syllabus

03/08/05
Preliminary

Economics 102
Principles of Macroeconomics
Spring 2005
Section 4, MWF 11:00, Carver 0001

Instructor: H. Ike Van de Wetering
281 Heady Hall
515-294-5888
hivdw@iastate.edu
Office Hours: MTWThF 9:30-10:30 a.m.

Make-up exams: advance permission required, no more than one makeup per student per semester.

Students should use e-mail as the preferred means of communication.

Class Homepage

www.econ.iastate.edu/classes/econ102/vandewetering/

Econ Help Room Heady 178 Hours: MTWR 9:00-5:00, F 9:00-4:00 Phone: 294-1599 Contact the Econ Help Room or your T.A. if you need one on one assistance. Your TA's hold their scheduled office hours as listed below in the Econ Help Room. They can solve specific MC problems interactively. Ask for them by name or by section number if you so desire, or make a specific appointment via e-mail or by telephone.
Your econ 102 TA's in Heady 178	Monday	Tuesday	Wednesday	Thursday	Friday

Mr. Jingtao Wu B6 Curtiss 294-4827 jingtao@iastate.edu
Miss Li Zhang B11 Curtiss 294-5694 leezhang@iastate.edu			11-12	9-11
Mr. Erik Guffy B5 Curtiss 294-4827 emguffy@iastate.edu		12-3
Mr. Jittinan Aukayanagul B10 Curtiss 294-8190 aukayana@iastate.edu	2-3:30	2-3:30

Supplemental Instruction (SI)

The SI leader will conduct regularly scheduled study sessions to assist students with course content and study skills. Students have an opportunity to work together, to compare notes, discuss readings, develop organizational tools and predict exam questions.

	When and Where:
	Monday	Tuesday	Wednesday	Thursday	Friday

Syllabus

Required Text: Michael Parkin, Macroeconomics, Sixth Edition, Addison-Wesley, 2003.

Required: Aplia spring semester subscription (28 dollars; see student course key plus user instructions, last page of this syllabus).

Lecture Schedule

Introduction

What is macroeconomics
Learning by doing

Multiple choice quizzes
Aplia On Line Interactive MC quizzes
In class problem solving
Supplemental instruction

The commodity market
Ch. 4: Measuring GDP and economic growth
Ch. 6: Aggregate supply and demand
Ch. 10: Expenditure multipliers
Ch. 11: Fiscal policy
The money market
Ch. 12: Money
Ch. 13: Monetary policy
The labor market
Ch. 5: Monitoring cycles, jobs and the price level
Ch. 7: The economy at full employment
The business cycle: five views
Ch. 15: The business cycle
The foreign exchange market
Ch. 18: International finance (time permitting)

Examinations

midterm, chapters 4, 6, 10, Friday, February 25. Go to class homepage. Go to Important Dates. Go to Questions and Answers for details.
final examination

Section 4, Monday, May 2, 9:45-11:45 a.m., Carver 0001

Further details posted under Questions and Answers, Message Box, Important Dates, Class Homepage.

On line MC quizzes

There will be a 35-question multiple choice quiz for each of the first nine chapters listed in the syllabus. Check the MC quiz columns under Important Dates for opening and closing dates and hours.

Answers to difficult questions
- go to Important Dates
- locate the question window
- submit the question number, with or without comments
- click the view button to see what questions your fellow students have submitted
- check the Friday lab column to ascertain the day/date at which the answers to the questions will be discussed in detail in class
- 35 question MC quiz grading scale:
  
  A = 35, 34, 33, 32, 31, 30
  B = 29, 28, 27, 26, 25, 24
  C = 23, 22, 21, 20, 19, 18
  D = 17, 16, 15, 14, 13, 12
  F = less than 12
On line Aplia quizzes
- There will be a 12-question multiple choice quiz for each of the first nine chapters listed in the syllabus. Check the MC quizzes column under Important Dates for opening and closing dates and hours.
  - How to register for Aplia: go to the last page of syllabus and follow the instructions.
    - Why Aplia?
      - interactive
      - challenging questions
      - trial runs before test run
      - immediate feedback
      - great technical support
    - 12 question Aplia quiz grading scale
      12, 11 = A
      10, 9 = B
      8, 7 = C
      6, 5 = D
      4, 3, 2, 1, 0 = F
Lecture materials
- go to Important Dates
  - read or print
    - chapter summay
    - key figures
    - lecture slides
- additional topical materials will be distributed in class.

