WESTERN MICHIGAN UNIVERSITY, DEPARTMENT OF ECONOMICS ECONOMICS 2020: PRINCIPLES OF MACROECONOMICS SPRING 2012 Mondays, Wednesdays & Fridays: 10:00 am - 10:50 am Dunbar Hall 03208 INSTRUCTOR: OFFICE:OFFICE PHONE:

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WESTERN MICHIGAN UNIVERSITY, DEPARTMENT OF ECONOMICS

ECONOMICS 2020: PRINCIPLES OF MACROECONOMICS

SPRING 2012

Mondays, Wednesdays & Fridays: 10:00 am
-

10:50 am

Dunbar Hall 03208

INSTRUCTOR:

Stephen Abrokwah

OFFICE:


5409 Friedmann Hall

OFFICE

PHONE:

387
-
5559

EMAIL
:
stephen.o.abrokwah@wmich.edu

OFFICE HOURS:

Mondays and Wednesdays 11:00am


1:00pm and by appointment



REQUIRED PURCHASES

1. Textbook
:


Principles of Macroec
onomics,

4
th

& Brief Edition, by Robert Frank and Ben Bernanke.
(NOTE: there is an e
-
book option available with Connect for reduced pricing)


2. Online Access:


McGraw Hill’s Connect
,
www.mcgrawhillconnect.com
. The instructions for the purchase and
registr
ation of Connect are on a separate attachment that comes with the

syllabus.
1



COURSE OBJECTIVES

This course will provide an introduction to the principles of macroeconomics.
Macroeconomics
is the study of the performance of national economies and the policies that governments use to
try to improve that performance.

The topics we will cover include: national output, economic
growth, productivity, unemployment, wages, inflation
, interest rates, fiscal policy, and monetary
policy.



COURSE OVERVIEW

Your grade will be based on homework, quizzes, and examinations. There will be two mid
-
term
examinations and a comprehensive final examination. Each of the mid
-
term exams will accoun
t
for 20% of the final course grade. The final exams will account for 30% of the final course
grade. The top five quiz scores combined will be worth 20% of your grade. Homework
assignments will be worth 10% of your grade. The dates of the regular exams wi
ll be announced
at least one class in advance. The final exam is comprehensive and will be held on
Thursday
April 26
th
, 8:00am


10:00am



Course Component Percentage Weight

Homework

10%

Quizzes (Combined) 20%

Exams I & II 20% (each)

Final

30%





1

The Connect instructions refer to 4
th


edition of Frank and Bernanke. We will use the brief edition of Frank and
Bernanke. The brief edition and the 4
th

edition are the same text with two exceptions. First, the brief edition does not
contain two chapters that appear toward the end of the 4
t
h

edition. Second, the brief edition is cheaper.



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QUIZZES
AND HOMEWORK ASSIGNMENTS

There will be a minimum of seven quizzes. The quizzes are designed to help you understand the
concepts covered in class. They also prepare you for the midterms and final exam. There are no
make
-
ups for quizzes and a grade of zero i
s given for each missed quiz. The highest five scores
will count toward your final course grade (i.e., 20% of your grade); the remaining scores will be
dropped. Everything presented in class and in the assigned reading is considered "fair game" on
quizzes.


Homework assignments will be worth 10% of your grade. Your three lowest homework scores
would be dropped and hence would not count towards your
total home work score
. Homework
assignments will be completed on Connect and are due at midnight on the assign
ed date.
Homework will not be accepted after the due date. There will be no make
-
ups allowed on
homework assignments.




EXAMINATIONS

With the exception of the final examination which is already determined, the date of each mid
-
term will be announced at
least one class period in advance. The date of each examination will
also be posted on the course website (Connect). Everything presented in class, in the assigned
reading, and on Connect is considered "fair game" on examinations. Bring a number two (2)
pencil and eraser to each examination. Picture IDs must be presented at all examinations. Hats,
other head coverings, and headphones are prohibited during examination periods.



MAKE
-
UP EXAMINATION POLICY

With the exception of the final examination, there

will be no makeup examinations. In the event
that you miss an examination, your absence will be excused only if you can provide a
documented and verifiable excuse of illness or other hardship. (A vacation, or family trip, is not
considered a hardship.)

