Department of Global and Interdisciplinary Studies

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ECN100ZA(経済学 / Economics 100)
Macroeconomics I

Alberto Iniguez

Class code etc
Faculty/Graduate school Department of Global and Interdisciplinary Studies
Attached documents
Year 2024
Class code A6147
Previous Class code
Previous Class title
Term 春学期授業/Spring
Day/Period 金4/Fri.4
Class Type
Campus 市ヶ谷 / Ichigaya
Classroom name 市Y‐Y801
Grade 1~4
Credit(s) 2
Notes
Open Program
Open Program (Notes)
Global Open Program
Interdepartmental class taking system for Academic Achievers
Interdepartmental class taking system for Academic Achievers (Notes)
Class taught by instructors with practical experience
SDGs CP
Urban Design CP
Diversity CP
Learning for the Future CP
Carbon Neutral CP
Chiyoda Campus Consortium
Duplicate Subjects Taken Under Previous Class Title
Category (commenced 2024 onwards) 100-level Introductory Courses(入門)
Business-Economics-IT
Category (commenced 2020-2023) 100-level Introductory Courses(入門)
Management Sciences
Category (commenced 2016-2019) 100-level Introductory Courses
Business and Economy

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Outline and objectives

This course will provide an overview of macroeconomic issues: the determination of output, the cost of living and inflation, production and growth, and the financial and monetary systems. It introduces basic concepts of macroeconomics and illustrates the principles with the experiences of the developed and developing economies.

To prepare students for embarking confidently on their journey in the world of economic analysis and for seriously analyzing the economic signals and data we all face daily to be able to justify views and opinions with sound economic reasoning.

Goal

By the end of the course, students will be able to:
1. Understand the economic way of thinking and the basic macroeconomic variables that are used to evaluate economies.
2. Understand some policy implications in macroeconomics.
3. Apply the knowledge to conduct case studies.
4. Relate real-life economic issues to macroeconomic theories and analyze these issues with the tools learned in the course.

Which item of the diploma policy will be obtained by taking this class?

Will be able to gain “DP 1”, “DP 2”, “DP 3”, and “DP 4”.

Default language used in class

英語 / English

Method(s)(学期の途中で変更になる場合には、別途提示します。 /If the Method(s) is changed, we will announce the details of any changes. )

This course will be mainly conducted through lectures. Students are expected to read the required material prior to each lecture to discuss and solve problems in class. Assignments and related feedback will be given via the learning-management system. Additionally, midterm-exam and in-class-assignment feedback will be provided in class.

Active learning in class (Group discussion, Debate.etc.)

あり / Yes

Fieldwork in class

なし / No

Schedule

授業形態/methods of teaching:対面/face to face

※各回の授業形態は予定です。教員の指示に従ってください。

1[オンライン/online]:Introduction to the Course (Syllabus)

Ten Principles of Economics (Ch1)

Introduction to the Course (Syllabus)

Ten Principles of Economics (Ch1)

2[対面/face to face]:Ten Principles of Economics (Ch1)

Thinking Like an Economist (Ch2)

Principles of economics

The economist as scientist
The economists as policy advisors
Economic models

3[対面/face to face]:Thinking Like an Economist (Ch2)

The circular-flow diagram
The production possibilities frontier

4[オンライン/online]:Interdependence and the Gains from Trade (Ch3)

International trade theory
Absolute and comparative advantages
Case study

5[対面/face to face]:Measuring a Nation's Income (Ch24)

The economy's income and expenditure
The components of GDP

6[対面/face to face]:Measuring a Nation's Income (Ch24)

Real versus nominal GDP
Is GDP a good measure of economic well-being?
Problems

7[対面/face to face]:Review & midterm exam

Assess students' performance for the 1st half of the course (week 1-6).

8[オンライン/online]:Measuring the Cost of Living (Ch25)

Inflation, the consumer price index (CPI), GDP deflator versus the CPI

9[対面/face to face]:Measuring the Cost of Living (Ch25)

Correcting economic variables for the effects of inflation
Problems

10[対面/face to face]:Production and Growth (Ch26)

Economic growth
Productivity
Economic growth and public policy

11[対面/face to face]:Production and Growth (Ch26)

Saving, Investment, and the Financial System -1 (Ch27)

Doughnut economics & the East-Asian miracle

Financial institutions in the economy
Saving and investment

12[対面/face to face]:Saving, Investment, and the Financial System -2 (Ch27)

The Monetary System -1 (Ch30)

The market for loanable funds
Problems

The meaning of money
The federal reserve system

13[対面/face to face]:The Monetary System -2 (Ch30)

The federal reserve system
Banks and the money supply

14[対面/face to face]:Review & final exam

Assess students' performance for the 2nd half of the course (week 8-13).

Work to be done outside of class (preparation, etc.)

Students are expected to read the relevant material (textbook/articles/cases) and to participate in class discussions. Preparatory study and review time for this class are 2 hours each.

Textbooks

Mankiw, N. Gregory. Principles of Economics, 10th Edition. Cengage, 2024. (ISBN-13: 9788000046389). Digital version. MindTap-access code included and required to submit your assignments. (Required; sold as a bundle by Cengage at
https://www.cengageasiaestore.com/jp/9788000046389.html)

Students should not buy the physical copy of the textbook. You should buy MindTap, 24-month-digital access, which includes the eText for "Principles of Economics", from Cengage through the link shared above. This is the REQUIRED material to submit assignments.

Cengage provides a 60% discount on the purchase to Hosei University students when using the following discount code: JPCFE2024SP (Available till 2024/5/20) Special Price: 7,400 JPY (before tax) 8,140 JPY (with tax). To obtain the discount, add the product to the cart and then apply the discount code before proceeding to checkout.

References

Principles of Macroeconomics, by Stevenson and Wolfers, Worth Publishers, Second Edition (2023).

Grading criteria

1. Participation: 10%
2. Homework: 20%
3. Midterm exam: 35%
4. Final exam: 35%

Changes following student comments

Students are encouraged to provide feedback and suggestion regarding the course. Constructive suggestion is appreciated and may be taken for course adjustment.

Equipment student needs to prepare

A calculator and a ruler are required.

Others

Students who have completed Understanding Macroeconomics cannot take this course.

Prerequisite

None.