HONORS SECTION

ECO 2013

PRINCIPLES OF MACROECONOMICS

FALL 2010

 

 

Prof. Mark Isaac

644-7081

265 Bellamy Building

misaac@mailer.fsu.edu

http://mailer.fsu.edu/~misaac

    (see 2nd class listed)

 

Office Hours: 2-3:15 M,W and by appointment.

 

GENERAL: This is the honors section of Econ 2013, our Principles of Macroeconomics course. The goal of this course is to introduce students (who have signaled a desire to approach the subject at both a rigorous level and at an extended depth of interest) the concepts of aggregate economic activity and the core theories of real business and monetary fluctuations (recessions, booms, inflation, deflation, and so forth). The course is not in any way restricted to economics major; in fact, in incorporates several assignments that inquire into the reflection of macroeconomic policy in culture, literature, even film. The same book will­ be used by other sections, but we will cover some material that is more­ sophisticated. Most importantly, the course will have an honors pace, an honors sense of maturity, an­ honors level of classroom etiquette, an honors sense of interest in the topic, and honors expectations of performance.­ If you are expecting a traditional principles of economics course but augmented by a faster pace, harder questions, or more math, then this course may not be for you. I will lecture as though students have read the assigned material and are­ familiar with the basic framework of the chapter. Regular attendance will be­ especially critical, but as you are adults in an honors section, I will not­ take roll and you do not owe me an explanation if you are absent. Finally, an­ honors course such as this thrives on active student participation and­ evidence of curiosity, both abstract and about how the world really operates.

 

TEXTBOOK: Macroeconomics: Private and Public Choice by Gwartney, Stroup, Sobel, MacPherson. You should be purchasing the “combined” package with Aplia and the on-line version of the text, with the dead-tree version as an option. Class code is D3XB-AEYS-24C6   . The login to begin the process is to go to http://login.cengagebrain.com  .If you must buy your books through the bookstore for scholarship reasons, purchase the Aplia macro-split-pack for Gwartney, et al.

 

COURSE GRADE WEIGHTING:

 

3 EXAMS x 100 pts. each = 300 pts. total

QUIZZES = 100 pts. total

MISC. LAB SESSIONS, PUZZLES, PROJECTS, INTERNET INVESTIGATIONS, etc. = minimum of 100 pts. total (more points may be offered). Some will be announced well in advance. Others will not. You may do as many as you want, or not (see below). One of the projects will be late in the course and you will have a choice (you may not do both). One of the options will be to face a supplemental “CRAM” set of questions on the final exam (CRAM was a game show on GSN where “I give you the material and you stay up all night studying”). The basis for the CRAM questions will be all of the special topic chapters at the end of the textbook. Your second option will be a final term paper (about 10 pages double-spaced) on a macroeconomic policy issue or problem in another country, due on the last day of class (including review sessions, if applicable).

 

COURSE GRADE REQUIREMENTS: These are my tentative grade distributions:

 

A = 450-500 pts.

B = 385-449 pts.

C = 300-384 pts.

D = 250-299 pts.

E = <250 pts.

 

FINAL EXAMINATION:  We will not participate in the block final.  My reading of the schedule is that means that our scheduled time is Monday 5:30-7:30 (under Main Campus MWF classes at 3:35). Please double check this for yourself and let me know if I’ve gotten this wrong.

 

COURSE EXAM POLICIES: I do not give make-up mid-term exams or make-up quizzes. If you miss midterm exam, you must contact me as soon as feasible and provide me with a­ written, signed explanation of your absence. Reasons of illness, family­ emergencies, and similar unavoidable problems are almost always acceptable and you do NOT need to provide me with documentation. Your exam grade will­ be reweighted between the other midterm and the final. You may not be­ exempted from both midterms.

 

There are no exemptions from the final exam. Make-ups will be given only in­ cases of dire personal emergency: death, emergency heart transplants, jail terms, etc., or for students who fully meet the university’s “overload” requirement. "Supersaver" airline reservations do not fall into this­ category. Reread this paragraph.

 

I have scheduled seven quizzes, but we might end up with six or eight. In any event, your quiz score will consist of your five highest quiz grades. There­ are no exemptions or make-ups on quizzes. If you miss a quiz, you may simply count it as one of your "dropped" quizzes. Along this line, quizzes will typically be announced with only one class days notice, and I reserve the right to have a pop quiz or two (or none).

 

EXAM GRADES: On either quizzes or exams, I have a priority system for­ students to seek correction of a grade. First, I am ALWAYS prepared to­ discuss your answers during office hours. If I have done incorrect addition to your detriment, PLEASE bring this to my attention. If you believe that I­ have overlooked an obviously correct answer, please ask me to look at the­ disputed segment. I discourage quibbling over partial credit. On average, I­ believe I make as many stretches favoring students as penalizing them. Therefore, if someone insists on pressing such an issue, I reserve the right­ to regrade the entire exam. The net result may be a grade that goes down­ instead of up.

