PRINCIPLES OF MACROECONOMICS

ECON 2301 Section 03161

AUSTIN COMMUNITY COLLEGE

Summer 2012

Cypress Creek Campus CYP5 Room 2230

Monday & Wednesday 6:00pm - 10:00pm

INSTRUCTOR:

      Cedric Grice

      Phone: 512-809-0311 (cell)

      E-Mail: cgrice@austincc.edu   

          

      Office hours: Thursday 5:00-6:00PM    

      Conferences: By appointment                  

                 

TEXT:    

      Michael Parkin, MACROECONOMICS, 10th Edition and myeconlab software

           

 

COURSE DESCRIPTION:

 

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

 

COURSE RATIONALE:

 

This course is meant to give students insight into the dynamics of our national economy. The knowledge gained 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, economics, government, and social work courses.

 

Course Objectives:

 

 Students who complete this course will be able to understand:

 

·         The meaning of unemployment and inflation data

·         The meaning and components of Gross Domestic Product

·         The meaning of the business cycle

·         The basic aggregate demand / supply 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

 

 

 

 

INSTRUCTIONAL METHODOLOGY:

This is a lecture class with discussion of text material, text end-of-chapter questions, and review quizzes. It is essential that the student read the assigned reading material PRIOR to attending class in order to be academically prepared for the lectures, the class discussions and quizzes.

 

 

GRADE DETERMINATION:

 90-100 = A    80-89 = B    70-79 = C    60-69 = D   < 60 = F

 

Final grade will be determined as follows:

 

10%     Attendance

10%     Homework

20%     Quiz Average

20%     1st Mid-Term Exam

20%     2nd Mid-Term Exam

20%     Final Exam  

100%   Final Course Grade

                                 

All exams and quizzes are multiple choices with a minimum of 4 possible answers.

 

Students who miss scheduled exams (Mid-term and Final) will not be given make-up exams unless PRIOR arrangements with the instructor are made at least two weeks before the exam is scheduled, along with documentation explaining the need to miss the schedule examination time.  Missed homework and quizzes can be turned in late at anytime during the semester, but only for 50% of the credit received when turned in timely.  An average of the two Mid-term Exam scores shall be used as a substitute for the Final Exam score, if the final exam is not taken. 

 

Student are eligible to  receive extra credit by turning in the study schedule provided online and by completing the Study Plan on myeconlab.    

 

Homework, quizzes, midterms and final exam will be taken online using myeconlab.

 

The final Mid Term and Final Examination Grades are posted on MYECONLAB.  The homework, quiz and exam scores and averages can be monitor after and before each assignment on myeconlab.

 

COURSE POLICIES:

 All ACC guidelines and policies as outlined in the student handbook and the college catalog will be followed (scholastic dishonesty, withdrawals, incomplete grades, etc.)

 

FREEDOM OF EXPRESSION POLICIES:

Concerning freedom of expression, each student is strongly encouraged to participate in class. In any classroom situation that includes discussion and critical thinking, there are bound to be many differing viewpoints. These differences enhance the learning experience and create an atmosphere where students and professors alike will be encouraged to think and learn.  On sensitive and volatile topics, students may sometimes disagree not only with each other but also with the professor.  Regardless, all views and comments will be respected when expressed in classroom discussions. 

 

 

 

ATTENDANCE POLICIES:

Attendance will be taken during each class. Students are expected to attend class and participate. Excused absences will be accepted if it is annotated on a timely basis. (The definition of timely will be determined by the professor.)

 

SCHOLASTIC DISHONESTY:

Acts prohibited by the College for which discipline may be administered include scholastic dishonesty, to include 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 own 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.  If a student participates in scholastic dishonesty, the student will be dropped and a grade of F will be recorded.

 

STUDENTS WITH DISABLITIES:

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

 

WITHDRAWALS:
Students are responsible for withdrawing themselves from this course if that is what their personal situation requires. This means that if you have taken no tests or only a few of the tests and the semester ends without you having withdrawn yourself, you will receive an F in the course. The instructor makes no promise either implicit or explicit to withdraw students from the course.  
 
In addition, students should be aware of a change in the law regarding Withdrawals passed by the Texas Legislature this past spring, 2007. Starting in the fall of 2007, entering freshman will be restricted to six non-punitive withdrawals for the whole of their undergraduate careers while attending state colleges. 
 
INCOMPLETE POLICY:
Incompletes are discouraged. They will be given only when extraordinary events intervene so as to make completion of the course impossible. If you want an incomplete, these events must be documented. To receive an incomplete the student must have a quiz grade average of C or better. The student must also come by my office to fill out an incomplete form. If the form is not filled out, an incomplete grade will not be given.
 
Incompletes will not be given to students who are behind schedule when the semester nears its end. Nor will incompletes be given to students who need just a few more points to make the next higher letter grade. Plenty of opportunity exists during the semester to accomplish your goals.
 
If you find yourself way behind or many points short toward the end of the semester you may withdraw without a grade penalty up to four weeks before the end of the semester. 

 

 

ACC USERNAME AND PASSWORD:

If you have not created your new ACC Username or Password through ACCeID Manager, then please go to this link: https://acceid.austincc.edu/idm/user/login.jsp, and CLICK on First-Time Login. Your ACCeID will be the first letter of your first name and your seven digit ACC ID number. For example, John Brown or Jane Doe might have this Username j1234567.  Once you submit this Username, just follow the instructions.


CLASS SCHEDULE

(NOTE: THIS CLASS SCHEDULE IS A GUIDELINE AND IS SUBJECT TO CHANGE AS NEEDED DURING THE SEMESTER)

 Week

Lecture and Assignment Dates

Content and Lectures

Homework and Quiz Assignment Due Dates

 

 

1

May 30

PART ONE

Introduction

Chapter 1 What is Economics?

June 2

 

2

June 4

Chapter 2 The Economic Problem

 

June 9

 

3

June 6

Chapter 3 Demand and Supply

June 9

 

 

 

 

 

 

 

4

 

June 11

PART TWO

Monitoring Macroeconomic Trends and Fluctuations

Chapter 4 Measuring GDP and Economic Growth

 

June 16

 

 

5

 

June 13

Chapter 5 Monitoring Jobs and Inflation

 

June 16

 

1st Mid-Term Exam -  June 14-17

 

6

June 18

PART THREE

Macroeconomic Trends

 

 

 

Chapter 6 Economic Growth

 

June 23

 

Mid Term Chapter 1-6

 

 

7

 

June 18 & 20

Chapter 7 Finance, Saving and Investment

 

June 23

 

8

June 20

Chapter 8 Money, the Price Level and Inflation

 

June 23

 

9

June 25

PART FOUR

Macroeconomic Fluctuations

Chapter 10 Aggregate Supply and Aggregate Demand

 

 

June 30

 

10

June 25 & 27

Chapter 12 U.S. Inflation, Unemployment, and Business Cycle

June 30

 

 

 

11

June 27

PART FIVE

Macroeconomic Policy

Chapter 13 Fiscal Policy

June 30

 

12

July 2

Chapter 14 Monetary Policy

July 7

 

 

 

12

July 2

Mid Term Exam Chapter 7-14

July 3-8

 

 

 

12

July 2

Final Exam Chapter 1-14

July 3-8