ECON
203 
PRINCIPLES OF MACRECONOMICS
Course Policies
Course Outline
Guide
for Brief Reports
Spring 2009 Quizzes: 1, 2, 3, 4, 5, 6
(*Note: the class outline changes each
semester, so the make-up
of quizzes will change)
Macro
Data Websites:
BEA Data /CIA
World Fact
Book /Economagic (data)/ Aplia / Penn World
Table /
Dr. Brian Goff/414 Grise Hall
Phone (270)745-3855/brian.goff@wku.edu
Last Modified: April 17, 2009
Western Kentucky University
COURSE POLICIES
CONTACT INFORMATION:
Dr. Brian Goff (Grise 414/745-3855)
Office Hours: 9-11 TTh
(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:
Brief
Principles of Macroeconomics by Mankiw + Aplia
(See Aplia
Student Registration & Payment Instructions)
Aplia Website Access (Including Online Access to Mankiw textbook) = $70
Aplia Access (Online textbook access) + Physical Copy of textbook =
$110 (apx) Once on the Aplia site, you will pay $70 for
access to Aplia and the
online version of the textbook. Then, you have the option of
"upgraded" to a physical copy of the textbook for an additional amount.
Aplia
Course Key: 2E54-VPLH-MM5X
(See Aplia Student
Registration Instructions & Help on Aplia
Website)
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
Bi-Weekly Quizzes (6)
= 50%
(Drop lowest score)
Brief Reports (12)
= 30% (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.
Brief Reports: You will be
responsible for 12 brief reports
on material from readings outside the textbook. These must be turned in at the
beginning
of class on the due date. No late reports will be accepted.
Your lowest grade on the 12 reports will be dropped Each
report summary will receive either credit/no credit.
Deadlines for turning in
the reports are clearly stated. No reports will be accepted
after the deadline -- this includes unexpected, last-minute
problems. Refer to the Guide for Preparing
Brief
Reports for the format of these reports. Reports that do not
adhere to this guide will receive no credit.
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.
Aplia
Assignments:
You
must register with Aplia and
enroll in the course website to gain access to the book.
These
Aplia assignments do not count for a a grade but provide
additional practice
toward quizzes.
Aplia
Course Key: 2E54-VPLH-MM5X
(See Aplia Student
Registration Instructions & Help on Aplia
Website)
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 or report deadline 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 use is permitted. Laptop use may
be restricted. 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)
[Section I
(Weeks 1-3) Markets & Basic Measures]
Week 1
(Begins Jan
26; )
Terms (See Wikipedia): GDP; CPI;
Anatomy
of Oil Price Shock (Clev Fed)
Central
Bank Independence & Price Stability (Clev Fed)
PPP
in the Long Run (Clev Fed)
Primer on
Money, Banking, and Monetary Policy (Dallas Fed)
Stable
Prices, Stable Economy (StL Fed)
Importance of Prices
Creative Destruction (Benefits/Costs of Market Evolution)
Monday: Class Administration
Wednesday: Critical Thinking & Economic Problems; Gasoline
Prices (STL Fed)
Friday: Benefits &
Costs from Trade
& Markets: Creative
Destruction (Phil Fed); Brief
Report Example
Week
2
Monday: Basis of Trade -- Brief
Report #1 Due on Economic
Protectionism & Comparative Advantage (Dallas Fed)
Wednesday --
Friday:
Question/Help day
Week
3
Monday:
Brief Report
#2 Due on Big
Macs & PPP (Dallas Fed)
Wednesday: Key
Macroeconomic Measures -- Bankrate.com;
Economagic
Most Requested
Friday :
Quiz 1
Additional Links: Economist
Big Mac Website ; Excel
File w/Gas Prices
Sears
Catalogue
Data
[Section II (Weeks 4-5) Long Run Economic
Growth, Living Standards, and Sustainability]
Week 4 (Begins Feb
16)
Monday: Rich
& Poor around the World; Extra Credit Map Due -- GDP Per
Capita Country Cross Sections (CIA
Factbook Link)
Wednesday: Explaining Cross-Country Living Standards; Brief Report #3 Due on African
Economic
Problems
Friday: Question Day
Week 5
Monday: What is Sustainable Development? Brief
Report #4
Due on Sustainable
Development (Dallas
Fed)
Wednesday: Population &
Sustainability; 400
Million
Americans
Friday: Quiz 2
Additional
Links: Economic
Freedom of
the World Map My
(Robert Barro) Luncheon with Bono (Business Week)
Fraser Report on
Economic Freedom (Fraser
Institute); Cross-Country
Personality Differences (MR); Julian
Simon ; writings
by Julian Simon
available on the WWW)
[Section III (Weeks 6-10) Monetary/Financial Institutions +
Economic Expansions & Contractions]
Week 6 (Begins Mar 2)
Monday:
U.S. Monetary & Financial Systems; Brief
Report # 5 on Primer on
the Federal Reserve & Banking (Dallas Fed)
Wednesday: Debt & Equity Markets & their Risks (Leverage,
Insurance); Benefits
& Risks of Financial Leverage; Household
Debt
Friday:
Question/Help Day
Week 7 Spring Break
Week 8
Monday:
Business Cycles + Current Situation; My Posts: BG1;
BG2
Wednesday: Financial Crisis of 2008;
Friday Quiz 3
Additional Links:
Summarizing
U.S.
