Find a issue which has two views: agree and disagree, explain them. finally which view are you agree with and reason. the reason should be
the knowledge from Macro economy(ECO-105) which include GDP, Real GDP, Money GDP, Aggregate Demand, Aggregate Supply, LRAC, LAS…. The
reason should be simple to understand, doesn’t need to have some knowledge beyond the ECO-105, Principles of Economics: Macro. You can read
class syllabus to understand what we learned in this course.

 

 

Economics 105: Principles of Macroeconomics                         Professor Pace University                     Economics DepartmentSummer I 2017    New York Campus

Welcome to this course in principles of macroeconomics. This is probably your first or perhaps second course in economics and somehow you
have formed an opinion about economics.  Some of you may be excited about studying it and others may either dread or are not terribly
interested. I will tell you from my history of teaching economics and of simply living in a market driven economy, Economics is one of the
most important fields to study and the one that affects your lives in every possible way. I will try to make this course as relevant to your
world as possible and welcome your comments, questions and suggestions about the course and the topics that we cover.  In fact, I have added
some very relevant issues to this macro course to help you understand the economic difficulties for the U.S. and the World at present. I
wish you much success in the course and am here to help you if you need assistance.  My office is 1124 at 41 Park Row and my office hours
are right after this class ends. If you need another time because you have other classes or work or other obligations set another time with
me.  I look forward to teaching you this class, but more importantly I look forward to us all learning together and having your view of the
world become sharper through the study of economics.  I hope that you enjoy the course.

 

 

 

 

 

 

 

 

PRINCIPLES OF MACROECONOMICSCOURSE SYLLABUS

Course Description:  Basic concepts of national income determination, money and banking, business cycles and economic fluctuations, monetary
and fiscal policy, economic growth and  current macroeconomic issues. (3 Cr.).  Core:  Area of Knowledge V, Exploratory Course
Required Texts:
(Olney) Olney, Martha. Macroeconomics as a Second Language.                                (Hoboken, NJ: John Wile & sons, 2011)
(MACROR) Miller, Roger LeRoy and Benjamin, Daniel K. The Economics of Macro Issues,          7th ed. (Boston, MA: Pearson Addison Wesley,
2016)
Other Issuess: New York Times Business Section Paul Krugman, editorial writer New York Times Wall Street Journal The Economist Business Week
Course Objectives:  At the end of this course you will be able to:1. Define important economic terms and concepts2. Understand basic macroeconomic principles and laws 3. Apply economic concepts to analyze real world economic problems and macroeconomic policy issues4. Explain your own position on macroeconomic issues5. Obtain a greater understanding of the workings of the national economy  6.  Gain a greater appreciation for the study of the field of macroeconomics
Course Requirements and Evaluation:1. General• Read all of the assignments and do the study guide work• Ask questions in class • See me if you are having difficulty (the earlier the better)• Take the midterm and final exams• Write a brief 3-4  page essay by two-thirds of the way in the term on a topic of your choosing using economic analysis

 

2.  Evaluation• Analysis Essay (20%) The format for the paper will include a title page, three to four full content pages, stapled and standard margins (1”) and 11 pt.
font.  Select a contemporary issue in macroeconomics; explain the issue; provide two different points of view about its solution; offer your
own view on the right policy or solution to follow and explain why. The Essays are due on July 6, 2017. • Two Exams:  Midterm and Final (@30%) Coverage of assignments and topics for each third of the course.• Class Participation  (20%) Discussion of course assignments, questions and issues
N.B.:  Make-ups of exams are in analytical essay format.  The time is to be arranged with the instructor.
3.  Specific.
• Academic Policy You are responsible for attending class regularly.  You are advised to contact me in advance when possible should special
circumstances require your absence.  In the event of your absence, it is understood that you are still obligated for all assignments that
are due.  Absence from this class constitutes the loss of one and one half hours of both your active participation and the historical
context of the lesson.  More than one absence seriously jeopardizes your ability to pass this class.
• Academic Dishonesty and Plagiarism:  In common with all institutions engaged in the search for knowledge, Pace University is committed to high standards of academic
honesty and integrity.  Copying material from another source (book, journal, electronic media, another student etc.) without proper
acknowledgement is plagiarism.  It is also plagiarism to hand in work for one course that you used in another course without the written
permission of both instructors.  The use of “crib sheets” during exams is cheating.  These and other forms of academic dishonesty will
result in a grade of F for the course no matter what the quality is of your other class work.  It is also a given that that no one will be
permitted to leave and return while an examination is in progress.
• Disabilities If you have a documented disability – physical, psychological, medical or learning – which may impact your academic learning, please
contact the Office of Counseling and Career Services.  The director will determine with you which accommodations are necessary and
appropriate.  All disability-related information will be kept confidential.
PRINCIPLES OF MACROECONOMICSCOURSE SYLLABUS

 

