Course Code: ECN 212

Course Title: Principles of Macroeconomics

Semester Fall 2021
Section and Campus Section C main campus
Number of NDU Credits: 3 credits
Pre-Requisite(s) None

Dr. Ribal Rizk

Assistant Professor of Economics
Faculty of Business Administration & Economics
Department of Economics
Office hours: M till F from 8:00 – 2:00
Office number: FBAE 1.18
Class time, section, and Room number: sec C main campus T-Th 16:30-18:00
Email: [email protected]
Telephone Number: 09-208319

Course Description
The Principles of Macroeconomics course introduces students to concepts and issues in economic analysis
on a nationwide basis. It discusses the impact of major economic shocks like the Great Depression, the
modern practices and their impacts on the country standards of living. Moreover, it highlights the economic
and social consequences of unemployment and inflation. Accordingly, it analyzes and interprets the
appropriate fiscal and monetary policies that should be applied by the government and the central bank in
order to solve such problems. The passing grade for this course for Economics students only is “C.” Other
students should check with their Department’s administration concerning their passing grade

Course Learning Objectives

After completing this module, students should be able to:
1. Understand national income accounting like GDP, GNP and National Income.
2. Understand all details of inflation and unemployment.
3. Calculate the Keynesian multipliers in a closed/open economy (government spending, taxes, etc...).
4. Analyze the macroeconomic equilibrium.
5. Interpret the role of taxes and the government budget, and accordingly fiscal policy.
6. Explain how the banking system operates, how the central bank controls money supply, and
accordingly the role of monetary policy.
7. Illustrate graphically macroeconomic functions, as well as the macroeconomic equilibrium.

Program Learning Goals and Objectives

The following program learning goals and objectives (BS in Economics) are addressed in this course:
LG1. Economic Knowledge: Our graduates will have a comprehensive knowledge in economics.
Objective 1.1 Students should be able to understand microeconomic and macroeconomic concepts, and
their applications.

LG3. Quantitative Skills: Our graduates will employ quantitative analysis.

Objective 3.1 Students should be able to solve mathematically and graphically economic/econometric
problems and interpret them.

The following program learning goals and objectives (BBA) are addressed in this course:
LG1. Business Knowledge: Our Graduates will have comprehensive disciplines knowledge in
business.

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Objective 1.1 Students should be able to demonstrate the understanding of core business knowledge in
accounting, economics, finance, management and marketing.
BS in Economics BBA
☒PLO 1.1: Economic Knowledge ☒PLO 1.1: Business Knowledge
☐PLO 2.1: Critical Thinking ☐PLO 2.1: Critical Thinking
☒PLO 3.1: Quantitative Skills-Solving Problems ☐PLO 3.1: Written Communication
☐PLO 3.2: Quantitative Skills- Using Statistical Packages ☐PLO 3.2: Oral Communication
☐PLO 4.1: Written Communication ☐PLO 4.1: Ethics
☐PLO 4.2: Oral Communication ☐PLO 4.2: Social Implications
☐PLO 5.1: Teamwork

Course learning materials

E-book

Karl E. Case, Ray C. Fair, and Sharon M. Oster, "Principles of Economics", Pearson Global Edition, 13 th
edition
.

Supplementary Readings
- McConnel, Brue, and Flynn, 2018, "Economics, principles, problems and policies", McGraw
Hill, 21st or 22nd edition
- Study Guide: "Principles of Macroeconomics", Case, Fair and Oster.
- Paul Samuelson and William Nordhouse, 2008, "Economics", 19th Ed. McGraw-Hill-Irwin.

Library Support
NDU Library is open to students to help you in all your research and class work. Qualified personnel are
available to help you.

Writing Center
The Writing Center provides assistance to all students who wish to discuss their writing with a trained
consultant. The Center is located in HA 114. An appointment is required.

