Econ 201 - Fall 2004 - Syllabus             

INTRODUCTION TO ECONOMIC ANALYSIS: MICROECONOMICS

Professor Stephen Haynes
E-mail: shaynes@uoregon.edu
Office: 418 PLC
Phone: 541-346-4665
Office Hours: Tuesday and Friday, 2:00-3:30, ABA

Distance education:
http://distanceeducation.uoregon.edu
http://de@ssil.uoregon.edu
Blackboard: http://blackboard.uoregon.edu, and courseinfo@blackboard.uoregon.edu

General Information. Online classes are offered for students who are unable to attend regular classes (because of job commitments, distance from Eugene, etc.) or who prefer the flexibility that an online class adds to their schedule. The material covered in online economics classes is similar to that in regular economics classes, and the exams are similar in format and difficulty. Online classes require more discipline by students than regular classes given the necessity of mastering the material primarily from the textbook and related sources (both offline and online). Thus, students should keep up with the readings in an online class in a timely fashion and not simply "cram" the last minute for exams. This is especially important since we will be proceeding at about the same pace as regular principles classes.
Unlike with regular classes, exams for online classes can be taken up to two weeks before the exam deadline, and a reservation is required to take the exam. It is encouraged that students coordinate their online exams with exams for other classes in order to minimize conflicts and create "space" for exam preparation for each course.

Exams for On-Campus Students. Students on campus will take all exams in the Social Science Instructional Laboratory (SSIL) located in 445 McKenzie Hall. On-campus tests are given by appointment only. Before scheduling an exam, you must complete "On-Line Test Taking Introduction" located at the distance ed webpage -- http://distanceeducation.uoregon.edu/ -- after clicking on the light-blue button entitled "Take the On-Line Test Taker Introduction." After completion of this introduction, you will be given a Test-Taker Personal Identification number and password, which will enable you to log on to the Test-Taker Home Page from the distance ed webpage. From the Test-Taker Home Page, you can make appointments to take tests, cancel appointments, see your test scores, change your test-taker password, email me, and more. If you have further questions about testing, contact de@ssil.uoregon.edu.
Important: you must complete the On-Line Test Taker Introduction by the end of the first week of class.

Exams for Off-Campus Students. If you are taking the course off campus, proceed to the distance ed webpage -- http://distanceeducation.uoregon.edu/ -- and click on the Off-Campus tab at the top of the page. Examine the information on the subsequent pages. Note that prior to taking a test, you must obtain a proctor and have the proctor approved by SSIL. To check for approval, fill out the "remote site request form" on the web page, and forward it to SSIL. SSIL will then notify you if your proposed proctor is acceptable. You must obtain approval of the proctor by the end of the first week of the term. If you have further questions on testing, contact de@ssil.uoregon.edu.
Important: you must complete the On-Line Test Taker Introduction by the end of the first week of class.

Blackboard. This course will use Blackboard for a variety of purposes. Thus, you need to make sure that you can log on to Blackboard at http://blackboard.uoregon.edu, following the instructions on the homepage of Blackboard. Your username will be your computing center email account address (gladstone account for students and darkwing account for GTFs), with the corresponding password for that account. For example, if you have a gladstone account, your username will be username@gladstone.uoregon.edu. If you have problems logging in, make sure you can log on to your gladstone (or darkwing) account, since you might have an old password. You can also check your "official" email address in Duck Web. If you still have problems, contact the computing center for assistance in 151 McKenzie.
Once you log on to Blackboard, click on this course and then click on Course Documents. Course Documents will contain the course syllabus, chapter outlines, Power Point lectures, and practice questions and answers with explanations. Weekly updates about assignments will also be posted on Blackboard and emailed to the class. In addition, your grades will be available on Blackboard. The Blackboard addresses are http://blackboard.uoregon.edu and courseinfo@blackboard.uoregon.edu.

ECONOMICS 202

Prerequisite. The prerequisite for this course is Ec 201, Principles of Microeconomics, or the equivalent.

Course Information. In this course, we will examine how key aggregate variables such as real economic activity, economic growth, unemployment, and inflation are determined. These variables will first be examined in the long run using Classical analysis, which assumes full employment through price flexibility. They will then be analyzed in the short run from a Keynesian point of view, which assumes relatively fixed prices. For both analyses, the possible effects on these variables of government macro policy -- in particular monetary and fiscal policy -- will be explored. We will conclude the course with an examination of several current issues in macroeconomic policy.

Grading and Exams Deadlines. Three exams are required. The deadline for completing the "On-Line Test Taker Introduction" and the deadlines and weights for taking the exams are listed next.

"On-Line Test-Taking Introduction" Deadline is Saturday, April 3
Exam 1 Deadline is Wednesday, Oct 20 Weight is 27.5%
Exam 2 Deadline is Wednesday, Nov 17Weight is 27.5%
Final Deadline is Friday, Dec 10Weight is 45%

Three Important Notes on Exam Deadlines. First, there will be no exceptions to these deadlines, and there are no makeup exams and no extra credit. You must take an exam by the deadline to receive credit for the exam. Second, exams may be taken prior to the exam deadline, and a reservation is required to take an exam. But do not wait until the last minute to schedule your exams; the class is likely to be full, and testing slots will fill up fast. Third, SSIL's webpage allows you to make appointments for exams two weeks in advance regardless of the deadlines given above. For example, if you log on April 14 to make an appointment for exam 1, SSIL will permit you to schedule the exam on, say, April 28. But note that April 28 is beyond the deadline for exam 1 (by one week), and that exam will not count! Do not interpret the dates given by the SSIL webpage as extensions of the exam deadlines -- they are not!

