Course Title & Number Pre/Co-requisite(s) Number of credits Course Description from Catalog Course Learning Outcomes

Principles of Macroeconomics, ECO202 EPT 4 or WRI 001 3 credit hours Introduces the basic principles of macroeconomics, stressing national income, unemployment, inflation, economic growth, business cycles and open economies. After successful completion of this course, students will be able to: Explain the role of supply and demand in a market economy and summarize the conditions necessary for market economies to function efficiently. Describe the benefits of specialization and trade and the unintended cooperation generated by self-interested economic agents. Calculate and interpret important macroeconomic variables such as economic growth, inflation and unemployment. Identify the key ideas associated with various economic schools of thought (Keynesian, Classical and others) and contrast the way in which they influence the formation of public policy. Summarize the determinants of short-run and long-run macroeconomic performance and describe the ways in which public policy can influence the economys performance. Communicate analysis of current and future economic events in writing. This course introduces students to the basic tools, concepts and issues of macroeconomic analysis. The objective of the course is for students to acquire an understanding of the central issues in the analysis of national income determination, unemployment, inflation, economic growth and economic cycles. Understanding the behavior of key macro variables is an important decision making component at the firm level, critical to any business owners or business decision maker. Students who successfully complete this course will be prepared to take intermediate macroeconomics and intermediate macro related courses.

Course Objective

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SBM COURSE SYLLABUS

A B C

Faculty Name Term/ Year Sections

Ismail H. Genc, PhD Fall 2013

CRN 11280

Course ECO202-09

Days MW

Time 11:00 12:15

Location SBM 007

Location subject to change Office S-2103 Telephone +971 6 5152327 Email igenc@aus.edu

Instructor Information

Instructor Ismail H Genc Office Hours*: M 2-4 Or by appointment

Office Hours will be posted on the office door (as well as on iLearn via this syllabus).

Other Instructional Material and Resources

Textbook: R. Frank, B. Bernanke, J. Squalli (2012) Principles of Economics (Middle East Edition). McGraw-Hill. iLearn (Blackboard): All course information, including lectures in PowerPoint format, will be available in iLearn. You will need access to iLearn and it is your responsibility to gain access to it in order to download all materials related to the course; syllabus, lectures, articles, as well as to access your grades. Go to: iLearn.aus.edu Username: same to access your AUS e-mail account Password: same to access your AUS e-mail account If you do not have an AUS e-mail account, you need to get one from the IT department as soon as possible. Additional Material for the Course: For additional material for the course, not required, but recommended, you can visit the following web page, where exams and quizzes are available for practice. http://www.harcourtcollege.com/econ/mankiw/student/macroindex.html

Teaching and Learning Methodologies

This is a lecture-based course. Understanding of the material rather than memorizing it will make you a successful student in economics. You will be evaluated on how much you understand from readings and lectures, studying the text and attending lectures are essential to attaining the objectives of this course. Students are expected to have read the material according to the course outline, before coming to class. Class participation is important in economics; furthermore, I will expect students to be active participants in class discussions.

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SBM COURSE SYLLABUS

Grading Scale, Grading Distribution, and Due Dates

Grading Scale [95 , 100] [90 , 95) [87 , 90) [83 , 87) [80 , 83) Grading Distribution Assessment Mid-Term Exam 1 Mid-Term Exam 2 Quizzes Final Exam Total Weight 25% 25% 20% 30% 100% Due Date Wednesday, March 5, 2014 Wednesday, April 16, 2014 Tentatively weekly TBD by the Registrar Notes 4.0 3.7 3.3 3.0 2.7 A AB+ B B[77 , 80) [73 , 77) [70 , 73) [60 , 70) Less Than 60 2.3 2.0 1.7 1.0 0 C+ C CD F

Explanation of Assessments

You will be given various opportunities and means to show your performance in this course. Thus, as part of the requirements of this course, you are required to complete a few assignments comprising of a variety of activities during the semester: There will be several Pre-Announced (or at times Pop-) Quizzes which are administered in class throughout the semester. These are intended to better prepare you for the tests by encouraging you to study on a timely fashion. Also, they are designed to reinforce the learning of the relatively recent material. Some of the questions or modifications thereof are likely to end up in the examinations. The number of quizzes will be determined by convenience and class needs. There will be NO make-up for the missed quizzes, however! On the other hand, the lowest quiz score if 9 or fewer quizzes are administered (or the lowest two quiz scores if 10 or more quizzes are administered) will be dropped. Furthermore, please note that you are NOT allowed to take a quiz in any section other than you are officially registered. EXAMINATIONS You will take 2 tests during the semester AND a final exam. The final exam may be comprehensive at the discretion of the instructor. AND ALSO the aforementioned activities, such as Quizzes, will contribute to your final score in the course. The relative weight of each item on your final score is presented in the table above in Section G. More detailed instructions about all the activities including the format and the content, etc. will be provided in due course during the semester. Finally, please note that there will be no collected or graded homework assignments in this course other than the ones mentioned above. The final letter grades will be curved rather than taking the absolute grades that you make in the tests and other aforementioned academic activities unless a good portion of the class does not need it.

