Outline ECON 1100 DE F19 PDF

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ECON*1100 Introductory Macroeconomics Fall 2019 Section: DE01

Department of Economics and Finance Credit Weight: 0.50

Course Details Calendar Description This course looks at the Canadian Economy in terms of aggregate performance and policy; analysis of the determinants of national income, employment and the price level, and the role of government monetary and fiscal policies in improving the rate of economic growth. Pre-Requisite(s): None Co-Requisite(s): None Restriction(s): None Method of Delivery: Online

Final Exam Date: December 10, 2019 Time: 02:30PM - 04:30PM Location: On campus

Instructional Support Instructor Patrick Martin Email: [email protected] Telephone: (519) 824-4120 Ext. 53537 Office: MacKinnon (MCKN), Room 739 Patrick Martin joined the Department of Economics in 1999. He received a B.A. in Economics from the University of California at Irvine (1976), an M.A. in Economics from Cornell University (1986) and a Ph.D. in Economics from the University of Guelph (2001).

Teaching Assistant(s) Name: TBD Email: [email protected]

Learning Resources Required Textbook Option A: Package Title: Macroeconomics plus MyLab Economics New Design with eText plus Dinner Party Author(s): Glenn P. Hubbard, Anthony P. O’Brien, Apostolos Serletis, & Jason Childs Edition / Year: 2nd Canadian edition, 2017 Publisher: Pearson Education Canada ISBN: 9781323850978 Option B: Title: MyLab Economics New Design with eText for Macroeconomics for University of Guelph -- Standalone Access Card Edition / Year: 2nd edition, 2017 Publisher: Pearson Education Canada ISBN: 9781323802939 Note: Students are responsible for acquiring Dinner Party Economics separately. Option C: All Items Sold Individually

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Title: MyLab Economics New Design without eText for Macroeconomics for University of Guelph -- Electronic Access Code Edition / Year: 2nd edition, 2017 Publisher: Pearson Education Canada ISBN: 9781323802946 Title: Dinner Party Economics Author(s): Eveline J. Adomait and Richard G. Maranta Edition / Year: 2017 Publisher: Pearson Education Canada ISBN: 9781323610947 You may purchase the textbook at the Guelph Campus Co-op Bookstore or the University of Guelph Bookstore. Please note that DE textbooks are located in the Distance Education section of the University of Guelph Bookstore. It is important that if you purchase Option A you do so either through either of the two bookstores listed OR through the Course website at the beginning of the semester. If you have access to used copies of the two required textbooks you will still need to purchase MyEconLab access as it is a REQUIRED course component You can do so through the Course website or at the two listed bookstores. https://guelphcampus.coop/bookstore http://www.bookstore.uoguelph.ca/

Required Resource Title: MyEconLab Access Publisher: Pearson Education Canada Note: MyEconLab Access can be purchased separately or as a bundle with either the hard copy textbook or e-text. MyEconLab stand alone access should be purchased using the MyEconLab link instructions in Courselink once the semester starts. You may purchase the textbook at the Guelph Campus Co-op Bookstore or the University of Guelph Bookstore. Please note that DE textbooks are located in the Distance Education section of the University of Guelph Bookstore. https://guelphcampus.coop/bookstore http://www.bookstore.uoguelph.ca/

Course Website CourseLink (powered by D2L’s Brightspace) is the course website and will act as your classroom. It is recommended that you log in to your course website every day to check for announcements, access course materials, and review the weekly schedule and assignment requirements. https://courselink.uoguelph.ca

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Ares For this course, you will be required to access course reserve materials through the University of Guelph McLaughlin Library. To access these items, select Ares on the navbar in CourseLink. Note that you will need your Central Login ID and password in order to access items on reserve. For further instructions on accessing reserve resources, visit How to Get Course Reserve Materials. If at any point during the course you have difficulty accessing reserve materials, please contact the e-Learning Operations and Reserve Services staff at: Tel: 519-824-4120 ext. 53621 Email: [email protected] Location: McLaughlin Library, First Floor, University of Guelph http://www.lib.uoguelph.ca/find/find-type-resource/course-reserves-ares/how-getcourse-reserve-material

