Syllabus and Course Structure: Principles of Macroeconomics

Course Overview

Introduction to Macroeconomics

This course provides a foundational overview of macroeconomics, focusing on the study of the aggregate economy. Students will explore key macroeconomic concepts, models, and policies, and learn to analyze real-world economic issues using theoretical frameworks. The course emphasizes critical thinking, ethical conduct, and the application of macroeconomic principles to current events and policy debates.

• Course Title: Principles of Macroeconomics (ECON 1104 – 102)

• Instructor: Acilyn Altuntas

• Textbook: Macroeconomics, 9th Edition, by Olivier J. Blanchard and Anthony Patrick O'Brien

• Prerequisites: ECON 1103 or instructor consent; basic geometry and algebraic skills are expected.

Course Structure and Expectations

Attendance and Participation

• Attendance: Regular attendance and participation are essential for success. Occasional absences are excused for documented reasons (e.g., illness, military duty, religious observance).

• Engagement: Students are expected to participate in class activities, discussions, and assessments.

Academic Integrity

• Honor Code: Students must adhere to the university's honor code, which prohibits plagiarism, cheating, and unauthorized use of technology for assignments or exams.

• Use of AI: Submitting work generated or enhanced by AI tools (such as ChatGPT) is strictly forbidden unless explicitly permitted by the instructor.

Course Objectives

• Understand the functioning of the aggregate economy.

• Analyze the determinants of economic growth, unemployment, and inflation.

• Apply macroeconomic models to interpret business situations and policy debates.

• Develop critical thinking and quantitative reasoning skills relevant to macroeconomics.

Major Topics and Units

Unit 1: Macroeconomic Foundations

• Gross Domestic Product (GDP): Measurement and significance of GDP as an indicator of economic activity.

• Unemployment and Inflation: Definitions, measurement, and implications for the economy.

• Economic Growth, Financial System, and Business Cycles: Overview of long-term growth trends, the role of financial institutions, and the nature of economic fluctuations.

Unit 2: Modelling the Macroeconomy

• IS-LM Model: Analysis of the interaction between the goods market (IS curve) and the money market (LM curve).

• Aggregate Demand and Aggregate Supply: Determination of output and price levels in the short and medium run.

• Monetary Policy and the Federal Reserve System: Tools and effects of central banking on the macroeconomy.

Unit 3: Policy and Macroeconomics

• Fiscal Policy: Government spending and taxation, and their impact on aggregate demand and economic stability.

• Monetary Policy: Central bank actions to influence money supply, interest rates, and inflation.

• Open Economy (if time permits): Analysis of international trade, exchange rates, and the global context of macroeconomic policy.

Assessment and Grading

Course Evaluation Components

Component	Weight
Class Engagement	10%
Group Project (presentation and paper)	24%
Midterm Exams (2)	36%
Final Exam (comprehensive, with emphasis on later chapters)	30%

Grading Scale

Percent (%)	Grade
93 – 100	A
90 – 92.99	A-
87 – 89.99	B+
83 – 86.99	B
80 – 82.99	B-
77 – 79.99	C+
73 – 76.99	C
70 – 72.99	C-
67 – 69.99	D+
63 – 66.99	D
60 – 62.99	D-
0 – 59.99	F

Key Policies and Dates

• Exam Make-Up Policy: Make-up exams are only allowed for extreme, documented circumstances.

• Appeals: Students may appeal assessment results if they believe an error has occurred.

• Important Dates: Includes holidays, exam dates, and project deadlines (see course calendar for specifics).

Student Responsibilities

• Attend and participate in all classes and activities.

• Complete assignments, group projects, and exams with academic honesty.

• Seek help and utilize university resources as needed.

Tentative Course Schedule

• Unit 1: Macroeconomic Foundations (GDP, Unemployment, Inflation, Growth, Financial System, Business Cycles)

• Unit 2: Modelling the Macroeconomy (IS-LM, Aggregate Demand/Supply, Monetary Policy)

• Unit 3: Policy and Macroeconomics (Fiscal Policy, Monetary Policy, Open Economy)

Additional info: The syllabus references textbook chapters that align with standard macroeconomics topics, including the goods market, IS-LM model, labor market, inflation, growth, and open economy macroeconomics. The course emphasizes both theoretical understanding and practical application.