ECON*1100 Introductory Macroeconomics
This course looks at the Canadian Economy in terms of aggregate performance and policy; analysis of the determinants of national income, employment and the price level, and the role of government monetary and fiscal policies in improving the rate of economic growth.
CourseLink (powered by D2L’s Brightspace) is the course website and will act as your classroom. It is recommended that you log in to your course website every day to check for announcements, access course materials, and review the weekly schedule and assignment requirements.
For this course, you will be required to access course reserve materials through the Library. To access these items, select Ares on the navbar in CourseLink. Note that you will need your Central Login ID and password in order to access items on reserve.
Course Learning Outcomes
In this course, we will be building on the concepts that were presented in Introductory Microeconomics and extending our study to such topics as national income, employment, the price level and the role of government fiscal and monetary policies. More than this though, we will try to develop a “method of thinking” about everyday problems in order to better understand some of the controversies that exist in the Canadian economy today. This course also looks at the Canadian Economy in terms of aggregate performance and policy.
By the end of this course, you should be able to:
1. Recognize macroeconomic concepts including GDP, price indices, growth, exchange rates, interest rates, money multipliers, expenditure multipliers, balance of payments, budget balances, trade balances and productivity measures;
2. Measure economic activity including inflation, GDP, unemployment, savings, and balance of payments;
3. Interpret expansionary and inflationary gaps, economic booms and recessions, and distinguish between short-run and long run macroeconomic outcomes;
4. Analyze and interpret economic models such as the foreign exchange market model, the loanable funds market model, the aggregate expenditure model, and the AD/AS model;
5. Analyze financial markets including the foreign exchange market, the money market, and the bond market;
6. Explain and give examples of monetary, fiscal, and exchange rate policy;
7. Justify an opinion on the role of government with respect to the values of Canadian macroeconomic indicators; and
8. Interpret Canadian economic performance in a historical and global context.
Teaching and Learning Activities Course Structure
• Unit 01: Introduction to Macroeconomics: How Markets Work
• Unit 02: Macroeconomic Indicators and their Measurement
• Unit 03: Economic Growth
• Unit 04: The Economy in the Short Run
• Unit 05: Monetary and Fiscal Policy
• Unit 06: Macroeconomics in an Open Economy
It is strongly recommended that you follow the course schedule provided below. The schedule outlines what you should be working on each week of the course and lists the important due dates for the assessments. By following the schedule, you will be better prepared to complete the assessments and succeed in this course.
Unit 01: Introduction to Macroeconomics: How Markets Work
• Website: Unit 01 Content
o Macroeconomics – Chapters 1 and Appendix A, and 2 (section 2.1 only)
o Dinner Party Economics – Chapters 1-3
• Familiarize yourself with the course website by reviewing the Start Here section of the course.
• Review the Outline and Assessments sections on the course website to learn about course expectations, assessments, and due dates.
• Introduce yourself in the Introductions Discussion.
• Register for MyEconLab
• Website: Unit 01 Content
o Macroeconomics – Chapters 3 and 14 (section 14.2 only)
o Dinner Party Economics – Chapters 4-6
• MyEconLab Assignment 1
• MyEconLab Assignment 2
Unit 02: Macroeconomic Indicators and their Measurement
• Website: Unit 02 Content
o Macroeconomics – Chapters 4 and 5 (sections 5.1, 5.2, and 5.3)
o Dinner Party Economics – Chapters 7-9
• Test 1
• MyEconLab Assignment 3
Unit 02: Macroeconomic Indicators and their Measurement And Unit 03: Economic Growth
• Website: Unit 02 and Unit 03 Content
o Macroeconomics – Chapters 5 (sections 5.4, 5.5, 5.6, and 5.7) and 6
o Dinner Party Economics – Chapters 9-12
MyEconLab Assignment 4
Unit 03: Economic Growth
• Website: Unit 03 Content
l Macroeconomics – Chapter 7
• Test 2
• MyEconLab Assignment 5
Unit 04: The Economy in the Short Run
• Website: Unit 04 Content
l Macroeconomics – Chapter 8 and Appendix C
• Submit PEAR Assignment to Pearson Tutor Services (MyEconLab)
• MyEconLab Assignment 6
• Website: Unit 04 Content
l Macroeconomics – Chapter 9 and Appendix D
• Test 3
• MyEconLab Assignment 7
Unit 05: Monetary and Fiscal Policy
• Website: Unit 05 Content
o Macroeconomics – Chapter 10
• PEAR Assignment
• MyEconLab Assignment 8
• Website: Unit 05 Content
l Macroeconomics – Chapter 11
• Test 4
• MyEconLab Assignment 9
• Website: Unit 05 Content
l Macroeconomics – Chapter 12 and Appendix E
• PEAR Assignment Reviews
• MyEconLab Assignment 10
• Website: Unit 05 Content
l Macroeconomics – Chapter 13
• MyEconLab Assignment 11
• Test 5
Unit 06: Macroeconomics in an Open Economy
Website: Unit 06 Content
l Macroeconomics – Chapter 14
MyEconLab Assignment 12
The grade determination for this course is indicated in the following table. A brief description of each assessment is provided below. Select Content on the navbar to locate Assessments in the table of contents panel to review further details of each assessment. Due dates can be found under the Schedule heading of this outline. Note that MyEconLab is a required course component. You still need to purchase it as it is necessary for submission of your PEAR assignment.
