Well, I have to revise my plan a little bit. According to the university's schedule (thanks to Meggan for bringing this up), the last day of class is on 12/3. This means, we cannot have the planned review class officially on 12/5. Therefore, homework on Ch.8 cannot be due on that day. Homework on Ch. 8 is due on 12/3 (Wednesday), there sould not be a problem in working on the two simple review questions, anyway. Here are two alternatives: (1) we can make 12/5 a voluntary class for reviewing; or (2) I arrange extra office hours for you either on Thursday or Friday. If you feel that the review class is not necessary, we are all ready to go for the final without any more class. Let me know what you prefer. We decide on Monday.

I will not grade homeworks on Ch. 13 and 8. If you print out your answers, you get 100%. But if you handwrite, you get 90%. I will look over your answers. If I find that you just want to take advantage of no-grading, you will get a zero [don't complain to me about your zero score(s)]. So treat them as if they are graded. There will be no redos for this section, including Ch. 12.

Chapter 8 homework: Review 4, 8 (due 12/3) I took out the analytical question 4, but you may want to try it yourself.

Chapter 13 homework: Review 3, 4, 5, 6 (due 12/3)

I post the sampe questions on Ch. 13 below. You may want to work on those along with questions on Ch. 12 as soon as possible. As usual they are important, you know : ). Note that the final (covering Ch. 12, 13, 8) is just two weeks away. You should have known what you expect from the exams in the past and I will keep the same style for the final as well. If you have any question, don't hesitate to email me or talk to me. I will hold extra office hours in the week before the final, we will decide when you want them later this week. The last date of class is 12/5, when we will have a review.

Homework on Chapter 12: Review 4, 5,6 and Numerical 3 (part a, b), revised due date 11/21 (Friday)

Extra Credit Essay: Due 12/1. Refer to my brief talk about the crisis at the end of Chapter 14 . I will not accept any late submission.

Final Exam: 12/8 (Monday) 9:45AM

I believe you are as anxious as I am to see the results. Here you are: MIDTERM II. You can also take a look at this GRAPH to see where your score stands. I assume you understand the graph :).

Notes to the score: (1) Average score of Midterm 2 is 76%, about 12 percentage points higher than Midterm I. Average score of Multiple Choices is 68%, 4 percentage points higher. I am really happy about your overall performance. Overall average of all components up to now is 73%. Your letter grade is based on the overall average, which means your letter grade reflects all your works from the beginning of the semester to now. (2) Numerical bonus makes a lot of difference. I believe your hardwork/attitude toward the numerical question paid off. And please keep up your good work till the end of the semester.

For old announcements, you can find out from the Archives. The link is on the left. We will be talking abit about the midterm and starting Chapter 12 on Wednesday. Homework on Ch.15 and extra credit project (I have some more instructions for it if you have not finished it yet.) are due on Wednesday.

Well, a couple of students asked for extension the due dates of extra-credit project and homework on Ch. 15. Yes, you are given a two-day extension, meaning that they are due next Wednesday (11/12). Here is a little guidance below on the project that may be helpful. 11/7

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(1) Reserves(RES) = Deposited reserves in the FED plus vault cash. NEW!
Okay, let me clarify a bit more. If you checked the textbook example (Table14.1) on page 536, you would find that their number of "Bank Reserves" (RES) was obtained by substracting Currency(CU) from Monetary Base (BASE).
You also want to follow this route. Then you shoud do as follows, using November 6, 2008 data and 2007-Oct as an example: (1a) Monetary Base from item (5) from H.3 Table 1: 824,647million (1b) Currency from item (1) from H.6 Table 3: 761.5billion. (1c) Reserves = 824.6-761.5 billion = 63.1billion.

You might also have found that this number 63.1billion is higher than the number 42,436 million from H.3 Tables 1 and 41,499 million from Table 2. The reason is that, the 20billion difference comes from the definition/computation of Monetary base by the Fed, which is Currency + Reserves + some others. Whether or not "some others" should be counted as "Reserves" is debatable. You don't want to get into this complexity -- we can spend a whole semester talking about data analysis. Therefore, stick to the method above to be consistent with the textbook. If you have already finished the project with this small number, I am fine with it. There is no single "yes or no" answer to this project.

(2) M1 or M (in the textbook) money supply = Currency(CU)+Deposit(DEP). Money supply M1 is available from H.6 Table 1.
You can get Currency from H.6 Table 3.
Subtracting Currency(CU) from M1 gives you Deposit(DEP). or You can add up all the deposit numbers (2)+(3)+(4)+(5) in Table 3 to get Deposit(DEP). These two methods should give you very similar results, with the difference being rounding errors.

(3) Always use seasonally adjusted numbers for the purpose of consistency.

