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Wayne State University ECO 2020: Principles of Macroeconomics

Department of Economics Fall 2014 section 003 14277

Instructor: Jie Yang
Office: 2136 FAB
Office Hours: Monday and Wednesday, 2:40 p.m.-3:40 p.m. and by appointment
E-mail: es8965@wayne.edu (Please feel free to email me with questions or concerns.).

Course Materials
Required: Macroeconomics by Paul Krugman and Robin Wells, Third Edition (copyright 2012),
Worth Publishers, EconPortal for Macroeconomics, and Sapling Learning
Notes:
(a) Required package only available at the WSU bookstore ISBN 1464190178
The package includes a print book (loose- leaf), EconPortal, and SaplingLearning. Please do not
buy any other option as it will not have the materials required for the course.
(b) You will have 21 days of free access to both EconPortal and SaplingLearning. See details
below.
(c) There are 5 copies of the ECO 2020 textbook on 2-hour (in- library use only) reserve at the
David Adamancy Undergraduate Library.

Course Description

The course deals with the study of behavior of economy as a whole. In particular, it focuses on
the measurement of macroeconomic variables - gross domestic product, inflation rate, interest
rate, and unemployment rate- and the factors determining these variables in the long run and
short run.

Pre-requisite Knowledge
You should be familiar with simple graphs and simple algebra. If you are not familiar with these,
you should expect to spend some extra time learning appendix of Chapter 2 of the textbook.

Course Learning Outcomes

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At the completion of this course, you should be able to:

a) Describe the basic concepts in the national accounting system
b) Differentiate real variables from nominal variables, by identifying the role of inflation that
arises from money
c) Explain the relationship between the price level, output, and unemployment by comparing
equilibrium in aggregate demand-supply with equilibrium in specific good market
d) Discuss both long-run and short-run impacts of fiscal and monetary policies by outlining the
difference between long-run economic growth and short run economic fluctuations


Homework

We will use Sapling Learning Online Homework for the homeworks. Homeworks cannot be
made up, but your three lowest homework scores will be dropped. If you fail to submit
homeworks on the due date, you automatically get 0 points. Homework assignments will be
available online in Sapling Learning.

Quizzes

There will be a self-text quiz in the EconPortal per chapter. There will be NO make-up quizzes
in any cases, but your three lowest quiz scores will be dropped. If you fail to take a quiz, you
automatically get 0 points.


Exams

There will be two midterms and one final exams. The midterm cannot be made up except in the
case of a documented medical emergency. There is NO late make-up final.

First midterm: 10/03
Second midterm: 11/07
Final: 12/14



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Grading
Letter grades will be based on the following scale:

A 90 C 60-64.99
A- 85-89.99 C- 55-59.99
B+ 80-84.99 D+ 50-54.99
B 75-79.99 D 45-49.99
B- 70-74.99 D- 40-44.99
C+ 65-69.99 F <40
Your final grade will be weighted in the following way:
2 Midterm exams 40% (20% each)
1 Final exam 30%
Quizzes (lowest three will be dropped) 15%
Homeworks (lowest three will be dropped) 15%


Academic Dishonesty Plagiarism and Cheating
Academic misbehavior means any activity that tends to compromise the academic integrity of
the institution or subvert the education process. All forms of academic misbehavior are
prohibited at Wayne State University, as outlined in the Student Code of Conduct
(http://doso.wayne.edu/codeofconduct.pdf). Students who commit or assist in committing
dishonest acts are subject to downgrading (to a failing grade for the test, paper, or other course-
related activity in question, or for the entire course) and/or additional sanctions as described in
the Student Code of Conduct.
Cheating: Intentionally using or attempting to use, or intentionally providing or
attempting to provide, unauthorized materials, information or assistance in any academic
exercise. Examples include: (a) copying from another students test paper; (b) allowing
another student to copy from a test paper; (c) using unauthorized material such as a
"cheat sheet" during an exam.

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Fabrication: Intentional and unauthorized falsification of any information or citation.
Examples include: (a) citation of information not taken from the source indicated; (b)
listing sources in a bibliography not used in a research paper.

Plagiarism: To take and use anothers words or ideas as ones own. Examples include: (a)
failure to use appropriate referencing when using the words or ideas of other persons; (b)
altering the language, paraphrasing, omitting, rearranging, or forming new combinations
of words in an attempt to make the thoughts of another appear as your own.

Other forms of academic misbehavior include, but are not limited to: (a) unauthorized use
of resources, or any attempt to limit another students access to educational resources, or
any attempt to alter equipment so as to lead to an incorrect answer for subsequent users;
(b) enlisting the assistance of a substitute in the taking of examinations; (c) violating
course rules as defined in the course syllabus or other written information provided to the
student; (d) selling, buying or stealing all or part of an un-administered test or answers to
the test; (e) changing or altering a grade on a test or other academic grade records.

