ECO 2013-U07

                                                                   Spring 2009



Principles of Macroeconomics                   



Professor:                   Mihaela Pintea

Classroom:                  Viertes Haus 131

Times:                         TTh 11:00-12:15am

Office:                         DM 309B

Office Hours:              TTH 12:30-1:30pm


Class webpage:


Required Text


Principles of Macroeconomics, by Robert H. Frank and Ben S. Bernanke, 4th edition, 2009

Aplia subscription for homework (see homepage for course) 


Although we will cover the textbook closely, there will be additional material presented. You are responsible for everything that is covered in class.  


Course Content


This course is a comprehensive introduction to macroeconomic. Macroeconomics studies the aggregate economic phenomena. It addresses questions regarding the causes and effects of inflation and unemployment, determinants of long term economic growth, business cycles, and the role of government policies in supporting a healthy economy.


The objective of this class is to familiarize you with the macroeconomics vocabulary, to investigate a variety of macroeconomic issues and to develop theories and models that will help you understand the potential and the limits of the economic policy.    




Your grade will be determined from 3 in-class exams, homework assignments done through Aplia and class participation. The final is cumulative.


Your final grade will be determined using the following weighting scale:


Midterms make up 25% (*2=50%) 

Homework assignments and class participation make up 15%

Final makes up 35%



At the end of the semester, grades will be assigned on a curve based on the total number of points earned on the three exams and the homework, properly weighted.  There will be no extra credits available. 



Percentage Grade      Letter

94-100                         A

90-93                           A-

87-89                           B+

83-86                           B

80-82                           B-

77-79                           C+

73-76                           C

70-72                           C-

67-69                           D+

60-66                           D

0-59                             F


I reserve the right to lower the cutoffs.


Students are strongly encouraged to work through the problems and exercises at the end of each chapter in the text.


On the Frank/Bernanke website at there is an Online Learning Center which includes different questions and aids for each chapter.


Incomplete will be given only under exceptional circumstances. Any kind of emergency has to be documented to receive an “I”. Doing poorly in the course will not be considered a valid reason.


Religious Holiday:


The University's policy on religious holydays as stated in the University Catalog and Student Handbook will be followed in this class. Any student may request to be excused from class to observe a religious holyday of his or her faith.


Policies and Academic Misconduct


Every student must respect the right of all to have an equitable opportunity to learn and honestly demonstrate the quality of their learning. Therefore, all students must adhere to a standard of academic conduct, demonstrating respect for themselves, their fellow students, and the educational mission of the University. As a student taking this class you have to agree to not represent someone else’s work as your own; not cheat, nor will you aid in another’s cheating and be honest in your academic endeavors.

                        If you are found responsible for academic misconduct, you will be subject to the academic misconduct procedures and sanctions as outlined in the Student Handbook at


Failure to adhere to the guidelines stated above may result in one of the following:

Expulsion: Permanent separation of the student from the University, preventing readmission to the institution. This sanction shall be recorded on the student's transcript.

Suspension: Temporary separation of the student from the University for a specific period of time.




Sources of Additional Macroeconomics Information


The Economist

The Wall Street Journal

Financial Times

World Bank

International Monetary Fund

The Economists’ Voice

Board of Governors Federal Reserve System

Bureau of Economic Analysis

Bureau of Labor Statistics

Penn World Tables

The Brookings Institution

The Economic Policy Institute

The American Enterprise Institute

Greg Mankiw’s Blog

Brad DeLong's Blog



Course Outline


February 27, 2009: Last drop day

March 16-21: Spring Break

April 20-25: Finals week


Changes may be made to accommodate the pace of the class, students’ interests, or other surprises.


Week 1 (01/05-01/09)

Syllabus, general discussion of the course

Part I:  Introduction

Chapter 1:  Thinking like an Economist (Including Appendix)


Week 2 (01/12-01/16)

Chapter 2:  Comparative Advantage


Week 3 (01/19-01/23)

Chapter 3:  Supply and Demand


Part II:  Macroeconomics: Data and Issues

Week 4 (01/26-01/30)

Chapter 4:  Spending, Income and the GDP


Week 5 (02/02-02/06)

Chapter 5:  Inflation and the Price Level


Week 6 (02/09-02/13)

Chapter 6: Wages and Unemployment

First Midterm


Part III:  The Economy in the Long Run

Week 7 (02/16-02/20)

Chapter 7:  Economic Growth


Week 8 (02/23-02/27)

Chapter 8:  Saving, Capital Formation and Financial Markets


Week 9 (03/02-03/06)

Chapter 9: The Financial System, Money and Prices

Second Midterm


Part IV:  The Economy in the Short Run

Week 10 (03/9-03/13)

Chapter 10:      Short-term Fluctuations


Spring break (03/16-03/21)

Week 11 (03/23-03/27)

Chapter 11:   Spending and Output in the Short Run


Week 12 (03/30-04/03)

Chapter 12:  Stabilizing the Economy: The Role of the Federal Reserves


Week 13 (04/6-04/10)

Chapter 13:  Aggregate Demand and Aggregate Supply


Week 14 (04/13-04/17)

Chapter 14:  Macroeconomic Policy


Final week: 04/20-04/25

Final exam is given according to the University rules.