Econ 2301 Study Guide

Topics: Macroeconomics, Monetary policy, Economics Pages: 6 (1095 words) Published: August 8, 2013
ECON 2301: Principles of Macroeconomics


ECON 2301 Principles of Macroeconomics Time: Th 7:05 pm – 9:45 pm Synonym: 40512 Section: 023 Room: NRG2 2120

Instructor: Gregory Hennessy Office: NRG PB3 Hours: Th 6:30 pm – 7:00 pm Th 9:45 pm – 10:15 pm And by appointment Phone: Email:

Course Description Principles of Macroeconomics deals with consumers as a whole, producers as a whole, the effects of government spending and taxation policies, and the effects of the monetary policy carried out by the Federal Reserve Bank. Macroeconomics is concerned with unemployment, inflation, and the business cycle. Text Required: Macroeconomics, Roger A. Arnold, 7th Edition, 2005 Recommended: Macroeconomics Study Guide, Roger A. Arnold, 7th Edition, 2005 Instructional Methodology Students will learn through a combination of lecture, discussion, and small group exercises. Course Rationale This course is meant to give students insight into the dynamics of our national economy. The knowledge gained in this course will make students more informed citizens and allow them to follow the debates over national economic policy reported in the media. This course is also a foundation course that will prepare students to be successful in upper division finance, marketing, business administration, economics, government and social work courses. Common Course Objectives / Student Outcomes As established by the Department of Economics, students who complete this course will be able to understand: - the meaning of unemployment and inflation data, and how that data is collected and computed; - the meaning and components of the National Income Accounts, especially GDP; - the meaning of the business cycle and its phases; - and manipulate the basic Aggregate Supply, Aggregate Demand model of the macro economy, - how fiscal policy operates, its tools, and its advantages and drawbacks; - how a fractional reserve banking system works; and - how monetary policy operates, its tools, and its advantages and drawbacks.

Austin Community College

Fall 2006

Department of Economics

ECON 2301: Principles of Macroeconomics


Course Organization We will cover the first 14 chapters of the textbook, divided into 3 “Parts” as indicated by the course calendar and summarized here: - Part 1: Chapters 1-4 - Part 2: Chapters 5-9 - Part 3: Chapters 10-14 Course Evaluation / Grading System There will be a quiz at the start of each chapter and an exam at the end of each Part. You will earn four (4) scores: three exam scores and one quiz score (based upon the sum of points earned on quizzes throughout the semester). Each student’s lowest score will be automatically dropped, and the remaining three (3) scores will be averaged. Exams Exams are comprehensive tests of your mastery of each Part’s content. Each exam will have a section of multiple choice (usually accounting for approximately 1/3rd of the total points on the exam) and a section for short essay answers and problem solving. There will be three exams during the semester – one at the end of each Part – and their dates appear on the course calendar. Make up exams WILL NOT be given – use your option to drop one (1) grade! If you have more than one schedule conflict you should consider retaking this course when you have the time necessary to devote to this course. You must remain in the classroom until you complete the exam. Leaving the classroom for any reason will result in immediate termination of the examination, and the exam will be graded as-is. Quizzes Quizzes are multiple-choice tests over an individual chapter. They will be given at the start of class, as shown on the course calendar. Quizzes CANNOT be made up. Course Policies Attendance / Participation Attendance and class participation is vital to your education and that of your classmates. You should come to every class having prepared appropriately. All students are expected to participate everyday in class discussion, small group...
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