Economics 102                                                     Fall 1995
Dennis Coates                                   Office:  Administration 808
Office Hours: MWF 10:00-10:50, or by appointment     Office Phone: 455-3243
                                       email address: coates@umbc7.umbc.edu


This course is intended to introduce the students to some basic macroeconomic concepts.  Much of the
focus will be on the ability of the federal government to manage the macro economy to sustain
economic growth, insure against excessive inflation, and protect against joblessness.  In short, the
course will provide students with institutional knowledge and economic theory which will help the
students better understand policy debates regarding the taxing and spending policies of the government
and the monetary policies of the Federal Reserve.  Because any policy action taken by the government
or the Federal Reserve has political impacts, the students will also learn about the interaction of politics
and policy formation.

A typical class meeting will follow a lecture format, though students are encouraged to ask questions
during and after the presentation of the material.  To assist in the learning process, students will be
assigned four brief homework sets, two before the midterm exam and two after.  These homeworks
will consist of a few matching, multiple choice, or (very) short answer questions intended to guide the
students study to the most important topics.  

The grade for the course will be determined based on these four homeworks (5% each for a total of
20%), one midterm examination (20%), the final examination (40%), and a short book review (20%).  
The midterm exam is scheduled for October 13th.  The book review is due on December 8th.  Book
reviews not in my hands by 4:30 p.m. on December 8th receive a zero.  Homeworks are due on
September 25, October 11, November 6, and December 11.  Homeworks not in my hands by 4:30
p.m. on the relevant due date receive a zero.

The text book for the course is :  Macroeconomics: Principles and Policy by William Baumol and Alan
Blinder.

The book for the review is: Economic Politics by William Keech.

In addition, though it is not required, it is highly recommended that the student spend some time each
week reading about macroeconomic policy from a good daily newspaper.  The Baltimore Sun, The
Wasington Post, The New York Times, or The Wall Street Journal are all reasonable choices. 

                     Instructions for the book review

The book review must be typed, double-spaced with one inch margins on all sides.  On a cover page
include your name, the time your class meets, and a title for the review.  The text of your review must
be no more than two pages.  Anything more than two pages will be ignored.  The substance of your
review should be to indicate the general theme (s) of  the book, and your reactions to the arguments. 
For example, if the author concludes something that you think is incorrect, say why.  If you think the
author has said something profound that every citizen should know, explain that also.  It might be
useful for you to look at a few book reviews in the newspaper or in an academic journal as a guide. 
For an academic journal example, Public Choice, a journal in the library on the intersection of
economics and politics, publishes book reviews in every issue.

                     Semester Timetable (Approximate)

1.  September 6-11.  Introduction, chapters 1 and 2, including the appendices, from the text.

2.  September 13-18.  Chapter 3 and start of chapter 4.

3.  September 20-25.  Finish chapter 4, chapter 5.

4.  September 25.  First homework due.

5.  September 25-October 2.  Finish chapter 5.  Cover chapter 6, including the appendix.

6.  October 4-9.  Chapter 7, including the appendices.

7.  October 11.  Second homework due.

8.  October 13.  Midterm exam.

9.  October 16.   Return exams.

10.  October 18-23.  Chapter 8 and start of chapter 9, including appendices.

11.  October 25-30.  Finish chapter 9, chapter 10.

12.  November 1-6.  Chapter 11, including appendix.   Start chapter 12.

13.  November 6.  Third homework due.

14.  November 8-13.  Finish chapter 12, start chapter 13.

15.  November 15-20.  Finish chapter 13, start chapter 14.

16.  November 22-29.  Finish chapter 14, start chapter 15.

17.  December 1-8.  Finish chapter 15, chapter 16, chapter 17.  

18.  December 8.  Book review due.

19.  December 11.  Review. 

20.  December 11.   Final homework due.

21.  The final exam is as scheduled in the Fall Schedule of Classes.