Course Overview

Introduction to Macroeconomics

This course provides a comprehensive introduction to macroeconomic principles, focusing on the analysis of the economy as a whole. Key topics include Gross Domestic Product (GDP), unemployment, inflation, aggregate supply and demand, and the roles of fiscal and monetary policy. The course is designed to equip students with the foundational knowledge necessary for understanding macroeconomic forces and for further study in economics.

Course Structure and Content

Main Topics Covered

• Economics: Foundations and Models (Ch. 1)

• Trade-offs, Comparative Advantage, and the Market System (Ch. 2)

• Where Prices Come From: The Interaction of Demand and Supply (Ch. 3)

• Gross Domestic Product (GDP) (Ch. 8)

• Unemployment and Inflation (Ch. 9)

• Economic Growth, The Financial System, and Business Cycles (Ch. 10)

• Aggregate Demand and Aggregate Supply Analysis (Ch. 13)

• Banks, Money, and the Federal Reserve System (Ch. 14)

• Monetary Policy (Ch. 15)

• Fiscal Policy (Ch. 16)

Each topic is aligned with a chapter from the required textbook: Hubbard and O’Brien, Macroeconomics, 9th edition.

Learning Objectives

• Define and list basic microeconomic and macroeconomic principles, concepts, and theories, including opportunity cost, scarcity, and the production possibility curve.

• Explain the concepts of supply and demand and how markets function.

• Describe and calculate Gross Domestic Product (GDP), unemployment, and inflation.

• Analyze economic growth and the role of the financial system and business cycles.

• Understand and apply the models of aggregate supply and demand.

• Discuss the structure and function of money and banking, and the implementation of monetary and fiscal policy.

• Apply economic theory to real-world problems and policy debates.

Course Requirements and Grading

Assessment Components

• Attendance: 100 points (attendance tracked via Point Solutions app; must attend 34 of 40 lectures for full credit)

• Homework Assignments: 10 assignments, 150 points total (one per chapter, 3 attempts per question, late work accepted for partial credit until the relevant exam)

• Midterm Exams: 3 exams, 200 points each (lowest score dropped)

• Final Exam: Comprehensive, 350 points

• Extra Credit: Up to 30 points available at instructor's discretion

Grading Breakdown

Policies

• Attendance: Calculated as a percentage of required lectures attended. Example: Attending 30 of 34 required lectures = 88.2% attendance grade.

• Homework: Average score applied to 150 possible points. Late work accepted for 75% credit until the exam covering that chapter.

• Exams: Closed book/notes, no formula sheets. Basic calculator allowed. Cheating results in a zero and no dropped midterm.

• Make-up Exams: Only for excused absences (illness, family emergency, university activities, religious observance, jury/military duty). First missed midterm is dropped; subsequent excused absences may be made up on a designated date.

• Academic Integrity: Strict adherence required. Violations result in severe penalties.

• Technology: Pen and pencil required; tablets with digital pens allowed for note-taking (no keyboards).

• Disability Accommodations: Arrangements available through the Center for Educational Access.

Weekly Schedule

Additional Course Policies

• Classroom Etiquette: Professional conduct and active participation are expected. Academic honesty is strictly enforced.

• Generative AI Policy: Use of AI tools is only permitted with explicit instructor permission; unauthorized use is considered academic dishonesty.

• Inclement Weather: If the university is closed, class will not meet; virtual materials will be provided as needed.

• Unauthorized Distribution of Notes: Sharing course materials without permission is a violation of university policy and intellectual property rights.

• Final Exam Conflicts: Students with more than two finals in one day may request alternative exam dates following university procedures.

Tips for Success

• Read assigned textbook chapters before lectures.

• Dedicate 2-3 hours of study per lecture hour.

• Form study groups and utilize office hours for additional support.

• Stay informed about assignments and schedule changes via Blackboard and class announcements.

Additional info: This syllabus provides the framework for a standard Principles of Macroeconomics course, covering all major topics required for foundational understanding and further study in economics. The course emphasizes both theoretical knowledge and practical application to real-world economic issues.