macro class 1 [edocfind.com]

7/28/2019 Macro Class 1 [EDocFind.com]

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Econ 111 Principles ofMacroeconomics

Welcome!


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Economics is commonsense made difficult

As seen by an undergraduate

student


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Dr. Anwar Al-Shriaan

Economics Department

Office hours:

Sundays and Tuesdays 12:00 12:50 pm andby appt.


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Today

Syllabus

Intro to economics


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Some definitions of economics


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Economics is a studyof mankind in the

ordinary business oflife

Alfred Marshall


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"the purpose of studying

economics is not to acquirea set of ready-made

answers to economicquestions, but to learn howto avoid being deceived by

economists."

Joan Robinson


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Economics is whateconomists do

Jacob Viner


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Economics (1)

Study of the choices people make

to attain their goals given theirscarce resources.


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Economics: Foundations and

Models

1. What do economists study?

gasoline prices, inflation, housing markets,

international trade, income inequality, sports,

families, smoking, health care, happiness

decision-making or choices

2. How do they do it?

by using theories and models

theories are based on assumptions


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What makes a good theory or a

model?

Models are not judged by

their realism but by theirusefulness

What is the most uselessmap in the world?

To be useful a model has to be refutable


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Why study theory?

I dont know how it is in theorybut here is what I know from my 20years of experience will happen

Theory saves time!

Laura, Executive MBA student


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When Economists Disagree:

A Debate over Outsourcing

Makingthe

Connection

Learning Objective 1.3

Does outsourcing by U.S. firmsraise or lower incomes in the

United States?


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Economics (2)

Study of the choices people make

to attain their goals given theirscarce resources.


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Course Materials

Required:

McConnell and BrueEconomics ,

16th ed


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Recommended

course web site

URL at top of the syllabus

contains course information

exam study guides

TAs


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lecture notes

PowerPoint slides


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Email list

I send email about

Announcements

Course information Do you prefer Emails or Facebook

groups .


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TA

Check my website

But please see me too!


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Grading Policy

Midterm 1 25%

Midterm 2 25%

Recitation and Participations 10%

Final 40%


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Grading Policy

Letter grades will be assigned as

follows:94.00100.0 % A

90.0093.99 % A-

86.0089.99 % B+

83.0085.99 % B80.0082.99 % B-

78.0079.99 % C+

73.0077.99 % C

70.0072.99 % C-

66.0069.99 % D+

60.0065.99 % D

59.99

0.00 % F


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Grading Policy

Your Final Grades: 1st Mid + 2nd Mid + Part

+ Final.

If Your Participation > 8.5 you will have

Extra credits as follows:

Your Final Grades: 20% X Max (1st Mid, 2nd

Mid, Final)


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Grading Policy

Your Final Grades: 1st

Mid + 2nd

Mid + TA + Part + Final.

If Your Participation > 8.5 you will have Extra credits as follows:

Your Final Grades: 20% X Max (1st Mid, 2nd Mid, Final)

1st Mid(25)

2nd Mid(25)

Part

(10)

Final

(40)

Total

22 24 9 28 82 B-

84% 88% 70% 86 B+


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1st Mid

(25)

2nd Mid

(25)

Part

(10)

Final

(40)

Total

15 17 9 36 77 C

60% 68% 90%

82.4 B-


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1st Mid

(25)

2nd Mid

(25)

Part

(10)

Final

(40)

Total

15 17 6 40 76 C

68% 100% 76

15 17 9 40 80 B-

86 B+


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final exam

cumulative


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Makeup's

Usually I dont do it

planned absence: 1 weeks notice

emergencies: case-by-case

must be an excused absence!

must be documented!

makeup's may be essay exams or Imay re weight other exams


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Attendance

regular attendance is expected

you are responsible for information

in class attendance is necessary to earn

extra credit.


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Please be respectful of yourclassmates

be on time

do not talk during lecture

do not have your phone on


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Cheating

you cheat, I catch you,

you fail the course

programmable calculators (e.g. TI-

83),translators, phones, PDAs, etc.

are NOT allowed in exams


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Course Schedule

in syllabus

note exam dates,

note the final exam date & time


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Tips for success

come to class with lecture notes to follow

read the book!!

weekly look-through

ask for help

ME or

the TA or

ME use available resources

course web site

Why you should try to learn something


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Why you should try to learn somethingin this course.

Percentage of wage dispersion explained by skill factors.

Huge variation in

earnings of low vs.

high-skilled

college graduates


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if you need specialaccommodations, see me

if you are having problems in thecourse, see me sooner NOT later

macro class 1 [edocfind.com]

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