Course Drops and Withdrawals
In the first two weeks of the (full) term, students can drop this class and receive 100% tuition and
course fee cancellation. After the end of the second week there is no tuition or fee cancellation.
Students who wish to withdraw from the class can initiate a withdrawal request on Pipeline. You
will receive a transcript notation of WP (passing), WF (failing), or WN (no graded work) at the
time of withdrawal. No withdrawals can be initiated after the end of the tenth week. Students
enrolled in the 10th week and beyond will receive a grade. Because withdrawing from courses
may have negative academic and financial consequences, students considering course
withdrawal should make sure they fully understand all the consequences before taking this step.
More information on this can be found at: http://reg.wayne.edu/pdf-policies/students.pdf

Student services
The Academic Success Center (1600 Undergraduate Library) assists students with
content in select courses and in strengthening study skills. Visit www.success.wayne.edu
for schedules and information on study skills workshops, tutoring and supplemental
instruction (primarily in 1000 and 2000 level courses).
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The Writing Center is located on the 2nd floor of the Undergraduate Library and provides
individual tutoring consultations free of charge. Visit http://www.clas.wayne.edu/writing/
to obtain information on tutors, appointments, and the type of help they can provide.

Student Disabilities Services
If you have a documented disability that requires accommodations, you will need to register with
Student Disability Services for coordination of your academic accommodations. The Student
Disability Services (SDS) office is located in the Adamancy Undergraduate Library. The SDS
telephone number is 313-577-1851 or 313-202-4216 (Videophone for deaf/hearing impaired
students). Student Disability Services' mission is to assist the university in creating an accessible
community where students with disabilities have an equal opportunity to fully participate in their
educational experience at Wayne State University. Once you have your accommodations in
place, I will be glad to meet with you privately during my office hours or at another agreed upon
time to discuss your needs.
Students who are registered with Student Disability Services and who are eligible for alternate
testing accommodations such as extended test time and/or a distraction-reduced environment
should present the required test permit to the professor at least one week in advance of the final
exam. Federal law requires that a student registered with SDS is entitled to the reasonable
accommodations specified in the students accommodation letter, which might include allowing
the student to take the final exam on a day different than the rest of the class.


Course Structure
The course consists of thirteen chapters (excluding the Appendix of Chapter 2) as listed in
Tentative Class Schedule. I will post the lectures notes in the BlackBoard/ EconPortal on every
Monday. Quiz and homework will be posted on every Wednesday. And I will send you an email
to remind you before every quiz, homework and exam.

Tentative Course Outline:

Part III Introduction to Macroeconomics
Chapter 2-- Graphs
Chapter 6 Macroeconomics: The Big Picture
Chapter 7 GDP and CPI
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Chapter 8 Unemployment and Inflation

Part IV Long Run Economic Growth
Chapter 9 Long Run Economic Growth
Chapter10 Saving, Spending and the Financial System

Part V Short Run Economic Fluctuations
Chapter 11 Income and Expenditure
Chapter 12 Aggregate Demand and Supply

Part VI Stabilization Policy
Chapter 13 Fiscal Policy
Chapter 14 Money, Banking, and the Federal Reserve System
Chapter 15 Monetary Policy
Chapter 16 Inflation, Disinflation, and Deflation
Chapter 17 Crisis and Consequences


This syllabus is subject to further revision(s).

Instructions for EconPortal and SaplingLearning
a) Temporary access for EconPortal:

You will have 21 days of FREE access to both EconPortal & SaplingLearning. The 21 day
temporary access code for EconPortal is 7v6- iki-e9fwjyb2.

For registering the course go to: http://www.courses.bfwpub.com/krugmanwellsmacro3.php.
For help registering for the course go to the student user guide -
http://courses.bfwpub.com/help/krugmanwells macro3/Student/QuickStarts/krugmanwells macro3_UserGuide.pdf

Additional information regarding EconPortal temporary access
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1. You must wait until temporary access has expired before re-register with the code you
purchased from their bookstore. Your access code is included in the package you
purchased at the bookstore
2. Finally, to ensure you dont lose their work, you must re-register or purchase online using
the same username and password you used to create their temporary accounts.
3. The eBook is in the EconPortal

b) Temporary access for Sapling:

1. Go to http://saplinglearning.com and click on your country at the top right.
2a. If you already have a Sapling Learning account, log in and skip to step 3.
2b. If you have a Facebook account, you can use it to quickly create a Sapling Learning account.
Click Create an Account, then Create my account through Facebook. You will be prompted
to log into Facebook if you aren' t already. Choose a username and password, then click Link
Account. You can then skip to step 3.
2c. Otherwise, click "Create an Account". Supply the requested information and click "Create
My Account". Check your email (and spam filter) for a message from Sapling Learning and click
on the link provided in that email.
3. Find your course in the list (you may need to expand the subject and term categories) and click
the link.
4. If your course requires a key code, you will be prompted to enter it.
5. If your course requires payment, select a payment option and following the remaining
instructions.