 

HOMEWORK: I will frequently assign homework either from the questions in the book or on­ handouts from me. Homework is voluntary, but I will always set aside time in­ class to go over the more difficult problems.

 

YOUR ATTENDANCE: I do not take attendance. You are adults and are capable of making your own decision about attending class. I realize that people get sick and have job interviews; you are not required to engage in documentation.  Having said this, the most important components of this course take place in the classroom, and that is reflected on all exams. In addition, one thing that really ticks me off is wandering in and out of class. If you must be late, please cause as little disruption as possible. If you have an early appointment, please inform me and sit near the door.

 

MY ATTENDANCE: You deserve the same respect from me. Part of my responsibility as a Professor at Florida State University involves occasional attendance at academic conferences which overlap with the normal class schedule. I attempt to make these overlaps as harmless as possible to the course (using guest lectures or additionally provided review times). I will provide you shortly with my anticipated schedule for the semester. If I should ever be so sick as to not be able to teach, I will do everything possible to have that posted in class before the class begins.

 

HONOR CODE: Students are expected to uphold the Academic Honor Code published in the Florida State University Bulletin and the Student Handbook.

 

SPECIAL NOTE: Students entitled to special academic accommodations are encouraged to come to my office and present a letter from the Student Disability Resource Center describing the nature of the accommodations required.

 

FINAL NOTE: Anyone who answers or places a (non-emergency) cell phone call, or sends or reads any text message, picture, stock report, fantasy football update, or anything similar in the classroom during class will lose two points on the next subsequent exam. If  you are expecting a “life or death” page or phone call, please let me know before class starts and try to sit as close to the doors as possible. In addition, my default rule is that laptops are not to be active during class. If you have a certified accommodation requirement for a laptop, please see me.

 

 

 TENTATIVE CLASS SCHEDULE


FALL 2010 **SP8/30 [CRAM or Paper]

 

M. Aug. 23: Welcome and administrative details **SP1/10 [Macro Matters]

 

W. Aug. 25: Chapter 1 (The Economic Approach) and Chapter 2 (Tools)  

 

M. August 30: Chapter 2 Cont’d (Quiz #1/1 & 2) (Special Project 1 due)

 

W  Sept. 1: Special Project 2 (whole class)/5 [Markets]

 

M. Sept. 6: Labor Day, No Classes

 

W. Sept. 8: Chapter 3 (Market Supply and Demand)

 

M. Sept. 13: Chapter 4 (Consumer Demand) & Chapter 5 (Role of Government) (Quiz #2/ 3 & 4)

 

W. Sept. 15: Chapter 6 (Collective Decisionmaking)

 

M. Sept. 20: Spillover and Review for First Exam **SP3/15 [Micro Clip]

 

W. Sept. 22: FIRST MIDTERM EXAM

 

M. Sept. 27 : SPECIAL PROJECT 4 SET-UP/10 [Second Market]

 

W. Sept. 29: Chapter 7 (Measuring a Nation’s Economic Well Being) (Special Project 3 due)

 

M. Oct. 4:  Chapter 8 (Economic Fluctuations, Unemployment, and Inflation)

 

W. Oct. 6: Chapter 9 Basic Macroeconomic Aggregates) (Quiz # 3/7 & 8 )

 

M. Oct. 11: Chapter 9 (Cont’d) & Chapter 10 (Macro Models)

 

W. Oct 13: Chapter 10 (Macro Models) (Quiz #4/9 & Models) **SP5/10 [Famous Economists]

 

M Oct. 18: Spillover and Review for Second Midterm (Special Project 5 due)

 

W. Oct. 20: SECOND MIDTERM EXAM (Chapters 7-10 and related)

 

M. Oct. 25: Chapter 11 (The Great Depression, Classical Theories and Keynes) (Special Project 4 due)

 

W. Oct 27: Chapter 12 (Keynes and Fiscal Policy)

 

M. Nov. 1:  Chapter 13 (Money & Banking) (Quiz #5/ 11 & 12)

 

W. Nov. 3:  Chapter 13 Monetary Policy & Monetarism

 

M. Nov. 8: Chapter 14 A Brief Review of the Sub-Prime Mortgage Crisis

 

W. Nov. 10:  Chapter 15 (Stabilization Policy & Model Comparison) (Quiz  #6/ 13 & 14) **SP6/10 [Money Matters]

 

M. Nov. 15:  Chapter 16 (Economic Growth) **SP7/15 [Macro Clip] (Special Project 6 due)

 

W. Nov. 17: Chapter 17 (International Trade)

 

M. Nov 22 : Movie About the Great Depression

 

 

W.  Nov. 24:  Movie About the Great Depression, Help on Projects, Review

 

M.  Nov. 29 : Chapter 18 (International Monetary Policy) (Quiz #7/15 & 16) (Special Project 7 due)

 

W. Dec.1: Chapter 18 (Balance of Payments) + catch-up/review for final.

FINAL EXAM: Will cover chapters 11-18 (Special Project 8 due).