Economics, Faculty of Liberal Arts & Professional Studies, York University
Winter 2016
AP/ECON 1910 M
Macroeconomics for Citizens: Government Hands-Off or Hands-On?
Instructor
Office
Phone
Office Hours
Email
Avi J. Cohen (economicsforlife.ca)
1072 Vari Hall
736-2100 ext. 77046
Tuesdays 9 am - noon, and by appointment
Use Discussion Board within MyEconLab for all course issues;
[email protected] only for personal correspondence
Course Description / Learning Objectives
“Economics is a science of thinking in terms of models joined to the art of choosing models which are relevant to
the contemporary world. It is compelled to be this, because, unlike the typical natural science, the material to which
it is applied is, in too many respects, not homogeneous through time. The object of a model is to segregate the
semi-permanent or relatively constant factors from those which are transitory of fluctuating so as to develop a
logical way of thinking about the latter …. Good economists are scarce because the gift for using ‘vigilant observation’
to choose good models, although it does not require a highly specialised intellectual technique, appears to be a
very rare one.” – John Maynard Keynes
AP/ECON 1910 introduces macroeconomics as the basis for making smart choices as consumers, businesspeople,
investors and informed citizens judging government policies. Focuses on the performance of market economies –
measured by GDP growth, unemployment, inflation – and appropriate roles for government monetary and fiscal
policies. Provides intuitive fundamentals for economic literacy without the mathematical details of AP/ECON 1010.
Note: Students intending to complete a minor or major in economics (ECON), business economics (BUEC) or
financial and business economics (FBEC) are advised to take ECON 1010. However, students achieving a B grade
or better can use AP/ECON 1910 3.0 to replace AP/ECON 1010 3.0 in requirements for the economics major or
minor (ECON), business economics major (BUEC), or financial and business economics major (FBEC).
You will not get credit for this course if you have completed or are currently enrolled in AP/ECON 1010,
GL/ECON 2510, or SB/INTL 1210.
Required Course Materials
Macroeconomics for Life: Smart Choices for All?, 2
nd
ed., by A. Cohen (Pearson, 2015) (includes Study Guide)
MyEconLab (MEL) Online Access (Pearson 2015); PeerScholar Online Access (Pearson 2013)
The York Bookstore carries a bundle (Package ISBN 13: 9780134400983) combining the textbook, eText access,
required MyEconLab software, and required PeerScholar software for $125 ($10 savings over buying separately).
If you already have PeerScholar access, the textbook/Etext/MEL bundle costs $120.
At www.pearsonmylab.com, enter course ID cohen70124 to see online purchase options. You can buy 12 month
access to an eText of the textbook, with MyEconLab (no peerScholar) for $90. If you buy a used print textbook,
MyEconLab access alone (no eText, no peerScholar) is available for $50. You can also get free 14 day access
to all online resources (eText, MyEconLab) to get started on coursework while you decide on what to buy.
To buy peerScholar for $15 (no free 14 day access), go to http://www.pearsoned.ca/peerscholar.
A calculator is not required and is not allowed at tests and the exam.
Any additional required readings will be posted to the course website.
AP/ECON 1910 M
1
Winter 2016
Final Grade Composition
Task
5 Online MyEconLab Quizzes
Test 1
[65 minutes]
Test 2
[65 minutes]
Op-Ed Writing Assignment
Final Exam
[120 minutes]
Totals
% of Course Grade
Marks Date
10%
20%
20%
17%
33%
45
90
90
75
150
100%
450
Throughout the term
Week of 2 February 2016
Week of 15 March 2016
Staggered dates, March-April 2016
April 6 - 20, 2016
Make-Up Policy
No permission is ever given to a student to write a test or exam in advance of its scheduled date.
A student who misses a test will be allowed to write a make-up test only if the student provides a completed
Registrar’s Office Attending Physician’s Statement showing a physical incapability of writing the test/exam,
dated the day of the test/exam or earlier.
Any other forms of doctor’s note, especially one stating simply that “The student was seen in my office”
are not acceptable. Students who miss a test and do not submit a completed Registrar’s Office Attending
Physician’s Statement receive a grade of zero.
If you miss a term test and have an acceptable Registrar’s Office Attending Physician’s Statement, you will be
allowed to write a make-up test on Thursday, 24 March 2016 during normal class time. The make-up test will cover
the material on both term tests. The make-up test is only for students who miss a term test and provide acceptable
documentation. No student is ever allowed to write a make-up test in order to improve a score from
an original test.