Business
Cycles (NBER Data) Depression
Statistics; Excel
File with Classroom Graphs;
Week 9 (Begins Mar 23; Chapter 15)
Monday: Government Responses -- Monetary Policy; Brief
Report #6 Due on Depression-Era Banking Crisis (Friedman
Text
or Video
-- don't include panel discussion from either text or video)
Wednesday: Monetary Policy con't
Friday: Question Day
Week 10 (Text -- Chapter 15)
Monday: Problems Short Term Fiscal "Stimulus"; Brief
Report #8 Due on Varian
on Stimulus
Wednesday: Government Spending in General: Government
Spending Net Cost-Benefit (Marginal Revolution);
See Varian again; Barro
on infrastructure spending
Friday
April 3: Quiz 4
Additional Links:
Problems
of Fiscal Stimulus
What Can Govt Spending Do?
[Section IV --
Special Macroeconomic Topics]
Week 11 (Begins Apr 6)
Government, Markets, & the Macroeconomy
Monday: Long Run Issues; Brief
Report #9 Due on Debt/Deficits/Entitlements
(STL Fed)
Wednesday: Long Run Issues Continued
Friday:
Question/Help Day
Week
12 (Begins Apr 13) Macroeconomics & Ethical/Social Issues
Monday:
Macro Healthcare Stats & Economic Growth:
"Life is
Good" (Minneapolis FR);
Wednesday: Healthcare, Markets, & Regulation: Pricing Restrictions
Friday Quiz 5
Week
13 (Begins April 20) Macro Ethical/Social Issues Con't
Monday: U.S. Income-Wealth Distribution; Brief
Report
#10 Due on Income
Inequality (STL Fed)
Wednesday: Immigration
& Macroeconomics (Phil Fed)
Friday: Question Day
Week
14 (Begins April 27) International Perspectives & Country
Studies
Monday: Asia; Brief Report #12 Due on China
& India (Dallas Fed)
Wednesday:
Brief Report #11 Due
-- Russia's Dilemma
or Russian "Rent"
(Streetwise Professor)
Wednesday: The Americas (Mexico, South America) NAFTA
Impact in Mexico and More
Mexico ; Mexico
Instability & Drugs;
Friday
Quiz 6
Week 15 (Begins Apr 27)
(15) Monday: Reviewing
Important Macroeconomic Lessons (PowerPoint)
(15) Wednesday: Final Exam Prep
(15) Friday: Question/Help Day
Week
16
Final
Exam
Econ Myths:
1. Free trade makes society poorer
2.
Additional Links:
Russian
Highway Problems
Cross Country Tax
Burdens;
Tradeoffs
Price
Gouging (Richmond Fed)
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.
FAQ
Q: How can I prepare for the tests?
How can I do better in this class?
A: Come to class and pay attention. Read assigned material and complete
the Aplia assignments as we go along. Practice answering past
test questions as we cover that material. Ask questions of me either in
class or drop by my office.
Q: I had to work late last night, I
had trouble with the computer system or it went down last night, ...
will you change the deadline for the Aplia assignment or Brief Report?
A: No. Make sure to
leave yourself plenty of time for unexpected
problems. For very signficant situations
(hospitalization,
car accidents, ...), see me, and we will work out a customized solution.
Q: I will miss an exam because of
forensics, swimming, golf, .... When can I make-up it up? May I
take it early?
A: No make-ups are given but
see me. For legitimate absences, I will weight your final
exam to compensate. See me in advance if at all possible.
Q: I can't understand question x on
the Aplia assignment. Can you help me?
A: The graded assignments for you to complete. You
may also seek assistance from other students (and, of course, your
teammate if you have one), but you must enter answers for
yourself. I am glad to be of assistance on a practice
assignment if you come by my office or ask me after class.
Q: I left out some minor part of the
Brief Report ... will you count off for this?
A: Yes, but you may still receive 2 (out of 3.3) points if it is a
minor problem.
Q: I'm doing poorly on
tests/assignments. Can I do work for extra credit?
A: No. Grades will be determined by the policies stated above. I
sometimes include a 1%-2% upward adjustment for students who are
regular in attendance and actively
participating in class. This is not automatic and subject solely to my
discretion.
