SYLLABUS
BADM 201 PRINCIPLES OF MACROECONOMICS
THE CITADEL
Fall 2004
MONDAY, WEDNESDAY, AND FRIDAY: 9:00 , 10:00, 11:00
INSTRUCTOR: W. William Woolsey
OFFICE: 273-A Bond Hall
TELEPHONE: 953-5161(O) 795-5062(H)
E-MAIL: Bill.Woolsey@Citadel.Edu
PREREQUISITES: None
OFFICE HOURS: Tuesday 1:30 - 3:30
Thursday 9:30 – 11:00
Or By Appointment
COURSE OBJECTIVES:
1. Students must be able to discuss the "invisible hand" consequences of the market process and illustrate by using equations, spreadsheets and computer diagrams to represent equilibrium prices and quantities and the circular flow of funds through an economy in equilibrium. Students must also be able to explain the inter-relatedness of various markets and illustrate with a series of supply and demand diagrams that trace the effects of a change in some factor through several related markets.
2. Students must be able to discuss the factors that influence the money supply and how changes in the money supply influence interest rates, output, and the price level in the short run and the long run--illustrating the processes with the solutions to problems, spreadsheets, and computer generated diagrams.
3. Students must be able to describe how technology, labor, saving, taxes, and budget deficits influence interest rates, output, and income in the short run and the long run--illustrating the processes with diagrams. Students must be able to analyze some of the ethical implications of the growth process.
4. Students must be able to find macroeconomic statistics on the Internet, import the results into spreadsheets, and manipulate and present the data.
COURSE TEXT: Principles of Macroeconomics: Lecture Summaries
The text and associated powerpoint
presentations are on webct—webct.citadel.edu. Look under course content, and begin with market
concepts. If you cannot access
this course on webct, contact the instructor immediately. (If you email your cit number, I
should be able to get you on right away.)
EVALUATION:
1. Homework 20%
2. Individual Essay/Project 15%
4. Exams (4) 40% (10% each)
5. Cumulative Final Exam 20%
6. webct Discussion 5%
GRADING SCALE:
90 - 100 A
80 - 89 B
70 - 79 C
60 - 69 D
59 and below F
ASSIGNMENTS:
1. Homework is an important part of this course. All homework assignments will be graded! Group work is not acceptable. Copying all or part of any assignment (including copying answer sheets) is an honor violation. Very similar problems and diagrams will be required on exams. Any homework assignment with multiple sheets must be stapled. Fold homework vertically. Put your name and class time on the top front and on the outside.
2. The individual essay/project can involve problems, spreadsheets, and computer-generated diagrams, but it will always involve descriptions of processes. The descriptions must be prepared using a word processor. While content is most important, spelling and grammar count. Group work is not acceptable. Copying all or part of the project is an honor violation. The specifics of the assignment will be provided on a handout.
3. Students must complete four in-class exams (10% each) and a cumulative final exam (20%). There will be essay questions on the concepts and processes discussed in the class lectures. There will be problems and diagrams similar to the homework assignments. Use your own paper. Bring a calculator. Exams should be folded vertically with your name on the top front and on the outside.
4. The discussion portion of the grade (5%) requires participation on the webct discussion list for the class. Topics will be posted occasionally. Students can also comment on discussion questions from the study guide. Students must reply with comments or criticisms. Replies to other students' replies are especially appropriate. The responses should be timely. Webct is located at webct.citadel.edu.
5. Numeric grades are assigned for all assignments on a 100 point scale. No particular assignment is every "curved." There will be no curve at mid-term. It is possible, however, that the final grades for the course will be "curved."
COURSE SCHEDULE:
|
Date |
Topics |
Number |
|
|
Aug |
25 |
Economics as Social Science |
1 |
|
Aug |
27 |
Goals and Resources |
2 |
|
Aug |
30 |
Scarcity |
3 |
|
Sep |
1 |
Property Rights |
4 |
|
Sep |
3 |
Laws of Demand and
Supply |
5 |
|
Sep |
6 |
Equilibrium Price and
Quantity |
6 |
|
Sep |
8 |
Circular Flow |
7 |
|
Sep |
10 |
Equilibrium in Excel |
8 |
|
Sep |
13 |
Price Controls |
9 |
|
Sep |
15 |
Changes in Supply and
Demand |
10 |
|
Sep |
17 |
Exam 1 |
|
|
Sep |
20 |
Factors Relating to Supply
and Demand |
11 |
|
Sep |
22 |
Income and Output |
12 |
|
Sep |
24 |
Economic Statistics on the
Web |
13 |
|
Sep |
27 |
Potential Income and
Unemployment |
14 |
|
Sep |
29 |
Investment |
15 |
|
Oct |
1 |
Saving |
16 |
|
Oct |
4 |
Exam 2 |
|
|
Oct |
6 |
The Natural Interest Rate |
17 |
|
Oct |
8 |
Circular Flow |
18 |
|
Oct |
11 |
The Business Cycle |
19 |
|
Oct |
13 |
The Price Level and
Inflation |
20 |
|
Oct |
14 |
Money and Banking |
21 |
|
Oct |
18 |
Money Creation by
Banks |
22 |
|
Oct |
20 |
The Federal Reserve |
23 |
|
Oct |
22 |
The Fed and the Money
Supply |
24 |
|
Oct |
25 |
Exam 3 |
|
|
Oct |
27 |
Money Demand |
25 |
|
Oct |
29 |
Monetary Equilibrium--Very
Short Run |
26 |
|
Nov |
1 |
Monetary Equilibrium--Short
Run |
27 |
|
Nov |
3 |
Monetary Equilibrium--Long
Run |
28 |
|
Nov |
5 |
Money in Excel |
29 |
|
Nov |
8 |
Inflation and the Money
Supply |
30 |
|
Nov |
10 |
Exam 4 |
|
|
Nov |
12 |
Phillips Curve |
31 |
|
Nov |
15 |
Stagflation |
32 |
|
Nov |
17 |
Technology |
33 |
|
Nov |
19 |
Labor and Population |
34 |
|
Nov |
29 |
Saving in the Short Run |
35 |
|
Dec |
1 |
Saving in the Long Run |
36 |
|
Dec |
2 |
Taxes in the Long
Run |
37 |
|
Dec |
6 |
Budget Surplus or
Deficit |
38 |
|
Dec |
8 |
Final 8:00 |
|
|
Dec |
11 |
Final 1:00 |
|
|
May |
13 |
Final 8:00 |
|