School of Business
Econ 2105 Principles of Macroeconomics
Instructor: Rovshan Guliev
Office phone: +99412 431 50 79 (106)
Phone: +994 50 636 08 19
Class hour: see schedule
Office hour: by appointment
Macroeconomics studies economy of a country as a whole. In this course we will consider
such important concepts as: measurement and determination of a nation’s output and income
and other national account indexes, problems of economic growth and stability - inflation and
unemployment, fiscal and monetary policies, public debt, international trade and exchange
rate formation, structure of balance of payment.
Textbooks and Materials
Required - 1) N. Gregory Mankiw. Principles of Economics. Third Edition
2) Campbell R. McConnell, Stanly L. Brue. “Economics: Principles,
Problems, and Policies” Fourteenth edition
Grades - Based on performance on quizzes, one midterm exam, and a
comprehensive final exam. Cheaters receive automatic Fs, and
other measures may be taken.
Leaving the room with an exam, attempting to steal examination
sheet, copying down exam question, attempting to obtain
assistance from other student during an exam, using unauthorized
reference material (notes, texts) during an exam or turning in
work done by others will be considered cheating. Students are
expected to be honest and submit for credit only the products of
their own efforts. In case of suspicion of cheating, instructor
reserves the right to assign ultimate points only after additional
oral questioning on quizzing or exam material.
Top scores on all exams receive maximum potential points; other
grades are adjusted accordingly.
Your grade in the course will be determined based on the
Mid-term Examination: 30%
Final Examination: 40%
Examinations - Lectures may not repeat reading assignments. All lectures and
assignments are fair game for scheduled quizzes and exams.
Quizzes and Exams consist of multiple choice, true/false, short
answer, and problem questions.
ATTENDANCE AND MAKE-UPS:
Attending classes is an important condition for satisfactory performance. Always feel free to
participate in discussions, ask questions, and make comments. But please DO NOT TALK to
your neighbor while someone else has the floor, whether that other person is your instructor
or a student.
Failure to keep up in this course can be fatal to your grade.
**** NO MAKE-UPS WILL BE GIVEN****
OUTLINE and SCHEDULE
Lecture No. TOPICS
The principles of Economics. Thinking like an Economist. The
subjects of economy.
The types of Factors of Production. Economic Efficiency.
The market systems.
3 Private and public sectors Quiz #1
International economic relationship
Domestic Output & National Income
Basic macroeconomic relationships
7 Economic growth and instability Quiz #5
8 Midterm Exam (2 hours)
Aggregate demand and Aggregate supply
10 Fiscal policy Quiz #8
Money and Banking
12 Monetary Policy
Deficits, Surpluses and Public Debt
14 Gains from international trade
15 Exchange Rates, the BOP Trade Deficit Quiz #10
Final Exam (3 Hours)
NOTE: The course syllabus provides a general plan for the course, deviations
may be necessary.