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ECON 1202-1: PRINCIPLES OF MACROECONOMICS

Fall 2022

COURSE DESCRIPTION

Economics is the study of how individuals and societies allocate their limited resources in attempting to satisfy their unlimited wants.  Macroeconomics is the study of how an entire national economy functions and interacts with other economies.  It seeks to determine the conditions under which the available resources of a nation can be utilized to maximize the economic well-being of its people. Inevitably, it deals with analyzing and predicting the effectiveness of government policies and actions intended to promote stable economic growth and prosperity.  It attempts to explain the causes of such economic diseases as unemployment, inflation, government deficits, recessions, and fluctuations in financial markets, and to predict the consequences of policies aimed at alleviating these conditions.  Macroeconomics is concerned with such questions as:  Is the U. S. economy self-regulating or is government intervention needed to maintain stable growth?  What would be the consequences of an increase (or decrease) in federal taxes?  Is it possible to achieve full employment without high inflation? Why do business executives and political leaders analyze every word spoken by the Chairperson of the Federal Reserve? Would U. S. workers be better off or worse off if all barriers to free trade with the rest of the world were eliminated?  Why is much of what we eat, wear, drive and play with imported from abroad, and is this a problem?  

In our world today there is a lot of economic uncertainty in regards to the existing world conditions, Covid as well as a new presidential administration.  We will be looking at current events as we go through our course of basic Macroeconomic Theory.

COURSE  FORMAT

This is an in class course. Your classes are held on Tuesdays and Thursdays. We will follow the sequence of topics as presented in the syllabus. (Subject to change) The primary focus will be on basic Macro theory and how it may apply to the existing economy and its many issues. The format is video based with a basic narration power point video on the text’s subject matter, followed by a series of related topic issues. Students are also expected to read the assigned chapters as well. At the end of each weekly assignment there will be a quiz based on the material covered. The goal is to understand basic economic theory and how it can explain our economy today. Mutual respect is the name of the game. I will treat everyone with respect and I expect the same. Everyone is expected to follow the weekly assignment requirements and meet all specified due dates. All quiz and exam questions will primarily be multiple-choice based. Note that there will be weekly quizzes, a midterm exam and a final exam. Note the outline of topics below. The final exam will not be cumulative except there will be questions from chapter 3.    

GRADING

  Your final grade will be determined in the following manner: Subject to change

1) Chapter Quizs- 1/3 of grade (In Achieve)

2) Midterm            1/3 of  grade (In Achieve)  Tentative October 14

3) Final                  1/3 of grade  (In Achieve)-   To be announced

     There will be no extra credit assignments.

Please note-  At the end of the semester I will drop the two lowest quiz scores and the resulting average of all quizzes will count for 1/3 of your grade. These two quiz drops will occur if you complete a survey that will be sent to you shortly after the beginning of the semester. More will be announced. The quizzes have strict weekly due dates. Please note that if you miss the quiz due date you will get a 0 as a score. If you miss a due date of a quiz the only way to be able to make it up is to come to my office during my office hours with an official written excuse. No exceptions! Email requests for extensions will not be answered.

A Note About the Final Exam

Final exam is tentatively scheduled for Wednesday May 5. Students are required to be available for their exam during the stated time. If you have a conflict with this time, you must visit the Dean of Students Office to discuss the possibility of rescheduling this exam. Please note that vacations, previously purchased tickets or reservations, social events, misreading the exam schedule and over-sleeping are not viable excuses for missing a final exam. If you think that your situation warrants permission to reschedule, please contact the Dean of Students Office with any questions. Thank you in advance for your cooperation.

Final Course Letter Grade Basis:

Overall 91% average and higher -        A

Overall 89% to 90.99% average-          A-

Overall 86% to 88.99% average-          B+

Overall 81% to 85.99% average-          B

Overall 79% to 80.99% average-          B-

Overall 76% to 78.99% average-          C+

Overall 71% to 75.99% average-          C

Overall 69% to 70.99% average-          C-

Overall 66% to 68.99% average-          D+

Overall 60% to 65.99% average-          D

Overall 50% to 59.99% average-          D-

Below 50-                                               F

NOTE- I WILL ASSIGN GRADES AS YOU SEE STRICTLY- There will be no bump ups.

ACADEMIC HONESTY  

Studying with a classmate or a small group or tutoring is encouraged. Any student caught cheating on an exam or otherwise submitting graded work that is not entirely their own will receive a grade of zero for the offending activity and the offense will be reported  to the Department Chair and  the Dean's office.  The University policy on academic misconduct applies and you are advised to read that policy, which is posted on Course Compass under Course Materials.               

 HOW TO GET HELP

Your TA will have virtual office hours and discussion sessions to be announced.