(4) You can graph the required ratio and numbers seperately if you don't know how to change their scales(units) to make them more compatible/comparable to each other.

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Check out your pre-MidtermII standing [updated 11/8] to see if there is any discrepancy between yours and mine. 11/8

Sample questions on Ch. 15 posted. 11/6

Homework on Chapter 15 (Review 1, 3, 4 Analytical: 5) due on next Monday (11/10) 11/3

I received a homework (chapter 9) with FOUR names on it. If you are on the following list of Panther IDs [2106275, 2580741, 2346589, 1408699], please come talk to me which three are the ones who are to receive credits. Per our policy, homework can be finished in group of less than (including) 3 persons. I will NOT give grades until you tell me the names. 11/02

Slides for Chapter 14 have some new updates about a brief review of the crisis and your future essay. 11/02

The second midterm is scheduled on 11/10 (Monday). 10/29

Homework on Chapter 14 (Review: 5,6,7,8) due 11/7. If you are signed up today, you automatically get 100%. If you want to do it anyway, the extra point would be 0.5. This makes the homework 125%. 10/29

Extra point project outline click HERE. Due 11/10. Today's slides are also available below. 10/27

Sample questions for Ch. 9 were posted below. 10/23

Homework on Chapter 9 (Review: 1,2,3,5,7 Numerical: 4) is not due tomorrow (10/20), but due a week after we finish this chapter. It will be next Wednesday(10/29). 10/19

Reminder: Friday(10/17) is the last day to drop with DR/WI grade.

Please check my records of your homeworks, quizzes and midterm. If you find any discrepancy, please let me know asap. If you redo the homeworks, your score will be the average of two submissions. (for example, 80% for 1st submission and 100% for the 2nd submission, you will see 90% as your final score for that homework.) 10/14

If you redo any homework, please indicate so by writing "REDO" following the homework title. (for example, Homework for Ch. 7--REDO) 10/14

The standing up to midterm 1 is in Section "Exams" below. Please check all items for inconsistency between my record and yours. Let me know if you find any. "F1" means the bonus for the first forecast. "HW3" stands for homework for Chapter 3. "AVG1" is the weighted average of all items. "Letter1" stands for the letter grade up to today, in other words if the semester ends today, that will be your letter grade. A mixing letter, such as "A-/A" or "C-/C" means that I may decide either way, but I have incentive to give "A" and "C" in these two examples, since I notice that you either participate actively (I notice) in class or have put impressive efforts in doing homeworks. I may also have incentive to raise some other grades that are not on the border of two letter grades, such as a consistently (almost) perfect homework scores. But I leave it for more observation down the road.

A slight change in the syllabus: Homework 20%, Midterm I 25%.

I know you are anxiously waiting for the test results. But I am Dallas, TX now and will be back on late Saturday. A good bet on seeing your results would be Sunday afternoon.

Answer key to homework for chapter 7 is posted. (10/6)

Goodies are posted below in the ASSIGNMENT/SAMPLE section as I promised today. (10/3)
Corrections to answers to the sample questions(Thanks to Viviana):
Chapter 4: question 2 on page 7 (answer c should be -8.33%)
Chapter 7: question 20 on page 6 (answer b should be $4,500)

Answer key to homework 4 is posted. (10/2)

Slides for Chapter 7 posted. (10/01)

The first midterm will be given on next Wednesday(10/8). There will be no class on next Friday (10/10). I suggest you to start reviewing right now for all chapters(1,2,3,4,7) we have covered. (9/30)

Homework for Chapter 7: due (Monday 10/6) Review: 8, Numerical: 2 (9/30)

I occassionally paste some macro and financial news, just in case you also want to read them. (9/28)

Answer key to homework 3 is posted. (9/28)

Answer key to homework 2 is posted. If you need further details, feel free to come to my office hours.

As we agreed in today's class, you may have a second chance to work on the homework, especially the numerical questions. However, this is vulantary: you may elect not to do so. No penalization for not doing so.

Homework 4: due 9/29 Review: 6, 7 Numerical: 2 (a,b), 6

Updated slides for Ch.4 and raw slides for Ch.7.

Score for and answer to Quiz 1 were posted.

Raw slides for Ch.4 posted.

Homework 3: due 9/22 Review: 10, 12, 13 Analytical: 2

Suggested questions for Ch.3, but not for submission. Numerical: 3 Analytical: 4.

Sorry for the late posting. My laptop crashed today(9/9). Draft slides of Ch3 posted (The links were fixed).

Homework 2: due 9/15 Review: 3, 5 Numerical: 3 (b), 5, 6 (c,d)

Suggested homework questions for Chapter 1(Do not submit): Review question 9, 10 Analytical: 1, 4

Slides of Chapter 1 and 2 are posted.

Please note that this course is for Business majors, not for Econ majors/minors.