ECON 203
PRINCIPLES OF MACROECONOMICS

Course Policies

Course Outline

COURSE POLICIES

CONTACT INFORMATION:
Dr. Brian Goff (Grise 414/745-3855)
Office Hours: 9-11 MW
(I am in my office or on campus most days from around 9-5 except 12:00-1:15;  Feel free to stop by or make an appointment any time I'm around)

OBJECTIVE: The course is designed to provide an understanding of economic forces, outcomes, and decisions at the national and international levels with special attention to topics such as the costs and benefits of markets and trade, economic growth, measurement of national income, the nature and role of monetary and fiscal policy, business cycle models, and other topics.    The discussion of these concepts, ideas, and policy issues draws attention to ethical issues, problem solving & critical thinking, global issues, and basic business functions.  Special Note:  This course fulfills one requirement for General Education category C -- Social and Behavioral Sciences.

TEXTS/MATERIALS:
Online Readings
WKU Blackboard

GRADES: Your final grade is based on your final average: A=90+ B=80-89 C=70-79 D=60-69 F<60. Do not expect to "negotiate" or do "extra credit" work for a higher grade
BB Reading Quizzes (12)       =  40%    (Drop lowest score)        
Semester Tests (4)                 =  40%    (Drop lowest score)
Final Exam                             =  20%
Total                                     = 100%

Quizzes:   NO makeup or early quizzes will be given.  Your lowest quiz score will be dropped.  If you miss more than  one quiz due to a signficicant event (illness, WKU activity, family matters, ...), your final exam will be weighted to compensate.  You should clear missed quizzes (above one) with me in advance if possible or as soon as practical if not known in advance.  

Final Exam: The final exam key questions from all of the semester quizzes as well as the material from the last section of the class. 

MISCELLANEOUS & CLASSROOM POLICIES: Last day to drop with a "W" or change to audit is listed in Course Bulletin. If you have an ADA covered disability requiring special consideration, please register with the ADA Compliance Office, and then see me.  If class is canceled unexpectedly, any exam will roll back to the next class meeting.

Classroom Policies: Orderly behavior and respect for others who are speaking (including me) is expected. No food or drink permitted. No cell phone or  personal computer use is permitted.  If late, please enter with a minimum of disturbance and be seated in the nearest seat. Distracting or inappropriate behavior  is not permitted. Individuals involved in incidents that significantly violate these policies will receive a warning and then will be notified of a letter grade reduction per subsequent incident.  Also see FAQ

COURSE OUTLINE (Subject to small modifications along the way)

Supplemental Links Weeks 1-3:
 Economist Big Mac Website  ;  Excel File w/Gas Prices  Sears Catalogue Data
  Economic Protectionism & Comparative Advantage (Dallas Fed) ;

[Section II (Weeks 4-5) Long Run Economic Growth, Living Standards, and Sustainability]
Key Terms:  Economic Growth; GDP per Capita; Sustainable Development

Week 6 (Oct 4)
T: Test 2 
Th:  FALL BREAK

Week 8 (Oct 18)
T: Monetary Policy:  Blackboard Quiz #6 Due on  Depression-Era Banking Crisis (Friedman Text or Video -- don't include panel discussion from either text or video);  Financial Crisis Slides; 
                                                                      B1 Perspective on Crisis; BG Perspective  2   (BG 2 scaled down****) 
Th:  Business Cycles: Business Cycles (CEE) & Financial Crisis of 2008:   Economic Crisis in Iceland, England, & U.S (STL Fed);  

Week 9 (Oct 25)
T: Government Spending:  Blackboard Quiz #7  Due on Varian on Stimulus (WSJ) 
                                            Infrastructure Debate (STL Fed)          

Week 10 (Nov 1) 
T: Long Run Issues;  Blackboard Quiz #8 Due on  Debt/Deficits/Entitlements (STL Fed)
Th:   Immigration & Macroeconomics (Phil Fed)

Week 12 (Nov 15) 
T:  U.S. Income-Wealth Distribution: Blackboard Quiz #10 Due on  Income Inequality (STL Fed)
Th: Test 4

Supplemental Resources:  Health Care Expenditure OECD Data; 

Additional Links:

Russian Highway Problems   

Cross Country Tax Burdens;

Tradeoffs  
Price Gouging (Richmond Fed) 

Anatomy of Oil Price Shock (Clev Fed)

Central Bank Independence & Price Stability (Clev Fed)

PPP in the Long Run (Clev Fed)

Stable Prices, Stable Economy (StL Fed)

Brief Report Example

Guide for Preparing Brief Reports
The Brief Reports must PRECISELY adhere to the following format unless otherwise indicated (such as the Map excercise).  You will receive full for reports that adhere to the instructions in all details.  Half credit will be given for reports that deviate from the instructions in minor ways.  No credit will be given for reports that deviate from the instructions in significant ways. 
1. Rports must be neatly typed or printed originals (NO SCRIPT -- "cursive") -- no crumpled papers.
2. All sentences must use standard American English -- subject, verb, object (when needed), correct punctuation, aggreement of subject and verbs, and so on. 
3. Do not share information with others in the class about your reports.  Reports that appear to be copies or very close to copies will receive no credit.
4. Reports must be turned in by the deadline to receive any credit. You are encouraged to turn them in early if you may be absent. Unexpected circumstances the day they are due do not alter the deadline.
5. Reports  must adhere to the template below. Reports that deviate from its format will receive no credit. (Text which is in italics below is for you to fill in and not for you to copy on the summary. For example, do not write "paragraph 1".)

Your Name
Brief Reports #(put report # here)
(Put Titlle Here -- can be shortened title;  Also put source here) 

Paragraph #1: 1-2 sentences explaining the main question, issue, or problem addressed in the readings

Paragraph #2: 2-6 sentences explaining a key point(s) from the readings.

Paragraph #3:1-2 sentences describing a particular point which was especially important  to you, with which you disagree, or which was unclear.