Section 03
Fall I, 2001
Webster University
Thursday 5:30-9:30

Intructor: Dr. Allan MacNeill
Office: H. Sam Priest House 210
Phone: (314) 968-7489
Fax: (314) 968-7403
macneiam@webster.edu

Course Description: This course is an introduction to mainstream macroeconomic theory. It covers topics such as aggregate economic activity and growth, the determination of national income, employment and output, aggregrate demand and supply, money and banking, and monetary and fiscal policies. By the end of the course students should have a more critical understanding of both economic theory and the consequences of different economic policies.

Text: Irwin B. Tucker. Economics for Today. 2^nd edition.

Other short readings may be handed out in class. In addition to completing the assigned readings for each class, it is highly recommended that each student follow current economic events in the Wall Street Journal, The Economist and/or the New York Times.

Students may also find the following websites interesting and helpful.

The textbook publisher's economics page: economics.swcollege.com
Tucker Economics web site: tucker.swcollege.com
The Economist magazine: economist.com
Economic Policy Network: epn.org/idea/economy.html
Resources for Economists: rfe.wustl.edu/EconFAQ.html
Bureau of Labor Statistics (inflation, unemployment data): www.bls.gov/newsrel
Bureau of Economic Analysis (GDP): www.bea.doc.gov
The Dismal Scientist: www.dismal.com
Left Business Observer: www.panix.com/~dhenwood/LBO_home.html
The Cato Institute: www.cato.org
The Brookings Institution: www.brook.edu
Jerome Levy Economics Institute: www.levy.org
Federal Reserve: federalreserve.gov

Exams and Grading: There will be two in-class "mini-exams," a take-home midterm, and an in-class final exam. Students are also expected to participate in class disscussions and occasional in-class projects. The approximate weights of each requirement are:

mini-exams....................30%
participation..................10%
midterm.........................30%
final...............................30%

Course Schedule

Aug. 23 Introduction and Overview

Chs. 1, 2

Aug. 30 Supply and Demand; International Trade and Finance

Chs. 3, 4 (pp. 83-87), 28

Sept. 6 Gross Domestic Product; Inflation and Unemployment

Chs. 15-17

mini-exam #1 (covers chs. 1-3, 28)

Sept. 13 The Keynesian Model

Chs. 18, 19

Sept. 20 Aggregate Demand and Supply, Fiscal Policy

Chs. 20, 21

Midterm due (covers chs. 1-4, 15-19, 28)

Sept. 27 Tax Policy, Deficits, Surpluses and Debts

Chs. 22, 23

mini-exam #2 (covers chs. 18-21)

Oct. 4 Money, The Federal Reserve, and Monetary Policy

Chs. 24-26

Oct. 11 Current Issues and Debates

Ch. 27

Final Exam

Academic Dishonesty: Any student caught cheating or committing plagiarism will receive a failing grade for the course and may be subject to further disciplinary action.