Macroeconomics by Olivier Blanchard, 5th ed. 2) Readiness Assurance Process (
RAP): ✓ On the first day of the learning unit, you take a quiz over the readings.
Intermediate Macroeconomics (EC100C) Spring 2011 Instructor:
William Branch, SSPB 3279.
Contact:
824-4221 email:
[email protected]
Course Info:
http://williambranch.tumblr.com On twitter: @WilliamABranch On facebook: Econ 100C On eee.uci.edu
Time and Location: Tuesday and Thursday, 9:30-10:50, SSLH 100. There is an additional weekly discussion section. Attendance at the discussion section is mandatory. You must attend the discussion section for which you are registered. Office Hours:
Monday 2-3:00 p.m. Wednesday 2:00-3:00 p.m. Also, by appointment.
Course Objectives: This course is designed to give you the foundation necessary to analyze macroeconomic problems confronted in the real world and in other related economics courses. In this class you will learn by doing. The term is organized into 5 learning units, each of which has a skill-based learning goal. In order the units are: 1. Analyzing and measuring the economy in the very short-run. 2. Explaining and analyzing how output is determined in the medium-run. 3. Explaining the determination of output in the long-run and recommending ways to encourage greater economic growth. 4. Analyzing and interpreting the role expectations and psychology affect the economy. 5. Analyzing and recommending appropriate fiscal and monetary policy. Course Description: Your experience in this course will probably be unlike any you have taken so far. The structure of the course is designed to simulate real world working environments. A significant amount of class-time will be spent working in permanent teams, which will be assigned on the first day. The focus of class-time will not be a lecture that simply reiterates information in the book. We will accomplish this via the Team Learning format, which consists of a cycle that is repeated for each learning unit. This is what the cycle for each unit will look like: 1) Before the learning unit begins, you complete the assigned readings from the textbook, Macroeconomics by Olivier Blanchard, 5th ed. 2) Readiness Assurance Process (RAP): On the first day of the learning unit, you take a quiz over the readings. After turning in your individual quiz, you then take the same quiz as a team. For every scheduled RAP you must bring a Scantron form, and someone from your team must also bring a Scantron form for the group. After all the team quizzes are turned in, you receive the correct answers. You then have time to challenge any answers your team got wrong by writing an appeal that consists of an argument supported by evidence from the readings. Appeals must be written collectively as a team.
Example of a successful appeal: Argument: “We feel that A and D could both be considered correct answers to question 1. According to the readings, macroeconomics consists of all individuals and firms, so individual decision making plays a part in macroeconomics. Evidence: “On page 42 of Blanchard it says that we want to look at the economy ‘…from the point of view of the different goods being produced, and the different buyers for these goods’. Although, this means that the focus is not on individual decision making, certainly individual decision making is important.” 3) Once the appeal process is complete we will discuss the questions that your groups missed and clarify any confusion. 4) The rest of class time will be spent clarifying areas of the material where there is still confusion, and applying the concepts to real life events. 5) Additionally, we will spend class time working on assignments that apply these skills to real world applications. A note about the Readiness Assurance Process (RAP): On the first day of every learning unit, we will begin the RAP for that unit before we discuss any of the readings. Therefore, it is very much in your best interest to read ahead in preparation for an upcoming RAP (i.e., don’t cram the night before.) Give yourself time to get in touch with your teammates or drop by my office if you don’t understand part of the readings. I will also distribute an outline of the important concepts which the RAP will focus on. Grading: Just like in the real world, in this class you will be accountable to both your “supervisor” and your teammates. Therefore, your final grade for this course will come from three places: individual points you earn, group points your team earns, and the scores you receive as peer evaluation from your team members at the end of the term. Individual Points: 60% of your final grade. Individual Quizzes Midterm Exam 1 Final Exam Group Points:
10% of the final grade. 20% of the final grade 30% of the final grade
30% of your final grade. Group Quizzes Application Exercises
20% of the final grade. 10% of the final grade.
