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ECO2021 Basic Macroeconomics

Tentative Syllabus

Spring 2023

1.   General Course Information

Instructor: Martin Shu ([email protected])

Office hours: Friday 15:00-17:00 by appointment in advance

Teaching assistant: Yaoyao Liu ([email protected]) T01, T02

Huaiyu Zhang ([email protected])  T03, T04

Lecture time: L1: MW 10:30-11:45

L2: MW 13:30-14:45

Lecture classroom: TB-105

Tutorial time: M 18:00-18:50; M 19:00-19:50; Tu 18:00-18:50; Tu 19:00-19:50

Tutorial classroom: TD-107 (Monday), TD-307 (Tuesday)

Macroeconomics is the study of the economy as a whole. In Microeconomics, you studied how individuals behave and interact with each other in an economic market.  In this term, we will look at the whole economy, to understand how it behaves and what affects it.  We study issues like GDP, economic growth, interest rates, unemployment, inflation, and business cycles.  

The study of Macroeconomics allows the government to decide what its economic policy should be and allows businesses to estimate the effect of government policy on the business environment.  Macroeconomic questions include: What affects the long-term growth rate of the National Income? What can the government do to affect the unemployment rate?  What causes inflation?  These and other questions will be addressed in this course.

2. Prerequisites

Basic Microeconomics (ECO2011)

3. Learning Outcomes

Upon completing this course, students will be able to:

· Define the various basic macroeconomic terms and concepts and synthesize them into a coherent macroeconomic structure.   

· Analyze and predict the behavior of the aggregate economy in the short run and in the long run; including how various policies and events affect the markets for labor, loanable funds, and general goods and services, and how this influences the key macroeconomic variables: inflation, unemployment, and GDP.

· Be aware of the recent history and current macroeconomic environment of major countries around the world, especially that of China, Europe, and the US; and be able to discuss current macroeconomic affairs by applying the concepts and theories from this course.    

4. Assessment Method

There will be one assignment each week. Each assignment bears 2% towards the final grade and only the highest-scoring ten assignments count towards grade. Late submission is NOT accepted for fairness since we have a huge class.

There is no make-up mid-term exam. Students who miss the mid-term exam for any reason will have the corresponding weight shifted to the final exam. Students who miss the final exam for medical reasons should present doctors’ notes and may request to take a make-up exam.

The final exam is cumulative – covering materials of the entire semester.

5. Reading

A. Required

· There is no required textbook for this course.

B. Recommended

· A number of great textbooks in macroeconomics are useful for this course, including Macroeconomics by G. Mankiw, Macroeconomics by O. Blanchard, Macroeconomics by P. Krugman and R. Wells, and Macroeconomics by R. Hubbard and A. O’Brien. Relevant textbooks will be reserved in the library and students are encouraged to consult them for their study.

· Supplementary reading materials will be posted on Blackboard

6. Indicative teaching plan

7. Honesty in Academic Work

The Chinese University of Hong Kong, Shenzhen places very high importance on honesty in academic work submitted by students and adopts a policy of zero tolerance on cheating in examinations and plagiarism. Any related offence will lead to disciplinary action including termination of studies at the University. Please visit the following website for details of university policy on Honesty in Academic Work:

http://www.cuhk.edu.cn/departsite/ar/en/Academic.html.