Syllabus

Intermediate Macroeconomics
W&M ECON 304, Fall 2025
Room: Chancellors 123
Sections:

• 03: MWF 9:00-9:50am

• 04: MWF 10:00-10:50am

Contact Info¶

Professor Throckmorton
E-mail: nat@wm.edu
Office Hours:

• Wednesday 2:00-3:30pm (Chancellors 433)

• Thursday 2:00-3:30pm (Remote)

• Appointment (please request at least one day in advance)

Summary¶

In this course you will learn to apply macroeconomic theory, building on your introductory economic knowledge. You will learn analytical tools and formal models to explain changes in GDP, inflation, unemployment, wages, and interest rates. Those skills will help you understand current events, forecast macroeconomic variables, and assess the impact of government policies. The coures objectives are to

• find, summarize, and analyze macroeconomic data.

• use, solve, and explain intermediate level macroeconomic models.

• improve economic literacy by applying macroeconomic models to policy.

• effectively communicate macroeconomic concepts and relationships.

Prerequisites¶

ECON 102 (Principles of Macroeconomics). You should be familiar with the concepts of supply and demand, the basics of monetary and fiscal policy, and have some experience using equations, graphs, and tables to analyze economic situations. Solving systems of linear equations and taking good notes are also important skills. Consistent study habits coupled with an eagerness to learn and ask questions will help to achieve the learning objectives.

Resources¶

• Book: Olivier Blanchard. Macroeconomics 9th Edition. Pearson, 2024.

  • Rental and Paperback, ISBN-13: 9780138119010 (available on VitalSource)

  • eTextbook on Person+, ISBN-13: 9780135343340

• Website: https://nathrock.github.io/intermediate-macro

• Data: https://fred.stlouisfed.org/

• Forum: https://piazza.com/wm/fall2025/econ304

Grades¶

Assignments¶

There are four parts to this class. In each part, there is a data assignment and a problem set. Data assignments will ask you to find, summarize, and analyze important macroeconomic data. Problem sets will be like the exams and consist of multiple choice and free-response questions.

You may work in groups of 3 people or less. Please turn in one set of answers per group. I will not assign groups nor will I police them; you may change groups or work by yourself. All assignments will be submitted to Gradescope.

Exams¶

There are four exams. If you miss an exam, the weight will shift to the next exam, and you must take the Exam 4 (i.e., the final exam). Exam 4 is not comprehensive and will have a similar amount of content as Exams 1-3.

• Exam 1: Friday, Sep 19

• Exam 2: Friday, Oct 17

• Exam 3: Friday, Nov 7

• Exam 4 (Final Exam):

  • Section 03: Tuesday, Dec 16, 9:00-10:15am

  • Section 04: Monday, Dec 8, 2:00-3:15pm

Please note that anything discussed in class or any topic in the assigned reading from the textbook is “fair game” for the exams. There may be material presented in class that is not in your textbook, so make sure that you have a full set of notes. The exam questions will test your ability to understand and recall basic principles. They will also test your understanding of applications of theories, tools, and models. The exam rules are

• No programmable calculators, laptops, or tablets.

• No notes or books.

• No hats. Keep eyes on own exam.

• No talking other than asking me questions.

• Phones/tablets/all electronics must be turned off or silenced.

• Seating is randomized.

Class Engagement (extra credit)¶

There are two ways to engage in this class, either as a group or individually. Group engagement will involve finding, summarizing, and discussing articles on current macroeconomic events. As individuals, I expect you to engage on 3 different occasions, either in class, in office hours, or on Piazza. I will provide a separate document for more details on earning credit for engagement.

Final Grade¶

There are 1,000 total points available in this class. Please note that it is possible to miss the next highest grade by only a few points. This may happen, so be aware of this possibility. If you want to appeal any grading, you must contact me no later than one week from the date I post your score. The following table indicate the minimum number of points needed to guarantee a certain grade.

Important Dates¶

Attendance¶

I expect you to attend all classes and take all exams. If you are unable to attend class or take an exam, please let me know as soon as you can. (You do not need to explain why unless you want to.) If you are unable to attend class, I will send a zoom link shortly before class and you may attend remotely if you are able. I will not record lectures. In some cases, I will upload slides or take pictures of anything I write on the whiteboard. In other cases, you will need to obtain notes from a classmate. If I am unable to attend, I will teach remotely via zoom. If I am unable to teach remotely, I will try to find a substitute teacher, otherwise class may be cancelled. I scheduled three review days during the semester for flexibility. If you cannot take an exam, then I will increase the weight of the next exam to make up for it (see Exams).

Student Accessibility Services¶

William & Mary accommodates students with disabilities in accordance with federal laws and university policy. Any student who feels they may need an accommodation based on the impact of a learning, psychiatric, physical, or chronic health diagnosis should contact Student Accessibility Services staff at 757-221-2512 or at sas@wm.edu to determine if accommodations are warranted and to obtain an official letter of accommodation. For more information, please see www.wm.edu/sas.

Honor Code¶

I expect everyone to follow the Honor Code. Please see your student handbook for details. “As a member of the William and Mary community, I pledge on my honor not to lie, cheat, or steal, either in my academic or personal life. I understand that such acts violate the Honor Code and undermine the community of trust, of which we are all stewards.” Financial and economic crises are precipitated by breeches of trust, so you must understand this is not only very important to me but also to our entire society. I will not hesitate to punish violators of the Honor Code.

Artificial Intelligence¶

GenAI tools can be used in this course, but only for specific tasks and with the instructor’s permission. Generally, you may utilize GenAI as an editor, translator, idea generator, data visualization tool, or tutor. For instance, GenAI might be permitted for brainstorming, troubleshooting, or editing, but not for drafting entire solutions or answers to questions on assignments.

On problem sets, I expect that you will complete all assignments without the assistance of GenAI unless otherwise specified in the assignment. The questions on problem sets are intended as practice for the exams, where GenAI is not available. If you were to use GenAI on the problem sets, then you would be underprepared for the exams.

On data assignments, GenAI (e.g., ChatGPT and Microsoft Copilot) is a useful assistant for troubleshooting errors in programs or getting started on a program in an unfamiliar language. It is OK to use GenAI for those purposes. It is also OK to use GenAI to brainstorm ideas on how to interpret the output (e.g., numbers and figures) of a program. However, you should not use GenAI to write your entire program or write entire summaries and interpretations of your program’s outputs.

Mental and Physical Well-Being¶

I recognize that students juggle different responsibilities and can face challenges that make learning difficult. There are many resources available at W&M to help you navigate emotional/psychological, physical/medical, material/accessibility concerns, including

• The W&M Counseling Center, 757-221-3620 (services are free and confidential)

• The W&M Health Center, 757-221-4386

• To seek assistance for interpersonal, academic, and wellness challenges, please contact Care Support Services at wm.edu/care (care@wm.edu).

• For additional resources, visit https://www.wm.edu/offices/wellness/resources/.

Guidelines for Religious Accommodations¶

https://www.wm.edu/offices/ce/policies/audit-risk-and-compliance/religious-accommodations.php

Inclusive Academic Community¶

William & Mary is a community that fosters free expression of ideas. We work to create an educational environment that draws on diverse backgrounds and perspectives. Creating this kind of learning environment requires deliberation, and is a responsibility shared by faculty and students alike. One of our responsibilities is a shared commitment to treat all participants in this course with respect. Our conversations may at times be challenging and difficult: we are here to learn, and learning is not always comfortable. I welcome your authentic feedback as we engage with the ideas represented here. If you have any concerns or questions, please feel free to approach me; or if you prefer, you can report concerns at https://www.wm.edu/report/student/.