Syllabus :: ECO 2013 (Principles of Macroeconomics)

Dr. Thomas Knight Spring 2017

Office Hours Time: M/W 1:00-2:00pm Course Time: T/R 11:45a-1:40p
Office Hours Location: MAT 340 Course Location: HVNR 140
Course Website: http://lss.at.ufl.edu Email: thomas.knight@ufl.edu

Required Text: 1) “Macroeconomics” by Michael Parkin

2) MyEconLab access key
Extra Credit Companion: 1) Connect Master by Carlos Asarta and Roger Butters

COURSE DESCRIPTION
Principles of Macroeconomics is intended to introduce students to the current
understanding and relevant issues of the macroeconomy. We will develop a solid foundation of the
microeconomic underpinnings that comprise the macroeconomy. Within that microeconomic
framework, we will examine the effects of government intervention in individual markets and
consider both efficiency and distributional effects. We will develop a thorough understanding of the
macroeconomy, looking closely at GDP growth, unemployment, inflation, and business cycles. We
will examine the models used by economists to depict the macroeconomy and use these models to
examine monetary and fiscal policy. Finally, we will examine the international financial system and
exchange rate fluctuations and exchange rate policies.

ECO 2013 WITHIN THE GENERAL EDUCATION CURRICULUM

Social and behavioral science courses provide instruction in the history, key themes,
principles, terminology, and underlying theory or methodologies used in the social and behavioral
sciences. Students will learn to identify, describe and explain social institutions, structures or
processes. These courses emphasize the effective application of accepted problem-solving
techniques. Students will apply formal and informal qualitative or quantitative analysis to examine
the processes and means by which individuals make personal and group decisions, as well as the
evaluation of opinions, outcomes or human behavior. Students are expected to assess and analyze
ethical perspectives in individual and societal decisions
To support the General Education curriculum of the university, this course aims to
familiarize you with macroeconomics in way that informs you as a citizen, developing your ability
to think critically and to employ economic concepts to understand and describe the society in which
we live. I will focus heavily on the distributional implications of different macroeconomic situations
and public polices, constantly keeping an eye on how the situations of particular individuals or
groups may be affected. While I will refrain from sharing my own personal views, I will facilitate
an open debate in which we can explore ethical and judgment-based positions.
This course will adopt the Student Learning Outcomes (SLOs) that have been developed
and adopted for the General Education curriculum:
Content: Students demonstrate competence in the terminology, concepts, theories and
methodologies used within the discipline.
Communication: Students communicate knowledge, ideas and reasoning clearly and
effectively in written and oral forms appropriate to the discipline.
Critical Thinking: Students analyze information carefully and logically from multiple
perspectives, using discipline-specific methods, and develop reasoned solutions to problems.
Success with these stated SLOs will be assessed through three proctored exams, ten (of twelve)
weekly online quizzes, and graded participation in four (of six) online discussion boards.
COURSE DELIVERY
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ECO 2013 is an electronic platform (EP) class. This means the lectures are given live in Heavener
Hall, Room 140 every Tuesday and Thursday (per the schedule on Pages 7 and 8 of this syllabus)
and recorded. These lecture recordings are then made available online, usually within two hours of
the live lecture ending, to all students. Login to Canvas at http://lss.at.ufl.edu to access the lecture
videos. I highly recommend attending the live lecture if you can. You will be able to interrupt the
instructor to ask questions while they are fresh in your mind.

Do not confuse this method of delivery with a truly online class. ECO 2013 blends online and live
delivery. Students can watch lectures and complete some tasks online, but there is a set schedule of
due dates that will be adhered to. Students must also still sit for live exams on the UF campus if
they are not enrolled through UF Online. Students enrolled through UF Online must take exams in
Canvas while using the ProctorU testing service. See the Exams section for more details.

COURSE COMMUNICATIONS
Announcements concerning the class will typically be made during lecture and by email.
You are responsible for all information made available through both of these avenues of
communication. I will attempt to communicate important information through both of these
avenues, but it is assumed that you are watching each lecture in a timely fashion (during the week
in which each is given) and that you are regularly reading your email.
Most of our one-on-one communication will occur via email. There are two important
policies to remember when corresponding with me (or the Teaching Assistants) via email: 1) I
promise to return all emails within 48 hours…and bind the TAs to this policy as well. If you do not
receive a timely response (i.e., within 48 hours), please attempt to contact me again. 2) Make sure
that all emails that you send follow basic rules for professional correspondence. If you are unsure of
what constitutes professionalism, feel free to ask…or simply err on the side of caution.

