Principles of Macroeconomics

University of Toronto St. George

An introduction to economic analysis and its applications from a macroeconomic (economy-wide) perspective. Topics covered include international trade and finance, role of money and the banking system, monetary and fiscal policy. Note: graphical and quantitative analysis are used extensively.
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Ho Cheung (Michael) Ho

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ECO102H1 Lecture Notes - Winter 2019, Lecture 6 - Parsec

Derivation of the Multiplier (close economy) Variables Y= GDP Yd= disposable income C= consumer spending G= government spending T= taxes individuals pay TR= transfer government gives to individuals I = investment Sp= priva...

Ho Cheung (Michael) Ho
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Ho Cheung (Michael) Ho

ECO102H1 Syllabus for Ho Cheung (Michael) Ho — Winter 2019

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ECO𝟏𝟎𝟐H𝟏S Principles of Macroeconomics
LEC𝟐𝟓𝟎𝟏 & LEC𝟓𝟏𝟎𝟏
𝟐𝟎𝟏𝟗 Winter
Instructor Contact Information:
Name: Michael Ho
Office hours: Day, Time, & Location To Be Announced
Lectures &
Tutorials & Tests: Monday 6 9 pm in MC 102
Course website: Quercus
Course Description:
An introduction to economic analysis and its applications from a macroeconomic (economy-wide)
perspective. Topics covered include international trade and finance, role of money and the banking
system, monetary and fiscal policy.
NOTE: Extensive use of graphical and quantitative analysis.
Prerequisite & Exclusions:
Prerequisite: ECO101H1. Exclusion: ECO100Y1, ECO105Y1
Required Course Package:
Macroeconomics (Third Canadian Edition) by P. Krugman, R. Wells, I. Au, and J. Parkinson. Worth
(2018) and SaplingPlus.
Course Materials:
Course outline and past test/exam (questions only) will be posted on Quercus.
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Evaluation and Grading:
Sapling Online Quizzes 15%
Test 1 February 4 20%
Test 2 March 11 25%
Final Examination (April Examination Period) 40%
Tests are non-cumulative and scheduled with a duration of 60 minutes. Final Examination is cumulative
and will be held during the April examination period with a duration of 2 hours.
Re-reads of tests will be granted if the test is written in pen and the request submitted to me within one
week after a test has been returned as students need to know their relative position as early as possible
before the last day to drop S courses without academic penalty and have them removed from the transcript
(March 17). In addition to this, you must include in writing and with specificity, your question or concern
with the grading. Please be advised that re-read and re-mark may result in upward or downward revision.
Addition errors will, of course, be corrected on the spot.
Policy on Missed Test:
Students missing a test will automatically receive a zero unless with legitimate reason as stipulated in the
Faculty of Arts & Science Calendar and valid supporting document submitted within seven calendar days
of the missed test, then they must write the Comprehensive Makeup Test scheduled in late March (date,
time, and venue to be announced). Students are allowed to miss only one test, a zero will be assigned to
the second missed test regardless of reasons.
This course is constructed around the textbook (Third Canadian Edition) and the responsibility of the
instructor is to specify the best source of information for the students to prepare for this course. It is totally
up to the students to decide whether they would want to buy the required course package or just the
SaplingPlus alone. This is a demanding course and there is a considerable amount of preliminary reading
that should be done before each lecture. It would be difficult to do well if one falls behind in covering the
required reading materials. Hence, students are expected to (i) read the relevant chapter(s) in the textbook
before each lecture in order to follow the lecture discussion; and (ii) attend every lecture and tutorial
because a significant portion of each test and the Final Examination will be comprised of lecture and
tutorial discussion.
Communication in email must be done through 𝐔𝐓𝐎𝐑 email account for record-keeping and
identification purposes as required by the University. Please put ECO𝟏𝟎𝟐” in the message title as this
will help draw my attention to your email. Questions in any email should not require more than two
sentences to answer. For any question that involves more than two sentences to answer, or requires
equation or graph, should be discussed in person either in class with me or office hours with our TAs.
Since there are limits to how much time can be devoted to answering email, questions already covered in
the syllabus or announcements (in class or on Quercus) will not get response. Students should not take
email as a means to receive private tutorials or review material that was covered in lecture or tutorial that
they missed.
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Academic Misconduct:
Students should note that copying, plagiarizing, or other forms of academic misconduct (cheating in any
test or examination) will not be tolerated. Any student caught engaging in such activities will be subject
to academic discipline ranging from a mark of zero on the assignment, test or examination to dismissal
from the University as outlined in the Faculty of Arts & Science Calendar. Any student abetting or
otherwise assisting in such misconduct will also be subject to academic penalties.
1. The Big Picture
Chapter 6
2. Tracking the Macroeconomy
Chapter 7
3. Other Common Macroeconomic Indicators
Chapter 8
4. Economic Growth
Chapter 9
5. Factors Driving Growth
Chapter 10
6. Basic Macroeconomic Relationships & Macroeconomic Equilibrium
Chapters 11 & 12
7. Fiscal Policy
Chapter 13
8. Money and Banking
Chapter 14
9. Monetary Policy
Chapter 15
10. Aggregate Price Level Movements
Chapter 16
11. Macroeconomic Crises
Chapter 17
Course Schedule (Tentative):
𝟔 𝟕 pm
𝟕 𝟗 pm
January 7
Lecture: Chapters 6 & 7
January 14
Tutorial: Chapters 6 & 7
Lecture: Chapter 8
January 21
Tutorial: Chapter 8
Lecture: Chapter 9
January 28
Tutorial: Chapter 9
Lecture: Chapter 10
February 4
Test 1
Lecture: Chapter 11
February 11
Tutorial: Chapter 10
Lecture: Chapter 12
February 18
Family Day / Study Break
February 25
Tutorial: Chapter 11
Lecture: Chapter 13
March 4
Tutorial: Chapter 12
Lecture: Chapter 14
March 11
Test 2
Lecture: Chapter 15
March 18
Tutorial: Chapter 13
Lecture: Chapter 16
March 25
Tutorial: Chapter 14
Lecture: Chapter 17
April 1
Tutorial: Chapters 15 17

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