Professor Andres Dona angelo
Office GSB 6.308
M 1:30pm - 3:00pm
Course Webb Page Blackboard
Time and Location
00am - 9:30
0am, GSB B 3.106 (MBBA Cohort IV)
00am - 11:330am, GSBB 3.106 (MBBA Cohort III)
00am - 9:30
0am, GSB B 3.106 (MBBA Cohort I)
00am- 11:300am, GSB B 3.106 (MBBA Cohort II)
00pm - 6:30
0pm, CBA A 4.328 (MSSF)
TAs Chao Bian (firstname.lastname@example.org)
ophia Sun (Yue.Sun@p
TA Office Hours
H W 1:00
0pm -- 3:00 pm, CBA A 6.224
The first half of Manag gerial Econ nomics is designed t to providee students with a
framework to understand the macroec
f conomic e environmen nt. We w will cover classic
macroecono omic issuess such as economic growth, b business cycles, unem mployment, money,
s, and fisca
al and mon netary policy. At the e end of the course, we will use
the framew work to understand current
c macroeconomi ic developmments. For r instance, we will
analyze the rapid grow wth of publ lic deficits in
i the U.S. and the `` `liquidity trap'' that hhas been
forcing the Fed to use more exoti ic monetary y policy too
ols such as q
The ultimate goal
g of thee course is to develop p your ma acroeconomic intuition n. This
w enable you to ma ake sense anda naviga
ate through h future unnforeseen e economic
developmen nts. To ac chieve thiss goal, ou ur course will includ de a fair amount o of basic
macroecono omic theoryy. This cour rse will be more challe enging thann a less am
mbitious cou urse that
merely surv veys past evvents. The take home e value of a course th hat does noot provide i intuition
through the eory depreciiates and becomes obs solete very q
quickly. Thhe challengee of learning theory
should be se een as a pro
vestment in your huma an capital.
Prof. Andres Donangelo BA380S (Macro)--Fall 2013 page 2
Leadership and this Course
The macroeconomic toolkit developed in this class will allow business leaders to better
understand the economic environment. In the short run, a business leader must know how to
react to changes in demand and investment opportunities arising from changes in expectations
about prices, wages, interest rates, and exchange rates. A leader must also be able to make
decisions that require an understanding of the drivers of long term growth across different
economies. Moreover, a business leader must also understand the language and terminology
used in economics. The toolkit developed in this class will also enable future business leaders to
better communicate with economic journalists, policy makers, and regulators.
The required readings assigned to each lecture are indicated in the schedule at the end of this
Syllabus. The two main course materials are listed below:
1) 8th edition of Macroeconomics, by Andrew Abel, Ben Bernanke, and Dean
7th edition is acceptable, but 6th and earlier editions are too outdated.
2) Short-Run Fluctuations, by David Romer (DR)
We will use Romer's alternative approach to studying monetary policy instead of
the LM curve from ABC
Available for free at http://elsa.berkeley.edu/~dromer/ (under "Papers Not
Intended for Publication")
Discussion Board and E-Mail Policy
We will use a discussion forum for our communication outside the classroom. The
discussion board is available on BlackBoard. My TAs and I will join the forum and be
active participants and moderators. All questions and comments related to the course
should be posted on the discussion board. Students are also encouraged to answer questions
from other students when they feel comfortable doing so. The discussion forum is a more
efficient and transparent communication channel than one-on-one e-mail exchanges. For
this reason, my TAs and I will only answer e-mails regarding personal matters. All other e-
mails will be kindly redirected to the discussion forum.
Prof. Andres Donangelo BA380S (Macro)--Fall 2013 page 3
Course Requirements and Grading
(i) Problem Sets (50%)
There will be a total of 6 problems sets in the course, but only the 5 highest scores will
be considered towards your grade. Problem sets will be posted on BlackBoard on Thursday
evenings and will be due the following Thursday evening. Students can form groups (I
recommend up to four members, but I will accept larger preexisting groups). Students may
join, leave, or change groups at any time. Each group should submit a single set of answers.
Answers may be typed or hand written, but should be converted into an electronic file in
PDF format and uploaded through BlackBoard.
(ii) Exam (50%)
There will be a single exam in this course. The exam will be conducted during the final
exam week. The final exam is cumulative and covers all material discussed in class. The
exam is closed-book but students may bring a double-sided letter-sized "cheat sheet". A
practice exam will be distributed during the last week of classes. To get a top grade in the
exam, make sure to:
1) Be comfortable to answer logical variations of problem set questions.
2) Be able to explain all the examples given in the lecture slides to a colleague, using your
You will get a numeric score at the end of the Macroeconomics half of Managerial
Economics that will be averaged with that of the Microeconomics half. The overall course
average across the two halves will determine your letter grade.
Prof. Andres Donangelo BA380S (Macro)--Fall 2013 page 4
Classroom and Discussion Board Professionalism
Faculty are expected to be professional and prepared to deliver value for each and every
class session. Students are expected to be professional in all respects.
The Texas MBA classroom experience is enhanced when:
Students arrive on time.
Students display their name cards.
Students do not confuse the classroom for the cafeteria.
Students minimize unscheduled personal breaks.
Students are fully prepared for each class.
Students attend the class section to which they are registered.
Students respect the views and opinions of their colleagues.
Laptops are closed and put away.
Phones and wireless devices are turned off.
The level of professionalism expected in the discussion forum is similar to that in the
classroom. In particular, faculty, TAs, and students should follow the following etiquette
Forum participants should first search older posts before posting a new topic or
Forum participants should use clear titles for the postings to help other participants
easily find the topic.
Forum participants should write in a clear, objective, and respectful manner.
Forum participants are expected to be active in a give and take manner.
I have no tolerance for acts of academic dishonesty. Such acts damage the reputation of
the school and the degree and demean the honest efforts of the majority of students. The
minimum penalty for an act of academic dishonesty will be a zero for that assignment or
The responsibilities for both students and faculty with regard to the Honor System are
described on http://mba.mccombs.utexas.edu/students/academics/honor/index.asp. As the
instructor for this course, I agree to observe all the faculty responsibilities described therein.
During Orientation, you signed the Honor Code Pledge. In doing so, you agreed to observe
Prof. Andres Donangelo BA380S (Macro)--Fall 2013 page 5
all of the student responsibilities of the Honor Code.
The Honor Pledge
The University of Texas at Austin McCombs School of Business requires each enrolled
student to adopt the Honor Pledge:
"I affirm that I belong to the honorable community of The University of Texas at Austin
Graduate School of Business. I will not lie, cheat or steal, nor will I tolerate those who do. I
pledge my full support to the Honor System. I agree to be bound at all times by the Honor
System and understand that any violation may result in my dismissal from the Graduate
School of Business."
Students with Disabilities
Upon request, the University of Texas at Austin provides appropriate academic
accommodations for qualified students with disabilities. Services for Students with Disabilities
(SSD) is housed in the Office of the Dean of Students, located on the fourth floor of the
Student Services Building. Information on how to register, downloadable forms, including
guidelines for documentation, accommodation request letters, and releases of information are
available online at the web address below. Please do not hesitate to contact SSD at (512) 471-
6259, VP: (512) 232-2937 or via e-mail if you have any questions.
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