Class Attendance

Students are expected to attend class regularly. Roll calls will be taken about once weekly throughout the semester. Excused absences must be verifiable through a student's supervisor, doctor or advisor.

Grading Policy

Students will be graded on (a) one in-class midterm test and a final examination, (b) 9 on-line multiple choice tests, (c) class attendance (9 roll calls), (d) 9 Aplia MC quizzes. The student should carefully study the following example. Note that there are 29 items that go into your course grade calculation. It is relatively easy to get a passing grade. It is much more difficult to get an A grade. For that purpose a semester long cumulative and persistent effort on your part is important. Be all that you can be!

MC Quizzes	Weight	Example Grade	(Weight)*(Grade)
No. 1 (Ch. 4)	.035	A	.140
2 (Ch. 6)	.035	B	.105
3 (Ch. 10)	.035	C	.070
4 (Ch. 11)	.035	D	.035
5 (Ch. 12)	.035	F	.000
6 (Ch. 13)	.035	A	.140
7 (Ch. 5)	.035	B	.105
8 (Ch. 7)	.035	C	.070
9 (Ch. 15)	.035	D	.035
Aplia Quizzes
No. 1 (Ch. 4)	.015	C	.030
2 (Ch. 6)	.015	B	.045
3 (Ch. 10)	.015	A	.060
4 (Ch. 11)	.015	F	.000
5 (Ch. 12)	.015	D	.015
6 (Ch. 13)	.015	C	.030
7 (Ch. 5)	.015	B	.045
8 (Ch. 7)	.015	A	.060
9 (Ch. 15)	.015	D	.015
Roll Calls
No. 1	.020	A	.080
2	.020	F	.000
3	.020	A	.080
4	.020	F	.000
5	.020	A	.080
6	.020	F	.000
7	.020	A	.080
8	.020	F	.000
9	.020	A	.080
In Class Examinations
Midterm	.120	B	.360
Final Examination	.250	A	1.000
		Sum	2.760
		Rounded Sum for + - calculation	2.76
		Course Grade	B

Letter Grade		Letter Grade
A	3.68-4.00	C	1.68-2.00
A-	3.34-3.67	C-	1.34-1.67
B+	3.01-3.33	D+	1.01-1.33
B	2.68-3.00	D	0.68-1.00
B-	2.34-2.67	D-	0.01-0.67
C+	2.01-2.33	F	.00-0.00

Note: regular class attendance and successfully completing computer quizzes and homework assignments are a virtual necessity to obtain a B+, A- or A course grade in this class.

Parkin, MacroEconomics, 6^th ed.
Economics in Action, 6.0
Data Base

To be used as needed for (1) time series graphs, (2) scatter plots, throughout the scheduled lectures for this semester.

