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Course Syllabus

ECON 302: Intermediate Macroeconomics

Summer 2022

Course Description:

This course provides you with theory and empirical data to understand how the overall economy functions and to assess associated policy questions. Prominent topics covered in this course include measures of the macroeconomy, economic growth and living standards in the long run, business cycle fluctuations and recessions, and monetary and fiscal policies.

The prerequisite for this course is ECON 202 (Principles of Macroeconomics).

Required Materials:

N. Gregory Mankiw. 2022. Macroeconomics, 11th Edition;

Achieve Essentials for Mankiw, Macroeconomics 11e.

You can purchase access to the textbook Achieve Essentials portal through this link.

Course Objectives:

After the completion of this course, students will be able to:

1) Explain such economic concepts as GDP, business cycles, inflation, unemployment, and economic growth.

2) Distinguish between fiscal and monetary policies.

3) Identify the tools of fiscal and monetary policies.

4) Analyze the effects of fiscal and monetary policies on economic growth.

5) Analyze current economic conditions in the US in the light of macroeconomic policies in effect.

6) Analyze money, interest rates, inflation, and inflation - unemployment relation.

7) Summarize functions and tools of the Federal Reserve System and compare it to the central bank in a selected country.

8) Interpret monetary policy implementation in the United States.

9) Assess a central bank’s functions and tools of a selected country.

10) Articulate their own critical thinking in a presentation.

Course Delivery and Structure:

1. For the first week of classes, we will have synchronous class meetings via Zoom on Monday, June 27th and on Wednesday, June 29 from 8 p.m. -- till 9:15 p.m. China Time.

2. During subsequent weeks, we will have synchronous class meetings via Zoom from 8 p.m. -- till 9:15 p.m. China Time on Tuesdays and Thursdays.

3. We will use Blackboard as the central hub for our class. Link to Achieve Essentials (assignments and the e-book), announcements, and grades will all be on Blackboard.

Blackboard Tutorials: https://www.fhsu.edu/learningtechnologies/BlackboardStudentTutorials/

4. Deadlines: Deadlines are listed in Achieve Essentials for each assignment.

Policies and Expectations:

1. Academic dishonesty in any form and to any degree will result in an automatic failure in the course.

2. FHSU Student Handbook describes the FHSU policies and procedures. (Some of these policies are available on the Blackboard page of your course).

3. Students with special needs should contact the Kelly Center. (Some of these policies are available on the Blackboard page of your course).

Course Outline and Schedule:

The due dates and times for the assignments (exams, projects, homework, etc.) are on Achieve Essentials Portal. The coverage for exams will be announced closer to the exam date.

Week/Day

Topic

Assignment/Meeting

Week 1:

Monday, June 27 – Sunday, July 3

Overview of the course:

- Textbook and Achieve

- Project

- FRED

Chapter 1: The Science of Macroeconomics

Chapter 2: The Data of Macroeconomics

Classical Theory: The Economy in the Long Run

Chapter 3: National Income: Where it Comes from and Where It Goes

Chapter 4: The Monetary System: What it is and How it Works

Chapter 5: Inflation: Its Causes, Effects, and Social Costs

Monday, June 27, at 8 PM China time

Virtual class meeting via Zoom

1. Overview of the course:

-- Achieve portal -- check assignments’ due time

Orientation assignment

Using Assessment Tools

Math Review

-- Course Project discussion

-- Penn World Tables.

-- FRED portal

2. Content:

-- Chapter 1: The Science of Macroeconomics

-- Chapter 2: The Data of Macroeconomics

Tuesday, June 28 --

Homework -- Achieve Portal:

Chapter 1: The Science of Macroeconomics

Chapter 2: The Data of Macroeconomics

Pay attention to details and deadlines!

There are many assignments within each chapter.

Project: think about your project, start researching.

Record your project topic selection in the GoogleDoc - due Wed at 8 p.m.

Wednesday, June 29 at 8 PM China time --

Virtual Class meeting via Zoom

-- Project discussion

-- Chapter 3: National Income: Where it Comes from and Where It Goes

Homework - Achieve Portal:

Chapter 3: National Income Accounting

Pay attention to details and deadlines!

There are many assignments within each chapter.

Project:

Record your project topic selection in the GoogleDoc - due Wed at 8 p.m.

Start researching and getting data for your selected topic.

Thursday, July 30

Homework - Achieve Portal:

Chapter 4: The Monetary System

Pay attention to details and deadlines!

There are many assignments within each chapter.

Project:  start reading academic and professional articles related to your topic.

Friday, July 1 --

Homework - Achieve Portal:

Chapter 5: Inflation

Pay attention to details and deadlines!

There are many assignments within each chapter.