Deferred Final Exam Policy
Deferred Standing for the final exam will be considered only under the following circumstances:
MEDICAL CIRCUMSTANCES: Exams missed due to medical circumstances must be supported by a York
Attending Physician’s Statement filled out completely by a medical doctor or licensed psychologist/counselor,
dated on or before the final exam date. The statement must include:
• Full name, mailing address, telephone number of the physician.
• The nature of the illness and its duration (i.e., specific dates covered).
• An indication of whether the illness and/or medication prescribed would have SERIOUSLY affected the
student’s ability to study and perform over the period in question.
The physician’s office may be contacted to verify that the statement was actually completed by the physician.
NON-MEDICAL CIRCUMSTANCES: Exams missed due to non-medical circumstances must be supported by
appropriate documentation, i.e., death certificates, obituary notice, automobile accident reports, airline/bus ticket
receipt for emergency travel (with the date of booking on the ticket), etc. Airline/train/bus ticket/receipts for
emergency travel must indicate destination, departure, and return dates. Having to work at the time of the exam or
non-emergency travel are not valid excuses for missing an exam. Students must fill out the University Deferred
Standing Agreement form at http://www.registrar.yorku.ca/exams/deferred/index1.htm
The completed deferred form with supporting documentation must be submitted to the Economics Department in
1144 Vari Hall by 4:30 p.m. 29 April 2016. Submitting the form does NOT guarantee that you will be granted
permission to write the deferred exam. Only submissions that meet all requirements will be granted permission.
Students whose submissions are not granted will receive a zero for their final exam score.
AP/ECON 1910 M
2
Winter 2016
Op-Ed Writing Assignment
One of the goals of this course is to help you understand and apply basic economic concepts to daily life.
Part of your role as an informed citizen involves making sound arguments about economic issues that matter to you
and communicating these arguments effectively to others. This assignment will give you practice developing a
convincing written argument about an economic issue for a general audience.
Choose an article, editorial or opinion piece in a recent (published since 1 January 2016) online publication that
addresses a macroeconomic issue that interests you. The economic issue can be Canadian or international. In
response, write your own commentary taking a position on the issue, supporting your position by making an
argument based on sound economic reasoning. Your commentary should be 300-500 words, which is 1-2 pages
typed, double-spaced. I will provide detailed instructions in March, including procedures for reviewing your
classmates assignments through http://www.pearsoned.ca/peerscholar and submitting through turnitin.com.
Course Website and MyEconLab
ECON 1910 does not use Moodle. You can access the course website and MyEconLab at
http://pearsonmylab.com. You will need a valid Pearson access code that either came with your purchased
textbook bundle, bookstore access card, or bought online. Use that access code to get to the AP/ECON 1910
Winter 2016 (Cohen) website (the ID for this course is cohen70124) by following the instructions below.
How To Enroll in ECON 1910 Website and MyEconLab
Go to http://pearsonmylab.com
Under Register, select Student; then select OK! Register now
Enter your Course ID: cohen70124, and Continue
Enter your existing Pearson account username and password to Sign In.
• You have an account if you have used a Pearson product, for example: MyMathLab, MyITLab,
MyPsychLab, MySpanishLab or Mastering, such as MasteringBiology.
If you don’t have an account, select Create and complete the required fields.
• Enter the email address you use most, and also use that email address as your username;
• Choose a password;
• Where it asks for First Name, enter whatever name you generally use, but if it is different from
the first name on your York card, ALSO enter in parentheses your first name exactly as it appears
on your York card – for example, Arthur (Ziyue);
• Enter your Last Name exactly as it appears on your York card;
• Complete the rest of the page.
Select an access option.
• Use the access code that came with your textbook or that you bought separately from the bookstore.
• Buy access using a credit card or PayPal account.
• If available, get 14 days temporary access. (The link is near the bottom of the screen.)
For subsequent visits to the course website, please log into http://pearsonmylab.com as a returning user with the
username/password you just created.
The course website will be available by Tuesday 5 January 2016.
AP/ECON 1910 M
3
Winter 2016
Technical Support
Detailed instructions on navigating the course are available from the ‘? link at the top right of every webpage.
Once in ‘Help & Support,’ click on ‘Student Help.’