Grading Procedures and Exam Coverage. I will grade on a curve, as is normally appropriate for a large class, adjusted by class performance. I will not formally compute a curve after Exams 1 and 2, but will provide sufficient feedback so that students will know how well they are doing relative to the class.
Regarding exam coverage (and as shown below), Exam 1 will cover chapters one through six; Exam 2 will cover chapters seven through twelve; and the final exam will cover chapters fourteen and sixteen and also some key topics from earlier chapters (a bit more than half of the final will come from chapters one through twelve).

Text, Other Learning Sources, and Practice Questions. In addition to the text, there are a number of excellent learning sources and sets of practice questions. This material is especially important to study for online courses. Some of the material is included in the Course Documents section of Blackboard, as noted next.

1. Text (required): Microeconomics, Principles and Tools, by Arthur O'Sullivan and Steven M. Sheffrin, Prentice Hall, Third Edition, 2003.
2. Other Sources to Help Master the Text Material.
a. Chapter-by-chapter summary and outline of material, posted on Blackboard. This is from the Instructor's Manual. The outlines are excellent -- very detailed and thorough.
b. Power Point development of each chapter's material, also posted on Blackboard. Excellent mode of presenting the material, especially the graphical points. Note that the Power Point slides may be slow to download via a modem. Power Point is also available on the text's website at www.prenhall.com/osullivan.
c. "Active Graph" presentation of each chapter's main points, available on the CD included with the text. Innovative manner of presenting material, with several video clips and chapter quizzes.
d. Study Guide material. Includes informative chapter summaries, checklists, key terms, and study tips.
3. Practice Multiple Choice Questions.
a. Questions with hints, answers, and explanations, posted on Blackboard. The questions are from text's website at www.prenhall.com/osullivan. Excellent questions to review; explanations of answers are very useful.
d. Additional chapter quizzes with answers on CD in the text.
4. Weekly Emails with Study Checklists (contact the instructor if you do not receive emails).
a. Emails will both be sent to students and posted on Blackboard.
b. Will include information about scheduling exams, exam deadlines, study hints for exams, and results of exams.
5. Discussion Board. Within each chapter folder (in Course Documents), there is a Discussion Board link and a key topic for that week. We will use the Discussion Board to conduct a weekly discussion forum on this topic as a method for exploring and mastering the general topic. Although not graded, student participation is highly encouraged.

Reading List from Textbook and Schedule of Exam Deadlines. For each chapter, all pages are assigned except the appendices. Note that, if you schedule an exam prior to the deadline date, you will have to accelerate your study of the material relative to the pace outlined next. For this reason, I have frontloaded the majority of readings to the first half of each of the three parts of the course.

PART ONE: MACRO BASICS AND THE ECONOMY IN THE LONG RUN
WEEK ONE (Sept. 27-Oct. 1) INTRODUCTION/REVIEW FROM EC 201
     Chapter Two: Key Principles of Economics
     Chapter Three: Markets and the Government
WEEK TWO (Oct. 4-8) BASIC CONCEPTS IN MACROECONOMICS
     Chapter Five: Measurement of Production and Income
     Chapter Six: Unemployment and Inflation
WEEK THREE (Oct. 11-15) CLASSICAL MACROECONOMICS
     Chapter Seven: Full Employment Analysis
WEEK FOUR (Oct. 18-22) ECONOMIC GROWTH
     Chapter Eight: Explanations for Economic Growth
DEADLINE FOR MIDTERM ONE: WED. OCT 20

PART TWO: ECONOMIC FLUCTUATIONS, FISCAL, & MONETARY POLICY
WEEK FIVE (Oct. 25-29) AGGREGATE MARKETS & FISCAL POLICY
    Chapter Nine: Aggregate Demand and Aggregate Supply
    Chapter Ten: Keynesian Short-Run Analysis and Fiscal Policy
WEEK SIX (Nov. 1-5) INVESTMENT & BANKING
    Chapter Eleven: Investment and Interest Rates
    Chapter Twelve: Money and the Federal Reserve System
WEEK SEVEN (Nov. 8-12) MONETARY POLICY
    Chapter Thirteen: Monetary Policy in the Short Run
WEEK EIGHT (Nov. 15-19) SHORT RUN TO THE LONG RUN
    Chapter Fourteen: Short Run to the Long Run
DEADLINE FOR MIDTERM TWO: WED. NOV 17

PART THREE: MACRO POLICY
WEEK NINE (Nov. 22-24) INFLATION AND UNEMPLOYMENT
    Chapter Fifteen: Dynamics of Inflation and Unemployment
WEEK TEN (Nov. 29-Dec. 3) MACRO POLICY ISSUES
    Chapter Sixteen: Current Issues in Macroeconomic Policy
DEADLINE FOR FINAL (CUMULATIVE): FRI. DEC 10