Learning Outcomes Course Learning Outcomes In this course, we will be building on the concepts that were presented in Introductory Microeconomics and extending our study to such topics as national income, employment, the price level and the role of government fiscal and monetary policies. More than this though, we will try to develop a “method of thinking” about everyday problems in order to better understand some of the controversies that exist in the Canadian economy today. This course also looks at the Canadian Economy in terms of aggregate performance and policy. By the end of this course, you should be able to: 1. Recognize macroeconomic concepts including GDP, price indices, growth, exchange rates, interest rates, money multipliers, expenditure multipliers, balance of payments, budget balances, trade balances and productivity measures; 2. Measure economic activity including inflation, GDP, unemployment, savings, and balance of payments; 3. Interpret expansionary and inflationary gaps, economic booms and recessions, and distinguish between short-run and long run macroeconomic outcomes; 4. Analyze and interpret economic models such as the foreign exchange market model, the loanable funds market model, the aggregate expenditure model, and the AD/AS model;

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5. Analyze financial markets including the foreign exchange market, the money market, and the bond market; 6. Explain and give examples of monetary, fiscal, and exchange rate policy; 7. Justify an opinion on the role of government with respect to the values of Canadian macroeconomic indicators; and 8. Interpret Canadian economic performance in a historical and global context.

Teaching and Learning Activities Course Structure •

Unit 01: Introduction to Macroeconomics: How Markets Work

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Unit 02: Macroeconomic Indicators and their Measurement

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Unit 03: Economic Growth

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Unit 04: The Economy in the Short Run

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Unit 05: Monetary and Fiscal Policy

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Unit 06: Macroeconomics in an Open Economy

Schedule It is strongly recommended that you follow the course schedule provided below. The schedule outlines what you should be working on each week of the course and lists the important due dates for the assessments. By following the schedule, you will be better prepared to complete the assessments and succeed in this course. Unit 01: Introduction to Macroeconomics: How Markets Work Week 1 – Thursday, September 5 to Sunday, September 15 Readings •

Website: Unit 01 Content

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Textbooks: o

Macroeconomics – Chapters 1 and Appendix A, and 2 (section 2.1 only)

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Dinner Party Economics – Chapters 1-3

Activities •

Familiarize yourself with the course website by reviewing the Start Here section of the course.

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Review the Outline and Assessments sections on the course website to learn about course expectations, assessments, and due dates.

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Introduce yourself in the Introductions Discussion.

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Register for MyEconLab

Week 2 – Monday, September 16 to Sunday, September 22 Readings •

Website: Unit 01 Content

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Textbooks: o

Macroeconomics – Chapter 3

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Dinner Party Economics – Chapters 4-6

Assessments • MyEconLab Assignment 1 Due: Tuesday, September 17 by 11:59 pm ET • MyEconLab Assignment 2 Due: Friday, September 20 by 11:59 pm ET Unit 02: Macroeconomic Indicators and their Measurement Week 3 – Monday, September 23 to Sunday, September 29 Readings •

Website: Unit 02 Content

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Textbooks: o

Macroeconomics – Chapters 4 and 5 (sections 5.1, 5.2, and 5.3)

o

Dinner Party Economics – Chapters 7-9

Assessments • Test 1 Opens: Monday, September 23 at 12:01 am ET Closes: Sunday, September 29 at 11:59 pm ET • MyEconLab Assignment 3 Due: Friday, September 27 by 11:59 pm ET Unit 02: Macroeconomic Indicators and their Measurement And Unit 03: Economic Growth

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Week 4 – Monday, September 30 to Sunday, October 6 Readings •

Website: Unit 02 and Unit 03 Content

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Textbooks: o

Macroeconomics – Chapters 5 (sections 5.4, 5.5, 5.6, and 5.7) and 6

o

Dinner Party Economics – Chapters 9-12

Assessments • MyEconLab Assignment 4 Due: Friday, October 4 by 11:59 pm ET Unit 03: Economic Growth Week 5 – Monday, October 7 to Sunday, October 13 Readings •

Website: Unit 03 Content

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Textbooks: o

Macroeconomics – Chapter 7

Assessments • Test 2 Opens: Monday, October 7 at 12:01 am ET Closes: Sunday, October 13 at 11:59 pm ET • MyEconLab Assignment 5 Due: Friday, October 11 by 11:59 pm ET Unit 04: The Economy in the Short Run Week 6 – Monday, October 14 to Sunday, October 20 Readings •

Website: Unit 04 Content

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Textbooks: o

Macroeconomics – Chapter 8 and Appendix C

Assessments • Submit PEAR Assignment to Pearson Tutor Services (MyEconLab) Due: Wednesday, October 16 at 11:59 pm ET