 I can be reached via email. I am very available; however it is your responsibility to let me know if you have a problem.

OUTLINE OF TOPICS- Subject to change

Introduction

     Week 1- Chapter 1- First Principles – Quiz 1

                   Chapter 2- Economic Models- Quiz 2

     Week 2- Chapter 3- Supply and Demand- Quiz 3

     Week 3- Chapter 4- Price Controls and Quotas- Quiz 4

     Week 4- Chapter 5- International Trade- Quiz 5

     Week 5- Chapter 6- Macroeconomics, The Big Picture- Quiz 6

     Week 6- Midterm Exam Tuesday 10/4 tentative

     Week 7- Chapter 7- Tracking the Economy- Quiz 7

     Week 8- Chapter 8- Unemployment and Inflation- Quiz 8

     Week 9- Chapter 9- Long Run Economic Growth- Quiz 9

     Week 10- Chapter 10- Savings, Investment and the Financial System- Quiz 10

     Week 11- Chapter 12- Aggregate Demand and Supply- Quiz 11

     Week 12- Chapter 13- Fiscal Policy- Quiz 12

     Week 13- Chapter 14- Money, Banking and the Federal Reserve- Quiz 13

     Week 14- Chapter 15- Monetary Policy- Quiz 14

Final Exam date to be announced

Policy Against Discrimination, Harassment and Related Interpersonal Violence
The University is committed to maintaining an environment free of discrimination or discriminatory harassment directed toward any person or group within its community – students, employees, or visitors.  Academic and professional excellence can flourish only when each member of our community is assured an atmosphere of mutual respect.  All members of the University community are responsible for the maintenance of an academic and work environment in which people are free to learn and work without fear of discrimination or discriminatory harassment.  In addition, inappropriate amorous relationships can undermine the University’s mission when those in positions of authority abuse or appear to abuse their authority.  To that end, and in accordance with federal and state law, the University prohibits discrimination and discriminatory harassment, as well as inappropriate amorous relationships, and such behavior will be met with appropriate disciplinary action, up to and including dismissal from the University.  Additionally, to protect the campus community, all non-confidential University employees (including faculty) are required to report sexual assaults, intimate partner violence, and/or stalking involving a student that they witness or are told about to the Office of Institutional Equity.  The University takes all reports with the utmost seriousness.  Please be aware that while the information you provide will remain private, it will not be confidential and will be shared with University officials who can help.

More information is available at equity.uconn.edu and titleix.uconn.edu

Statement on Absences from Class Due to Religious Observances and Extra-Curricular Activities

Faculty and instructors are strongly encouraged to make reasonable accommodations in response to student requests to complete work missed by absence resulting from religious observances or participation in extra-curricular activities that enrich their experience, support their scholarly development, and benefit the university community. Examples include participation in scholarly presentations, performing arts, and intercollegiate sports, when the participation is at the request of, or coordinated by, a University official.  Such accommodations should be made in ways that do not dilute or preclude the requirements or learning outcomes for the course.  Students anticipating such a conflict should inform their instructor in writing within the first three weeks of the semester, and prior to the anticipated absence, and should take the initiative to work out with the instructor a schedule for making up missed work.  For conflicts with final examinations, students should contact the Office of the Dean of Students.

Faculty and instructors are also encouraged to respond when the Counseling Program for Intercollegiate Athletes (CPIA) requests student progress reports.  This will enable the counselors to give our students appropriate advice.

DISSABILITY POLICY

The University of Connecticut is committed to achieving equal educational and employment opportunity and full participation for persons with disabilities.  It is the University’s policy that no qualified person be excluded from consideration for employment, participation in any University program or activity, be denied the benefits of any University program or activity, or otherwise be subjected to discrimination with regard to any University program or activity.  This policy derives from the University’s commitment to nondiscrimination for all persons in employment, academic programs, and access to facilities, programs, activities, and services.

A person with a disability must be ensured the same access to programs, opportunities, and activities at the University as all others.  Existing barriers, whether physical, programmatic, or attitudinal must be removed.  Further, there must be ongoing vigilance to ensure that new barriers are not erected.

The University’s efforts to accommodate people with disabilities must be measured against the goal of full participation and integration.  Services and programs to promote these benefits for people with disabilities shall complement and support, but not duplicate, the University’s regular services and programs.

Achieving full participation and integration of people with disabilities requires the cooperative efforts of all of the University’s departments, offices, and personnel.  To this end, the University will continue to strive to achieve excellence in its services and to assure that its services are delivered equitably and efficiently to all of its members.

Anyone with questions regarding this policy is encouraged to consult the Office of Institutional Equity (OIE).  The office is located in Wood Hall, Unit 4175, 241 Glenbrook Road, Storrs, Connecticut 06269-4175, telephone, 860-486-2943.