Blackboard (bb) Software

If you are not familiar with the Blackboard system, it is recommended to attend a training session at the
University Computer Services in order to know how to use the Blackboard system to enrich the academic
communication with your instructor and your colleagues.

Learning strategies and contents of the course

Sessions encompass lectures, discussions and problem solving. Students are evaluated via exams, quizzes
and/or excel-based activities. All the course material (e-book, power point presentations, and supplementary
material) is available on blackboard. Additional material is available on the “Connect” platform. A personal
access code is required in order to access “Connect”. You can purchase the access code either online or from
Librairie Antoine.
Attending the lectures, reading the material in the e-book and solving exercises are necessary and mandatory.

Duration: one semester.

The course consists of several topics given over 45 hours of face-to-face lectures/case studies/problem
solving/review sessions and 3 hours of midterm exams.

The learning hours are subdivided as follows:

Contact hours (including phase tests assessment) 48

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Directed readings, preparation 14
Self-Study 68
Total 130

The outline provides a general plan for this course; however, I reserve the right to make additions and
changes during the semester as I see necessary.

TOPICS Chapter
1- MEASURING NATIONAL OUTPUT AND NATIONAL
Chapter 21
INCOME
2- UNEMPLOYMENT, INFLATION AND LONG-RUN
Chapter 22
GROWTH
3- AGGREGATE EXPENDITURE AND EQUILIBRIUM
Chapter 23
OUTPUT
4- THE GOVERNMENT AND FISCAL POLICY Chapter 24
5- MONEY, THE FEDERAL RESEVE AND THE INTEREST
Chapter 25
RATE
6- THE DETERMINATION OF AGGREGATE OUTPUT,
Chapter 26
THE PRICE LEVEL AND THE INTEREST RATE
7- POLICY EFFECTS AND COST SHOCKS IN THE AS/AD
Chapter 27
MODEL

Homework Assignments and Study Management

To get the most out of the course students are expected to:
1. Familiarize themselves with assigned readings prior to the lectures. A good strategy would be to
skim for a general grasp of the issues before the lecture, and then do focused study afterwards. It is
essential not to get behind, since the new topics are built on past material.
2. Solve all the problems at the end of each chapter and the additional exercises posted on blackboard
by the instructor.
3. Review class notes on a routine base.
4. Consistently monitor your own progress and make sure your questions are answered in the lectures.
5. Participate in class discussions, ask questions and make constructive comments during lectures.

Assessment criteria and grading scheme

The assessment will call upon students to demonstrate:
 Thorough understanding of the acquired knowledge.
 Critical thinking and complex problem solving ability.

Assessments include the following:

- Exam 1, typically after completing topics 1 to 4.
- Exam 2 typically covering topics 5 to 7.
The cumulative weighting for these exams will be 70% (the higher accounts for 40% and the lower for
30%).

- Activities/quizzes (30% weight):

- TWO quizzes with a total of 30% with 15% each.

Quizzes and, EXAMS IN CAMPUS

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 Grad Description Quality Point Value Percentage Equivalent
e
A+ Outstanding 4.00 97-100
A Excellent 4.00 93 - 96
A- Very Good 3.70 89 - 92
B +
Good 3.30 85 - 88
B Good 3.00 80 - 84
B- Good 2.70 77 - 79
C +
Satisfactory 2.30 73 - 76
C Satisfactory 2.00 70 - 72
C- Passing 1.70 66 - 69
D +
Passing 1.30 63 - 65
D Lowest Passing 1.00 60 - 62
F Failure 0.00 00 – 59
UW Unofficial 0.00
- The grade
Withdrawal “UW” is
assigned by
the instructor when a registered student has never attended a class or has ceased attending and has
not submitted an official course withdrawal request to the Office of the Registrar. This grade is
computed as an F grade in the grade-point average.
- Make-up tests will not be administered for missed exams irrespective of the circumstances.

PS. The instructor reserves the right to change the frequency and dates of phase tests subject to adequate
notice period being given.

