Department of Economics
ECO209Y5Y, 2014/2015, Section 1
Instructor: Brian Tavares
Teaching Assistant: Junyo Kim
Office hours: Fri 9:00 – 11:00, KN 3266
Office hours: TBA
Class: Tue 09:10 – 11:00, CC1140
Tutorial 1: Tue 13.10 – 14.00, DV3131
Tutorial 2: Tue 15.10 – 16.00, IB280
Tutorial 3: Tue 16.10 – 17.00, CC1080
Macroeconomics is the study of the aggregate economy. Its concerns are therefore phenomena such as the differing level of development in the world, the existence of unemployment, the causes and possible solutions to fluctuations in the level of output (recessions and booms), the effects of opening trade with the rest of the world , among many others. This course presents models that attempt to answer these questions. The ways in which these models relate to the real world are of primary importance. The goal of the course is therefore to not only attempt to answer the previous questions, but to introduce students to the methodology of using models to answer questions.
Prerequisite: ECO100Y5 (67%), or ECO100Y5 (63%) and a CGPA of 2.5.
Prerequisites are strictly checked and enforced and must be completed before taking a course. By taking this course you acknowledge that you will be removed from the course at any time if you do not meet all requirements set by the Department of Economics. For further information you can consult the 2014-2015 Academic Course Calendar which is available from the Registrars Office or online at https://registrar.utm.utoronto.ca/student/calendar/calendar.pl.
The course textbook is Stephen D. Williamson, Macroeconomics, 4th Canadian edition, Pearson Education Canada, 2013. This textbook is required.
There is a Blackboard page for this course, where I will post announcements and course materials. Make sure you check the course webpage regularly. Note that this is not a substitute for attending class: there may be occasions where announcements will be made in class and will not be posted on the webpage.
Your grade in this course will be determined as follows:
Term Test 1 (Friday, October 17, 13:10 – 14:00, CC 1080): 13%
Term Test 2 (Friday, November 21, 13:10 – 14:00, CC 1080): 13%
Term Test 3 (Friday, February 6, 13:10 – 14:00, CC 1080): 13%
Term Test 4 (Friday, March 20, 13:10 – 14:00, CC 1080): 13%
Final Exam: 48%
There will also be a number of homework assignments. For each one of them, there will be a tutorial session where a solution will be provided. The assignments will not be graded. You are, however, strongly encouraged to spend a lot of effort on these assignments as they will help you considerably (i) in understanding better the concepts taught in class, and (ii) in performing better on the exam.
If you miss a test because of illness, the weight of your final exam can be adjusted to compensate for the missing mark. For this to happen, you need to strictly follow the following procedure:
You send me an e-mail on the day of the test declaring that you are ill and cannot make the test.
You visit a qualified medical doctor or nurse practitioner on the day of the test and have him/her fill out the form available at http://www.illnessverification.utoronto.ca/. Other forms are no longer accepted. The doctor should provide his/her OHIP registration number and confirm that you were unable to make the test. See the FAQ at that website for further details.
You submit the original medical note at most 1 week (7 days) after the date of the test. You can either give it to me during class or office hours, or you can place it in the course mailbox at the secretarial office, after asking the departmental secretary for a date stamp.
I will confirm that you satisfy these conditions by a reply to your e-mail. If you do not follow this procedure, the zero