Economics 201: Principles of Macroeconomics

Jacksonville University
Spring 2021 – Section 112

Andrew Ju, Ph.D.

Davis College of Business, 126
aju@ju.edu

Class Time: Tu/Th (Section 112 – 11:00AM – 12:15PM)

Virtual Office Hours: Monday 9:00AM - 12:00PM or by appointment
(Zoom ID: 251 248 9322, Passcode: 2GLkvW)
Class Room: Davis College of Business, 117
Delivery Method: Split-Section Delivery
Credits: 3

Couse Objectives

LG 1. Exhibit Business Acumen

LO1-2. Economics

LG 3. Use Critical Thinking and Communication Skills

LO3-2. Students will critically evaluate arguments in terms of strength of
evidence and reasoning.

Course Description

This course is about the economic models of individual and business decision-
making. The course begins by looking at supply and demand. We will see the roles of
preferences and prices at the individual and market levels. We will then move on to
an overview of macroeconomic issues: the determination of output, employment,
unemployment, interest rates, and inflation. Monetary and fiscal policies are
discussed. The course introduces basic models of macroeconomics and illustrates
principles with the experience of the U.S. and foreign economies.

Textbook

The required textbook for the course is Macroeconomics by Hubbard and O’Brien 7 th
Ed. (ISBN-13: 978-0134738314). There is a study guide available for this book if you
need it. The majority of the class will be drawn from this text but reading the text is
not a substitute for coming to class. Questions for the exams will be drawn from
both the text and the lectures so you need to read as well as come to class to be
successful.

1
Evaluation

Your grade will be based on homework assignments, a group project, quizzes, and
exams. Homework assignments and group project will be each worth 10% of your
grade. Quizzes will be worth 20%. Two mid-term exams will be worth 15% each and
the final exam will be worth 30%.

You must have a laptop/PC, a webcam, and a microphone to be able to take

quizzes and exams online. Most laptops have built-in webcam and microphone, so
you don’t have to purchase them. If you don’t, please let me know as soon as
possible. Mid-term exams will be given during a scheduled class time. The final
exam will be given during our scheduled exam time. The final exam will mostly
cover the material from the last third of the class; however, there will be some
questions from the material covered on the first two exams. All exams will be given
via Blackboard using Respondus Monitor. Makeup exams will only be given to
students with approved and well- documented illness, or family emergencies. I must
be notified of the circumstances as soon as possible and provided with adequate
documentation. Makeup exams will be different from the exam given in class and
could be an entirely different format. Makeups must be taken no more than five
school days after the scheduled exam.

Makeup quizzes will not be offered. You must be present in class when the quiz is
given to take the quiz (or take them synchronously via Blackboard Respondus
Lockdown Browser if you are assigned not to attend the face-to-face sessions).

There are three homework sets to be turned in via Blackboard Turnitin application.
I will provide more details later during the semester. Late assignments will not be
accepted. 1% extra credit will be given at the end of the semester based on your
attendance, participation, and/or discussions during lectures. You should be diligent
in turning in homework and attending lectures if you wish to do well in the course.

The final grading scale is as follows

A 91.50 and above

A- 89.50 to 91.50
B+ 86.50 to 89.50
B 81.50 to 86.50
B- 79.50 to 81.50
C+ 76.50 to 79.50
C 71.50 to 76.50
C- 69.50 to 71.50
D 59.50 to 69.50

2
 F 59.49 and below

There are no exceptions to the scale. The rounding is already built into the scale so if
you end the semester with an 89.499 it will not be rounded. You will receive a B+.

Social Distancing Procedures

This class is delivered face to face in the classroom and virtually (synchronously) via
Blackboard Collaborate. Please see group assignments below. I will be assigned all
students into two groups and the groups will rotate in and out. You must wear a face
mask when you attend in class lectures.

These restrictions (if imposed) are based on following social distancing guidelines
and are determined based on class size and classroom size. On days when students
are assigned not to attend the face-to-face sessions, they should attend class
virtually via Blackboard Collaborate during the regularly scheduled class
meeting time. Students may not independently choose to attend all class
sessions virtually without the appropriate accommodation from the Disability
Support Services office (see COVID-19 Accommodations below).

Expectations

Attendance is not mandatory, but I strongly urge to attend every assigned face-to-
face session. You are responsible for all material covered in class, and all the
chapters we cover from the text. You should arrive on time. You are expected to turn
off cell phones before class, treat each other with respect, wear face coverings, and
refrain from packing up before class has ended (Due to the uncertainty that COVID-
19 presents, extended absences may be necessary due to either illness or
quarantine. Please work with the Student Life office to report your individual
situation.)

Academic Misconduct

“Members of the Jacksonville University community are expected to foster and

uphold the highest standards of honesty and integrity, which are foundations for the
intellectual endeavors we engage in.
To underscore the importance of truth, honesty, and accountability, students and
instructors should adhere to the following standard:
I do not lie, cheat, or steal, nor do I condone the actions of those who do

Academic misconduct occurs when a student engages in an action that is deceitful,

fraudulent, or dishonest regarding any type of academic assignment that is
intended to or results in an unfair academic advantage. In this context, the term
“assignment” refers to any type of graded or ungraded work that is submitted for

3
evaluation for any course. Academic misconduct includes but is not limited to
cheating, collusion, falsification, misrepresentation, unauthorized collaboration on
assignments, copying another student’s work, using or providing unauthorized
notes or materials, turning in work not produced by the individual, and plagiarism.
Furthermore, providing deceitful, fraudulent, or dishonest information during
discussions of an academic manner with faculty are also examples of academic
misconduct.” (Jacksonville University Academic Catalog)
Throughout this course we will be reading and reporting about the work of others.
All information that is not original to the student must be appropriately attributed
in both presentations and written work. All students are expected to do their own
work and give appropriate credit for all sources used in the process of preparing
papers, presentations, and homework assignments. Group assignments will be
graded based on the product of the work, although some adjustment may be made
for participation. [If you have a question about whether or not collaboration is
allowed, or how to cite a reference, please ask. It is always better to check than to be
accused of an unintended violation of the academic honesty policy.] Violations of
the academic honesty policy will be dealt with in accordance to university policies
[Refer to current Academic Catalog “Academic Integrity and Misconduct”].

