ECON 2301

Principles of Macroeconomics

Dr. Ann L. de Rouffignac

Adjunct Associate Professor

 

 

Spring  2012   1/17/2012 – 5/13/2012

Tuesday-Thursday 7:30AM – 8:50AM

Econ 2301 Section 010

McNeil High School   room 11 b

 

 

Office Hours before and after class or by appointment.

Office Phone:  512 223 1790  ext  26741 

Email address: ann.derouffignac@austincc.edu

 

Required Text:  Michael Parkin, Macroeconomics, 10th or 9th edition.  Plus access code to My EconLab for the homework assignments.  (see page 4 or  last page of this syllabus which explains how to register and enter MyEconLab)

 

 

Course Outline-

 

Section 1:  Introduction to Economics

 

Chpt. 1:  What is Economics?

Chpt. 2:  The Economic Problem

Chpt. 3:  Demand and Supply

 

Exam I

 

Section 2:  Measuring the Macroeconomy

 

Chapt. 4:  Measuring GDP

Chapt. 5:  Monitoring Jobs and Inflation

 

Exam II

 

Section 3:  AD/AS  Model

 

Chapt. 10  Aggregate Supply/Aggregate Demand

Chapt  12  US Inflation, Unemployment and Business Cycle

 

Exam III

 

Section 4:  The Basic Keynesian Model

 

Chapt. 11   Expenditure Multipliers:  The Keynesian Model

Chapt. 13   Fiscal Policy

 

Exam IV

 

 

 

Section 5a:   Money and Banking

 

Chapt. 8       Money, Price Level and Inflation

Chapt. 14     Monetary Policy

 

Section 5b:  International Trade and the Balance of Payments

 

Chapt. 9     Exchange Rate and the Balance of Payments

Chapt. 15   International Trade Policy

 

Exam  V   Final

 

Instructional Methodology:

Lecture/Handouts/ Class discussion.  Material from The Financial Times newspaper and The Economist magazine will be used as a basis for discussion and/or to highlight concepts presented in class.

 

Pace of Course:

 

Every effort will be made to cover all topics listed in the outline.  But the instructor reserves the right to omit some material should time become an issue.  Students will be given at least one week’s notice before exams. Homework will be assigned one week in advance and coordinated with the required reading of the text. Homework assignments from 10 chapters will be included in your final grade.   Each chapter homework assignment is due the last day of class discussion regarding the relevant chapter.  Exam V is slated for the last day of class or May 10.

 

Grading System-

 

There are five exams including a mandatory final. Each exam counts 20% of your final grade.

One exam (not the final) will be dropped from your final class average.  Mandatory homework (ten chapter assignments out of a total of 13 ) counts the same as one exam or 20%.  Since I drop your lowest exam grade, no makeup exams are given except with a verifiable written medical excuse from a doctor.  NOTE:  The fifth exam and the homework are required. You do not have the option of dropping those grades.

 

 

Grading Scale-

 

A  90 or better

B  80 –89

C  65—79

D  50—64

F   less than 50

 

Course Policies-

 

This is a college class for 3 hours college credit.  Students are expected to be punctual, attend class, take notes and participate on one’s own volition. No electronic devices of any kind are permitted.  Students who get hopelessly behind are expected to withdraw in a timely fashion.  Absolute last date for withdrawal is April 23. Be aware that the number of total withdrawals for your entire state college experience is limited due to a new Texas state requirement governing withdrawals. Exams will be based on the text and lecture material. The exams will be objective except for one short essay section.

 

 

 

The following is required to be in the syllabus by the Economics Department:

 

Course Description-

Principles of Macroeconomics deals with consumers as a whole, producers as a whole, the effects of government spending and taxation policies and the effects of the monetary policy carried out by the Federal Reserve Bank. Macroeconomics is concerned with unemployment, inflation, and the business cycle.

 

 

Scholastic dishonesty: Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, and unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework.

 

Students with disabilities: Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to do this three weeks before the start of the semester.

 

 

Course Rationale-

This course is meant to give students insight into the dynamics of our national economy. The knowledge gained in the course will make students better informed citizens and allow them to follow the debates over national economic policy reported in the news media. This course is also a foundation course that will prepare students to be successful in upper division finance, marketing, business administration, economics, government, and social work courses.

 

 

Course Objectives as established by the Economics Department-

 

Students who complete this course will be able to understand:

-the meaning of unemployment and inflation data and how that data is collected and computed;

-the meaning and components of the National Income Accounts, especially GDP;

-the meaning of the business cycle and its phases;

-and to manipulate the basic Aggregate Supply, Aggregate Demand model of the macro economy;

-how fiscal policy operates, its tools, and its advantages and drawbacks;

-how a fractional reserve banking system works;

-how monetary policy operates, its tools, and its advantages and drawbacks.