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• MyEconLab Assignment 6 Due: Friday, October 18 by 11:59 pm ET Week 7 – Monday, October 21 to Sunday, October 27 Readings •

Website: Unit 04 Content

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Textbooks: o

Macroeconomics – Chapter 9 and Appendix D

Assessments • Test 3 Opens: Monday, October 21 at 12:01 am ET Closes: Sunday, October 27 at 11:59 pm ET • MyEconLab Assignment 7 Due: Friday, October 25 by 11:59 pm ET Unit 05: Monetary and Fiscal Policy Week 8 – Monday, October 28 to Sunday, November 3 Readings •

Website: Unit 05 Content

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Textbooks: o

Macroeconomics – Chapter 10

Assessments • PEAR Assignment (submit first to Turnitin Dropbox, then to PEAR tool) Due: Wednesday, October 30 at 11:59 pm ET Note: Release of PEAR assignments for review will be Friday, November 1 at 4:00 pm ET • MyEconLab Assignment 8 Due: Friday, November 1 by 11:59 pm ET Week 9 – Monday, November 4 to Sunday, November 10 Readings •

Website: Unit 05 Content

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Textbooks: o

Macroeconomics – Chapter 11

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Assessments • Test 4 Opens: Monday, November 4 at 12:01 am ET Closes: Sunday, November 10 at 11:59 pm ET • MyEconLab Assignment 9 Due: Friday, November 8 by 11:59 pm ET Week 10 – Monday, November 11 to Sunday, November 17 Readings •

Website: Unit 05 Content

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Textbooks: o

Macroeconomics – Chapter 12 and Appendix E

Assessments • PEAR Assignment Reviews (submit reviews using PEAR submission Tool) Due: Wednesday, November 13 by 11:59 pm ET • MyEconLab Assignment 10 Due: Friday, November 15 by 11:59 pm ET Week 11 – Monday, November 18 to Sunday, November 24 Readings •

Website: Unit 05 Content

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Textbooks: o

Macroeconomics – Chapter 13

Assessments • MyEconLab Assignment 11 Due: Friday, November 22 by 11:59 pm ET • Test 5 Opens: Monday, November 18 at 12:01 am ET Closes: Sunday, November 24 at 11:59 pm ET Unit 06: Macroeconomics in an Open Economy Week 12 – Monday, November 25 to Friday, November 29 Readings •

Website: Unit 06 Content

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Textbooks: o

Macroeconomics – Chapter 14, Chapter 15 pp. 414-421

Assessments • MyEconLab Assignment 12 Due: Friday, November 29 by 11:59 pm ET

Assessment The grade determination for this course is indicated in the following table. A brief description of each assessment is provided below. Select Content on the navbar to locate Assessments in the table of contents panel to review further details of each assessment. Due dates can be found under the Schedule heading of this outline. Note that MyEconLab is a required course component. You still need to purchase it as it is necessary for submission of your PEAR assignment. Table 1: Course Assessment Using MyEconLab

Assessment Item

Weight

PEAR Assignment

8%

MyEconLab Quizzes

10%

Tests

27%

Final Exam

55%

Total

100%

Table 2: Course Assessment Without Use of MyEconLab

Assessment Item

Weight

PEAR Assignment

10%

Tests

30%

Final Exam

60%

Total

100%

Assessment Descriptions Page 10 of 22

PEAR Assignment The PEAR Assignment is a three-step process requiring you to submit a draft of your essay to Pearson Tutor Services, to the TurnItIn Dropbox, and then to PEAR for peer evaluation. Details about resources available, assessment details, and submission instructions can be found by clicking on Contents in the navigation bar on your course homepage, selecting Assessments from the left-hand menu, and then selecting the PEAR Assignment. MyEconLab Quizzes There are 12 graded MyEconLab quizzes during the semester; your lowest two quiz marks will be dropped. You can access the quizzes through MyEconLab in the Tools dropdown menu. There are two non-graded math review quizzes that allow you to review the mathematics used in the course. The graded quiz content is as follows. Note there is not a MyEconLab graded quiz for the Chapter 15 readings. Quiz 1 – Chapters 1 and 2 (section 2.1 only) Quiz 2 – Chapters 3 Quiz 3 – Chapters 4 and 5 (sections 5.1 – 5.3) Quiz 4 – Chapters 5 (sections 5.4. – 5.7) and 6 Quiz 5 – Chapter 7 Quiz 6 – Chapter 8 Quiz 7 – Chapter 9 Quiz 8 – Chapter 10 Quiz 9 – Chapter 11 Quiz 10 – Chapter 12 Quiz 11 – Chapter 13 Quiz 12 – Chapter 14 Tests There will be 5 online tests, including 1 ungraded practice test. Of the 4 graded tests, your best 3 tests will contribute to your final grade. Note that there is not a graded test on the Chapter 1 ,2, 3, 14 and 15 readings – but you are responsible for those chapter readings for the final exam. Tests are 60 minutes long. Test coverage is as follows: •

Test 1 - Chapters 4 and 5 Hubbard et. al. (practice test - doesn't count toward overall test mark)

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Test 2 - Chapters 6 and 7 Hubbard et. al.

