PRINCIPLES MACROECONOMICS                                                                 Instructor: Noel Brodsky

Economics 2801, Spring 2017                                                                                Office: 2831 (215D) Coleman Hall

                                                                                                                                Phone: (910) 688-3788



                                                                                                                                Hours: 2:00pm-3:30pm MW

                                                                                                                                            2:00pm-3:00pm F

                                                                                                                                or by Appointment


Grade Determination:

2 Regular Exams (100 points each)                         = 200 points

1 Internet Assignment (5 points)                             =     5 points

1 Final Exam (cumulative)                                      = 150 points

                                                                      Total     355 points


Expected Grade Distribution and Curve Structure:


    Curve Structure:  Average exam score will be set at or near a baseline "B", whenever necessary.  Each exam has its own curve, absolutely determined one week after the exam is returned.


    The Cutoffs are as follows:


    88% = A, 77% = B, 66% = C, 55% = D, below 55% is an F


                   Generally, expect an exam to come at the end of Gross Domestic Product Accounting (Chapter 7) and another at the end of The Federal Reserve System and Monetary Policy (Chapter 14), as stated on the syllabus.  The final is comprehensive, with the greatest weight given to those sections not covered on a prior exam.  Exams always require graphic skills, as well as multiple choice skills.  It is wise to bring color pens or pencils to class and exams.

                 There must be very compelling reasons to be granted a make-up exam, which, if at all possible, should be arranged in advance.  I do not intend to give make-up exams, if I can avoid it.

Cell Phone Policy: Cell phones must be either turned off or in silent mode during class.  Except for emergency purposes, cell phones may not be used in class whatsoever.  If you need a calculator, get a calculator; do not use your cell phone.  No graphing calculators may be used on an exam, only simple non-programmable calculators are allowed.

                  If you have a documented disability, and wish to discuss academic accommodations, please contact me as soon as possible.




Text: Arnold, Roger A. , Macroeconomics (11th Edition)

 South-Western, USA, 2014.


I. Introduction

    1.  What Economics is About (also see Appendix A)

    2.  Production Possibilities Frontier Framework

    3.  Supply and Demand Theory

    4.  Prices: Free, Controlled, and Relative

    5.  Supply, Demand, and Price: Applications


II. Macroeconomic Theory

    6.  Macroeconomic Measurements, Part I: Prices and Unemployment

    7.  Macroeconomic Measurements, Part I: GDP and Real GDP

    ***** EXAM 1 ******

    8.  Aggregate Demand and Aggregate Supply

    9.  Classical Macroeconomics and the Self-Regulating Economy  

    10. Keynesian Macroeconomics and Instability: A Critique of the Self-Regulating Economy 


III. Money and Monetary Policy

    12. Money, Banking and the Financial System

    13. The Federal Reserve System

    14. Money and the Economy

    ***** EXAM 2 ******


IV. Applications (if time permits)

    22. International Trade

    23. International Finance



Learning Objectives:


1.       Students will demonstrate the ability to think critically and to use appropriate concepts to analyze qualitatively problems or situations involving the application of the fundamental principles of Economics to real world situations.
2. Students will analyze numerous examples of qualitative and quantitative solutions to real world problems that demonstrate the importance of the material being learned and how it might be applied to real world situations.
3. Students will demonstrate ability and knowledge to discuss the material clearly and objectively both orally and in writing in this course.
4. Students will show their understanding and knowledge of the fundamental Economic concepts that they may need to make informed decisions.
5. Students can expect to d
evelop economic intuition and analytical skills
6. To apply economic analysis to a variety of personal, societal, and international issues
7. Acquire an understanding of the market mechanism as a means of allocating scarce resources
8. Learn to apply the concepts of competitive supply and demand in studying markets
9. Acquire model building skills.