Student Academic Integrity Code Statement

Students are advised that violations of the Student Academic Integrity Code will be treated seriously and can lead to suspension or dismissal from the university. A notation of the academic integrity code violation can become part of the students permanent record. Academic violations include but are not limited to:

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SBM COURSE SYLLABUS

Plagiarism Inappropriate Collaboration Inappropriate Proxy Dishonesty in Examinations and Submitted Work Work Completed for One Course and Submitted to Another Deliberate Falsification of Data Interference with Other Students Work Copyright Violations Complicity in Academic Dishonesty

Student Responsibilities/ Behavioral Expectations

Students MUST read the Student Academic Integrity Code outlined in the AUS Catalog and agree to abide by the standards for academic conduct, students rights and responsibilities and procedures for handling allegations of academic dishonesty. Attendance, Lateness, and the 15% Rule: Attendance is important! There is a high negative correlation between absences and grades. I expect students to behave maturely and come to class every day. Be punctual; do not come in late as this behavior shows little respect for the instructor and your student colleagues. Your attendance (or lack thereof) does not have a direct impact on your course grade. A regular roll call, however, will be taken for statistical purposes, and also to satisfy the university regulations where the latter require regular reporting of your attendance. Be aware that this may result in a forced withdrawal of your name from the class roster. Specifically speaking, Under university policy, those who miss 15% of the class sessions could be dropped from the course with WF. For more info on that please refer to the Registrars Office. While your attendance per se will not be a determinant of your final course grade, the time honored experience has clearly shown that the opportunity cost of missing a class may be tremendous since anything covered in the class (even if it is not in the textbook or posted class notes) may very well be in the tests! This is mainly so because my exams are very heavily weighted on the material presented in class. My goal is to teach you to think like an economist.to see the world through the eyes of an economist. The university classroom is a crucible that brews critical thinking, which will not occur if you chronically miss class. The textbook is the support base for the material presented in class..not the other way around. The classroom environment is vital for this course. Thus, frequent absences are likely to adversely affect your performance in this course. Also note that you will not necessarily receive an extra credit for attending classes or participating in class discussions. That will, on the other hand, definitely enhance your learning. Another equally important reason why the attendance is so essential is the fact that you are held accountable for any announcements made in the class including, but not limited to, modifications/changes/alterations in the syllabus, if any, as well as other issues indicated in the classroom by the instructor. Missing Classes and/or Exams due to Medical Problems: If you have a medical problem or for the reason of a university excused absence you cant come to class or miss an exam please let me know immediately. It is important to let me know before a test date to get fair treatment if at all possible. Missing an exam without an acceptable written excuse gets you a zero on the exam. Make up finals are given only under rare and special circumstances. No make-up quizzes are given for any reason (personal or medical). You cannot take a quiz or an exam in a section other than your own unless you have my permission, if you do so without my permission, you will get a zero on the quiz or the
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SBM COURSE SYLLABUS

exam regardless of your performance. What is an acceptable written excuse? For Medical Problems: Submit a Doctors written statement explaining that because of your illness you were unable to attend classes and/or have to miss an exam. Doctors excuses must be validated by our clinic on campus. Medical slips are not acceptable. Unofficial Test Appeal Policy: You are allowed to appeal a test score unofficially directly with me without going through the university procedures. To do that, within 1 week of the announcement of the test scores, you have to type an extensive assessment of why you think the grader was not right in the grading of that specific question or the whole test. The extensive typing has to include the absolutely correct answer to prove that you are aware of it, which should be no problem by that time; and how many points the grader should have had to assign for the question(s) in dispute. I reserve the right to regrade the whole test even if only a portion thereof has been disputed. In the meantime, all the rights afforded to you by the university regarding appeals remain intact.

Student Instructor Interaction / Feedback

Students are encouraged to contact the instructor during office hours or via email. The instructor is willing and able to provide additional tutorials to a student who is struggling with the class material. In order to gather feedback for future course improvements, suggestions, comments and concerns regarding any aspect of this course will gladly be accepted, at any time during the semester. In addition, a formal course evaluation will be administered at the end of the semester.

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SBM COURSE SYLLABUS TENTATIVE SCHEDULE

Note: Tests and other graded assignments due dates are set. No addendum, make-up exams, or extra assignments to improve grades will be given. But the lecture dates and their content are tentative and may be rearranged during the semester.

Dates 2/3/2014 2/5/2014 2/10/2014 2/12/2014 2/17/2014 2/19/2014 2/24/2014 2/26/2014 3/3/2014 3/5/2014 3/10/2014 3/12/2014 3/17/2014 3/19/2014 3/24/2014 3/26/2014 3/31/2014 4/2/2014 4/7/2014 4/9/2014 4/14/2014 4/16/2014 4/21/2014 4/23/2014 4/28/2014 4/30/2014 5/5/2014 5/7/2014 5/12/2014 5/14/2014 5/19/2014 5/21/2014

Notes Chapters Topics

Introduction and Course Logistics 1 2 3 3 14 14 15 15 Thinking Like an Economist Comparative Advantage Supply and Demand Supply and Demand Spending, Income and GDP Spending, Income and GDP Inflation and Price Level Inflation and Price Level Wages and Unemployment Economic Growth Economic Growth Saving, Capital Formation and Financial Markets Saving, Capital Formation and Financial Markets The Financial System, Money and Prices

MT1
16 17 17 18 18 19

Off Off
19 20 20 The Financial System, Money and Prices Short-Term Economic Fluctuations Short-Term Economic Fluctuations Aggregate Demand and Aggregate Supply Aggregate Demand and Aggregate Supply Aggregate Demand and Aggregate Supply Macroeconomic Policy Macroeconomic Policy Exchange Rates and the Open Economy Exchange Rates and the Open Economy International Trade and Capital Flows International Trade and Capital Flows Review

MT2
23 23 23 24 24 25 25 26 26

HAVE A GREAT SEMESTER!

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