TA Office Hours
Teaching Assistants will hold office hours Monday through Thursday, 12:00-6:00pm, in Heavener
Hall 202. These office hours will begin on January 12th, and run until the last day of classes. I will
attempt tom schedule some TA office hours during Reading Days and the Final Exam Week, but I
cannot always get this accomplished. The TAs also have their own exams to take.

Please be proactive about taking advantage of these office hours. They are essentially free tutoring
services, and these office hours are rarely busy during weeks in which there is no exam. This is a
great opportunity to review old quizzes and practice questions.

DISCUSSION POSTS
You are required to participate in four of the six module discussion boards. The six discussion
boards each close at 10pm on the final Friday of that module – except Discussion Post 6, which
closes on the last day of classes, a Wednesday.

Discussion board posts are expected to be at least 150 words and address the value-based (i.e.,
normative) questions that are attached to the EconGuy videos posted in Canvas course site. These
posts will be evaluated by the TAs in accordance with the rubric discussed in class.

DISCUSSION POST CLOSES AT…

Discussion Post 1 Friday, January 27, 10:00pm
Discussion Post 2 Friday, February 10, 10:00pm
Discussion Post 3 Friday, March 3, 10:00pm
Discussion Post 4 Friday, March 24, 10:00pm
Discussion Post 5 Friday, April 14, 10:00pm
Discussion Post 6 Wednesday, April 19, 10:00pm
QUIZZES

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There are 12 short quizzes that are to be completed in the text’s online companion, MyEconLab
(MEL). The due date and time for each quiz is listed below and in the course schedule section of
this syllabus. Each quiz may only be attempted once. Once the quiz due date/time passes, the
completed quizzes will be available under the “Results” tab within the MyEconLab system. You
will be able to review your answers and print each quiz. At the end of the semester, the 2 lowest
quiz scores will be dropped. Each of the 10 remaining scores will be equally weighted to determine
your overall quiz average.

QUIZ OPEN DATE AND TIME CLOSE DATE AND TIME

Quiz 1 Thursday, January 5, 3:00pm Monday, January 9, 8:00am
Quiz 2 Thursday, January 12, 3:00pm Tuesday, January 17, 8:00am
Quiz 3 Thursday, January 19, 3:00pm Monday, January 23, 8:00am
Quiz 4 Thursday, January 26, 3:00pm Monday, January 30, 8:00am
Quiz 5 Thursday, February 2, 3:00pm Monday, February 6, 8:00am
Quiz 6 Thursday, February 16, 3:00pm Monday, February 20, 8:00am
Quiz 7 Thursday, February 23, 3:00pm Monday, February 27, 8:00am
Quiz 8 Thursday, March 2, 3:00pm Monday, March 13, 8:00am
Quiz 9 Thursday, March 16, 3:00pm Monday, March 20, 8:00am
Quiz 10 Thursday, March 30, 3:00pm Monday, April 3, 8:00am
Quiz 11 Thursday, April 6, 3:00pm Monday, April 10, 8:00am
Quiz 12 Thursday, April 13, 3:00pm Monday, April 17, 8:00am

QUIZ MAKE-UP POLICY

Given the amount of time that each quiz is available and a student’s ability to drop the lowest 2
scores, no extensions or exemptions will be granted. Students assume all the risk associated with
local system and network outages. The only time I am likely to grant an extension is when the
publisher confirms a system-wide issue. This almost never happens.

It is my STRONG recommendation that you complete all quizzes if you want to earn the highest
possible grade in this course. I have two reasons for this. First, if you have trouble with one or two
of the quizzes (e.g., you get a 65% on each), you can drop both quizzes if you attempted all other
quizzes. Second, it is possible that you will encounter a computer or network error on one of the
last quizzes and get a zero. Having the cushion of being able to drop that quiz will be very helpful.

REGISTERING FOR MyEconLab

Please review the first lecture that is posted in Canvas. You can purchase MyEconLab access
(individually or with an etext) by clicking the MyEconLab link in the left-hand toolbar of the
Canvas coursesite. You can also purchase a hardcopy of the textbook in the UF Bookstore. You
CANNOT use a MyEconLab code purchased elsewhere.

