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Economics 311 Money and Income

Economics 311 Money and Income. Introduction Spring 2002 Department of Economics College of Business and Economics California State University-Northridge Professor Kenneth Ng. Administrative Details (2). Textbook: Robert Barro, Macroeconomics, 5e. Course will follow Barro closely.

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Economics 311 Money and Income

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  1. Economics 311Money and Income Introduction Spring 2002 Department of Economics College of Business and Economics California State University-Northridge Professor Kenneth Ng

  2. Administrative Details (2) • Textbook: Robert Barro, Macroeconomics, 5e. • Course will follow Barro closely. • Subject matter, notation, etc.

  3. Administrative Details (1) • Adding and dropping. • All sections currently full. • TTR drop/add during the first two weeks. • Will add up to the enrollment limit as spaces become available on Tuesday of the 3rd and 4th week of class. • Concurrent Enrollment and Open University Students will be added on the Thursday of the 3rd week of class—space permitting.

  4. Administrative Details (3) • Class website: ng.csun.edu. • Reading List. • Exam Archive. • Assignments. • Slides from lectures. • Slides will be updated immediately following class. • Grade Roster.

  5. Grading • Grade is based on 2 exams plus a final. • Weighting: Exams 25% each. Final 50%. • The final will be comprehensive. • Before each exam there will be at least two homework or other types of exercise. • The assignments will be worth 10 points each. • Points will be added to the next exam before computing the curve. • 5 points deducted for not completing assignment.

  6. The Curve • Grades in the class will be mean based. • Letter grade is determined by how well each student performs relative to the average performance of all students in the class. • Roughly speaking, 1/3rd of the class will receive an A or B, 1/3rd a C, and 1/3rd (including those who do not complete the class) a D or F. • Scores on the three exams including homework will be averaged into a course score using the formula:

  7. The Curve (2) • Each exam’s normalized course score measures how far a score is from the mean score of all students taking the exam and is computed using the formula: • A Normalized Exam Score of 0 is the mean. • A positive Normalized Exam Score is a score above the mean. • A negative Normalized Exam Score is a score below the mean.

  8. How to get a good grade in this class • Follow a cycle of preparation and review. • Before each new section of material give Barro a quick read. • Attend lecture. • After each lecture download the Powerpoint slides and review. Make sure that you understand everything discussed in class. • Somewhere in the middle of a section of material download the sample exams. Choose a few questions and try to answer them under exam like conditions. • Complete all assignments. • Scoring 10 points from homework assignments prior to each exam is equivalent to improving one letter grade. • Missing both assignments prior to an exam is equivalent to lowering you grade by 1+ letter.

  9. Course Objective (1) • Will develop a general purpose macro-economics model of an economy. • Concentrate on 3 key decisions made by economic agents: • Work/Leisure-Chapter 2 • Consumption Now vs. Consumption Later-Chapter 3 • Money-Chapter 4 • Combining these 3 decisions generates the Basic Market Clearing Market -Chapter 5.

  10. Course Objectives (2) • Use the Basic Market Clearing Model to engage in economic analysis. • If there is a change in the world what effect will it have on the economy. • Changes in the world. • Government Policy-Taxes, Money Supply, and Regulation. • Natural Disaster-Earthquake, Terrorist Attack. • Effect on the Economy. • Output-GNP, GNP per capita. • Employment/Unemployment. • Prices-Inflation/Deflation.

  11. Reading Assignment for Thursday • Chapter 1 in Barro. • No Class on Thursday.

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