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University of Waterloo Department of Economics Fall 2012 Class Number, Subject, Course Number, Sections, Campus, Title: 2828, Econ 102 – 001, UW, Introduction to Macroeconomics 3690, Econ 102 – 003, UW, Introduction to Macroeconomics Lecture Time, Building, Room Number Econ 102 – 001: M, W, F 10:30 – 11:20 A.M. DC 1351 Econ 102 – 003: M, W, F 1:30 – 2:20 P.M. DC 1351 Instructor, Office Location, Office Hours, Contact Information Thomas L. Tucker Office: HH 104 Office Hours: M: 12:15 – 1:00 P.M.; W: 9:15 to 10:00 A.M. & 12:15 to 1:00 P.M.: F: 9:15 – 10:00 A.M. (Other times by appointment) Phone: 519-888-4567, ext. 38771 E-mail Address: email@example.com When you send email, include Econ 102 in the subject line and the message must include your full name and student ID number. Course Description: This course provides an introduction to macroeconomic analysis relevant for understanding the Canadian economy as a whole. The determinants of national output, the unemployment rate, the price level (inflation), interest rates, the money supply and the balance of payments, and the role of government fiscal and monetary policy are the main topics covered. Course Objectives: Describe the basic macroeconomic variables. Understand how the economy works in both the short term and long term. Understand how governments and the Central Bank influence economic variables and outcomes. Distinguish the long run from the short run. Understand the why of current macroeconomic events. Required Textbook: Mankiw, N, Gregory, et al, “Principles of Macroeconomics, 5th Canadian Edition”. Toronto: Nelson, 2011 Optional Material: Study Guide: Mankiw, H. Gregory, et al, “Principles of Macroeconomics, Study Guide 5th Canadian Edition”. Toronto: Nelson, 2012. Resources: The course outline will be available on the Department of Economics website: http://economics.uwaterloo.ca/ug-courseschedule.htm , and on LEARN website http://learn.uwaterloo.ca Also important announcement and other course material will be posted on LEARN. So check LEARN on a regular basis. Course Evaluation: Midterm 1 Ch 1, 2, 5 & 6 Fri. Oct. 5th, 4:30 - 6:00 P.M. 25% Midterm 2 Ch 7, 8, 9 & 10 Fri. Nov.2nd, 4:30 - 6:00 P.M. 25% Final Exam Comprehensive TBA (between Dec 6th – 20th) 50% The exams will include multiple-choice and could include short answer questions. The date and time for the final exam will be set by the Registrar during the exam period and announced in class and on LEARN. ALL students are EXPECTED to be available during the exam period to write the final exam. Travel plans and “cheap air line flights” are not acceptable reasons for requesting an alternative final exam. See the following webpage for details: http://www.registrar.uwaterloo.ca/exams/finalexams.html Note: To pass this course you MUST pass the final exam. Additional Information: 1. Missing a Midterm Due to Illness During the Term: Missing a midterm will automatically result in a grade of zero for that midterm. If a student misses a midterm due to illness and has valid documentation with a UW Verification of Illness Form, with approval the weight of the missed midterm will be shifted to the final exam. This is a privilege and not a right. Midterms will not be rescheduled. 2. Missing the Final Exam Due to Illness: Missing the final exam is a very serious matter, which automatically results in a grade of zero for the final exam and a failed grade in the course. For policies regarding missed final exams, visit the Economics Department webpage: http://www.economics.uwaterloo.ca/DeferredExams.html No deferred final exam will be provided for students who missed all the exams (including the final exam) in this course. Students are advised to notify me about missed exams as soon as possible. If notification is not made within one week, the student will receive a zero on that exam. 3. Submission of Exam Papers: Late submission of exam papers is not accepted and missed submissions will receive a grade of zero. Exam papers must be submitted in whole and on time in the exam room. Exam papers (a) not submitted on time, (b) submitted with missing pages, (c) submitted elsewhere, except where students write at the OPD, or (d) not received at all will receive a grade of zero. 4. Fee-Arranged Issues: Students are responsible for administrative matters concerning their course registration including fees. No make-up work or other remedies will be given for loss of access to LEARN and academic consequences arising from administrative issues with the Registrar’s Office. Course Outline Part 1 Introduction Chapter 1 Ten Principles of Economics Chapter 2 Thinking Like an Economist (Exclude Appendix) Part 3 The Data of Macroeconomics Chapter 5 Measuring a Nation’s Income Chapter 6 Measuring the Cost of Living Part 4 The Real Economy In the Long Run Chapter 7 Production and Growth Chapter 8 Saving, Investment, and the Financial System Chapter 9 Unemployment and Its Natural Rate Part 5 Money and Prices In the Long Run Chapter 10 The Monetary System Chapter 11 Money Growth and Inflation Part 6 The Macroeconomics of Open Economies Chapter 12 Open-Economy Macroeconomics: Basic Concepts (Pages 269- 285 only.) Part 7 Short-Run Economic Fluctuations Chapter 14 Aggregate Demand and Aggregate Supply Chapter 15 The Influence of Monetary and Fiscal Policy on Aggregate Demand Topics to be Covered & Class Schedule: Week 1 Sept. 10, 12 & 14 Ch 1: Ten Principles of Economics Ch 2: Thinking Like an Economics Week 2 Sept. 17, 19 & 21 Ch 5: The Real Economy Ch 6: Cost of Living Week 3 Sept. 24, 26 & 28 Ch 7: Production and Growth Ch 7: Cont. Week 4 Oct. 1, 3 & 5 Ch 8: Saving, Investment & the Financial System Ch 9: Unemployment & Its Natural Rate Review Oct. 5th Midterm 1 (4:30 - 6:00) Week 5 Oct. 10 & 12 Ch 9: (Cont.) Week 6 Oct. 15, 17 & 19 Ch 10: The Monetary System Week 7 Oct. 22, 24 & 26 Ch 11: Money Growth & Inflation Week 8 Oct. 29, 31 & Nov 2 Ch 11: Cont. Ch 12: Open Economy Nov 2nd Midterm 2 (4:30 – 6:00) Week 9 Nov. 5, 7 & 9 Ch 14: AS-AD Week 10 Nov. 12, 14 & 16 Ch 14: Cont. Week 11 Nov. 19, 21 & 23 Ch 15: Monetary and Fiscal Policy Week 12 Nov. 26, 28 & 30 Ch 15: Cont. Week 13 Dec 3 Review University Statements Academic Integrity, Grievance, Discipline, Appeals, and Note for Students with Disabilities: Academic Integrity: in order to maintain a culture of academic integrity, members of the University of Waterloo community are expected to promote honesty, trust, fairness, respect and responsibility. Grievance: A student who believes that a decision affecting some aspect of his/her university life has been unfair or unreasonable may have grounds for initiating a grievance. Read Policy 70 - Student Petitions and Grievances, Section 4, http://www.adm.uwaterloo.ca/infosec/Policies/policy70.htm Discipline: A student is expected to know what constitutes academic integrity, to avoid committing academic offenses, and to take responsibility for his/her actions. A student who is unsure whether an action constitutes an offense, or who needs help in learning how to avoid offenses (e.g., plagiarism, cheating) or about “rules” for group work/collaboration should seek guidance from the course professor, academic advisor, or the Undergraduate Associate Dean. When misconduct has been found to have occurred, including writing exams in a section that you are not registered in, disciplinary penalties will be imposed under Policy 71 – Student Discipline. For information on categories of offenses and types of penalties, students should refer to Policy 71 - Student Discipline, http://www.adm.uwaterloo.ca/infosec/Policies/policy71.htm Appeals: A student may appeal the finding and/or penalty in a decision made under Policy 70 - Student Petitions and Grievances (other than regarding a petition) or Policy 71 - Student Discipline if a ground for an appeal can be established. Read Policy 72 - Student Appeals, http://www.adm.uwaterloo.ca/infosec/Policies/policy72.htm Note for students with disabilities: The Office for Persons with Disabilities (OPD), located in NH1132, collaborates with all academic departments to arrange appropriate accommodations for students with disabilities without compromising the academic integrity of the curriculum. If you require academic accommodations to lessen the impact of your disability, please register with the OPD at the beginning of each academic term.
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