Course Level Penalties: A first offense may result in a failing grade for the
assignment. Second offenses may result in failure in the course. Significantly
egregious violations may result in expulsion from the university. When in doubt
give credit for all information that did not come directly out of your head!

Disability Accommodations

Students with a documented disability requesting classroom accommodations or

modifications, either permanent or temporary, resulting from the disability are
encouraged to register with the Disability Support Services (DSS) office. This office
will assist in recommending accommodations that eliminate barriers in academic
coursework and/or guide you through the different supportive mechanisms that we
have to offer. This office is located on the third floor of the Davis Student Commons,
room 336. The office can also be contacted through their website
(https://www.ju.edu/disabilityservices/index.php). 

Note: Students are encouraged to register with the DSS office at the beginning of the
term and/or prior (if/when possible), as accommodations are not provided
retroactively.

4
Attendance Group Assignment

Section 102 (TuTh 11:00AM - 12:15PM)

Group A: Last names “Alatawi” to “Mcafee”

Group B: Last names “McKinnon” to “Williams”

5
TENTATIVE SCHEDULE
Week 1 - Classroom Attendance: Group A
Tues (1/26) Introduction & Syllabus (Virtual Session via BB Collaborate)
Quiz #1 on Syllabus via Blackboard Respondus Monitor

Thurs (1/28) Chapter 1: Foundation of Economics

Week 2 - Classroom Attendance: Group B
Tues (2/2) Chapter 2: PPF, Specialization, and Trade (Part 1)

Thurs (2/4) Chapter 2: PPF, Specialization, and Trade (Part 2)

Week 3 - Classroom Attendance: Group A
Tues (2/9) Quiz #2 on Chapter 2
Chapter 3: Supply and Demand Model (Part 1)

Thurs (2/11) Chapter 3: Supply and Demand Model (Part 2)

Week 4 - Classroom Attendance: Group B
Tues (2/16) Quiz #3 on Chapter 3 (Part 1)
Chapter 4: Price Floor & Price Ceiling

Thurs (2/18) Midterm Exam I (Ch 1, 2, 3 & 4) via BB Respondus Monitor

HW Set 1 Due via BB Turnitin
Week 5 - Classroom Attendance: Group A
Tues (2/23) Chapter 8: Gross Domestic Product (Part 1)

Thurs (2/25) Chapter 8: Gross Domestic Product (Part 2)

Week 6 - Classroom Attendance: Group B
Tues (3/2) Quiz #4 on Chapter 8
Chapter 9: Unemployment & Inflation (Part 1)

Thurs (3/4) Chapter 9: Unemployment & Inflation (Part 2)

Week 7 - Classroom Attendance: Group A
Tues (3/9) Quiz #5 on Chapter 9
Chapter 10: Economic Growth, the Financial System, & Business
Cycle

Thurs (3/11) Chapter 11: Long-Run Economic Growth

Group Project Assignment
Week 8 - Classroom Attendance: Group B
Tues (3/16) Quiz #6 on Chapters 10 and 11
Chapter 13: AD-AS Model (Part 1)

Thurs (3/18) Chapter 13: AD-AS Model (Part 2)

6
Week 9 - Classroom Attendance: Group A
Tues (3/23) Quiz #7 on Chapter 13
Midterm Exam II Review Session

Thurs (3/25) Midterm Exam II (Ch 8, 9, 10, 11 & 13) via BB Respondus
Monitor
HW Set 2 Due via BB Turnitin
Week 10 - Classroom Attendance: Group B
Tues (3/30) Chapter 14: Money, Banks, & the Fed (Part 1)

Thurs (4/1) Chapter 14: Money, Banks, & the Fed (Part 2)

Week 11 - Classroom Attendance: Group A

Tues (4/6) Quiz #8 on Chapter 14
Chapter 15: Monetary Policy (Part 1)

Thurs (4/8) Chapter 15: Monetary Policy (Part 2)

Week 12 - Classroom Attendance: Group B
Tues (4/13) Quiz #9 on Chapter 15
Chapter 16: Fiscal Policy (Part 1)

Thurs (4/15) Chapter 16: Fiscal Policy (Part 2)

Fri (4/16) Quiz #10 on Chapter 16 via Blackboard Respondus Monitor
Week 13 - Classroom Attendance: Group A
Tues (4/20) Presentations

Thurs (4/22) Presentations

Week 13 - Classroom Attendance: Group B
Tues (4/27) Presentations

Thurs (4/29) Presentations

Week 14
Sunday (4/1) Final Exam Review Session

Mon (5/3) Final Exam via Blackboard Respondus Monitor (12-2 pm)

HW Set 3 Due 5/3 via BB Turnitin