 34)

FINAL EXAM: Saturday, April 25, 12 - 1:50




Course Policies



Cell Phones:Please turn your phones off at the start of class and refrain TOTALLY from using them, INCLUDING TEXTING,during class.

The numbers in parentheses refer to chapters in the combined micro/macro text titled Economics by these authors.3

Spring 2012 Economics 0110H S. Husted Introduction to … · 2016-05-18 · Course Outline and...

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