The Technical Help tab on the main course menu also contains 24/7 contact information for Pearson.
Go to http://247pearsoned.custhelp.com/ which has live chat (best).
If you have technical problems, I cannot help. Contact Pearson.
Course Work
There will be two 75 minute lectures per week. Please turn off all cell phones before entering the lecture hall. I would
appreciate it if you would not text in class – I find it very hard to concentrate and deliver good lectures when I face
texting students ignoring me. Lecture notes (in the form of PowerPoint slides) will be available by midnight the night
before class on the course website (http://pearsonmylab.com). You should print out the lecture notes and bring them
to class, as the pace of lectures will presume you have the notes in front of you. You should login to the website at
least twice a week to stay current with course information.
The term tests and final exam consist of true/false (T/F) and multiple choice (MC) questions. There will not be short
answer problems (SAP). These will be similar to the questions in the MyEconLab and Study Guide Assignments
on the course outline for each textbook chapter. Previous term tests, exams and answer guides are posted online
so you have an idea what to expect (without the SAP). If you want additional practice, there are also Optional
Assignments for MyEconLab and the Study Guide listed for each chapter on the course website. None of these
assignments will be graded and will not directly affect your grade. However, the importance of doing the assigned
questions cannot be overemphasized. Next to attending and understanding the lectures, working out the answers
to the assigned questions is the most important preparation for the term tests and exam. You will not do well if you
cannot answer the assigned questions. The term tests and exam will also cover news stories and other
non-textbook material covered in lecture.
One danger of a course where you do not have written, graded assignments is that you fall behind in your
reading and studying. In most university courses, but in Economics in particular, falling behind is a recipe for
disaster, as last minute cramming does not work. The failure rate on first term tests in Economics is typically high
because students do not take this advice. To help prevent this outcome, there are online quizzes throughout
the term that must be completed by specific dates.
The first quiz, Quiz Zero, appears on the course website and is designed to ensure that you are familiar with all
of the rules of this course. All of the answers to the questions in Quiz Zero may be found in this course outline.
You may take Quiz Zero as many times as necessary until you get all questions right. While you will not receive
any marks towards your final course grade, you will not be able to access the graded quizzes until you complete
Quiz Zero with a perfect score. Once your complete Quiz Zero with a perfect score, the excuse of "I didn't know
that rule for make-ups / missed quizzes / test times / appeals, etc" will, of course, not apply to you. Quiz Zero will
also help you get familiar with MyEconLab.
You will have up to1 week to complete each of the 5 graded quizzes, and they can be accessed from any
computer with an internet connection, anywhere in the world. Accordingly, I do not accept any excuses for
missing a quiz.
Read the How to Succeed page on the website for advice on studying if you want to increase your chances of
earning a higher grade. Another tip is to be sure to attend lectures. One common mistake students make is to
think that because the PowerPoint lecture notes are available online, there is no reason to attend lectures. The
notes contain the main concepts, but do not contain the detailed explanations and examples that help you make
sense of the concepts. The tests and exam focus less on recall of information, and more on application of
concepts to different situations. That is also why working the practice problems in the Assignments and old
tests is important.
AP/ECON 1910 M
4
Winter 2016
The lecture schedule on page 7 indicates, for each week, the textbook chapters you should be reading and the
MyEconLab and Study Guide Assignments. I may not always finish a topic on the listed date, in which case I will
continue lecturing on that topic at the start of the next class, before moving on to the listed topic for that date.
Quiz dates are also listed on the lecture schedule.
Workload
A typical 3 credit course requires 100 hours of your time. The table below identifies how I expect those 100
hours will be allocated. While you do not receive direct marks for reading and for doing Study Guide and MEL
problems, those activities will affect your Quiz, Test, and Exam marks. The time estimates for the Tests and
Exam are in addition to the regular 3 hours/week of reading, Study Guide, and MEL practice.
Activity
Class Time
Hours
2.5 hours/week
30
Textbook
2 hours/week
(& Study Guide)
24
MEL Practice
12
1 hour/week
Quizzes
5
Term Tests
10
Final Exam
13
Op-Ed
TOTAL
6
100 hours
Important Dates
January 17, 2016
March 4, 2016
Last date to enrol in AP/ECON 1910 without permission of instructor
Last date to drop AP/ECON 1910 without receiving a grade
Academic Honesty
Students should note that copying, plagiarizing, or other forms of academic misconduct will not be tolerated.