EXAMS
All regularly scheduled exams will be multiple choice, closed book/closed note exams given on-
campus (or online for UF Online students) on three specific dates. The dates and times for each on-
campus exam are listed below. Locations will be announced by email the week prior to each exam.
Due to the size of this class, the exam is taken in multiple rooms at the same time. It is important
that you follow the instructions that will be sent out via email carefully, because you will be
assigned to a specific room.

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Non-programmable, four-function and scientific calculators are allowed; no other calculators are
allowed. You may not use a graphing calculator or any device with communications abilities. The
use of cell phones, PDAs, or any other programmable device during an exam is not allowed and
violating this policy will constitute a violation of the University of Florida Student Honor Code.

You will be allowed to use a 3-inch x 5-inch index card on each exam. This notecard must be hand-
written on an index card and made by you. You cannot use a typed index card. I have allowed this
in the past, but many concerns of cheating arose. Any use of a notecard that does not follow these
conditions will constitute a violation of the University of Florida Student Honor Code.

Each test will be curved to ensure a class average of 74%. If the class average is below 74%, I will
add the required number of points to each test to bring up the average grade. I will not subtract
points if the class average exceeds 74%.

Exam 1 Thursday, February 9 8:20pm

Exam 2 Thursday, March 23 8:20pm
Exam 3 Monday, April 24 5:30pm

Any unexcused absence from an exam (e.g., because you thought you were supposed to take an
online exam) will result in a zero for that exam. If you arrive late to an exam, you may be denied
the ability to take the exam; if you are allowed to take the exam, you will not be given extra time to
finish.

UF ONLINE (SECTIONS 0346 and 1F39) ONLY: REGISTERING FOR PROCTORU

Students that are enrolled in UF Online (Sections 0346 and 1F39) have the opportunity to take their
exams online. Traditional on-campus students do not have this option. Online exams are proctored
by ProctorU. It is your responsibility to register with ProctorU in a timely fashion and to meet their
posted terms and conditions.

Sign up for an account with ProctorU during the first week of the semester. If you already have a
ProctorU account, you can use the same account. Register with ProctorU for your exam
appointment times early in the semester. You must sign up at least 72 hours before an exam.
Failure to do so will result in additional fees and reduce the likelihood that you are able to sit for an
exam. You should receive a confirmation email from ProctorU. If you experience any trouble with
online registration, call 855-772-8678.

Prior to each exam, go to the ProctorU Test Page to ensure your computer is ready for online
proctoring. After you get the 6 checks that your system is ready:

Take the extra step to connect to a live person:

This process takes just a few minutes and is completely free. If you are unable to take an exam
because of a technical glitch on your end, that is your responsibility. However, if you do experience
technical difficulties during the exam, ProctorU will document those difficulties and communicate
with your instructor to make alternative arrangements.
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EXAM MAKE-UP POLICY
There are few valid reasons to miss an exam in this class. Midterm dates and times are announced
far enough in advance for students to clear up conflicts without my involvement. If conflicts
between your personal life and the exam schedule occur, the exam schedule takes priority. When
academic or religious conflicts exist or emergencies arise, make-up exams may be provided.

In the case of known conflicts and all non-emergency illnesses/issues, permission must be obtained
five days before the test date in order for you to secure a make-up opportunity. Make-up requests
may be sent to my email address, thomas.knight@ufl.edu. If I do not respond in 48 hours, assume
that I have not seen your request.

Emergencies will be handled on a case-by-case basis. If an exam is missed, and a make-up exam is
offered, it is the student’s responsibility to take the make-up at the university-assigned make-up
exam time at the end of the term. Given the size of this class and the assembly exam format, one-on-
one make-up exams are rarely possible. Makeup exams are not subject to the curving policy
described on the previous page. They will not be curved.

Any unexcused absence from an exam (e.g., because you thought you were supposed to take an
online exam) will result in a zero for that exam.