The PEAR Assignment is a three-step process requiring you to submit a draft of your essay to Pearson Tutor Services, to the TurnItIn Dropbox, and then to PEAR for peer evaluation. Details about resources available, assessment details, and submission instructions can be found by clicking on Contents in the navigation bar on your course homepage, selecting Assessments from the left-hand menu, and then selecting the PEAR Assignment.
There are 12 graded MyEconLab quizzes during the semester; your lowest two quiz marks will be dropped. You can access the quizzes through MyEconLab in the Tools dropdown menu. There are two non-graded math review quizzes that allow you to review the mathematics used in the course. The graded quiz content is as follows Quiz 1 – Chapters 1 and 2 (section 2.1 only)
Quiz 2 – Chapters 3
Quiz 3 – Chapters 4 and 5 (sections 5.1 – 5.3)
Quiz 4 – Chapters 5 (sections 5.4. – 5.7) and 6
Quiz 5 – Chapter 7
Quiz 6 – Chapter 8
Quiz 7 – Chapter 9
Quiz 8 – Chapter 10
Quiz 9 – Chapter 11
Quiz 10 – Chapter 12
Quiz 11 – Chapter 13
Quiz 12 – Chapter 14
There will be 5 online tests, including 1 ungraded practice test. Of the 4 graded tests, your best 3 tests will contribute to your final grade. Tests are 60 minutes long. Test coverage is as follows:
• Test 1 - Chapters 4 and 5 Hubbard et. al. (practice test - doesn't count toward overall test mark)
• Test 2 - Chapters 6 and 7 Hubbard et. al.
• Test 3 - Chapters 8 and 9 Hubbard et. al.
• Test 4 - Chapters 10 and 11 Hubbard et. al.
Test 5 - Chapters 12 and 13 Hubbard et. al.
In each test 18 questions, from each of two chapters covered, are chosen randomly for a test bank that is organized by level of difficulty. Every student gets a test with similar coverage and similar level of difficulty.
This course requires you to write a traditional sit-down final exam. Final exams are written on campus at the University of Guelph or at alternate locations for students at a distance. It is very important to note that you must pass the final examination in order to pass this course. The final examination will be multiple choice (and hence similar to the MyEconLab quizzes and the five online tests) and will cover All of the course readings. The majority of the questions (90% or higher) will be taken from the Hubbard et al. textbook with the remainder being taken from the Adomait and Maranta textbook.
Note that you must receive at least a 50% on the final exam to pass this course. If you do not pass the final exam your course mark will be your final exam mark or your cumulative average using the higher mark from grading scheme 1 or 2, whichever is lower. (For example, if your final exam mark is a 45, your cumulative average using scheme 1 is a 52 and using scheme 2 is a 54, you will receive a 45 in the course. If your final exam mark is a 45, your cumulative average using scheme 1 is a 40 and using scheme 2 is a 38, you will receive a 40 in the course.)
If you pass the final exam with a 50% or higher you will pass the course. If your cumulative average using the higher mark from grading scheme 1 or 2 is less than a 50%, and you pass the final with a 50% or higher, your final mark will be a 50. If your cumulative average is greater than 50% using the higher mark from grading scheme 1 or 2, and you pass the final exam with a 50% or higher, your final mark will be your cumulative average. (For example, if your final exam mark is a 60 and your cumulative average obtained by taking the greater of scheme 1 or 2 is a 45, you will receive a 50 in the course. If your final exam mark is a 60 and your cumulative average obtained by taking the greater of scheme 1 or 2 is a 66 you will receive a 66 in the course.)
It is assumed that all DE students will be writing their final examination on campus at the University of Guelph. University of Guelph degree and associate diploma students must check WebAdvisor for their examination schedule. Open Learning program students must check the Open Learning Program Final Examination Schedule for their examination schedule.
If you are studying at a distance, you can request to write your final exam at an alternate location. It is recommended that you make arrangements as early as possible in the semester since changes cannot be guaranteed after the deadline. Exam schedules for off-campus exams will be emailed by Week 9 of the course. For more information, please visit Final Exams.
Course Technologies and Technical Support
CourseLink System Requirements
You are responsible for ensuring that your computer system meets the necessary system requirements. Use the browser check tool to ensure your browser settings are compatible and up to date. (Results will be displayed in a new browser window).
As part of your online experience, you are expected to use a variety of technology as part of your learning:
• Manage files and folders on your computer (e.g., save, name, copy, backup, rename, delete, and check properties);
• Install software, security, and virus protection;
• Use office applications (e.g., Word, PowerPoint, Excel, or similar) to create documents;
• Be comfortable uploading and downloading saved files;
• Communicate using email (e.g., create, receive, reply, print, send, download, and open attachments);
• Navigate the CourseLink learning environment and use the essential tools, such as Dropbox, Quizzes, Discussions, and Grades (the instructions for this are given in your course);
• Access, navigate, and search the Internet using a web browser (e.g., Firefox, Internet Explorer); and
• Perform online research using various search engines (e.g., Google) and library databases.
