Erik C. Helm
Office: 333C Purnell Hall
Phone: 831-6432
E-mail: helme@udel.edu
Homepage: www.udel.edu/Economics/helme
Text:
Economics, 14th ed., McConnell & Brue, (required)
Study Guide to Accompany Macroeconomics, 14th ed., Walstad
& Bingham, (optional)
Study Guide website: www.mhhe.com/economics/mcconnell
Course Requirements and Grade Determination (Weights):
Problem Sets
= 10%
3 Midterm Examinations (20% each)
= 60%
Cumulative Final
= 30%
Tentative Examination Dates:
First Midterm Exam
March 20
Second Midterm Exam
April 12
Third Midterm Exam
May 10
Tentative Course Outline:
Chapter 2
Production Possibilities Curve (review)
Chapter 3
Demand and Supply (review)
Chapter 7
Gross Domestic Product
Measurement
Expenditure and income approach
Price level measurement
GDP price index
Inflation
Connection between GDP and welfare
Chapter 8
Business cycles
Types of unemployment
Theory and effects of inflation
Chapter 9-10
Classical employment model
assumptions
Role of government
Keynesian employment model
assumptions
Consumption function
Investment, gov. spending, and net exports
Multiplier
Chapter 11
Aggregate Demand and Supply
Chapter 12
Fiscal policy
Balanced budget multiplier
Crowding out
Chapter 13
functions and definitions of money
Federal Reserve System
Bank failures and regulatory role of gov.
Chapter 14
How banks create money
Chapter 15
Tools of Monetary policy
Effects of monetary policy on Keynesian model
Chapter 16
Monetarism
Chapter 17
Phillips curve
Supply side economics
Chapter 19
Deficits and debt
Chapter 37
Comparative advantage
Protectionism
Trade barriers- tariffs and quotas
Chapter 38
Exchange rates- fixed and flexible
Balance of trade
Chapter 39
less developed countries
Chapter 18
Growth theory
Savings
Investment
Capital formation and productivity
Education and human capital
Procedures and Policies:
1. Attendance is mandatory. You are responsible for all assignments,
notes, announcements, and materials presented in class.
2. Once in class, stay until the end of the lecture.
3. All assignments are to be turned in on the day they are due.
Any late assignments without a University recognized excuse will automatically
start at 50% credit. No late assignments will be accepted without a University
recognized excuse after the assignment has been returned to the class.
4. If a midterm or final exam is missed only students with University
recognized excuses will be able to take a makeup exam.
5. Cheating is not tolerated. Confirmed cases of academic dishonesty
will be pursued in accordance with University regulations.
6. A passing grade in ECON 151 is the prerequisite for this course.