ECON 25200: Macroeconomics


Instructor: Dr. Amlan Mitra
Online Meeting: Blackboard (August 21, 2017 – December 16, 2017) 
Office: Classroom Office Building, CLO 248
Office Hours: Mon/Wed: Noon – 1:50 P.M.; and by appointment
Telephone: (219) 989-2313
Department Contact: (219) 989-2632; Porter Hall 209, 2200 169th Street, Hammond, IN 46323-2094


Analysis of the forces affecting national income, employment, interest rates, and the price level. Emphasis is placed upon the role of government fiscal and monetary policy in achieving full employment and stable prices.

Prerequisite: ECON 251 and MATH 225.  


This is a distance learning course in introductory macroeconomics.  It introduces economics analysis of aggregate employment, income, and prices. The topics include major schools of economic thought, aggregate supply and demand; economic measures, fluctuations, and growth; money and banking; stabilization techniques; the business cycle; inflation; international trade; protectionism; and current event topics. Upon completion, students should be able to evaluate national economic components, conditions, and alternatives for achieving socioeconomic goals.


All students must register with McGraw-Hill Connect through Blackboard.  Click on “CONNECT ASSIGNMENTS” on your Course Home Page.  You may also order a hard copy of the text book online.  It is NOT required.  Registration with CONNECT will give you access to eBook, course materials, assignments, including LearnSmart (SmartBook with Learning Resources: Mobile access to study tools like key terms, math review, self quizzes, and chapter summaries. Mobile access to chapter resources such as web buttons, student PowerPoint slides, and worked problems).


Wall Street Journal: It is very important for you to try to use the materials from lectures in understanding real world phenomena.  Where do you find intelligent and very current discussions of economic issues?  An excellent source is the Wall Street Journal (WSJ).

You may also visit Economics Resources Websites on my page.


Upon completion of this course, you should be able to:

  1. Explain the basic principles of economics and how basic macroeconomic variables are measured.
  2. Examine the aggregate demand and aggregate supply framework and analyze the economic impacts of fiscal & monetary policies.
  3. Identify global and international business issues and propose appropriate solutions.
  4. Demonstrate an understanding of the impact of current events, cultural and geopolitical barriers to global and international business.
  5. Explain the links between technological change, sustainable economic growth, and well-being.
  6. Develop skills in analytical reasoning and problem solving.


Completing assigned readings, homework assignments, quizzes, and exams in CONNECT are the basic requirements to meet the five learning objectives.   Each of these five learning objectives will be assessed in the following way:

Learning Objective Assessment Tools
1, 2 Exam 1
3, 4 Exam 2
5 Quizzes 14-17
6 Course Grade


GRADING POLICY:  Regular participation, completing reading and homework assignments, quizzes, and exams on CONNECT are the basic requirements to meet learning objectives.  The student’s overall percentage score is based upon the following weights:

Quizzes: 150 points
Exam 1: 100 points
Exam 2: 100 points
Comprehensive Final: 150 points

Extra credit up to 25 points is possible to adjust grade only if a student has completed all homework and reading assignments, including practice review questions with 100% score.  You have multiple attempts with unlimited time.  You are NOT ELIGIBLE for this EXTRA CREDIT even if you miss a single assignment or fail to submit an assignment with 100% score.  NO EXCEPTIONS.  No other forms of extra credit will be available.

Grading Criteria: Plus minus grading system will be used for the course based on your overall points and any adjustment for perfect attendance or excess absences.

A+: 485 – 500;
B+: 435 – 449; B-: 400 – 414
C+: 385 – 399; C-: 350 – 364
D+: 335 – 349; D-: 300 – 314
F: Below 300



There will be reading and homework assignments every week on the assigned chapters in CONNECT.  Reading assignments include completing the practice review questions for each chapter.  Homework assignments include questions in various formats, such as, multiple choice, true-false, essay, graphing, worksheets, problems, discussion and essay questions.  Please check the “Course Schedule” section of this syllabus for chapter assignment.  It is your responsibility to check the due dates for all the assignments on CONNECT.  You are strongly encouraged to submit the assignments before the due dates.  Please DO NOT wait till the last moment to submit these assignments.  This way, you will have a chance to submit at a later time but before the due date and time if there are any online connection problems.  Reading & Homework Assignments are due by Friday midnight.  You are strongly encouraged to submit all reading and homework assignments with 100% score for extra credit.  The purpose of these reading and homework assignments is to solidify your understanding of the lecture materials and prepare you for the quizzes and exams.


There will be quizzes every week on the assigned chapters.  Questions will be in various formats, such as, multiple choice, true-false, essay, graphing, worksheets, problems, discussion and essay questions. Quizzes are due by Sunday midnight before the new chapters are assigned on the following week.  