• Announcements: The instructor will use Announcements on the Course Home page to provide you with course reminders and updates. Please check this section frequently for course updates from your instructor.
• Ask Your Instructor Discussion: Use this discussion forum to ask questions of your instructor about content or course-related issues with which you are unfamiliar. If you encounter difficulties, the instructor is here to help you. Please post general course-related questions to the discussion forum so that all students have an opportunity to review the response. To access this discussion forum, select Discussions from the Tools dropdown menu. The instructor will respond within 24 hours (Monday through Friday).
• Email: If you have a conflict that prevents you from completing course requirements, or have a question concerning a personal matter, you can send your instructor a private message by email. The instructor will respond to your email within 24 hours (Monday through Friday).
• Phone: If you have a complex question you would like to discuss with your instructor, you may book a meeting in person or arrange a phone conversation. Meetings will depend on the availability of you and the instructor, and are booked on a first come first served basis. Typically the instructor will be available for two 90 minute time periods on two different days of the week, and by appointment.
For distance education courses, the course website is considered the classroom and the same protections, expectations, guidelines, and regulations used in face-to-face settings apply, plus other policies and considerations that come into play specifically because these courses are online.
Inappropriate online behaviour will not be tolerated. Examples of inappropriate online behaviour include:
• Posting inflammatory messages about your instructor or fellow students;
• Using obscene or offensive language online;
• Copying or presenting someone else's work as your own;
• Adapting information from the Internet without using proper citations or references;
• Buying or selling term papers or assignments;
• Posting or selling course materials to course notes websites;
• Having someone else complete your quiz or completing a quiz for/with another student;
• Stating false claims about lost quiz answers or other assignment submissions;
• Threatening or harassing a student or instructor online;
• Discriminating against fellow students, instructors, and/or TAs;
• Using the course website to promote profit-driven products or services;
• Attempting to compromise the security or functionality of the learning management system; and
• Sharing your username and password.
Submission of PEAR Assignment
The PEAR Assignment submission is a three-step process: (A more detailed discussion is given by clicking on Contents on the navigation bar, selecting Assessments from the left-hand menu, and clicking on PEAR Assignment).
1. Once you have enrolled in MyEconLab, click on the Pearson widget on the
course’s CourseLink homepage. Convert your assignment into a Microsoft Word document, title it “PEAR Writing Assignment” at the top of the document and save it as “ECON1100 - PEAR Writing Assignment – Student First Name and Last Name. Submit your document through the Pearson Tutor Services, found in MyEconLab by clicking on the green Pearson App. You will receive comments from Pearson to incorporate in your next assignment submission. You only receive ONE submission to Pearson Tutor Services.
2. Using the Tools menu on the CourseLink navbar, you will submit the revised essay (incorporating Pearson tutor service comments) to the Turnitin Dropbox. Submit this as a Word document as well. Within an hour you can visit the TurnItIn Dropbox to get your “originality” score.
3. If your Turnitin originality score is 20 or below, click on the Tools menu on the navbar and select PEAR Submission. Note that MyEconLab’s Pearson Tutor Services submission is NOT the same as your PEAR submission – these are TWO separate submissions.You will be asked to login with your UoGuelph username and password.
Note: When submitting your assignments using the Turnitin Dropbox tool and the PEAR Submission link, do not leave the page until your assignment has been successfully uploaded. To verify that your submission was complete, you can view the submission for you to confirm that you successfully uploaded the correct files. The system will also email you a receipt; save this email receipt as poof of submission. Carefully read the section on PEAR on the Assessments page in CourseLink for more details.
Be sure to keep a back-up copy of all your assignments in the event that they are lost in transition. In order to avoid any last-minute computer problems, your instructor strongly recommend you save your assignments to a cloud-based file storage (e.g., Google Docs), or send to your email account, so that should something happen to your computer, the assignment could still be submitted on time or re-submitted.
It is your responsibility to submit your assignments on time as specified in the schedule section of this outline. Be sure to check the technical requirements and make sure you have the proper computer, that you have a supported browser, and that you have reliable Internet access. Remember that technical difficulty is not an excuse not to turn in your assignment on time. Don’t wait until the last minute as you may get behind in your work.
If, for some reason, you have a technical difficulty when submitting your assignment electronically, please contact your instructor or CourseLink Support.
If you choose to submit your individual assignments to the Dropbox and PEAR tools late, you will not be assigned other students’ papers for review, in this case you will receive a zero on the PEAR assignment. There are no make-up quizzes or tests.
Extensions will be considered for medical reasons or other extenuating circumstances. If you require an extension, discuss this with the instructor as soon as possible and well before the due date. Barring exceptional circumstances, extensions will not be granted once the due date has passed. These rules are not designed to be arbitrary, nor are they inflexible. They are designed to keep you organized, to ensure that all students have the same amount of time to work on assignments, and to help to return marked materials to you in the shortest possible time.