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Villanova University

Department of Economics

Economics 1002 Dr. Zech
Principles of Macroeconomics Spring 2001

Text:

Campbell R. McConnell and Stanley L. Brue, Macroeconomics, McGraw-Hill, 1999, 14th ed.

Objectives/Learning Outcomes:  

This course revolves around 5 principal themes:

1.  Introduction to the subject matter of Economics and to the nature and characteristics of the American economy.
2. Analysis of the forces that govern the determination of the aggregate level of economic activity.
3. Analysis of the American banking system and its role in affecting the level of economic activity.
4.  Acquaintance with the principles of economic growth and the policy instruments available for fostering the growth of the economy.
5. The impact of the global economy on the U.S. domestic economy

Course Method and Requirements:

The presentation of Principles of Macroeconomics will consist primarily of lectures and discussions of basic problems in economic analysis; these will be backed up with assignments in the text.  It is also expected that there will be numerous references to other supplementary tests and readings in the field.  Students are expected to prepare adequately for class by reading all assignments before the class meeting so that they can participate more actively and intelligently.

Course Grading:  

Exam I 50 Points
Exams II & III 100 Points EACH
Current Events Paper 50 Points
Final Exam (Cumulative) 150 Points

Make-Up Policy:  

A student missing an exam must either notify the professor in advance or present a written excuse.  Missed exams with an acceptable excuse will be made up at a time to be determined by the professor.

Academic Integrity Policy Statement:

The Code of academic Integrity of Villanova University addresses cheating, fabrication of submitted work, plagiarism, handing in work completed for another course without the instructor’s approval, and other forms of dishonesty. For the first offense, a student who violates the Code of Villanova University will receive 0 points for the assignment. The violation will be reported by the instructor to the Dean’s office and recorded in the student’s file. In addition, the student will be expected to complete an education program. For the second offense, the student will be dismissed from the University and the reason noted on the student’s official transcript.

 Statement on Disability:

It is the policy of Villanova to make reasonable academic accommodations for qualified individuals with disabilities. If you are a person with a disability please contact me after class or during office hours and make arrangements to register with the Learning Support Office by contacting Ms. Nancy Mott at 610-519-5636 as soon as possible. Registration is needed in order to receive accommodations.

Office:   

Bartley 3022 

Phone

610-519-4371 

Fax:  

610-519-6054       

Email

charles.zech@villanova.edu

Office Hours:  

Monday, Wednesday: 10AM – 11:15 AM; 2-3 PM

COURSE OUTLINE

Date Topic Readings
January 15 Introduction   Chs. 1-2

This section introduces some fundamental concepts which constitute the foundation of economic science.

January 22, 29 The American Economic System  Chs. 3-5

This section describes the capitalist ideology and explains how the US economic system deals with the economic problem.

EXAM I
February 5, 12         Measuring Economic Activity  Ch. 7, pp. 148-151

In order to evaluate the economy's performance, we first must be able to measure it.  This section examines various measures of the economy's       performance, and considers their strength and weaknesses.

February 19, 26            Macroeconomic Models Chs. 9-11

Models explaining consumption, saving and investment schedules are developed in order to analyze and explain both the levels of and changes in output, income and employment.

March 12  Fiscal Policy  Chs. 12, 19

This section discusses how fiscal policy (i.e., government spending and tax collection) is used to increase output and employment or reduce the   rate of inflation.

EXAM II
March 19, 26 American Banking System Chs. 13-14

This section deals with the nature and functions of money and the basic institutions of the American Banking System.

April 2  Monetary Policy  Ch. 15

This section discusses the objectives of monetary policy and the techniques of monetary control.

EXAM III
April 9 Inflation and Unemployment Chs. 8, 16

This section considers the various types of unemployment and inflation, their causes, and their remedies.

April 16            Controversies in Macroeconomics  Chs. 16-18

In addition to the standard Keynesian and Monetarist models, other macroeconomic models have emerged in recent years. The theory behind these models, and their policy implications, are explored.

April 23, 30 The Global Economy Chs. 20-23

As part of the global economy, the U.S. domestic economy is affected by such factors as comparative advantage, exchange rates, and the development of third world and transitional economies. In turn, U.S. policies can impact these same factors.

FINAL EXAM
(Cumulative)
May 8, 2002
1:30 P.M.