You are on page 1of 7

ECON 2000.

03 C/E: Applied Macroeconomic Analysis


Course Outline
Fall 2016
Wednesday Section C: 8:30 am to 11:30 am in room E111; Section E: 11:30 am to
2:30 pm in room W133; beginning on Wednesday September 14

Instructor

Assistant

Professor Irene Henriques


N205D, Seymour Schulich Building
(416) 736-5068
ihenriques@schulich.yorku.ca
Office hours: By appointment

Filomena Ticzon
N205B,
Seymour
Schulich
Building
(416) 736-5068
fticzon@schulich.yorku.ca

Irene Henriques is a Full Professor of Sustainability and Economics at the Schulich


School of Business. Her research interests span economics, stakeholder
management and sustainability. She has published numerous articles in leading
economic and management journals. Current research topics include income
inequality and innovation, business performance and sustainability.
Brief Description
This core course provides students with an overview of the aggregative
performance of the economy with emphasis on policy application and implications
for business. Topics discussed include the determination of key macroeconomic
variables such as real GDP, the inflation rate, the unemployment rate, interest rates
and exchange rates, and the effect of government monetary and fiscal policies.
Note: Not open to iBBA students for credit.
Prerequisites: AP/ECON 1000 3.00 (or equivalent) and
AP/ECON 1010 3.00 (or equivalent)
Course Credit Exclusions: SB/INTL 2200 3.00, AP/ECON 2400 3.00
(Formerly: AK/AS/ECON 2400 3.00), AP/ECON 2450 3.00
(Formerly: AK/AS/ECON 2450 3.00), and GL/ECON 3240 6.00

ECON 2000 p. 2

Contents

Course Learning Outcomes........................................................................................ 2


Deliverables at a Glance............................................................................................. 2
Course Material.......................................................................................................... 2
Student Preparation for Class and Class Participation: Expectations..........................3
Class-by-Class Syllabus.............................................................................................. 3
Written Assignments/Projects and Exam[s]: Descriptions...........................................5
Evaluation of Written Assignments and Exams..........................................................6
Calculation of Course Grade....................................................................................... 6
General Academic Policies: Grading, Academic Honesty, Accommodations and
Exams......................................................................................................................... 7

Course Learning Outcomes


This course provides students with analytical tools useful for solving business and
economic problems. The key focus is to teach students to identify, understand and
evaluate the domestic and global forces causing economic change. Key concepts
and ideas from macroeconomics, microeconomics and international economics are
introduced. Topics relevant to real-world issues and problems provide the focus for
in-class discussion. Upon completion, students are expected to be familiar with the
fundamental concepts of economics and be able to analyze how changes in the
economic environment affect business performance and future strategic options.

Deliverables at a Glance
Course work includes assignments, a midterm exam and a final exam.
Assignment/Task
Assignments

Quant
%
Total
ity
Weight
%
4
7.5
30

Midterm exam

30

30

Final exam

40

40

Author
Individ
ual
Individ
ual
Individ
ual

100%

Course Material
Required reading for this course includes the following textbook and access to
MyECONLab. Two options are available: 1) MyEconLab + eText or 2) MyEconLab +

ECON 2000 p. 3
Text. Either way, students need to register with MyEconlab in order to gain access to
the digital study material and complete the online assignments.
Hubbard, G, OBrien, P., Rafferty, M., Konieczny, J.
Macroeconomics: Canadian Edition, Pearson Canada, Toronto.

(2016),

http://catalogue.pearsoned.ca/educator/product/Macroeconomics-First-CanadianEdition/9780133349191.page
www.myeconlab.com

The Course Materials Database (CMD) has been created within Schulichs Lotus
Notes. It contains general information for Schulich students and information and
materials specific to this course. Check it frequently.

Student Preparation for Class: Expectations


Each class I introduce important topics in applied macroeconomics and demonstrate
these concepts using a range of different examples. It is expected that students will
actively learn the material presented by reading the textbook, studying the
overheads, and working problems from MyEconLab.
Ground Rules:
1. A minimum of 3 to 4 hours of work outside of class is required every week. As a
general rule, a student is expected to spend 1 hour of work outside of class for
every 1 hour inside of class. After a textbook chapter is completed, it is expected
that students will work through the corresponding questions in MyEconLab.
2. Students are responsible for preparing in advance for all classes. This includes
reading the textbook and reviewing the overheads.
3. The course outline is a guide. Actual lectures may be one week ahead or one
week behind the topics listed on the course outline.
4. If a student misses a class, they are responsible for the missed material.

Class-by-Class Syllabus
Topics, readings, and other preparations for every class are listed below. Note that
as the course proceeds, it is possible to be slightly ahead of schedule or slightly
behind schedule.

ECON 2000 p. 4
Note: If any changes in this schedule become necessary, notifications will be
posted on the course CMD, and when changes need to be announced between
classes, an email will be sent to students Lotus Notes email accounts,
notifying them of the change.

