MGEB05 – LEC 01

MACROECONOMIC THEORY AND POLICY

Fall 2021

Course Description:

Macroeconomics is the study of the structure and performance of national economies and ofthe policies

used  by  government  to  affect  the  economy.    This  course  provides  a  general  understanding  of macroeconomic theory with the help of algebra.  Topics to be covered include:

•    Economy in the long run

•    Economic fluctuations in the short run

•    Macroeconomics of open economy (in both short run and long run)

Our course will be organized as follows:

•    We will flip the classroom and the lectures will consist of two parts:

1)  Weekly pre-recorded lectures – the recordings will be posted on Quercus under the module “Pre- recorded Lecture Videos and Lecture Notes”.

➢  These recordings will be made available on the Wednesday the week before.  For example, Week 2 videos will be posted on Friday of Week 1

➢  You are expected to watch these videos before attending the live, synchronous lectures.

2)  Weekly live, synchronous lectures – it is important for us to have a space to meet, and we will meet on scheduled class time stated on the timetable to go over additional problems.

➢  The problem sets will be posted on Quercus under the module “Live Lecture Videos & Notes” ahead oftime.

➢  The recorded lectures will be posted under the above module after the session is over.

Prerequisite(s):

•    Lecture notes, review questions, and assignments will be posted on Quercus; students are expected to check it on a regular basis.

Assignment 1 (Group or individual on Crowdmark) Assignment 2 (Group or individual on Crowdmark) Participation (live sessions on Zoom)1, 2

Midterm (on Quercus)

Final Exam (on Quercus)

10% (Due on Friday, October 8)    10% (Due on Friday, December 3) 10%

30% (Friday, October 22, in-class) 40%

•    Grades are NOT transferable (unless missing midterm with LEGITIMATE reason).

➢  However,  for  those  who  have  attempted  the  midterm,  improvement  will  be  taken  into consideration when assigning the overall course grade. If you write the final exam and your mark on the final is higher than on the midterm, the lower midterm mark will be replaced by the final exam mark.

•    All date and time mentioned are Toronto time.

Note:

1)   To lower weights attached to online exams and to encourage everyone to participate in the live sessions of the class, there will be 10% participation marks. Professor Au understands that some of you are out oftown and there are time zone issues. For those who do not want the participate marks to be counted, please notify Professor Au by email no later than Wednesday, September 22, 2021, 5:00pm (Toronto time).  In your email,please include course code, name, ID# and reason to opt out.  The deadline to opt out for classroom participation is strictly enforced and no exception will be made.  If you chose to opt out your grading scheme will be revised such that your midterm will count for 35% and final exam will count for 45% (i.e., the 10% participation marks will be equally split between midterm and final exam).

2)   Each live session is worth 1 mark and the best 10 out of 12 will be counted for grade. In each live session, 0.5 mark comes from attendance (students are expected to join no later than 15 minutes after the hour & to stay until the end of the session). The other 0.5 mark comesfrom participation

– students are expected to answer questions Professor Au posted on the chat box throughout the lectures.

• LATE assignments will NOT BE ACCEPTED UNDER ANY CIRCUMSTANCE.

• ABSOLUTELY NO MAKE-UP MIDTERM EXAM. If  you   miss   the   midterm   with LEGITIMATE reason, you can request to have the weight of the midterm transferred to the final exam. YOUR REQUEST MUST BE SUPPORTED BY PROPER DOCUMENTATION AND MUST BE SUBMITTED WITHIN ONE WEEK AFTER THE MIDTERM IS WRITTEN.

•    The university has created a new standardized form for students who are requesting special academic consideration based on illness or injury. The form focuses upon the degree of incapacitation that the illness or injury has upon the student’s academic functioning and the timeline of that incapacitation, rather than on diagnosis  and /or details of the problem. All  students must now have a health professional complete this new form:

http://www.illnessverification.utoronto.ca/index.php

Re-grading Policy:

If you want to have your term work re-graded, please follow the instructions below:

1)  Ifthere are addition errors, please inform Professor Au immediately.

2)  Re-grading will not be done for penciled answers.

3)  Carefully compare your answer to the answer key.  If you have questions about the grading, go and talk to the marker who graded the question(s) you have concerned first.  If you are not satisfied with the explanation, then you MUST SUBMIT A TYPED REQUEST for re-grading.

4)  The request must include the following information:

•    Name & student number

•    Date of request & the question(s) you asked for re-grade.

• DETAILED EXPLANATION WHY YOU DESERVED A RE-GRADING.

5)  When you request for re-grading, THE WHOLE ASSIGNMENT/EXAM will be re-graded based on the initial grading scheme. YOUR MARK MAY INCREASE, DECREASE, OR REMAIN UNCHANGED after the re-grading.