WEEK     TOPICS/KEY QUESTIONS ISSUES ASSIGNMENT
Week 1: Introduction to Macroeconomics T 5/30      Introduction and Key Principles             (OLNEY) Chapter 1: Introduction:  What is        What is
Economics?                       Economic Analysis? Economics Tools      What is Microeconomics?           TRY 1-14 What is Macroeconomics?      Chapter 2: Key Concepts,  Why Study Macroeconomics? Production Possibilities, Economic Growth Four Fundamental Questions TRY 1-10How Does an Economy Produce? What? How? For Whom? How Much? (MACROR) Issue #4: Poverty, Capitalism and Growth
TH   6/2 The Basic Concepts in Microeconomics  What is Microeconomics? (OLNEY) Chapter 3: Demand and Supply                                         Demand TRY 1-8 Supply (MACROR) Issue #1: Rich & Poor Nations Market Equilibrium Shortages and Surpluses
Week 2:         The Basic Concepts of Macroeconomics    (OLNEY) Chapter 4: Measuring the T  6/6 How do We Measure Macroeconomic Activity?      Macro Economy     How does Macroeconomic Activity           TRY 1-18                                            Relate to Standard of Living? (MACROR) Issue #6: What Should GDP  Macroeconomic Inequality Include?          Issue #8: Capital, Wealth and  Inequality                  TH  6/8 Aggregate Supply and Economic Growth     (OLNEY) Chapter 5: Long-run Economic What is Economic Growth?  Growth Aggregate Production Function    TRY 1-15 Aggregate Supply    (MACROR) Issue #9: The Great Returns to Scale
Stagflation Investment and Human Capital                                           Issue #10: The Case of Are We Growing Fast Enough?  Disappearing Workers

WEEK  TOPICS/KEY QUESTIONS ISSUES ASSIGNMENT
Week 3: Keynesian Macroeconomic Principles           T   6/13    What is Total Demand in the Economy?   (OLNEY) Chapter 6: Keynesian Economics     What is Consumer Expenditure TRY 1-20                               What is Capital Investment?  (MACROR) Issue #7:  The ‘R’ Word               What Factors Cause Instability?    Why are they so Important?   What are Inflation and Unemployment?    TH   6/15    Understanding Aggregate Demand                           What is Aggregate Demand? (OLNEY) Chapter 7: Aggregate Demand  What is Aggregate Income? TRY 1-18 What is Aggregate Supply?            Chapter 8: The Spending Multiplier                                         What is the Fiscal Multiplier? TRY 1-20                 How do we determine Macroeconomic Equilibrium?         Week 4:          Macroeconomic Policy       T 6/20     MIDTERM EXAM     What is Fiscal Policy? Monetary Policy? (OLNEY)  Chapter 9: Macroeconomic           Unemployment and Inflation TRY 1-12
Policy: Overview                                         How do We Stabilize the Economy?       How do We Control Both Unemployment and Inflation?                            TH  6/22    Fiscal Policy and Economic Stabilization        How do We Control the Business Cycle? (OLNEY)  Chapter 10: Fiscal Policy     Why am I in Learning Macroeconomics?  TRY 1-11              What do I Know about Macroeconomics? (MACROR) Issue #16:Aggregate Economic           The Overall Role of Government
Stimulation: Are You Stimulated Yet?     Issue: Obamanomics and Economic Stimulus          Issue #17: Higher Taxes Are    Issue: The National Debt   In Your Future?           Week 5:        Money, Banking and Monetary Policy T  6/27   What is Money? Why is it Important? (OLNEY) Chapter 11: Money Creation  What are Financial Instruments?                  TRY 1-20     How do We Create Money?      Chapter 12: The Money Market What is the Role of the Banking System      TRY 1-14     in the Economy? (MACROR) Issue: #19: The Fed and                       The Money Market                           Financial Panics Dealing with Financial Panics    Issue: What Went Wrong with the Banking System?WEEK         TOPICS/KEY QUESTIONS ISSUES ASSIGNMENT
Week 5 (cont.):TH 6/29 The FED and Monetary Policy What is the Federal Reserve System? (OLNEY) Chapter 13: Monetary Policy and How do Interest Rates Effect the Economy? TRY 1-17  Interest Rates   What is Monetary Policy?                            Chapter 15: The Federal Reserve and                       How does THE FED Stabilize the Economy? The Monetary Policy Approach                        What is Quantitative Easing?                                  TRY 1-18                    Do We Need the Fed?    (MACROR) Issue #20: The FED  Issue: Does the FED Work?                     Feeding Frenzy
Week 6:T  7/4            JULY FOURTH HOLIDAY : NO CLASSES
TH 7/6 Open Macroeconomics: International Trade                     ESSAYS DUE                                                                                                      Why do Nation’s Trade?                            (OLNEY) Chapter 16: Open  What is Absolute Advantage?                   TRY 1-13    Economy Macroeconomics What is Comparative Advantage?             Also Review (OLNEY) Chapter 2 Who are the US’s Trading Partners?              Why do Nations Trade? (MACROR) Issue #27: Opposition To            How do Nations Trade?                Globalization
Why the US Trade Deficit?          Issue #28: Restricting Free                      International Finance                               Trade: The $750K Job      What are Exchange Rates?         Issue:  Why the Falling US $?    What is the Foreign Exchange Market?
T 7/11 TRUMPONOMICS and FINAL EXAM Final Exam Trumponomics                                          The Economist May 13, 2017 (hand out)