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AMDG

Ateneo de Manila University

School of Social Sciences
Department of Economics

Economics 112: Intermediate Macroeconomic Theory

Section B, Summer 2010
Daily, 1030-1200, Kostka 302
Daryl Patrick Ruiz

Course Description
Economics 112 is a course in macroeconomic concepts and models. The course covers important concepts in
national income, consumption, investment, money and inflation, open economies, unemployment, and
economic growth.

Course Objectives
The course aims to develop an understanding of macroeconomic concepts in the context of the economic
experience of the Philippines and of other countries. Students are expected to have an appreciation of the
processes involved in formulating insights on the macroeconomy and in translating these insights into policies.

Course Outline
1. Introduction
Data of Macroeconomics: Concepts and Measures
2. The Economy in the Long Run
National Income
Consumption
Investment
Money and Inflation
Open Economy
Unemployment
3. The Economy in the Very Long Run: Growth Models
4. The Economy in the Short Run
5. Macroeconomic Issues and Policies in Relation to Development

Important Dates
April 30 Midterm Exam
May 1 Labor Day
May 10 Election Day
May 17-18 Final Exam

Required Readings
Mankiw, N. Gregory (2007). Macroeconomics, Sixth Edition. Worth Publishers: New York.
Readings from other sources will be distributed online or through a designated photocopying station. Students
are advised to keep themselves updated with the news. Recent events will be used to contextualize discussions
in class and will appear on quizzes and exams.

Course Requirements
To pass the course, one has to get a letter grade of D or higher. Grades will be calculated from several short
quizzes, a midterm exam, and a final exam. Quizzes may take on many different forms, may have different
weights in the computation of the final grade, and may be unannounced. The final exam is comprehensive but
heavily draws from topics in class not covered by the long exams. It is the prerogative of the teacher to curve
grades, to assign extra work that can add points to any of the requirements, and to accept alternative work to
replace any of the requirements altogether.

Grading System
Grade Components Grading Scale
Quizzes, 200 pts total 50% 92.00 – 100.00 A
Midterm Exam, 100 pts 25% 87.00 – 91.99 B+
Final Exam, 100 pts 25% 82.00 – 86.99 B
77.00 – 81.99 C+
71.00 – 76.99 C
65.00 – 70.99 D
64.99 and below F

To be exempted from taking the final exam, one has to get a prefinal grade of at least 90.00. Students who are
exempted from taking the final exam may still take it to increase his letter grade. As a matter of privilege, he
does not face any risk of getting a final letter grade lower than his prefinal grade if he decides to take the final
exam.

Classroom Policies
Attendance is checked at the start of every class session. A student who misses class earns 1.5 cuts. A student
who comes after attendance has been checked is considered late and earns half a cut only if he informs the
teacher at the end of the class; otherwise, he is still marked absent and therefore earns 1.5 cuts. Since Economics
112 is a three-unit course, a student is free to use up to 9 cuts. A student who exceeds the number of allowable
cuts gets a grade of W for the course. Dean’s Listers are not entitled to exceed the number of allowable cuts.

A student who misses a quiz or an exam gets a grade of 0.00 for that exam. To avoid this, a student who expects
to skip class on the day of an announced quiz or exam must inform me before the class begins to arrange for
other options. This does not apply to students who miss unannounced quizzes.

Students are advised to bring size 4 sheets of paper for unannounced quizzes.

Expected behavior in class is guided by respect for each other as colleagues. Respect is defined as allowing the
teacher and other students to make the most out of the class. Any violation of this will merit corresponding
deductions from the student’s quizzes and exams. Similarly, a student who makes substantial contributions to
class earns additional points. Interpretation of this is left to the teacher.

Consultation Information
Wednesdays and Fridays, 1000-1030 and 1200-1330, by appointment.
I can also be contacted thru email at druiz@ateneo.edu. Social networks and instant messaging are acceptable
platforms for asking questions. Text messaging is acceptable only for emergency cases and only on weekdays.