Peer Evaluation: 10% of your final grade. Class Team Responsibilities: Every team will get a folder with the names of its members and a calendar of the term on the front. Every day I place the folders at the front of the class (which contain any assignments that need to be returned that day), and I will collect the folders at the end of each class. So the first team member that arrives for class should pick up the folder, and the last team member to leave should turn the folder back in to me. The calendar on the front is for your team to keep track of your own attendance. If you are going to be absent, you must contact either your teammates or myself before class. Note about attendance and peer evaluation: The Team Learning format was developed by Dr. Larry Michaelsen, and has been used at other universities for over 20 years. Dr. Michaelsen has kept statistics for his groups over the decades, and has found that on average every group has outscored its highest-scoring member by 18%. This is the power of collaboration. However, if someone on your team is absent, they
will be unable to contribute to the discussions, and therefore your group will most likely perform worse than it otherwise would have. Later in the term you and your teammates will decide on which criteria to use when making your peer evaluations. Keep attendance in mind when you evaluate each other at the end of the term. This course requires regular attendance of lectures and discussion sections. If you prefer to not attend class then you should consider withdrawing and taking the course another time. In particular, if you know that you do not perform well at 9:30 a.m. then you should re-consider this course. Exams and RAP’s: The final exam is scheduled for Thursday, June 9 at 8:00 a.m.. The RAP dates are listed below in the course schedule. There are no make-ups for RAP’S, discussion assignments, or the final exam. If Peer Evaluations are not received by the date and time due, you will receive a zero for your peer evaluation score. Rescheduling for the RAP’s or the final exam is not possible. A Remark on Academic Honesty: It is the university’s policy that “academic dishonesty is unacceptable and will not be tolerated at the University of California, Irvine.” Here is what I expect: • All exams and quizzes are closed note/closed book exam. • With the exception of the group portion of RAP’s, you may not receive or elicit assistance from another student. • I define cheating as using the aid of notes, books, other students, or any programs in a calculator. Glances away from your test I consider evidence of cheating. Students with Disabilities: If you have a documented disability and anticipate needing accomodations in this course, please see me immediately. A Remark about Add/Drop Cards: UCI has phased out the use of add/drop cards. Beginning Spring quarter 2010, economics faculty are not authorized to make add/drop decisions. Additionally, the economics department policy is that all adds and drops must take place by the second week of the quarter. It will not be possible to drop this course after that date. A Remark about Electronic Communications: This course has a number of “social media” outlets to increase interaction outside of class. I encourage you to make use of these alternatives and, in particular, my hope is that questions can be answered through facebook and/or twitter. I may choose to not answer some (even many) of your questions. Some questions may require you to see me in person. A Remark about Course Grades: Final course grades are determined by the class distribution. You should expect that grades will not follow a strict 90-80-70 breakdown. A Remark about Course Evaluations: Between May 23-June 6 2010 the school of social sciences would like you to complete a course evaluation for Econ 100C. Your comments and evaluation are useful in making future decisions about the structure of this course, instruction methods, etc. Please mark these dates in your calendar and complete an evaluation when the time comes. Course Schedule: Wk 1
2
Date 3/29
Issue Introduction to Class
3/31
RAP #1 on Syllabus Review of IS-LM
4/05
RAP #2 on the Medium-run Economy I, Blanchard Chps. 6,7 Review of IS-LM
3
4
5
6
7
8
9
10
4/07
Focus and Applications of the Medium-Run Economy I
4/12
Focus and Applications of the Medium -Run Economy I (cont.)
4/14
Focus and Applications of the Medium -Run Economy I (cont.)
4/19
RAP #3 on the Medium-run Economy II, 8,9
4/21
Focus and Applications of the Medium -Run Economy II
4/26
Focus and Applications of the Medium-Run Economy II (cont.)
4/28
Focus and Applications of the Medium-Run Economy II (cont.)
5/03
Midterm Exam only on study units 1 and 2 (medium-run economy).
5/05
RAP #4 on the Long-Run Economy, Blanchard Chps. 10,11,12,13
5/10
Focus and Applications of the Long-Run Economy
5/12
Focus and Applications of the Long-Run Economy
5/17
Focus and Applications of the Long-Run Economy (cont.)
5/19
RAP #5 on Expectations, Blanchard Chps. 14,15,16,17
5/24
Focus and Applications of the role of Expectations
5/26
Focus and Applications of the role of Expectations (cont.)
06/31
Focus and Applications of the role of Expectations (cont.)
06/02
Focus and Applications of the role of Expectations (cont.) Peer Evaluations due by 5 p.m., no exceptions