GRADING POLICY AND SCALE

Grades are calculated as follows:
Exam 1 24%
Exam 2 24%
Exam 3 24%
Quiz Average 20%
Discussion Posts 8%

The following scale will be used to determine your final course grade:
92.50-100 A 77.50-79.99 C+
90.00-92.49 A- 72.50-77.49 C
87.50-89.99 B+ 70.00-72.49 C-
82.50-87.49 B 65.00-69.99 D
80.00-82.49 B- 0-64.99 E

Sample Grade Calculation: A student receives a 89% average on their

“Best 10” Quizzes, a 75% on Exam 1, a 94% on Exam 2, an 88% on Exam
3, and a 100% on their online posts. The student’s grade is calculated as:

0.2(90)+0.24(75)+0.24(94)+0.24(88)+0.08(100)=87.48%

The student has earned 87.48% of the available points for the course and
receives a B in the course.

The scale listed above is firm. Students should assume that 92.49 is followed by an infinite number
of nines and the rest of the cut-offs follow accordingly. No matter how close you may be to the next
higher grade, I cannot change your grade. Although I will gladly review your grade to make sure
you are evaluated fairly, I will not round final grades or offer extra credit at the end of the term.

A detailed description of UF grading policies can be found at:

https://catalog.ufl.edu/ugrad/current/regulations/info/grades.aspx

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EXTRA CREDIT (ConnectMaster)
All students can opt to complete regular, almost-weekly homework assignments for this course to
receive extra credit. Students must purchase access to ConnectMaster, which will be discussed
during the first week of the course, and complete assignments for extra credit. These assignments
are less rigorous than exam questions, but they are great practice for the course quizzes and exams.
They are adaptive, meaning that they adjust themselves to focus on the topics with which you are
struggling most. Moreover, they are accompanied by short lecture videos which reinforce the
course material. These videos are available in English and Spanish.

If you receive 100% on ten (of seventeen) assignments, you will receive one point on your final
course grade. If you receive 100% on fifteen (of seventeen) assignments, you will receive two points
on your final course grade.

This is an opportunity to secure extra credit, but more importantly, the practice of
completing these assignments should enhance your understanding of the course material,
and thus, lead to higher grades on the assigned quizzes and exams. My only reason for not
assigning ConnectMaster to all students is that it is costly, and I do not want you to be
required to spend additional money to get a 100% in this course.

SPECIAL NEEDS AND GENERAL COMMENTS ON WELLNESS

If you are a student with special needs and you require additional resources to participate
successfully in this course, please contact me during the first week of classes. The Dean of Students
provides special accommodations for students when they are necessary. After you obtain approval
from the Dean of Students, the approval paperwork will be forwarded to me and accommodations
will be arranged.

College is an exciting learning experience and a unique opportunity for personal growth. It can,
however, also be a stressful and difficult transitionary period. If you are ever having general issues
with your coursework in any course or trouble in your personal life, please seek help from myself or
another faculty member. I also encourage you to utilize the FREE and ANONYMOUS services of
the UF Counseling and Wellness Center.

ACADEMIC HONESTY
You are expected to abide by the University’s rules for academic honesty. These are available for
your review at http://www.dso.ufl.edu/judicial/academic.php. Cheating, plagiarism, and any other
action that violates these rules will be prosecuted to the fullest extent. It should be noted that
creating an excuse to take a make-up exam that cannot be verified constitutes cheating under the
University guidelines.

NOTE ON END-OF-TERM COURSE EVALUATIONS

At the end of each term, you have the ability to evaluate the quality of each of your courses
and the effectiveness of your instructors. I encourage you to take this opportunity seriously
and to provide serious and informative feedback. Personally, I am always trying to
improve my course – tweaking it bit-by-bit each term – and student feedback is essential to
making real improvements. As the term nears an end, I will discuss this issue (numerous
times) in lecture, as I believe the high quality of your education depends on your
constructive criticism and affirming support. You can access end-of-term course
evaluations as http://evaluations.ufl.edu.

