Macroeconomics 1102 - Spring Qtr 1997
Department of Economics, University of Minnesota
Syllabus
Instructor: Mark Lutterman
Office: 1068 Mgmt & Econ Bldg
Phone: 625-2024, 625--6353
Email: lutt@atlas.socsci.umn.edu
Office Hours: M, W 12:30-1:30 and by appointment
Class: Lectures: MWF 11:15-12:05 Willey Hall 175
Recitations: Fridays assorted times 10:10-2:15
Class Links
Topics and Readings
Objectives: The purpose of this class is to provide an
introduction to the basic ideas of macroeconomics by examining the definitions of common macroeconomic terms and concepts to facilitate an understanding of what they are attempting
to represent and how well or poorly they achieve those objectives. To gain this understanding we will use graphs, arithmetic, and algebra at the level of the prerequisite, College
Algebra. Specific terms and concepts students will learn relate to: - Attempts to measure how much is produced -- GDP.
- Attempts to measure how well people are doing -- Real GDP per capita, Money, Unemployment, and Inflation.
- Attempts to explain why production changes -- Growth Theory, Investment, Saving, Financial Intermediation, International Trade.
- Attempts to improve the performance of the economy -- Government, Education, Taxation, Public Goods, Welfare, Social Security, Trade, Monetary & Fiscal Policy.
Text and Readings:
Required Text: Principles of Macroeconomics 6th Edition, by Roy J. Ruffin and Paul R. Gregory, 1997. This can be found at the H.D. Smith Bookstore in the basement of Blegen Hall or the private
company "The Student Bookstore" at University Ave & 15th St. SE. It may be possible to find a few used copies from last quarter. Supplemental Text: Ruffin and Gregory have a Study Guide to accompany
their text written by Jeffrey Parker.
The required text is an important resource for class.
The text will provide important perspectives, and definitions in some detail that will be discussed in Lectures and Recitations. Students are expected to read and ask questions about material in the
Text. In particular students should read Chapters 2, 7-9, 11-13, 18-20; and portions of Chapters 1, 3-4, 6, 14-17, and 22.
Further, students will be responsible for all material discussed in Lectures and Recitations by the Instructor as well as by guest
lecturers, and TA's. If you miss a class, you are responsible for getting the notes from another student, and clarifying any questions you have with the Instructor during Office Hours.
Links to:
Grading will be based on:
- 4 Homework assignments for 40% of your grade,
- 1 Midterm Exam for 25% of your grade,
- 1 Final Exam for 35% of your grade.
The grading scale is:
- 90% or more -- A
- 80% - 89.9% -- B
- 70% - 79.9% -- C
- 60% - 69.9% -- D
- F for less than 60%.
University policy is that those taking the class S/N must earn an equivalent of C or better to receive an S.
Policies:
- Homeworks and other assignments should be turned in on the assigned date unless there are mitigating circumstances (e.g. ill and you bring a written medical excuse -- for privacy this need
only state there was a medical reason for delay, not what the medical reason was).
Late assignments are better than none, and will be recorded as turned in but will only be counted in borderline grade decisions, and no assurance will be given of their timely return.
- Homeworks and projects should be typed except for graphs and calculations. This is departmental policy. If you turn in a handwritten assignment, it is up to the discretion of the grader
whether or not to grade it and/or take off points for illegibility.
- Test should be taken on the assigned date unless you inform me of circumstances that prevent you from taking the test. Make-up midterm exams are not possible except in extreme circumstances.
If you know in advance about conflicts with an assigned test day, please let me know in writing in advance.
- I encourage students to work together on homework assignments. Groups of up to five students may write and turn in a joint homework assignment. Joint assignments must have the names of all of
the students involved along with the section number of their recitations.
It is the responsibility of every member of the group to make certain that the joint assignment is complete and correct.
You should also check with your TA when assignments are returned to make certain that your grade has been recorded correctly.
- If you have questions about how an assignment or test has been graded you may request an explanation and/or appeal the grade. This should be done during regular office hours or be appointment.
I try to treat all such requests politely and professionally, and expect the same from you.
You will make the best impression, and learn more if you come prepared to discuss what you believe would have been a good answer, rather than simply trying to defend your original answer.
Recitations: All TA's have offices in the Mgmt & Econ Bldg.
- Sections 7,8,9 your TA is Rudolfo Guerrero, with email at guer0005@gold.tc.umn.edu and
Office Hours: Wednesdays from 1:15 to 3:30,
and Fridays from 1:15 to 3:15 in .Room 975 M&E, and
phone 625-1023.
- Sections 6 and 11 your TA is Ron Edwards, with email at
redwards@atlas.socsci.umn.edu and Office Hours: in Room 922 M&E, and phone 625-0145.
- Section 10 your TA is Ahmed Khwaja, with email at
awkhaja@atlas.socsci.umn.edu and Office Hours: Mondays 12:20-13:00 or by appointment in Room 1131 M&E, and phone 625-1049.
Schedule: (Specific dates and changes will be announced in class)
Topic Readings
------------------------------------------------------------------------
Introduction Ch 1, 2 and 6
Measuring Output, Ch 7
Money, Ch 11
Inflation, Ch 15
Unemployment, Ch 16
Savings & Investment, Ch 8
Economic Growth, Ch 9 and 22
Homework #2 handed out on F 4-25-97 due W 5-7-97
Midterm Exam Wednesday May 14, 1997
Financial Intermediation (Banking), Ch 12
International Trade, Ch 18 and 19
Monetary Policy
(Domestic & International) Ch 13 and 20
Tax, Debt and Fiscal Policy, Ch 14 and class notes
Final Exam Tuesday June 10, 1997 6:30-9:30pm.
URL:http://www.econ.umn.edu/~lutt/s97_1102-2/syl2.html
Copyright: 1997 by the Regents of the University of
Minnesota.
Department of Economics. All rights reserved.
If you have questions or comments feel free to drop me a
line at one of the following addresses:
E-mail:
Mark Lutterman at "lutt@atlas.socsci.umn.edu"
Snail-mail:
Mark Lutterman
1035 Managment & Economics Building
University of Minnesota, West Bank Campus
271 South 19th Ave
Mpls, MN 55454, USA
Phone: 612:625-2024, or 612:625-6353
Fax:612:624-0209
Office:
1068 Managment & Economics Building
Office Hours:
Mondays and Wednesdays after class 12:30-1:30 and by appointment
Last updated:April 4, 1997
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