Project: start collecting data and select bibliography for your project.

Saturday, July 2 --

Work on your Project

Sunday, July 3 --

Work on your Project

Week 2:

Monday, July 4 -- Sunday, July 10

Chapter 7: Unemployment and the Labor Market

Growth Theory: The Economy in the Very Long Run

Chapter 8: Capital Accumulation as a Source of Growth

Chapter 9: Population Growth and Technological Progress

Chapter 10: Growth Empirics and Policy

Business Cycle Theory: The Economy in the Short Run

Chapter 11: Economic Fluctuations

Chapter 12: Building IS-LM Model

Monday, July 4 – work on your project and Achieve portal HW

-----------------------------------------------------------------------------------

Tuesday, July 5 – Virtual class meeting via Zoom

-- Chapter 4: The Monetary System: What it is and How it Works

Wednesday, July 6 --

Homework - Achieve Portal

Chapter 7: Unemployment and the Labor Market

Thursday, July 7 -- Virtual class meeting via Zoom

-- Chapter 5: Inflation: Its Causes, Effects, and Social Costs

Homework - Achieve Portal

Chapter 8: Capital Accumulation as a Source of Growth

Friday, July 8 --

Homework - Achieve Portal

Chapter 9: Population Growth and Technology

Chapter 10: Growth Empirics and Policy

Saturday, July 9 -- Project

Sunday, July 10 -- Project

Week 3:

Monday, July 11 -- Sunday, July 17

Business Cycle Theory: The Economy in the Short Run

Chapter 11: Economic Fluctuations

Chapter 12: Building IS-LM Model

Chapter 13: Applying IS-LM Model

Chapter 15: Phillips Curve

Midterm Exam

Monday, July 11 – Project

Homework - Achieve Portal

Chapter 11: Economic Fluctuations

Tuesday, July 12 Virtual class meeting via Zoom

-- Chapter 7:  - Unemployment and the Labor Market

Homework - Achieve Portal

Chapter 12: Building IS-LM Model

Midterm Exam opens on Blackboard at 9:30 p.m. China Time on Tuesday (after class session).

Midterm Exam coverage - Chapters 1, 2, 3, 4, 5, 7, 8, 9, 10.

Midterm Exam is due at 11:59 p.m. China Time on Friday.

Wednesday, July 13 --

Homework - Achieve Portal

Chapter 13: Applying IS-LM Model

Work on the Midterm Exam

Thursday, July 14 -- Virtual class meeting via Zoom

-- Chapters 8, 9, and 10: Economic Growth

Work on the Midterm Exam

Friday, July 15 -- Midterm Exam is due.

Midterm Exam is due at 11:59 p.m. China Time on Friday.

Saturday, July 16 -- Project

Sunday, July 17 -- Project

Week 4:

Monday, July 18 -- Sunday, July 24

Macroeconomic Policy

Chapter 17: Stabilization Policy

Chapter 18: Government Debt and Budget Deficits

Chapter 19: Financial System

Monday, July 18 –

Homework - Achieve Portal

Chapter 15: Phillips Curve

Tuesday, July 19 -- Virtual class meeting via Zoom

-- Chapters 11, 12, 13, and 15: Business Cycle Theory

Homework - Achieve Portal

Chapter 17: Stabilization Policy

Wednesday, July 20 --

Homework - Achieve Portal

Chapter 18: Government Debt and Budget Deficits

Thursday, July 21 -- Virtual class meeting via Zoom

-- Chapters 17, 18, and 19: Macroeconomic Policy

Homework - Achieve Portal

Chapter 19: Financial System

Friday, July 22 Project

Saturday, July 23 -- Project

Sunday, July 24 -- Project

The Project Report is due on Sunday, July 24 at 11:59 p.m. China Time.

Week 5:

Monday, July 25 – Friday, July 29

Students’ Projects Presentations

Final Exam

Monday, July 25 –

Homework - Achieve Portal

Review as the aid for the Final Exam.

Final Exam opens on Blackboard at 9:30 p.m. China Time on Monday.

Final  Exam coverage - Chapters 11, 12, 13, 15, 17, 18, 19.

Final Exam is due at 11:59 p.m. China Time on Thursday.

Tuesday, July 26 -- Virtual class meeting via Zoom

Project Presentations

Homework - Achieve Portal

Work on the Final Exam

Wednesday, July 27

Homework - Achieve Portal

Work on the Final Exam

Thursday, July 28 Virtual class meeting via Zoom

Project Presentations

Course wrap-up -- what have we learned?

Final Exam is due tomorrow at NOON China Time.

Friday, July 29 --

Finish up the Final Exam.

Final Exam is due at NOON China Time on Friday via BB.