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 COURSE SCHEDULE
Module 1: Microeconomic Foundations
Week 1:
Jan. 5: Introduction & Syllabus
Quiz 1 (Opens at 3pm)
Week 2:
Jan. 10: Chapter 2 (The Economic Problem)
Jan. 12: Chapter 2 (The Economic Problem)
Quiz 2 (Opens at 3pm)
Week 3:
Jan. 17: Chapter 3 (Demand and Supply)
Jan. 19: Chapter 3 (Demand and Supply)
Quiz 3 (Opens at 3pm)
Week 4:
Jan. 24: Appendix: Chapter 6 (Government Actions in Markets)
Jan. 26: Appendix: Chapter 6 (Government Actions in Markets)
Quiz 4 (Opens at 3pm)

DISCUSSION POST 1 AND CONNECT MASTER CLOSE 1/27 at 10PM

Module 2: The Firm and the Global Marketplace

Week 1:
Jan. 31: Appendix: Chapter 7 (Global Markets in Action)
Feb. 2: Appendix: Chapter 7 (Global Markets in Action)
Quiz 5 (Opens at 3pm)

Week 2:
Feb. 7: Exam Review
Feb. 9: No Lecture

EXAM 1: THURSDAY, FEBRUARY 9 8:20pm

DISCUSSION POST 2 AND CONNECT MASTER CLOSE 2/10 at 10PM

Module 3: Understanding the Macroeconomy

Week 1:
Feb. 14: Chapter 4 (Measuring GDP and Economic Growth)
Feb. 16: Chapter 4 (Measuring GDP and Economic Growth)
Quiz 6 (Opens at 3pm)
Week 2:
Feb. 21: Chapter 5 (Monitoring Jobs and Inflation)
Feb. 23: Chapter 5 (Monitoring Jobs and Inflation)
Quiz 7 (Opens at 3pm)
Week 3:
Feb. 28: Chapter 6 (Economic Growth)
Mar. 2: Chapter 7 (Finance, Savings, and Investment)
Quiz 8 (Opens at 3pm)

DISCUSSION POST 3 AND CONNECT MASTER CLOSE 3/3 at 10PM

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Module 4: Identifying Short-Run Macroeconomic Relationships
Week 1:
Mar. 7: NO CLASS: SPRING BREAK
Mar. 9: NO CLASS: SPRING BREAK

Week 2:
Mar. 14: Chapter 11 (Expenditure Multipliers)
Mar. 16: Chapter 10 (Aggregate Supply and Aggregate Demand)
Quiz 9 (Opens at 3pm)
Week 3:
Mar. 21: Exam Review
Mar. 23: No New Lecture

DISCUSSION POST 4 AND CONNECT MASTER CLOSE 3/24 at 10PM

EXAM 2: THURSDAY, MARCH 23 8:20pm

Module 5: The Government and the Macroeconomy

Week 1:
Mar. 28: Chapter 13 (Fiscal Policy)
Mar. 30: Chapter 13 (Fiscal Policy)
Quiz 10 (Opens at 3pm)

Week 2:
Apr. 4: Chapter 8 (Money, the Price Level, and Inflation)
Apr. 6: Chapter 14 (Monetary Policy)
Quiz 11 (Opens at 3pm)

Week 3:
Apr. 11: Chapter 14 (Monetary Policy)
Apr. 13: Chapter 9 (The Exchange Rate and Balance of Payments)
Quiz 12 (Opens at 3pm)

DISCUSSION POST 5 AND CONNECT MASTER CLOSE 4/14 at 10PM

Module 6: The International Macroeconomy

Week 1:
Apr. 18: Exam Review

DISCUSSION POST 6 AND CONNECT MASTER CLOSE 4/19 at 10PM

EXAM 3: MONDAY, APRIL 24 5:30pm

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 PROPOSED CONNECT MASTER SCHEDULE

Module 1: Microeconomic Foundations

Week 1: No Assignments
Week 2: Fundamentals
Week 3: Demand & Supply & Market Equilibrium and Policy 1
Week 4: Market Efficiency 1

Module 2: The Firm and the Global Marketplace

Week 1: Market Equilibrium and Policy 2 & Market
Efficiency 2
Week 2: International Trade

Module 3: Understanding the Macroeconomy

Week 1: Measuring Output and Income & Economic Growth
Week 2: Business Cycles, Unemployment, and Inflation
Week 3: No Assignments

Module 4: Identifying Short-Run Macroeconomic Relationships

Week 1: Aggregate Expenditures Model
Week 2: Aggregate Demand and Supply

Module 5: The Government and the Macroeconomy

Week 1: Fiscal Policy
Week 2: Money
Week 3: Monetary Policy

Module 6: The International Macroeconomy

Week 1: International Finance
Week 2: NO NEW MATERIAL