Incomplete policy
Incompletes are not given under any circumstances unless students submit all course work required and are
not able to take the final exam. Students who are unable to complete a minor portion of the course before
the term end date must make a request in writing justifying their incomplete work. Determining whether an
incomplete grade is possible or not, is left to me and the Chairperson’s discretion with due consideration
given to the amount of work accomplished, quality of work accomplished, reasonable expectations that the
student will successfully complete the work, and feasibility of completing the missing work before the end
of the eighth week of next term in which the student is enrolled.

Disclaimer

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This document represents my current plans for the course at the time of writing, but is subject to change
before or during the course and at my discretion as circumstances dictate. Any changes will be
communicated promptly and clearly to the students. Students absent when announcements are made are
responsible for obtaining this information as well as lecture content.

Final Note
Students should keep this syllabus accessible at all times. It should be read at least twice at the beginning of
the semester. It should be referred to when necessary. You are responsible for its content along with the
rules and regulations in the University catalog and handbook and any verbal guidelines given in class.

Office Hours
I will be connected on Skype during my online office hours. If you cannot make it during the above
mentioned office hours, please send me an email and we can arrange Skype meeting.

Corporate connections
The course draws on the role of business corporations as the investing economic units of an economy and
the major producers of the output of a country.

International dimensions
The course introduces the role of the foreign sector of an economy, by referring to imports, exports, and the
exchange rates.

Social aspects
The course emphasizes the role of the government and the central bank in controlling inflation.
The course addresses the social welfare of a society by discussing the social consequences of
unemployment and inflation.
The course highlights the present economic situation of the Lebanese economy, the reason and the cure.

Contribution of research
Students are recommended and asked to follow up the publications of the Central Bank and the Government
related to banking operations, taxing regulations, and interest rates.

Important class rules and academic misconduct

Hard work is required; while understanding that we all are busy with school, work, and family, your
decision to register for this course is an indication that you have made it a high priority. Thus, assignments
due dates are fixed and non-negotiable.

Student should attend all classes on time. Late comers are not allowed. A pattern of absences, whether
authorized or not, and even below the maximum number (specified below), may alter one's grade
substantially. No absence absolves a student from the responsibility of acting upon the material presented
during his/her absence. As per the University regulation, the maximum number of absences for classes that
meet on MWF is 6 and 4 for classes meeting on TTH (2 hrs per credit course). For class administration
purposes, students failing to attend regularly will be warned according to the following scheme:

 Missing 4 sessions (MWF) or 2 sessions (TTH)  Verbal Warning

 Missing 5 sessions (MWF) or 3 sessions (TTH)  Written Warning
 Missing above 6 sessions (MWF) or above 4 sessions (TTH)  Automatically fail the course
unless you withdraw first.

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Moreover, Notre Dame University – Louaize is committed to a policy of honesty in all its operations,
especially those pertaining to academic matters. Academic and/or disciplinary penalties for misconduct in
academic affairs are implemented according to the policies and guidelines of NDU. It is the student's
obligation to be aware of his/her responsibilities. The following are extracts of NDU’s policies regarding
academic integrity:

Students are expected and encouraged to be honest and to maintain the highest standards of academic
integrity in their academic work and assignments at the University. They shall refrain from any academic
dishonesty or misconduct including but not limited to:

 Plagiarism; that is, the presentation of someone else‘s ideas, words or artistic, scientific, or technical
work as one‘s own creation. Also, paraphrasing, summarizing, as well as well as direct quotations are
considered as plagiarism, if the original source is not properly cited.
 Cheating.
 Assisting in cheating.
 Substituting a student in the taking of an examination.
 Substituting examination booklets.
 Submitting the same work for more than one course and the like.
 Submitting papers written by others.
 Receiving or providing unauthorized help or assistance in any academic work or assignment.
 Intentional violation of program and degree requirements and regulation as established by the University.
 Dishonest reporting of computational, statistical, experimental, research, results, or the like.

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