Eco
2307
Principles
of Macroeconomics
Dr. Tom Kelly, Professor of
Economics
Office: HCB A301.2
E-mail: Tom_Kelly@baylor.edu
Phone: 710-4146
Required
Textbooks:
Macroeconomics:
A Contemporary Introduction, 6th edition by William A. McEachern
Macroeconomics:
A Contemporary Introduction, Study Guide, 6th edition
Web Site: http://mceachern.swcollege.com
The on-line version of the Wall
Street Journal is now active and available to all students who are enrolled in
business classes. To access the journal, go to https://business.baylor.edu/wsj/ and login using your bearid.
Paper copies of the journal are also available in four kiosks located around
the business school. Please help spread the word that this resource is
available.
Purpose of the course:
The purpose of this
course is to introduce concepts concerning the overall performance of the U.S.
economy in a global context. We will rely upon the textbook for fundamentals,
but we will apply them to current macroeconomic issues. You will have three one-hour exams and a
comprehensive final exam at the end of the semester.
1. Read the chapter and review
my chapter notes before coming to class.
2. Take the interactive quiz on
the web site for the chapter.
3. Review the “questions for
review” at the end of the chapters for class discussion.
4. Work self-test sections in
the study guide before each examination.
5. Attend class and participate
in active learning, i.e. ask questions when uncertain about material and answer
questions proposed in class.
Course
Outline: (Plan
on reading and preparing one chapter per class meeting)
Topic
Chapter Notes
I.
Introduction 1-3
II. The
economic decision makers 4
III. Introduction to macroeconomics 5
IV. Measuring economic aggregates 7
V. Unemployment
and inflation 8
Exam I on
chapters 4, 5, 7, & 8
VI. Aggregate expenditure by components 9
VII. Aggregate expenditure and aggregate demand 10
VIII. Aggregate supply 11
Exam II on
chapters 9 - 11
X.
Fiscal policy 12
XI. Money and the financial system 13
XII. Banking and the money supply 14
XIII. Monetary theory and policy 15
Exam III on
chapters 12 – 15
XIV. The policy debate: active or passive 16
XV. Federal
budgets and public policy 17
XVI. International finance 18
Final Exam: Comprehensive and on chapters 16 & 18
Grades: No extra credit will be
assigned. Final grade based on
percentage of the following totals:
Exam
1 100 points
Exam
2 100 points
Exam
3 100 points
` Final
Exam 150 points
Total
450 points
Exams: Exams 1, 2, 3 will consist
of multiple-choice questions. Each will be a one-hour exam. You will take tests
during the normal lecture period on the day of the exam. There will be a one
and one-half hour, comprehensive, multiple-choice final. More information on
the content of the final will be announced in class.
Missed
Exams/Quizzes:
There will be NO make-up exams. If you must miss an exam for a
University-sponsored activity, you may take the exam early. If you miss a test
for an excused reason, your grade will be based on the average of your other
exam grades. If you miss a test for an unexcused reason, you will receive a
grade of zero.
Missed exams/quizzes will be considered excused for
the following reasons: 1. Official university-sponsored activities (with confirmation from
the Vice President of Student Affairs), 2. Documented illness (with a note from
the Baylor Health Center), 3. Reasons considered valid by the University
Chaplain's Office (with confirmation from the Chaplain's Office), 4.
Unavoidable emergency. To have an exam excused you must inform me in writing
BEFORE you miss the exam. If the absence is unanticipated, you must inform me
in writing in reasonable time.
Attendance: Any student who misses
more than 25% of our class days will fail the course. This is Baylor's policy.
If you are not present when I take attendance, you will be counted absent.
Honor Code: I expect you to follow the
Baylor Honor Code at all times. I take cheating seriously. Any student caught
in violation of the honor code will receive an F in the course and be referred
to the Baylor Honor Council.