Q: Do the past exams that are
available online cover all material on current tests?
A: No. They are intended as one tool to use in preparing
for current tests, but the tests change each semester with some
material excluded, some included, and some changed a bit.
Warning: occassionally a past test question is incorrect.
Q: What do you mean by "behavior
that is inappropriate or distracting"?
A: This includes but is not necessarily limited to profanity,
personal conversations, note passing, repeated cell phone
interruptions, and other sorts of rude or disruptive activities.
Q: My final grade is an 89.1,
isn't that close enough to an A? I need it to keep my scholarship.
A: An A is 90.0 and above, a B is 80.0-89.9 and so on (I do round
up for decimal values above 0.9). I will be glad to
correct any error that I make in computing grades, but grades are not
negotiable. Achieving a certain grade for scholarships or any
other
reason is the student's responsibility.
Quiz 1 Correct Answers
Version A: 1c, 2b, 3c, 4d, 5d, 6b, 7a, 8c, 9c, 10a, 11c, 12b, 13d, 14b,
15d, 16a
Version B: 1a, 2c, 3b, 4d, 5b, 6d, 7c, 8b, 9c, 10d, 11d, 12b, 13a, 14c,
15c, 16a
QUIZ 1
Quiz 2 Correct Answers
Versions A & B: 1d, 2a, 3d, 4b, 5a, 6a, 7b, 8c, 9d, 10d, 11b, 12a,
13a, 14d, 15c, 16a
Quiz 2
Quiz 3 Correct Answers
Version A: 1a, 2c, 3d, 4d, 5a, 6c, 7c or d, 8b, 9a, 10b, 11c, 12c, 13d,
14a, 15d, 16a
Version B: 1a, 2b, 3c, 4c, 5d, 6a, 7d, 8a, 9c 10d, 11d, 12a, 13c, 14c
or d, 15b, 16a
Quiz 4 Correct Answers:
1 (any answer ok -- no correct answer given); 2c, 3b, 4d, 5a, 6c, 7a,
8c, 9a, 10b, 11b, 12a, 13 (skip - no question), 14d, 15c, 16a
(Take score and compute % out of 14)
Quiz 5 Correct Answers
1d, 2c, 3b, 4b, 5a, 6b, 7b, 8c, 9d, 10b, 11b, 12c, 13b, 14c, 15d, 16a
Quiz 6 Correct Answers
Version A: 1d, 2c, 3b, 4b, 5b, 6d, 7b, 8b, 9b, 10d, 11b, 12a,
13c, 14a, 15b, 16a
Version B: 1b, 2b, 3d, 4b, 5a, 6c, 7a, 8b, 9d, 10c, 11b, 12b, 13b, 14d,
15b, 16a
APLIA
Student Registration and Payment Instructions
Course Name: Goff, Mankiw Brief Macro, Spring 2008
Start Date: 01/22/2008
Professor: Brian Goff
Course Key: YTFC-HTGB-LVAC
You can begin working on your homework as soon as you register!
• In this course, you will use a textbook and
Aplia's website.
• You will save money if you buy these
together.
• You have two purchase options.
• You will have free access to the first four
chapters of an online copy of your textbook at Aplia. You can access
the remaining online chapters as soon as you submit a payment for your
Aplia course.
• Don't buy anything until you understand your
alternatives.
Registration
Registration Instructions
1. Connect to http://www.aplia.com.
2. Click the System Configuration Test link
below the Sign In and Register sections to make sure you can access all
of the features on Aplia's website. This takes just a few seconds and
tells you how to update your browser settings if necessary.
3. Return to http://www.aplia.com.
• If you have never
used Aplia before, click the New Student button and enter your Course
Key: YTFC-HTGB-LVAC. Continue following the instructions to complete
your registration.
• If you have used
Aplia before, sign in with your usual e-mail address and password and
enter your Course Key when prompted: YTFC-HTGB-LVAC. If you are not
prompted for a new Course Key, click the Enter Course Key button to
enroll in a new Aplia course. Enter your Course Key when you are
prompted.
4. If you understand your payment options, pay
now. Otherwise, postpone your purchase decision by choosing the option
to pay later. Your payment grace period ends at the end of the day on
02/11/2008.
Payment
Option A: Pay Aplia Directly
• Purchase access to your course directly from
Aplia on our website for $70.00 USD. The website includes:
- Access to an
online copy of your textbook.
- Content that has
been customized for your textbook and course.
• However, if you try using the online
textbook and decide you would also like a physical textbook, you can
order one from Aplia for $40.00 USD plus $7.50 for shipping and
handling.
Option B: Purchase at Bookstore
• Purchase a stand-alone Aplia Access Card
from your school's bookstore.
- Access Cards
contain a Payment Code you can enter on Aplia's website as payment for
your Aplia course.