Economics: Principles of Macroeconomics

Introduction to economic concepts, institutions, and analysis, particularly as related to the economy as a whole. May be taught with traditional approach or with strong mathematical emphasis.

Asynchronous online

PREREQUISITES AND CREDITS No prerequisites. Principles of Macroeconomics is a three-credit course, which represents a minimum workload of nine hours a week in a regular semester, including instruction. For a summer course, it represents 27 hours a week, including instruction. COURSE DESCRIPTION This course is an introduction to a field of economics called Macroeconomics, which looks at the behavior of the economy as a whole. Macroeconomics directly or indirectly deals with real life questions such as: Does globalization cause unemployment and inequality? Are there limits to economic growth? What is the rate of unemployment telling me about my chances to get a job after college? What are policy makers doing when there is an economic recession and does this work? Why are the Federal Reserve interest rates so important for the economy? Why is there inflation? Macroeconomics offers a rigorous way to understand and address those questions. It relies on the study of facts, data, and theories, which are covered in this course at an introductory level. The course is organized around five modules: • In Module 1, we study basic economic concepts and tools that apply to macroeconomics, • In Module 2, we focus on understanding international trade, • In Module 3, we learn how to measure the main indicators of macroeconomic activity, • In Module 4, we focus on the financial system and money, • In Module 5, we study economic fluctuations and government policies fighting expansions and recessions. LEARNING OBJECTIVES After this course, you should be able to • Recall important macroeconomic data, trends, and events, • Describe and discuss macroeconomic issues • Apply formulas to calculate macroeconomic indicators and interpret them (quantitative reasoning/ Applied data interpretation), • Analyze the macroeconomy and government policies using diagrams (analytical and critical thinking).

REQUIRED TEXTBOOK The course section is EC1400 B MACROECONOMICS, by Krugman and Wells, 5th edition (There is a 6th edition, but the 5th is much cheaper and I do the necessary updates in my lectures). Here are some options to purchase the 5th edition: USED https://www.amazon.com/Macroeconomics-Paul-Krugman/dp/1319098754 FOR RENT https://www.chegg.com/textbooks/macroeconomics-5th-edition-9781319098759-1319098754 You do not need to purchase the “Sapling Plus” access. We will not use their website. Instead, you will complete your homework through BrightSpace, which is free. COURSE SITE Homework assignments, class notes and tests are all posted on BrightSpace. Students, please read this technology checklist to make sure you are ready for classes. https://www.uvm.edu/it/kb/student-technology-resources/ Students should contact the Helpline (802-656-2604) for support with technical issues.

ASSESSMENTS Homework: 40% of the semester score. Tests: 60% of the semester score. There are three non-cumulative tests, each worth 20%. MEETING DEADLINES, EXAM DATES, GRADE APPEALS, AND CLASSROOM CODE OF CONDUCT Homework due dates and exams dates are announced in advance in the schedule. Homework assignments needs to be turned in on time for full credit. Late homework turned in 48 hours late is marked 50% off. After this, homework solutions are posted and homework cannot be turned in anymore. Tests are all taken online on BrightSpace. Questions are scrambled and there is no backtracking. Tests can be rescheduled in rare exceptions, including planned athletic or religious event provided within the deadlines specified by the university, ACCESS accommodation, or Student’s Dean’s Office excuses (which covers illness). There are no additional assignments or tests beyond those provided for everyone during the course period within the deadlines specified in the study plan. Standard grade scale: >=97%: A+ >=87%: B+ >=77%: C+ >=67%: D+ >=93%: A >=83%: B >=73%: C >=63%: D >=90%: A- >=80%: B- >=70%: C- >=60%: D- < 60%: F If you would like to contest a grade, please follow the procedures outlined in this policy: https://www.uvm.edu/policies/student/gradeappeals.pdf