Professor Ryan Edwards                                                                       Queens College – CUNY

Phone: (718) 997-5189                                                                                   Department of Economics

Email:  redwards@qc.cuny.edu                                                              Powdermaker Hall 300-S

Web:    http://qcpages.qc.cuny.edu/~redwards                                        Office Hours: 

                                                                                                              Tue/Thu 3:00–4:00PM

 

ECON 206:  Macroeconomic Analysis

Spring 2012

 

Code

Meeting time

Location

Final exam

6460

Tue/Thu 10:50AM–12:05PM

Kiely 270

TBA

 

Sections below:

Course Overview | Learning Objectives | Prerequisites | Math | Academic Honesty (Cheating)

Required Text | Course Requirements | Problem Sets | Web Sites | Students with Disabilities

 

 

Course Overview. The Census Bureau recently announced that there were 308,745,538 people residing in the U.S. on April 1, 2010. There are now twice as many as were living in this country in 1950. We study macroeconomics because we are interested in the well-being of these many individuals and of the rest of the worldÕs 7 billion people, who live in 192 countries, each with its own economy. While microeconomics provides us with tools to understand decision-making and welfare among individuals and smaller groups, macroeconomics supplies concise but realistic models to assess well-being and economic behavior within much larger groups of individuals.

 

 

LEARNING OBJECTIVES. In this course, we will cover the fundamental questions and issues in macroeconomics, providing a basis for studies you will later pursue in your field courses. Your specific learning objectives in Econ 206 include the following, in order of their appearance in the course, all based on material in the textbook and presented in class:

 

¥   Calculating growth rates from raw data and algebraically by using the growth rate rules

¥   Understanding the meaning, importance, and limitations of physical capital

¥   Using the Solow model to understand the role of saving in growth

¥   Using the Romer model to discuss and explain the role of knowledge accumulation in growth

¥   Understanding the definitions of unemployment, inflation, and present discounted value

¥   Illustrating how monetary and fiscal policies can affect the short-run economy via the IS-MP model

¥   Conceptualizing the governmentÕs budget constraint and the limits to deficit spending

¥   Understanding how international capital flows and free trade affect the macroeconomy

 

 

PREREQUISITES. Both first-year principles courses: Econ 101 and 102 (or 103 and 104).

 

 

MATH. You do not need to have taken Math 131, Calculus with Applications to the Social Sciences, before taking Econ 206. That is, you do not need to know calculus to do well. But you will find that there is plenty of other math in Econ 206. Although the undergraduate bulletin does not mention it, you must have a working knowledge of algebra and graphs in order to pass Econ 206. Some macroeconomic models can be understood through graphs alone, but others require algebra.

 

I will almost never expect you to memorize any math, but you must be able to recognize any math that I show you on an exam. Exceptions are that you really must memorize the national income identity and the growth rate rules, only because these are essential basic components of knowledge.

 

If you find yourself struggling with math, I suggest you either postpone Econ 206 until you have taken Math 131, which you must do to major or minor in economics, or make use of tutoring in Kiely 131.

 

 

Academic honesty. I take cheating extremely seriously. CHEATING consists of acts like copying another studentÕs problem set or exam; copying my lecture slides and turning them in; discussing an exam with anyone during the exam; bringing crib sheets, notes, or other paraphernalia to the exam; and general tomfoolery. Cheating on a problem set earns you a zero and a warning. Cheating on an exam earns you an immediate F for the class and a referral to the VP for Student Affairs. I am ruthless with cheaters. Do not find this out the hard way.

 

Problem set 0 will consist of a plagiarism tutorial and quiz on the course Blackboard site. You will earn extra credit on the problem sets for learning about what constitutes plagiarism and thinking about the consequences. In todayÕs world with ubiquitous use of the Internet, ownership and attribution can be confusing or seem antiquated. It isnÕt. DonÕt copy sources. Cite them. Use them to inform your own thinking.