No.	Variable	Symbol
1	Real GDP (1992 $ b.)	(GDP/P)
2	Real consumption expenditure (1992 $ b.)	(C/P)
3	Real investment (1992 $ b.)	(I/P)
4	Real government purchases (1992 $ b.)	(G/P)
5	Real exports (1992 $ b.)	(X/P)
6	Real imports (1992 $ b.)	(M/P)
7	Real net exports (1992 $ b.)	[(X-M)/P]
8	Real cons. expenditure (% of real GDP)	(C/GDP)
9	Real investment (% of real GDP)	(I/GDP)
10	Real government purchases (% of real GDP)	(G/GDP)
11	Real exports (% of real GDP)	(X/GDP)
12	Real imports (% of real GDP)	(M/GDP)
13	Real net exports (% of real GDP)	[(X-M)/GDP]
14	Potential GDP (1992 $ b.)	PotGDP
15	Fluctuations around potential GDP (%)	(GDP/P-PotGDP)/PotGDP
16	Real GDP growth rate (% per year)	(DP/P)/GDP/P)
17	GDP deflator (1992 = 100)	P
18	CPI (1982 - 1984) = 100	CPI
19	Inflation (GDPD % per year)	DP/P
20	Inflation (CPI% per year)	DCPI/CPI
21	Labor force (millions)	(N + U)
22	Participation rate (% of labor force)	(N + U)/EAP
23	Average weekly hours	AVHR
24	Unemployment (% of labor force)	U/(N + U)
25	Hourly wage rate ($/h)	W
26	Hourly real wage rate (1992 $/h)	W/P
27	Stock price index (DJIA)	DJIA
28	Long term interest rate (Aaa% per year)	iaaa
29	6 month commercial paper rate (% per year)	i6mth
30	Federal funds rate (% per yr.)	iff
31	3 month Treasury Bill rate (% per year)	itb3
32	Prime rate (% per year)	iprime
33	Current account balance ($ B.)	(X-M)
34	Dollar/yen exchange rate (Y/$)	(Y/$)
35	Government receipts ($ b.)	T
36	Government expenditures ($ b.)	G
37	Government surplus (+) or deficit (-) ($ b.)	(T-G)
38	Government debt ($ b.)	(G-T)
39	Government receipts (% of GDP)	T/GDP
40	Government expenditure (% of GDP)	G/GDP
41	Government surplus (+) or deficit (-) (% of GDP)	(T-G)/GDP
42	Government debt (% of GDP)	D(G-T)/GDP
43	Government real debt (1992 $ b.)	D(G-T)/P
44	Money supply M₁ ($ b.)	M₁
45	Money supply M₂ ($ b.)	M₂
46	M₁ growth rate (% per year)	DM₁/M₁
47	M₂ growth rate (% per year)	DM₂/M₂
48	M₁ velocity (GDP/M₁)	V₁
49	M₂ velocity (GDP/M₂)	V₂
50	Fuel price index (1992 = 100)	FPI
51	Change in fuel prices (% of per year)	DFPI/FPI
52	Real fuel prices (1992 = 100)	FPI/P

	ECON 102 Principles of Macroeconomics -- Section 4 Professor Hylke Van de Wetering


Your course key is: 4P2L-CXC3-L6YX Course Fee: $28.00 USD. To get started in Professor Van de Wetering's class, please do the following: First Time Aplia Users: Connect to http://econ.aplia.com. Complete the Configuration Test. You must have JavaScript and Flash 6 or later to use the site. If you don't, the configuration test will tell you and instructions will follow. Return to the Sign In page and click "Register here." You will be prompted to enter your e-mail address and select a password. You will then be asked to enter your course key (above). You only need to register once. After the registration process is complete, you will not need to enter the course key again. Before entering your course, you will be prompted for payment. There is a 21 day grace period for this course. If your payment has not been received by 01.31.05, you will not be able to access the site until Aplia receives your payment. Please note that you will need to register for your course at least one hour prior to participating in any experiments. Returning Aplia Users: Connect to http://econ.aplia.com. Sign in using your usual e-mail address and password. On your home page click the button "Enroll in a New Course." You will be asked to enter your course key (above). Before entering your course, you will be prompted for payment. There is a 21 day grace period for this course. If your payment has not been received by 01.31.05, you will not be able to access the site until Aplia receives your payment. Please note that you will need to register for your course at least one hour prior to participating in any experiments. You may have an Aplia Payment Code for this course. You will have the option to use this code (which you may have received bundled with a textbook or purchased at the bookstore) when you are prompted for payment. Please remember that once opened, payment codes are not refundable. If you want to switch between courses, use the [Switch Course] link at the top of the screen, or use the "My Account" tab, then click on "My Courses." If you have questions about registering or using the Aplia website, please contact Aplia by clicking the Aplia Support link at the bottom of any Aplia page or by e-mailing support@aplia.com. You will receive a response in one business day.