ECONOMICS 304L: Introduction to Macroeconomics
Fall 2009
Unique No. 33670
UTC 2.210A
Michael A. Sadler
Office: BRB 2.102B
(512) 475 - 8517
msadler@austin.utexas.edu
website: TBD
Office hours: Tuesday, 10:30 – 12:00, Wednesday 9:30 – 11:00
Objectives: This class will provide you with an introduction to concepts and models of
macroeconomics. By the end of the semester, you will understand the operation and effects of monetary
and fiscal policy, theories on why some economies grow faster than others, how the international
economy operates, and many other things. We will also discuss recent macroeconomic phenomena,
such as the effects of the financial crisis, and the role of fiscal and monetary policy in dealing with the
crisis.
Teaching Assistants: We have two teaching assistants, whose names, contact information and office
hours are given below. You are encouraged to contact the TAs when you need help with the course
material, have questions about an exam or quiz, or any other matter related to the course. The TAs will
also be holding optional review sessions prior to each exam.
Sarah Popkin. Office: BRB 4.118. Office hours: Monday 3:00 – 5:00, Thursday 11:00 – 12:00.
Email: sarahpopkin@mail.utexas.edu.
Russell Gerber. Office: BRB 4.120. Office hours: Tuesdays and Thursdays 2:00 – 3:30. email:
russell.gerber@gmail.com .
Textbook: The textbook is N. Gregory Mankiw, Principles of Macroeconomics, 5th edition published
by South-Western. There is also a study guide that you can purchase. It is authored by David R.
Hakes. If you cannot find it in the bookstores, you can order a copy yourself from the bookstores or
online. There is also a website for the book that I encourage you to explore:
(www.cengage.com/economics/mankiw).
Grades: Your grade in the course will be based on three midterm exams, periodic quizzes, and a
comprehensive final exam. The final exam is optional, and will replace the lowest midterm exam score
earned during the semester if you choose to take it. All exams are equally weighted.
Exams (best 3 of 4) 300 points (100 each exam)
Quizzes (best 4 of 5) 100 points (25 each quiz)
The grading scale will be A: 360+, B: 320 – 359, C: 280 – 319, D: 240 – 279.
There is no "extra credit" possible in this class and grades will not be "curved".
Final Exam: The semester does not officially end for any student until the completion of the final
exam period. This means that you should never make plans to leave prior to the end of finals. Please
do not ask me to take the final earlier or later than that date unless you have a conflict that meets the
requirements of the University for setting an alternative final exam date.
Midterm Exams and Quizzes: Unless you have an official university excuse (e.g., athletics), then there
is no such thing as a make-up exam or quiz in this class. Remember that you can drop one quiz score,
and your final score can replace your lowest exam score (even if it is zero). This effectively eliminates
the need for make-ups. If you do have an official university excuse, then you must notify me at least
one week in advance to arrange to take the exam prior to your departure.
Homework: Several times during the semester, I will post homework problems for you to complete, but
they will not be handed in or graded. These problems are intended to assist you in understanding the
material that we discuss in class as well as to prepare you for upcoming quizzes and exams. Note: it is
not possible to perform well in this class without paying careful attention to the homework problems.
Within a week after the homework is posted, I will post solutions for you to check your work.
However, I encourage you to attempt the homework problems on your own instead of waiting for my
solutions.
Appeals: There is a statute of limitations on appeals of exam and quiz scores. For example, if you feel
that your answer could have been correct, also, yet you were not given credit, then you have one week
from the date that exams were handed back in order to bring this to the attention of one of the TAs or
me.
Class behavior: Here are a few very simple rules for lectures:
(1) Please pick up after yourself when you leave
(2) Please do not read the newspaper or other material in class
(3) There must be a better place to sleep than here, so please stay awake
(4) Please try to answer questions posed during lectures
(5) Turn your cell phone off and do not send text messages during class
(5) Always laugh at my jokes, whether you understand them or not
The following schedule is best viewed as an approximation. We will not begin and end each topic
precisely as shown here. For this reason, it is best to attend class regularly to find out what is being
covered. Dates for quizzes and exams are firm, regardless of the pace of the class. I will inform you in
class of the material that will be covered in upcoming exams and quizzes.
Week Beginning
|
Topic
|
Chapters in Mankiw
|
Special Dates
|
8/26
|
Intro and Review
|
2, 4
|
|
8/31
|
National Income Accounting
|
10
|
|
9/9
|
Measuring the Cost of Living
|
11
|
Quiz 1, Friday 9/11
|
9/14
|
Growth and Productivity
|
12
|
|
9/21
|
Employment and Unemployment
|
15
|
Exam 1, Friday 9/25
|
9/28
|
Saving Investment and the Financial System
|
13
|
|
10/5
|
Introduction to Financial Economics
|
14
|
Quiz 2, Friday 10/9
|
10/12
|
The Monetary System
|
16
|
|
10/19
|
Money Supply Growth and Inflation
|
17
|
Quiz 3, 10/23
|
10/26
|
Intro to Open Economy Macro
|
18
|
Exam 2, Friday 10/30
|
11/2
|
Intro to Aggregate Supply & Demand
|
20
|
|
11/9
|
Monetary and Fiscal Policy
|
21
|
Quiz 4, Thursday 11/13
|
11/16
|
The Phillips Curve
|
22
|
|
11/23
|
See note below
|
|
Exam 3, Monday 11/23
|
11/30
|
A Macroeconomic Model of the Open Economy
|
|
Quiz 5, Wednesday 12/2
|
Note: there will be no class the Wednesday prior to Thanksgiving, November 25.