There will be THREE EXAMS in CONNECT.  Exams will also be in similar format.  The tentative exam dates are:

EXAM 1: Due by October 8 (Sunday midnight), Chapters 6 to 12 EXAM 2: Due by November 5 (Sunday midnight), Chapters 13 to 18 COMPREHENSIVE FINAL EXAM: Due by December 11 (Monday midnight), All Chapters

Any changes in the exam dates will be communicated to you online at least a week in advance.  It is the student’s responsibility to note any changes in the due dates announced online.

MAKE-UP POLICY:  There are NO MAKE-UPS available under any circumstances.

A FINAL NOTE:  It is not difficult to do well in this course.  If you are to do well in this class, you must read the assigned chapters thoroughly, review the lecture notes with regularity throughout the semester, and timely submit all your assignments.  Please do not be deceived.  If you think that you will not be able to spend adequate time for this class, you are better off taking it later.

Honor Code
Academic Dishonesty Policy
Classroom Civility Policies
Students with Disabilities

Students who may need accommodations to address barriers caused by documented disabilities under the Americans with Disabilities Act or Section 504 of the Rehabilitation Act need to register with the Disability Access Center (DAC) to receive accommodations. To request and receive accommodations, students schedule an appointment with the DAC to initiate review and approval of supporting documentation showing their disability, the barriers it causes, and the recommended accommodations. If documentation is approved, the DAC will email a letter to the student’s current semester faculty members outlining the accommodations needed to ensure accessibility. Accommodations will be provided from the date the letter originates from the DAC. It is important to register as soon as possible as accommodations are not retroactive. The

DAC is located at the Hammond campus in the Student Union & Library Building (SUL) 341 and Westville in the Technology Building (TECH) 101. The DAC can be reached at (219) 989-2455 or emailing: DAC website.

Student Mental Health and Wellbeing

Purdue University Northwest is committed to supporting and advancing the mental health and well-being of our PNW students. During the course of their academic careers, students often experience personal challenges that contribute to barriers in learning, such as drug/alcohol problems, strained relationships, chronic worrying, persistent sadness or loss of interest in enjoyable activities, family conflict, grief and loss, domestic violence, difficulty concentrating, problems with organization, procrastination and/or lack of motivation. Students also sometimes come to college with a history of learning difficulties (e.g., any form of special education), experience difficulties succeeding in a particular subject (e.g., math, reading), or have experienced some form of trauma be it emotional or physical (e.g., head injury). These mental health concerns can lead to diminished academic performance and can interfere with daily life activities.  If you or someone you know has a history of mental health concerns or if you are unsure and would like a consultation, a variety of confidential services are available. The Counseling Center is located in Gyte 05 in Hammond and TECH 157 in Westville. You can also reach us at (219) 989-2366 or on the Counseling website. National Suicide Prevention Hotline at (800) 273-TALK or on the web..


Purdue University Northwest prohibits discrimination against any member of the University community on the basis of race, religion, color, sex, age, national origin or ancestry, genetic information, marital status, parental status, sexual orientation, gender identity and expression, disability, or status as a veteran. Any student who believes they have witnessed or experienced discrimination are encouraged to report the incident to the Office of Equity, Diversity & Inclusion in Lawshe 231, Hammond or call (219) 989-2337 or in Schwarz 25, Westville or call (219) 785-5545. Additional information can be found on the Diversity website.

Emergency Preparedness

An information sheet, with instructions for various types of possible emergencies, is posted in each room on campus. These emergencies include criminal activity, severe weather, fire, medical emergencies, and noises sounding like gunshots.  Students are strongly encouraged to review this instruction sheet carefully and acquaint themselves with these important guidelines. PNW will hold annual drills to prepare for emergencies such as severe weather, active shooter and fire. It is strongly encouraged that all students participate in these drills in an effort to strengthen our emergency preparedness efforts.


WeekDateTopicChapter Reading
18/21 – 8/27Introduction to Macroeconomic Concepts and Measurements6
28/28 – 9/3Measurements of National Output7
39/4 – 9/10Economic Growth8
49/11 – 9/17Business Cycles, Unemployment, Inflation9
59/18 – 9/24Basic Macroeconomic Relationships10
69/25 – 10/1Aggregate Expenditure Model11
710/2 – 10/8Aggregate Demand and Aggregate Supply

Exam 1 due by Sunday midnight, Oct 8

810/9 – 10/15Fiscal Policy13
910/16 – 10/22Money & Banking

How Banks Create Money

1010/23– 10/29Interest Rates & Monetary Policies16
1110/30 – 11/5Financial Economics

Extending Analysis of Aggregate Supply

Exam 2 due by Sunday midnight, Nov 5

1211/6 – 11/12Current Issues in Macro Theory & Policy


1311/13 – 11/19International Trade20
1411/20 – 11/26Exchange Rates & Balance of Payments21
1511/27 – 12/3Economics of Developing Countries22
1612/4 – 12/10REVIEW WEEK
1712/11Comprehensive Final Exam Due by Monday midnight, Dec 11