Department of Economics

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Department of Economics

Instructor: Professor Simon Hakim

Tues, Thurs 11-12:20, Anderson Room 2.

Office: Ritter Hall Annex R.815, Tel (215) 204-5037

Macroeconomic Principles (Econ. 1101)

Office hours are Tue and Thurs 9:30—10:40 or by appointment.

Schiller, Bradley R. The Macro Economy Today, McGraw Hill, New York. Twelfth edition, 2010.
Schiller, Bradley R. Study Guide to Accompany Schiller: The Macro Economy Today, McGraw Hill, New York. Twelfth edition.

ECON 1101: Macroeconomics The course will examine the

    1. interaction of households, business, government, and foreign sector in the market economy.

    2. determination of national income, employment, and prices.

    3. origins and role of money and financial institutions in a national economy.

    4. influence of government on macroeconomic activity through monetary and fiscal policy.

    5. impact of the world economy on relevant domestic variables.

Objectives of the Course:

  • To introduce the principles of macroeconomics to the level where students will understand analytical articles in leading international economic newspapers and magazines.

  • To bring students into the habit of reading on a regular basis national newspapers with emphasis on economic issues.

  • To teach students to make public presentations on economic news using Power Point.

Required Reading:
Friedman, Milton and Rose, 1980. Free to Choose, Avon Books, New York.
Two exams will take place. The class will be notified a week in advance about the date of the exam. The first exam will include chapters 1 through 5, -Final exam chapters 6 through 15 or as notified by the instructor, and the Friedman book. Each exam will include material, which was covered since the earlier exam. Each exam includes:

-- The material from the text and the instructor's lectures.

-- End of chapter and study guide questions.

-- Current economic issues.

-- The Friedman book (Just in the final exam).
Additional requirements:

It is recommended that students read the chapter before class. After class, students should concentrate on solving questions from the study guide(s). The entire book by Friedman should be read through the semester. Questions on the book will be part of the final exam.

The instructor will notify at the end of each class about the chapter(s) in the book and additional readings required for the next class. At the beginning of each class following the “What’s New” period, students are encouraged to raise questions on unclear questions from the above sources and/or from the lecture.
Course requirements include reading the book Free to Choose By Milton and Rose Friedman. It is suggested that students start reading Friedman's book IMMEDIATELY at the beginning of the semester.
At the beginning of each class we will spend 10 to 20 minutes discussing current economic topic and its relation to economic theory. Students are required to read on a regular basis an economic newspaper and/or magazine. The presentation must be based on an article that both describes and analyzes an economic current event or trend. Review of an article that merely describes an event is unacceptable. The presentation must be in an orderly fashion including both the description and analysis of such economic news. It is highly recommended to make a PowerPoint Presentation. However, presenters are required not to read their notes or slides while presenting but rather speak freely to the class. The objectives are to acquaint the other students on a current macroeconomic event and also learn how to make effective presentations. Groups of 2-4 students should make the presentations while all members of the group present in class. All individuals will be graded on their presentations. Non-preparation may lead to a failing grade depending upon the instructor’s discretion.
The grade in the course will consist of the entire performance of the student including exams, participation in class discussions, and the presentation of economic news.
Students are required to attend all meetings. Participation in class is part of the grade and the instructor reserves the right to assign additional work while class is in session. In case of absence from class, students are required to contact another student in to learn about possible requirements. Non-attendance is no excuse for unfulfilled requirements.
It is also required that students are in class before the assigned time and do not walk out of class. Late appearance and early departure are very disruptive to the conduct of the class. Students that will do so in a repeated manner and without the instructor permission are requested NOT to attend and their grade will be noted.
Students are requested not to eat in class. Beverages are allowed but NO food.
Thank you very much for adhering to these requests.
Final grade is determined as follows:

Participation in class discussion, and HW 10 percent

Presenting an economic current event 20

Exams 70

Total 100 Percent

Chapters covered in class:

Chapters 1 through 15 will be covered in the order of the book. The instructor preserves the right to extend discussion beyond the scope of the textbook, and require knowledge of such material on the exams.

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