 

 

Required Text. We will use Macroeconomics by Professor Charles I. Jones, published by Norton, ISBN 0393926389. You can use the first edition, the ÒEconomic Crisis Update,Ó or the second edition. Be advised that the chapter numbers are a little different across editions. There are several ways you can access the textbook, so choose the one that is the best mix of price and convenience for you:

¥       Purchase the textbook from the QC book store

¥       Purchase the textbook from Amazon or another website that deal in used textbooks

¥       Purchase the online eBook version. See http://www.nortonebooks.com to get started

¥       Purchase a downloadable adobe digital edition

¥       Use the textbook on reserve at the QC Library.  Visit the reserve/circulation desk on level 3 of the library, and bring the call number: HB172.5 .J663 2008

Do not buy access to SmartWork, the online homework system, unless you want it for your own purposes. For this class, all homework will be problems from the book that must be submitted online via the course Blackboard site (see below). ThatÕs right, itÕs free. ThatÕs how I roll.

 

Do you need to purchase the textbook? If you want to earn a good grade in the course, I think you should buy the text or find it in a library. You will have access to my class slides, which cover many of the topics, but I think it is too risky not to buy the textbook. People learn in all kinds of ways, and you owe it to yourself to have every means available of mastering the material and earning a good grade.

 

 

Course Requirements. Your overall grade in the course will depend on your performance on problem sets, a midterm exam, and a final exam. Each contributes to your course grade in this way:

 

¥       Twelve short problem sets (& extra credit from a warm-up) are 10% of your final course grade

¥       One midterm exam is 35% of your final course grade

¥       One final exam is 55% of your final course grade

 

The midterm exam will be conducted in class and appears on the course calendar. It will cover chapters 1–6. The exact date, time, and location of the final exam will be announced as soon as they are known.  Those with time conflicts must first see the registrar and then me. 

 

The final will be cumulative, but you should expect to demonstrate your grasp of the concepts, not the details of the models or the math. This course is about creative thinking and problem solving in macroeconomics. The ideal method of preparation for the final exam, and for obtaining a good course grade, is to complete all the problem sets and the exams, and ask questions in office hours and in class.

 

The exams will test your analytical and language skills. You must be able to reason your way through a problem and supply short answers to questions. All the past exams since fall 2006 are available on Blackboard. You should look at them to get an idea of what to expect, but each exam will consist of entirely new questions drawn from the same core material. My exams are hard. They always have been. They are hard for everyone. Buckle down and take a deep breath.

 

 

PROBLEM SETS will be due roughly every week ONLINE ON BLACKBOARD on Sundays by midnight. Plan ahead. Do not email me on Sunday at 11:59 PM. I will not be available. There are no make-ups. Problem set questions are worth 1 point each, and you may make unlimited attempts

 

Problem sets will consist of online questions such as multiple choice true or false, etc., and will be administered and available through the course Blackboard site. You must use Blackboard to complete the problem sets.

 

To complete your problem sets, navigate to Blackboard (see below), and enter the course site. Click on ÒAssignmentsÓ on the left-hand side navigation bar. Then click on the problem set you need to submit, and follow the instructions.

 

Please note that late problem sets will not be accepted, period. Please do not ask to make them up. You must complete them on time. Start early, learn how, ask questions of me and of other students, and come to office hours. Take responsibility.

 

 

Web sites. Course materials will appear on Blackboard, which you must learn how to use. There is also a publicly viewable course website where I place the syllabus but nothing else. The Blackboard web tool can be accessed at http://www.cuny.edu through the Log-in link at the bottom on the left-hand side. Once in, look for ÒBlackboardÓ under ÒSSO ApplicationsÓ and click it. We will use version 8.0. 

 

Help for Blackboard is available at http://qcpages.qc.cuny.edu/edtech/BlackBoard/students.html

 

 

 

STUDENTS WITH DISABILITIES and other special needs will be fully accommodated. Please see the Queens College Office of Special Services in Kiely 171 (718-997-5870) to address these needs.