Septem
ber 14
(1)

Introduction and Measuring the Economy

Septem
ber 21
(2)

The Canadian Financial System, Money and Inflation

Septem
ber 28
(3)

The Global Financial System and Exchange Rates

Reading: HORK: Chapters 1, 2

Reading:

HORK: Chapter 3, 4

HORK: Chapter 5
Online assignment due

October
5
(4)

The Labour Market, The Standard of Living Over Time and Across
Countries
HORK: Chapter 6,7

October
12
(5)

Long-Run Economic Growth


A very short review in preparation for the midterm exam
Online assignment due
HORK: Chapter 8

October
19
(6)

Mid-Term Exam (90 minutes)

October
26
(7)

Business Cycles, Explaining Aggregate Demand: The IS-MP


Model
HORK: Chapter 9,10

ECON 2000 p. 5
Novemb The IS-MP Model: Adding Inflation and the Open Economy
er 2
(8)
HORK: Chapter 11
Online assignment due
Novemb Monetary Policy in the Short Run, Fiscal Policy in the Long Run
er 9
(9)
HORK: Chapters 12, 13

Novemb Aggregate Demand, Aggregate Supply, and Monetary Policy,


er 16
Fiscal Policy and Government
(10)
HORK: Chapter 14, 15
Online assignment due
Novemb Consumption and Investment
er 23
(11)
HORK: Chapter 16
Novemb Wrap Up
er 30
(12)

Written Assignments/Exams: Descriptions


There are 4 individual assignments. Online assignments will be posted on
MyEconLab one week before the due date.
Online assignment #1 due September 28 2016
Online assignment #2 due October 12 2016
Online assignment #3 due November 2 2016
Online assignment #4 due November 16 2016
Mid term exam will be held on Tuesday October 19 2016
Decemb Final Exam
er TBD
Exam
The date of the Final Exam is set by the York University Registrars Office.
Schedul This is a closed book cumulative exam set for 2.5 hours.
e Dec 7

ECON 2000 p. 6
Dec 22

Evaluation of Written Assignments/Exams


Assignments and exams are marked for accuracy. Late assignments will not be
accepted.

Calculation of Course Grade


In arriving at the final grade, the following weights will be applied to individual
pieces of written work:
Assignment 1:
Assignment 2:
Assignment 3:
Assignment 4:
Midterm Exam:
Final Exam:
Total:

7.5%
7.5%
7.5%
7.5%
30%
40%
100%

I do not use a fixed grading scheme. The course will be graded according to the
Schulich Grading Guidelines (see Academic Policies below).
If a student misses a midterm exam, then the weight of the midterm exam will be
added to the final exam provided there is a valid reason accompanied by relevant
documentation. Within 24 hours of missing the midterm exam, the student or
someone on their behalf needs to notify the instructor.
The Final Examination will take place during the regularly scheduled examination
period following the end of the term. The Universitys Registrars office sets specific
examination dates after the term begins and enrolment patterns are identified.
Students should not make plans to be away from Toronto during any portion of the
announced examination period until the dates for their specific examinations have
been announced.

ECON 2000 p. 7

Academic Policies: Grading, Academic Honesty


Grades at Schulich are based on a 9-value index system. The top grade is A+ (9)
and the minimum passing grade is D (2). To keep final grades comparable across
courses, courses are expected to have a mean grade between 5.5 and 7.0.
The Schulich School does not use a percentage scale or prescribe a standard
conversion formula from percentages to letter grades. Conversions within a course
are at the discretion of the instructor.
For more details on the index, grading policy, and grade point average (GPA)
requirements, see the Student Handbook.
Academic honesty is fundamental to the integrity of university education and
degree programs, and applies in every course offered at Schulich. Students should
familiarize themselves with York Universitys policy on academic honesty, which
may be found on the Schulich website:
http://schulich.yorku.ca/current-students/academic-honesty/
Accommodations. For accommodations sought due to exam conflicts, religious
reasons, unavoidable absences or disabilities, please refer to the Student Handbook
or contact Student Services.
For counseling & disability services, contact Student Services or see
http://www.yorku.ca/cds/.

Students who miss a mid-term examination must contact their course instructor
within 24 hours and provide the course instructor with documentation
substantiating the reason for the absence. A copy of the documentation must also
be submitted to Student Services; it will be placed in the students file.
Final. Within 24 hours of missing a final examination, students must contact the
Associate Director, Undergraduate Programs Unit> at (416) 736-5060 and must also
contact their course instructor. Formal, original documentation regarding the
reason for missing the exam must be submitted to the <Director of Student
Services, Associate Director, Undergraduate Programs Unit> (SSB Room W262)
within 48 hours of missing the final exam. Students who miss a final exam due to
illness must have their doctor complete an Attending Physicians Statement. For
a copy of this document, visit http://www.registrar.yorku.ca/pdf/attendingphysicians-statement.pdf.
After these steps are completed, a student may write the exam at a time to be
arranged by the economics area.