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Test 3 - Chapters 8 and 9 Hubbard et. al.

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Test 4 - Chapters 10 and 11 Hubbard et. al.

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Test 5 - Chapters 12 and 13 Hubbard et. al.

In each test 18 questions, from each of two chapters covered, are chosen randomly for a test bank that is organized by level of difficulty. Every student gets a test with similar coverage and similar level of difficulty. Final Exam This course requires you to write a traditional sit-down final exam. Final exams are written on campus at the University of Guelph or at alternate locations for students at a distance. It is very important to note that you must pass the final examination in order to pass this course. The final examination will be multiple choice (and hence similar to the MyEconLab quizzes and the five online tests) and will cover All of the course readings. The majority of the questions (90% or higher) will be taken from the Hubbard et al. textbook with the remainder being taken from the Adomait and Maranta textbook. Note that you must receive at least a 50% on the final exam to pass this course. If you do not pass the final exam your course mark will be your final exam mark or your cumulative average using the higher mark from grading scheme 1 or 2, whichever is lower. (For example, if your final exam mark is a 45, your cumulative average using scheme 1 is a 52 and using scheme 2 is a 54, you will receive a 45 in the course. If your final exam mark is a 45, your cumulative average using scheme 1 is a 40 and using scheme 2 is a 38, you will receive a 40 in the course.) If you pass the final exam with a 50% or higher you will pass the course. If your cumulative average using the higher mark from grading scheme 1 or 2 is less than a 50%, and you pass the final with a 50% or higher, your final mark will be a 50. If your cumulative average is greater than 50% using the higher mark from grading scheme 1 or 2, and you pass the final exam with a 50% or higher, your final mark will be your cumulative average. (For example, if your final exam mark is a 60 and your cumulative average obtained by taking the greater of scheme 1 or 2 is a 45, you will receive a 50 in the course. If your final exam mark is a 60 and your cumulative average obtained by taking the greater of scheme 1 or 2 is a 66 you will receive a 66 in the course.) It is assumed that all DE students will be writing their final examination on campus at the University of Guelph. University of Guelph degree and associate diploma students must check WebAdvisor for their examination schedule. Open Learning program students must check the Open Learning Program Final Examination Schedule for their examination schedule. If you are studying at a distance, you can request to write your final exam at an alternate location. It is recommended that you make arrangements as early as possible in the semester since changes cannot be guaranteed after the deadline. Exam schedules for off-campus exams will be emailed by Week 9 of the course. For more information, please visit Final Exams. https://webadvisor.uoguelph.ca http://opened.uoguelph.ca/student-resources/Open-Learning-Program-Final-ExamSchedule

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http://opened.uoguelph.ca/student-resources/final-exams

Course Technologies and Technical Support CourseLink System Requirements You are responsible for ensuring that your computer system meets the necessary system requirements. Use the browser check tool to ensure your browser settings are compatible and up to date. (Results will be displayed in a new browser window). http://spaces.uoguelph.ca/ed/system-requirements/ https://courselink.uoguelph.ca/d2l/systemCheck

Technical Skills As part of your online experience, you are expected to use a variety of technology as part of your learning: •

Manage files and folders on your computer (e.g., save, name, copy, backup, rename, delete, and check properties);

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Install software, security, and virus protection;

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Use office applications (e.g., Word, PowerPoint, Excel, or similar) to create documents;

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Be comfortable uploading and downloading saved files;

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Communicate using email (e.g., create, receive, reply, print, send, download, and open attachments);

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Navigate the CourseLink learning environment and use the essential tools, such as Dropbox, Quizzes, Discussions, and Grades (the instructions for this are given in your course);

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Access, navigate, and search the Internet using a web browser (e.g., Firefox, Internet Explorer); and

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Perform online research using various search engines (e.g., Google) and library databases.
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