That includes using a calculator on a test or exam. Any student caught engaging in such activities will be
subject to academic discipline ranging from a mark of zero on the assignment, test or examination to dismissal
from the university. Any student abetting or otherwise assisting in such misconduct will also be subject to
academic penalties.
Cheating and plagiarism are serious offences, which carry severe penalties. All students are
expected to make themselves familiar with the Senate Policy on Academic Honesty, which is at
http://www.yorku.ca/secretariat/policies/document.php?document=69
AP/ECON 1910 M
5
Winter 2016
Tutorials And Teaching Assistant
There are no tutorials for this course. The teaching assistant, Rachel Harris, will hold regular
office hours, which will be announced later in January. She will also answer any questions you post on the
“Macroeconomic Questions” Discussion Board on the course website.
Let’s Go
If you don’t learn a lot of Economics, or find this course interesting or enjoyable, then I’m not doing my job.
I love teaching this course, and consider it my responsibility to help you to do well. Learning Economics means
working hard (on average, 5 hours per week on Economics alone). You are responsible for engaging with the
material and with me and your fellow students in class. But if you are willing to put in the time, I will do everything
I can to help you succeed. If you have questions in lecture, ask them. If you see media stories about Economics
that interest you, send them to me. If you have suggestions for improving the course, please let me know. What
you will get out of this course, as what you will get out of your University experience in general, depends entirely
on what you put into it.
AP/ECON 1910 M
6
Winter 2016
LECTURE SCHEDULE AND ASSIGNMENTS
Winter 2016 AP/ECON 1910
WEEK OF
TOPIC
READING
ASSIGNMENTS
MEL & STUDY GUIDE (T/F, MC)
ASSIGNMENTS
Jan. 5
Are Your Smart Choices Smart for All?:
Macroeconomics and Microeconomics
Macro Ch. 5
Ch. 5:
MEL
Study Plan
T/F & MC All
Jan. 12
GDP, Economic Growth, Business Cycles
Macro Ch. 6
Ch. 6:
MEL
Study Plan
T/F & MC All
Jan. 19
GDP, Economic Growth, Business Cycles
Macro Ch. 6
(continued)
Jan. 26
Unemployment and Inflation
Macro Ch. 7
QUIZZES
Quiz Zero available
Quiz 01 (Chs 5-6)
due Saturday,
23 January
Ch. 7:
MEL
Study Plan
T/F & MC All
Quiz 02 (Ch 7)
due Saturday,
30 January
TEST 1 – Week of February 2 (Tuesday or Thursday TBA)
Feb. 2
Brief Micro Demand and Supply
Macro Ch 1.4 only:
Macro Ch 2;
Macro Ch 3:
Macro Ch. 4.1-4.4
only
Ch. 2:
Ch. 3:
Ch. 4:
Feb. 9
Aggregate Supply and Aggregate Demand
Feb. 16
No classes – Reading week
Feb. 23
MEL
Study Plan &
Narrated Dynamic Graphs
MEL
Study Plan &
Narrated Dynamic Graphs
MEL
Study Plan &
Narrated Dynamic Graphs
Macro Ch. 8
Ch. 8:
MEL
Study Plan
T/F & MC All
Demanders and Suppliers of Money
Macro Ch. 9
Ch. 9:
MEL
Study Plan
T/F & MC All
Mar. 1
Exchange Rates and Payments with
the Rest of the World
Macro Ch. 10
Ch. 10:
MEL
Study Plan
T/F & MC All
Mar. 8
Monetary Policy and the Bank of Canada
Macro Ch. 11
Ch. 11: MEL
Study Plan
T/F & MC All
Quiz 03 (Chs 8-9)
due Saturday,
27 February
Quiz 04 (Chs 10-11)
due Saturday,
12 March
TEST 2 – Week of March 15 (Tuesday or Thursday TBA)
Mar. 15
Information on Op-Ed Assignment
Mar. 22
Fiscal Policy, Deficits, National Debt
Macro Ch. 12
Ch. 12:
MEL
Study Plan
T/F & MC All
Mar. 29
Globalization and Trade Policy
Macro Ch. 13
Ch. 13:
MEL
Study Plan
T/F & MC All
Quiz 05 (Chs 12-13)
due Saturday,
2 April
FINAL EXAM – April 6 – 20, 2016
AP/ECON 1910 M
7
Winter 2016