The excuse for the absence will be accepted at the discretion of the
instructor. If an absence from a midterm examination is excused, the weight of the missed
examination will be added to the weight of the final examination. An unapproved absence from
an

examination will result i
n a zero for that examination.
No examination grades will be
dropped.


TENTATIVE GRADING SCALE (in %):


≥ 90 = A; 85


89 = BA; 80


84 = B; 75


79 = CB; 70


74 = C;

65


69 = DC; 60


64 = D; ≤ 59 = E



EXTRA CREDIT

Extra credi
t opportunities may or may not be available throughout the semester. Extra credit will

not be assigned on an individual basis, I reserve the right to offer

extra credit to the class as a
whole.

This decision will be largely based on overall class performance. Also,
no

extra credit will
be

assigned after final grades are posted.






3


COURSE EXPECTATIONS

There is no attendance policy for the course per se. However, consistent attendance is strongly

recommended for good performance in this course. Failure to attend class regularly affects your
performance. Attendance and participation are integral parts of the learning process, and success
in this course cannot be achieved by simply reading the text.

I will also present material in class
that will not be found elsewhere.


During each class students are expected to avoid carrying on private conversations, reading
newspapers or working on assignments from other courses. In addition, you are also expected to
turn off cell phones, iPods, etc. prior to entering class. You may be

asked to leave the classroom
if these policies are violated.


Much of this course is cumulative, with each period's lesson depending on comprehension of
what came before. Falling behind will make this a much more difficult course. There are several
way
s to keep up:


1.

Make sure you read each assignment prior to coming to class.

2.

Spend five or ten minutes directly prior to the start of each class looking over the
material from the previous class.

3.

The course website (Connect) contains PowerPoint slides for e
ach lecture. Be sure to
print the relevant slides prior to coming to class.


If you find yourself falling behind, please see me. My posted office hours list the times that you
are guaranteed to find me in my office. However, if you have a conflict, you m
ay arrange a
meeting time outside office hours.



SPECIAL NEEDS

If you are a student who needs special assistance in the administration of examinations, please
notify me in writing by
January 23
, 201
2
.



ACADEMIC INTEGRITY

You are responsible for making yourself aware of and understanding the policies and procedures
in the Undergraduate Catalog that pertain to Academic Honesty. These policies include cheating,
fabrication, falsification and forgery, multiple submission, plag
iarism, complicity and computer
misuse. [The policies can be found at
http://catalog.wmich.edu

under Academic Policies,
Student Rights and Responsibilities.] If there is reason to believe you have been i
nvolved in
academic dishonesty, you will be referred to the Office of Student Conduct. You will be given
the opportunity to review the charge(s). If you believe you are not responsible, you will have the
opportunity for a hearing. You should consult with y
our instructor if you are uncertain about an
issue of academic honesty prior to the submission of an assignment or test.



PRELIMINARY COURSE OUTLINE


Part One
:

Introduction

Chapter 1: Thinking like An Economist and Working with Equations, Graphs
and Tabl
es



Chapter 3: Supply and Demand


4







Part Two
:

Macroeconomics: Data and Issues


Chapter 4: Spending, Income, and GDP


Chapter 5: Inflation and the Price Level


Chapter 6: Wages and Unemployment


Part Three
:
The Economy in the Long

Run


Chapter 7: Economic Growth



Chapter 8: Saving, Capital Formation, and Financial Markets


Chapter 9: The Financial System, Money, and Prices


Part Four: The Economy in the Short Run




Chapter 10: Short
-
Term
Economic Fluctuations

Chapter 11: Spending and Output in the Short Run

Chap
ter 12: Stabilizing the Economy
: The Role of the Federal Reserve

Chapter 13: Aggregate Demand, Aggregate Supply, and Macroeconomic


Policy



Part Five
:
The Int
ernational Economy (Conditional on time availability)



Chapter 14: Exchange Rates, International Trade, and Capital Flows




NOTE
: The above chapter numbers refer to
Principles of Macroeconomics
, brief edition, by
Frank and Bernanke.