# EC290 Winter 2011

Welcome to the website for EC290 Winter 2011!

**Announcements**

**January 28, 2011**

I have posted the first required assignment on this course website today. It is due back in class on February 8. Please read the questions and instructions/notes carefully. I have provided as much information as possible in the assignment to make it very clear what I expect in your answers. If you still have any clarification question about the assignment even after reading the questions and instructions/notes carefully, please feel free to stop by during my office hours.

**February 4, 2011**

Here are two important announcements about Assignment 1:

1. In Question 1 (b), the term 'log' refers to natural logarithm. During a lecture, I discussed about a useful data transformation where we take the natural logarithm of the time series. You will also find this discussion in Chapter 1 of the 3rd edition of the textbook (pages 4 -5).

2. For Question 4 (c) and (d), you will need to use some statistical tools/ formula which I discussed in class. If you missed that class, you can get the relevant formula by downloading a document from this course website titled, " EC290 Winter 2011 Lecture Notes - Ch 3 / Statistical Tools for Calculating Business Cycle Facts".

**February 13, 2011**

Midterm exam will be held in class on Feb 17. Exam will cover Ch 1 to Ch 4, inclusive, of the textbook (3rd edition). Exam will be 1 hour and 15 minutes long. I will announce the exam format in class on next tuesday.

**February 16, 2011**

As I mentioned in yesterday's class, your midterm exam will have the following two parts:

Part A: 40 Multiple Choice Questions 40 * 1 = 40 marks

Part B: 2 multi-part problem solving/ analytical questions 30 marks

To prepare for the exam, I strongly recommend you to work out all __three__ assignments (both required and optional ones) which are posted on the website. You should study the textbook and go through the lecture slides and your class lecture notes carefully. In particular, you should make sure that you understand all of the models with a graphical explanation.

**March 17, 2011**

I have posted the 2nd required assignment (Assignment 4) on this course website today. It is due back in class on **March 24**. Please read the questions and instructions/hints/notes carefully. I have provided as much information as possible in the assignment to make it very clear what I expect in your answers. If you still have any clarification question about the assignment even after reading the questions and instructions/hints/notes carefully, please feel free to stop by during my office hours.

**March 21, 2011**

__More Hints on Assignment 4:__

Question 1 is based on the materials from Chapter 5 and Question 2 is based on the materials from Chapter 8. So, you must study these two chapters carefully to find out how to answer these two questions.

In the economy described in Question 1, the exogenous variables are *G*,* z* and *h*. In the consumer problem described in Question 2, the exogenous variables are *y, y', t, t'* and *r*.

**April 5, 2011**

I will take exam review class today for both Section A and Section B in our regular classroom (STM 125) during the scheduled class time. Section A review class is from 1:00 - 2:20 pm and Section B is from 2:30 - 4:00 pm.

**April 7, 2011**

Final exam will be held in Athletic Complex from 2:00 pm to 5:00 pm on April 25.

Exam will cover Ch 1, 2, 3, 4, 5, and 8 of Williamson (3rd Canadian edition). In addition, exam will also cover Chapter 9, 10, and 11 of Mankiw or Mankiw and Scarth (Canadian edition). Please note that four copies of Mankiw's textbook are available under 3-hour reserve at WLU main library. All of the above mentioned chapters will be more or less equally covered in the exam.

However, please note that the following materials will NOT be covered in the exam:

1. Pages 265 - 269 , inclusive, of Williamson (3rd Canadian edition).

2. Page 270 of Williamson (3rd Canadian edition). However, Figure 8.19 on page 270 is included.

3. Pages 276 - 280 , inclusive, of Williamson (3rd Canadian edition). But I highly recommend you study these pages for your knowledge. If you study these pages, you will be able to understand how we can use a macro model to explain the recent financial crisis.

4. Appendix to Chapter 11 of Mankiw or of Mankiw and Scarth (Canadian edition).

Final exam will be 3 hours long. It will have the following two parts:

__Part A__: __Forty__ Multiple Choice Questions 40 * 1 = 40 marks

__Part B:__ __Four__ out of __four__ multi-part problem solving/ analytical questions 60 marks

To prepare for the exam, I strongly recommend you to work out all of the required and optional assignments which are posted on the website. You should go through the solutions to the assignments and midterm exam. You should study the textbook and go through the lecture slides and your class lecture notes carefully. In particular, you should make sure that you understand all of the models with a graphical explanation.

**April 7, 2011**

I am holding exam-week office hours as per the following schedule:

April 11 (Monday) 3:30 to 5:30 pm

April 13 (Wedsday) 3:30 to 5:30 pm

April 15 (Friday) 3:30 to 5:30 pm

April 20 (Wedsday) 3:30 to 5:30 pm

April 22 (Friday) 3:30 to 5:30 pm

Please feel free to stop by my office (P3028) if you have any question about the final exam materials or if you have any other concern. You can also pick up your marked midterm exams and assignments during this time, if you have not already done so.

**April 24, 2011**

I reduced the number of questions in Part B from FOUR to THREE. You will have to answer THREE out of THREE questions in Part B. Total marks in Part B is 60. In Part B, the first question is worth 25 marks, the second question is worth 15 marks and the third question is worth 20 marks. In part A, you will have to answer forty multiple choice questions. Total marks in Part A is 40. You will still get 3 hours to finish your exam.

**May 5, 2011**

I have posted the marks of final exam with a detailed breakdown on this course website today. I have also posted the marks of Assignment 4. You can find your marks by looking for the last 4, 5, or 6 digits of your student ID.

Please note that I raised final exam marks for all students to increase the course average of the final exam from 50.5% to 60.5%. Last colum of the grade sheet shows your adjusted total final exam marks (out of 100) with this additional 10 marks. The course average of original course marks is 60.3%. The course average of the adjusted course marks is 65.7%.

Please go through the breakdown of your final exam marks. If you want to review your final exam, you can set up an appointment with me to do so. After reviewing the final exam, you may request for a remark if you strongly think that you deserve more marks. Please note that the following remarking policy will be applicable for the final exams.

__Remarking Policy for final exams:__

Your marks can increase, decrease, or remain unchanged because of remarking. After remarking, if the marks go up because of some minor marking errors, then your final exam mark will go up only by (10-the positive change in marks). I am applying this policy since I already added 10 marks to all students.

However, if the marks go up because of some gross marking errors (counting errors, omissions in marking, etc.) then your final exam mark will go up by the full amount of the change in marks. Please note that if the marks go down after remarking, then your final exam mark will go down by full amount of the change in marks.