Syllabus

 

Recommended textbook: Principles of Macroeconomics 2nd edition OpenStax
This book is FREE in PDF and web based versions and can be obtained from

Link to e-text:    https://d3bxy9euw4e147.cloudfront.net/oscms-prodcms/media/documents/Macroeconomics2e-OP.pdf

If you wish to obtain a hard copy, these are available for $33 and can be ordered from the site: www.openstaxcollege.org

Open Lab:

https://openlab.citytech.cuny.edu/econ/

BlackBoard

BlackBoard will be used to post the course syllabus, PowerPoint presentations if reviewed in class, supplemental readings, articles and/or class assignments. It will also be used to post announcements and occasionally for email.

If you have not accessed Blackboard yet or do not yet have an account, you should go to the computer center on the 6th Floor (G/600) to get set up with a user name and password. You should also remember to use your assigned CityTech/CUNY email address to access email announcements sent to the class.

a).  Articles from the New York Times, Wall Street Journal, Financial Times, The Economist and other sources, including government statistical web sites that will be used in conjunction with class discussions and some assignments during the semester. Some assignments may require you to obtain information from particular websites in completing assignments. These websites will be posted.

b). PowerPoint presentations on some chapter material and related topics that will also be used to supplement the material and topics covered in class.

c). Announcements: Announcements relevant to the course or last minute changes will be posted. The announcement link should be checked regularly.

Course Requirements:

  1. Midterm: The midterm will cover the first several chapters of the textbook and readings: The format will be multiple choice and problem sets: 35% of the course grade.
  2. Final exam: The final exam will include material covered after the midterm. The format will be multiple choice and problem sets: 35% of the course grade.
  3. Class participation in in-class assignments, homework, and discussions: 10% of the course grade.
  4. Two quizzes (30 multiple choice questions): 20% of the course grade

Resources:

Newspapers, periodicals, and journals: The websites for several newspapers and government economic/statistical agencies and other sources that will also be used in class assignments serve as valuable resources in preparing for in-class small group discussions and debates on economic issues related to course topics during the semester. These websites will also be posted on Blackboard. You may be assigned to go to a particular website to obtain information and there will be questions assigned to be completed. Some of these sources are also listed below:

 

Course Objectives:

To develop an understanding of the fundamental concepts of macroeconomics through the analysis of firm and consumer behavior in a market economy: Specific course objectives include the following:
1.       Demonstrate an understanding the basic economic decisions that underlie the economic process: What and how to produce goods and services and how they are distributed.
2.       Understand the concepts of scarcity, choice and opportunity cost and apply these concepts to the analysis of the workings of a market economy.
3.       Demonstrate a firm knowledge of the interrelationships among consumers, government, business and the rest of the world in the U.S. macroeconomy.
4.       Identify the process of how the nation’s output of goods and services is measured through the national income and product accounts; clearly comprehend the income and expenditure approaches to measuring national output and national income.
5.       Acquire the ability to clearly illustrate the specific roles and functions of monetary and fiscal policy in the economy and explain how these are applied to the process of shaping economic policy and stabilizing the economy, specifically with regard to controlling inflation, promoting full employment and facilitating economic growth.
6.       Explain the process of how fiscal policy is enacted and how its functions – taxation and spending – are designed to achieve the goals of equilibrium between Aggregate Demand and Supply; develop a firm understanding of the differences between, and the specific roles of, discretionary fiscal policy and automatic stabilizers in stabilizing employment, income, growth, and prices during periods of recession and economic expansion.
7.       Identify and analyze the role of the Federal Reserve System in setting monetary policy, and comprehend the objectives of the instruments used by the Federal Reserve to regulate the nation’s money supply (setting short term interest rates, conducting Open Market Operations and establishing bank reserves); develop the ability to distinguish the functions of these tools in controlling inflation, regulating the circulation of money in the economy, and promoting  economic and income growth.
8.       Develop an understanding of the impact of globalization on the U.S. economy particularly since the early 1970’s; examine the relationship between the changing structure of the U.S. macroeconomy and changes in U.S. and international trade policy; the impact on trade agreements of the decline of the U.S. manufacturing based economy to a service based economy.

Measurement of Course Objectives:

  1. Regular in-class discussion and exercises on assigned text and supplemental readings;

Review of material in short exercises at end of chapters, homework assignments.

  1. Group assignments (to be assigned) on a selection of topics covered in class.
  2. Midterm exam (Format: Multiple choice and problem sets/short answer questions).
  3. Final exam (Format: Multiple choice and problem sets/short answer questions).
  4. Quiz (Format: Multiple choices questions).