COURSE SYLLABUS
ECON-301
Winter 2007

Course:                Macroeconomic Analysis
Professor:            Dr. Kelton
Phone:                 235-5700
Graduate TA:     Frankie Pircher (phone: 235-2835)
Website:              http://k.faculty.umkc.edu/keltons
Office:                 202F Manheim Hall
Office Hrs:          T/R, 1:00-2:00 p.m. and by appointment
E-mail:                keltons@umkc.edu

Textbooks: Macroeconomics: Theories and Policies (8th Edition), Richard T. Froyen. ISBN 0-13-143582-5. You should avoid paying bookstore prices by purchasing the book on-line at www.amazon.com, www.varsitybooks.com, or www.pattysbookstore.com. You can also save money by purchasing the 7th Edition. Half.com recently had used copies of this edition available for $6.
Macroeconomic Issues Today: Alternative Approaches Macroeconomic Issues Today: Alternative Approaches (8th Edition), Robert B. Carson, et al.)  Since we will not use this book until the last part of class, you have time to order it on-line. Half.com recently had new copies available for $18.

Course Description: ECON 301 is designed to build on the fundamentals of macroeconomics. ECON 201 (or its equivalent) is a prerequisite to this course.

Learning Objectives: The course will be divided into two parts. In the first part of the course, we will develop the Keynesian macro model, including various interpretations of Keynes’ contributions in The General Theory. Each component part of aggregate demand will be considered in detail. In the second part of the course, we will take up some alternatives to standard Keynesian economics. Monetarist, New Classical, New Keynesian and Post-Keynesian theories will be examined. Students should be able to consider a theoretical argument and recognize it as stemming from one or the other school of thought.

Expectations: I have certain expectations concerning your responsibilities in this class:

  1. I expect you to read the syllabus and to be aware of the policies (e.g. grading, make-up policies, etc.) stated therein.
  2. I expect that you will put forth effort in learning the material covered in this class. Because this is an on-line course, you will bear a disproportionate share of the burden. You should read chapters before watching the lectures on-line. Do not expect to get everything you need simply by watching video lectures. You must read (and struggle with) the material in the chapters.
  3. I expect that if you are having problems with the material that you will make an appointment to see Frankie Pircher or that you will come by during my office hours. I also expect you to log on with questions during weekly discussion groups. Note that you do not have to be available during the actual discussion session. You can post a question at any time and log on to read Frankie's reply at a later time. I am more than willing to provide additional assistance so please do not hesitate to ask. But be sure not to wait until the last minute, as there is very little chance that I will be able to help you acquire a good command of the material a few days before an exam.

Tutoring and Additional Assistance: My teaching assistant, Frankie Pircher  is available to help you. Her office hours are T/R, . She will be in her office (Haag Hall 308) on Wednesdays from 9:00 - 2:30. You can also reach her by phone at 816.235.2835 or through e-mail at pircherf@umkc.edu.

A Note on Academic Dishonesty: Academic honesty is fundamental to the activities and principles of a university. All members of the academic community must be confident that each person’s work has been responsibly and honorably acquired, developed, and presented. Any effort to gain an advantage not given to all students is dishonest whether or not the effort is successful. The academic community regards academic dishonesty as an extremely serious matter, with serious consequences that range from probation to expulsion. If a student is caught cheating, the instructor will assign a grade of Zero on that assignment, and the instructor will report the incident to the Office of the Provost.  When in doubt about plagiarism, paraphrasing, quoting, or collaboration, consult the course instructor.

Americans with Disabilities: If you have special needs as addressed by the Americans with Disabilities Act (ADA) and need assistance, please notify the Office of Disability Services or the course instructor immediately. Reasonable efforts will be made to accommodate your special needs.

Grading:
Participation – 25 points
Homework #1 – 25 points
Homework #2 – 25 points
Homework #3 – 25 points
Midterm #1 – 100 points
Midterm #2 – 100 points
Final Exam – 100 points

Homework Policies: Due dates will be assigned in the coming weeks. Because the correct answers will begin to circulate on the day it is due, no late homework will be accepted. There will be no exceptions to this rule.

Exams: To avoid (or minimize) conflict with work schedules, your exams will be scheduled on Saturdays. The dates for these exams can be found on your course outline (available on Blackboard).

Make-up Exams: Make-up exams will be given only to students with an excused absence. Documentation must be provided. Students who oversleep, forget about a test, aren’t prepared, have other commitments on the same day, etc. will not be allowed to take a make-up exam. Check your schedules now, and make sure that you will be available to take exams as scheduled.  If you cannot ensure your availability, you should not sign up for this course.