The study of macroeconomics involves issues affecting the economy as a whole (economy-wide). During this course students will develop a clear understanding of the essential analytical and conceptual tools used in economics for understanding and explaining economic phenomena such as unemployment, gross domestic product, inflation, economic growth and development, and trade. This course makes an emphasis on the importance of describing the effects of various economic policies over different time horizons; this means that we will analyze and describe both the short run and long run effects of stabilization policy, economic growth, and government debt among others.
This course will focus on three major areas: the operation of the domestic economy at the macro level, economic performance and growth over time, and interactions between economies. The primary objective will be to develop an understanding of the operation of the economy and its interaction with the fiscal, monetary, and trade policy decisions made by governments.
Econ 105 (Introductory Macroeconomics) and 106 (Introductory Microeconomics) or equivalent or permission of the instructor are required. Macroeconomics rests on microeconomic foundations and the same kind of economic reasoning is fundamental in both macro and micro. You will be at a disadvantage if you do not have both introductory micro and macro before taking this course. You will also be expected to have a working familiarity with college-level algebra and geometry equivalent to Math 150 (Pre-Calculus); graphical and mathematical models will be the basic tools used to understand and describe the economy. Pre-calculus is recommended; some familiarity with calculus (equivalent to Math 180 or better) will be advantageous but is not required.
The website for this class hosts the latest version of the syllabus and course schedule, reading assignments, homework problem sets, and other information. Please check the website regularly for announcements and postings regarding readings and assignments.
Qualified students with disabilities needing appropriate academic adjustments should contact Accessibility Services (277-3506) as soon as possible to ensure their needs are met in a timely manner.
Turn off or silence all cell phones, laptops, and other electronic devices when in the classroom. Barring special needs, violators may be immediately expelled from that class session. Calculators are the exception and you are encouraged to bring one to class.
Your progress in this course will be graded with four problem sets, two examinations, and a semester-long project culminating in a final paper and presentation. Each problem set and each exam will contribute 10% to your grade. Exams will include multiple choice questions, graphical and mathematical problems, and written short answer/essays. The semester project will consist of an ongoing data-collection assignment and final presentation, each worth 10% of your grade, and a paper worth 20% of your final grade.
Grading is fractional:
|90-92 A-||93-96 A||97-100 A+|
|80-82 B-||83-86 B||87-89 B+|
|70-72 C-||73-76 C||77-79 C+|
|60-62 D-||63-66 D||67-69 D+|
|less than 60 F|
If you decide to drop the class, be mindful of the important dates listed on the schedule. Note that you need to actually be passing the class (C or better) when you drop to receive a WP for the course.
All assignments are due at class time on the dates specified on the schedule, giving you ample time to make arrangements to turn in assignments early if you have to miss class for some reason. Assignments may also be submitted via email. Notify me before-hand if you will not be able to attend a scheduled exam and we'll make other arrangements. A note from a dean or physician is required in the case of illness or other incapacitating condition.
You will choose one country of interest (other than the U.S.) and study its macroeconomic policies and performance over the course of the semester. You will be tasked with collecting macroeconomic data about your country and writing and presenting a paper with an in-depth economic analysis of some specific macroeconomic policy issue. Additional information on the semester project will be posted on the course website.
Cheating constitutes a serious offense and will be punished by a failing grade for the course. For more information you are referred to rules and regulations at UNM Student Code of Conduct pathfinder at http://dos.unm.edu/student-conduct/academic-integrityhonesty.html.