Economics 311: Money and Income

Fall 2002

Updated 12/05/02


Reading.

Textbook: Robert Barro, Macroeconomics, 5th Edition.


Course Outline.

 Introduction, Lecture Notes

Chapter 1. The Approach to Macroeconomics

Chapter 1, Lecture Notes

Chapter 2. Work Effort, Production, and Consumption-The Economics of a Robinson Crusoe.

Chapter 2-Lecture Notes

Chapter 2 Quiz   Answer

FIRST EXAM: Thursday October 3rd-Covers Chapter 1 and 2 in Barro.

First Exam with Answers

Sample Exams: Spring 2002, Spring 2001, Spring 1999, Summer 1999

Chapter 3. The Behavior of Households with Markets for Commodities and Credit.

Chapter 3-Lecture Notes

Chapter 4. The Demand for Money.

Chapter 4-Lecture Notes

Chapter 4 Homework, Answer

SECOND EXAM: Thursday, Nov. 7th.

Sample Exams Fall 2002, Answer Spring 2002, Spring 2001, Spring 1999, Summer 1999

Chapter 5. The Basic Market-Clearing Model

Chapter 5-Lecture Notes

Basic Market Clearing Graphic

Chapter 5, Fall 2002-Homework     Answer

Chapter 6. The Labor Market (optional)

Chapter 7. An Introduction to Inflation and Interest Rates

Chapter 8. Money, Inflation, and Interest Rates in the Market-Clearing Model.

Chapter 7. 8, and 12, Lecture Notes

FINAL EXAM: Date to be announced.

Sample Exams: Spring 2001, Spring 1999, Summer 1999

 


Grading

Grade Roster

Grading will consist of two in-class tests and a comprehensive final. The two in-class tests will count 25% each and the final 50%. Scores will be normalized before weighting. The final will be cumulative. Tests will consist of short answer and essay style questions. Examinations will only be given at scheduled times. There are no excused missed examinations. Missed examinations will count as a score of 0. Plus/minus grading will not be used.

All examinations are closed book, closed note. Students may bring a calculator into the exam room but the calculator's memory must be purged of all class related material before entering the exam room.

There will be a series of homework assignments and quizzes. The homework and quiz scores will be added to the score on next test. Students not submitting homework or who miss quizzes will receive a point deduction on the next test.

For those statistically inclined, your course score determines your grade and is computed using the following formula:

grade1.jpg (11358 bytes)

grade2.jpg (9451 bytes)

The course score shows how well you performed relative to other students' mean performance. A negative score denotes below average student performance. A positive course score denotes above average student performance. For the purpose of assigning grades all sections of the course for the semester are considered as a group.

Grades are assigned using a modified curve. Roughly speaking, A's are earned by all students who average two standard deviation above the mean on the tests and final (a course score of 2). B's are earned by students averaging 1 standard deviation above the mean. C's are earned by students averaging 0 standard deviation below the mean. D's and F's are given to students scoring below -.5 standard deviations from the mean.

The course scores required for each grade are adjusted for the overall performance of all sections in a given semester relative to the historical performance of past classes.