6)  Deadline: Within two weeks of the date of distribution of the original grade (request that is submitted after 5:00pm on the last day of the re-grading period will not be accepted).

The University of Toronto is committed to equity, human rights and respect for diversity. All members of the learning environment in this course should strive to create an atmosphere of mutual respect          where all members of our community can express themselves, engage with each other, and respect one

another’s differences. U of T does not condone discrimination or harassment against any persons or communities.

If you have questions or concerns on issues related to EDI, please contact the Equity, Diversity and Inclusion Office: https://www.utsc.utoronto.ca/edio/

Academic Support:

UTSC Library:

The BRIDGE and the UTSC Library are operating online! We are offering our full suite of programs     and services to support students, staff, and faculty in their studies, research projects, and experiential      learning initiatives.

Visit The BRIDGE @ Quercus (https://q.utoronto.ca/courses/157077) to:                                               •    Participate in virtual events and competitions                                                                                  •    Get research and data analytics help                                                                                                 •    Access data and academic research tools and tutorials                                                                     •    Get support in entrepreneurship and the New Venture Program                                                      •    To learn more about Work Integrated Learning

To find out more about the UTSC Library’s support for students during the University closure, please visit:https://utsc.library.utoronto.ca/

For all other inquiries, please email[email protected]or email your Liaison Librarian, Mariana Jardim at[email protected]

Health & Wellness Centre:

The Health & Wellness Centre provides professional and confidential medical, nursing, counselling,

health promotion, and education services to all UTSC students. These services are offered in a safe, caring, respectful, and empowering environment that is directed toward optimizing your personal,   academic, and overall wellbeing.   To access these services, please use the following url: https://www.utsc.utoronto.ca/hwc/health-wellness-centreand when visiting the Health & Wellness  Centre, please bring a valid T-card and Health card.

Academic Advising and Career Centre:

The Academic Advising and Career Centre (AA&CC) at UTSC integrates developmental advising,   learning/study skills, career counselling, and employment coaching.  To reach out to them please use the following url:https://www.utsc.utoronto.ca/aacc/

AccessAbility Services

The University provides academic accommodations for students with disabilities in accordance with the terms of the Ontario Human Rights Code. This occurs through a collaborative process that acknowledges a collective

obligation to develop an accessible learning environment that both meets the needs of students and preserves the essential academic requirements of the University’s courses and programs.

Students with diverse learning styles and needs are welcome in this course. If you have a disability that may

require accommodations, please feel free to approach me and/or the Accessibility Services office.

https://www.utsc.utoronto.ca/ability/welcome-accessability-services

English Language Development Centre:

The English Language Development Centre (ELDC) helps students develop the critical thinking,           vocabulary and academic communication skills essential for achieving academic and professional         success. Personalized support includes: RWE (for academic writing); Communication Cafés (oral);       Discussion Skill-Building Cafés; Vocabulary Cafés; seminars/workshops; personal ELD consultations; drop-in sessions.http://ctl.utsc.utoronto.ca/eld/

The Writing Centre:

The Writing Centre (TWC) offers invaluable services to students (learn to become a better writer!) and offers many different kinds of help: drop-in sessions, individual consultations, workshops, clinics, and  online writing handouts. http://ctl.utsc.utoronto.ca/twc/

Academic Misconduct:

Academic integrity is essential to the pursuit of learning and scholarship in a university.  The               University treats cases of cheating and plagiarism very seriously. The University of Toronto’s Code of Behaviour on Academic Matters outlines the behaviours that constitute academic dishonesty and the     processes for addressing academic offences.  Any student caught engaging in such activities will be      subject to academic discipline ranging from a mark ofzero on the assignment, test or examination to    dismissal from the university as outlined in the Code ofBehavior on Academic Matters.  Any student   abetting or otherwise assisting in such misconduct will also be subject to academic penalties.  Link to   the University ofToronto’s Code ofBehaviour on Academic Matters

https://governingcouncil.utoronto.ca/secretariat/policies/code-behaviour-academic-matters-july- 1-2019

If you like to find out more information regarding university advice for ‘How not to plagiarize’, please use the following url:  https://advice.writing.utoronto.ca/using-sources/how-not-to-plagiarize/

More generally, the link below includes a lot of useful advice for students on academic writing:

https://advice.writing.utoronto.ca/

This course, including your participation, will be recorded on video and will be available to students in the course for viewing remotely and after each session.

Course videos and materials belong to your instructor, the University, and/or other sources depending on the specific facts of each situation, and are protected by copyright. Do not download, copy, or share any course or student materials or videos without the explicit permission ofthe instructor.

For questions about recording and use of videos in which you appear please contact your instructor.

Important Dates: