ECON 3080-001 Intermediate Macroeconomic Theory

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ECON 3080-001 Intermediate Macroeconomic Theory
ECON 3080-001 Intermediate Macroeconomic Theory
Spring 2012
Course Information
Jieun Chang
MWF 10:00-10:50 am in MUEN E431
[email protected]
This is the best way to contact me, if you did not get a reply within 24 hours
please assume that I didn’t get your e-mail and resend it.
ECON 307
Office hours:
Mon and Wed 11:00 am-12:00 pm
Course Website
Important announcements, grades, and assignments are posted on this webpage
Required Reading Material
N. Gregory Mankiw, Macroeconomics, Seventh Edition (Worth Publishers, 2010). There is a study guide
available to accompany the textbook. You may wish to purchase the study guide if you would like extra
practice solving problems. But doing so is not required.
Course Objectives
Macroeconomics is concerned with broad, economy-wide aggregates, such as the level of production,
employment, unemployment, the general level of prices, and the distribution of income. We will
study how economists model the relationships between aggregate economic variables and examine
how various fiscal and monetary policies can affect the results. The primary goal of this course will
be to improve your economic literacy and ability to apply economic models to analyze current events.
To facilitate this, a portion of the course will focus on reading articles with economic relevance for
class discussion.
The prerequisites for this course are
Economics Prerequisites: ECON 1000 or 2020
Mathematics Prerequisites: ECON 1078 & 1088 or MATH 1300 or MATH 1310 or
MATH 1081 or MATH 1080, 1090 and 1100 or APPM 1350 or
The models covered in this course require calculus. It is assumed that every student has a working
knowledge of calculus, and there will be no formal review of calculus techniques. As such, the
mathematics prerequisites will be strictly enforced.
Course Structure
There are five components to the course: lectures, readings, problem sets, article analysis, and exams.
The lectures will follow the readings in terms of topics covered. However, there may be some material
covered in lecture that will not be covered by the readings, and there most certainly will be some material
in the readings not covered in the lecture. Try to select a regular seat in class so it is easier for me to get
to know you. Although there is no grade for attendance, attendance and class participation will be duly
noted. To receive a passing grade, you are required to attend a minimum of 80 percent of the lectures.
A sign-in sheet will be circulated during each class, and it is your responsibility to make sure that you
have signed in by the end of each class. Students should read the assigned chapters prior to lectures,
review notes after lectures, complete problem sets and article analyses and complete at least one mid-term
examination; and one final examination
Problem sets
There will be four problem sets but only the best three will count toward your grade. Problem set grades
will reflect your effort and correctness. There is a high, positive correlation between problem set scores
and exam scores. Feel free to form study groups to review and discuss lecture/reading material,
homework questions, article analysis, etc., but you must submit individual work for grading. Problem
sets must be received by the beginning of the class period on the day it is due. A scale of 1-4 is used:
very good scores 4 point and acceptable quality scores 1 point.
Article Analysis
We will be analyzing five articles and the best four will count will count toward your trade. I will give a
number of questions to consider for each article. Write a summary of the articles and answer the
questions in paragraph form. Include a second page of relevant graphs if needed. The article analysis
must be a page typed, double spaced, 12 point Times New Roman font, with 1 inch margins to receive
credit. Article analysis must be received by the beginning of the class period on the day it is due. Emailed articles will not be accepted. A scale of 1-3 is used: very good scores 3 point and acceptable
quality scores 1 point.
There will be two midterm exams and one final exam. The exams will take place during regular class
time in the regular class room on the dates listed below. They will be a combination of multiple-choice
questions and short answer questions. You’ll probably also want to bring a calculator (no cell phone
calculators or any calculators capable of storing information i.e. graphing calculators). Exam
questions will be based on material covered in lecture and the problem sets. I’ll talk more about each
exam as the exam date approaches.
Make-ups for any exam are allowed only under compelling circumstances. Under such a compelling
circumstance, you are almost always required to make prior arrangements before the exam. A make-up
exam will be administered prior to the actual exam date. And no late exam will be provided past the exam
Note: If you have three or more final exams on the same day and econ 3080-001 is your last final exam
scheduled on that day, you are entitled to arrange an alternative exam time. To reschedule your final exam
time, you must make arrangements no later than Friday, April 6.
Grading System
Grades will be based upon four problem sets, five article analyses, two mid-semester exams and a final
exam. I will calculate your course grade as the largest number arising from the following alternative
calculated scores:
Score 1: 25%(Midterm 1) + 25%(Midterm 2) + 30%(Final) + 15%(Problem Sets) + 5%(Aritcle analysis)
Score 2: 30% (Midterm 1) + 50% (Final) + 15%(Problem Sets) + 5%(Aritcle analysis)
Score 3: 30% (Midterm 1) + 50% (Final) + 15%(Problem Sets) + 5%(Aritcle analysis)
Grading Scale
Your Score
Your Score
63 - 66%
60 - 62%
≤ 59%
Tentative Course Schedule
Week of
Jan 16
Jan 23
Jan 30
Feb 6
Feb 13
Feb 20
Feb 27
Mar 5
Mar 12
Mar 19
Mar 26
Apr 2
Apr 9
Apr 16
Apr 23
Apr 30
May 7
Part I: The Basics
The Science of Macroeconomics
The Data of Macroeconomics
Part II: Classical Theory
National Income
Money and Inflation
The Open Economy
Part III: Growth Theory
Economic Growth I
Economic Growth II
Part IV: Business Cycle Theory
Introduction to economic fluctuations
Aggregate Demand I
Aggregate Demand I, II
Spring Break
The Open Economy Revisited
Aggregate Supply and AD-AS
Part V: Macroeconomic Policy
Stabilization Theory and Buget Deficits
Final exam data to be announced
Assignments/ Exams
Ch 1
Ch 2
Ch 3
Ch 4
Ch 5
Ch 6
Ch 1-6
Article 1 (Fri, Jan 27)
Ch 7
Ch 8
Article 3 (Fri, Mar 2)
Problem set 2 (Fri, Mar 9)
Ch 9
Ch 10-11
Article 4 (Wed, Mar 21)
Ch 12
Ch 7-12
Ch 13-14
Problem set 3 (Fri, Apr 6)
Midterm II (Fri, Apr 13)
Article 5 (Fri, Apr 20)
Ch 15-16
Ch 13-16
Problem set 4 (Fri, Apr 27)
Problem set 1 (Fri, Feb 10)
Article 2 (Fri, Feb 17)
Midterm 1 (Fri, Feb 24)
University Policies
Students with Disabilities
If you qualify for accommodations because of a disability, please submit to me a letter from Disability
Services in a timely manner so that your needs may be addressed. Disability Services determines
accommodations based on documented disabilities. Contact: 303-492-8671, Willard 322, and
Religious Observances
Campus policy regarding religious observances requires that faculty make every effort to reasonably and
fairly deal with all students who, because of religious obligations, have conflicts with scheduled exams,
assignments, or required attendance. If you have a conflict due to a religious obligation, please see me at
least one full week in advance so that alternate arrangements can be made. Policies regarding religious
practice are available at www.colorado.edu/policies/fac_relig.html.
Classroom Behavior
Students and faculty each have responsibility for maintaining an appropriate learning environment.
Students who fail to adhere to such behavioral standards may be subject to discipline. Faculty has the
professional responsibility to treat all students with understanding, dignity and respect, to guide classroom
discussion and to set reasonable limits on the manner in which they and their students express opinions.
Professional courtesy and sensitivity are especially important with respect to individuals and topics
dealing with differences of race, culture, religion, politics, sexual orientation, gender variance, and
nationalities. Class rosters are provided to the instructor with the student's legal name. I will gladly honor
your request to address you by an alternate name or gender pronoun. Please advise me of this preference
early in the semester so that I may make appropriate changes to my records. Polices regarding classroom
Discrimination and Harassment
The University of Colorado Policy on Sexual Harassment and the University of Colorado Policy on
Amorous Relationships applies to all students, staff, and faculty. Any student, staff or faculty member
who believes s/he has been the subject of discrimination or harassment based upon race, color, national
origin, sex, age, disability, religion, sexual orientation, or veteran status should contact the Office of
Discrimination and Harassment (ODH) at (303) 492 2127 or the Office of Judicial Affairs at (303) 492
5550. Information about the ODH and the campus resources available to assist individuals regarding
discrimination or harassment can be obtained at http://www.colorado.edu/odh.
Academic Misconduct
All students of the University of Colorado at Boulder are responsible for knowing and adhering to the
academic integrity policy of this institution. Violations of this policy may include cheating, plagiarism,
aid of academic dishonesty, fabrication, lying, bribery, and threatening behavior. All incidents of
academic misconduct shall be reported to the Honor Code Council ([email protected], (303) 725
2273). Students who are found to be in violation of the academic integrity policy will be subject to both
academic sanctions from the faculty member and non-academic sanctions (including but not limited to
university probation, suspension, or expulsion). Other information on the Honor Code can be found at
www.colorado.edu/policies/honor.html and at www.colorado.edu/academics/honorcode.
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