Austin Community
College
Department of
Economics
Principles of
Macroeconomics
|
INSTRUCTOR |
MELBOURNE ISAAC |
|
|
|
|
|
|
COURSE |
PRINCIPLES OF MACROECONOMICS 2301 |
OFFICE HOURS |
M: 5:15p -
5:40p 6:55p
– 7:00p W: 5:15p - 5:40p
6:55p
– 7:00p |
|||
|
SECTION |
0-13 |
|
|
|
OR
by Appointment |
|
|
SYNONYM |
40185 |
|
|
EMAIL |
Misaac@austincc.edu |
|
|
LECTURE |
M W 5:40p - 6:55p |
|
|
PHONE |
223-1795 x 26217 |
|
|
OFFICE/RM |
RVS 7002 |
|
|
VOICEMAIL |
223-1795 x 26217 |
|
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.
By the end of this course you
will be equipped with basic tools of macroeconomics and you will have the
knowledge to apply these tools to key economic relations in understand
macroeconomic concepts and issues. In addition to the above, this course also seeks
to develop your skills in, analytical thinking, problem solving, writing
ability, and team work.
Course
Materials
Macroeconomics:
Required: Mankiw, Gregory N., Principles
of Macroeconomics, 5TH ed. South-Western, 2009.
ISBN
0-324-58999-3
Optional/Highly Recommend: Mankiw,
Gregory N., Principles of Macroeconomics
Study Guide, 5TH ed.
ISBN 0-324-59122-4
Instructor’s Written Notes
Instructor’s notes and slides are the
sole property of the instructor, and they will NOT be given to any student, so
please, don’t ask unless there is a special documented circumstance.
Instructional Methodology
The material will not
necessarily be verbatim form the text. The instructor adheres to a lecture and
discussion format. Use of overhead will be use for illustrative and learning
purposes. The textbook readings are highly recommended. The text is helpful to
the material covered in class. Students should read the assigned course
material before class. After class, it is important that students review the
concepts discussed and work the problems at the end of the chapters. Student
participation is expected and is highly encourage in class discussion. Feel
free to ask questions at any time during the class, taking into consideration
time constraint. By the end of our time together, you will have an appreciation
for the knowledge gained in this course. If you have any questions outside of
class and office hours, don’t hesitate to contact me.
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.
Common Course Objectives/Student
Outcomes 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.
Course
Evaluation/Grading System
Grade Determination
Grade Points (600) Grade Percentage
Exam I: 135 22.5%
Exam II: 135 22.5%
Exam III: 180 30%
Quizzes: 9 (Drop Lower) 90 15%
Homework: 6 (Drop Lower) 60 10%
Grade
System (Grades are earned NOT given)
A: 90-100
B: 80-89
C: 70-79
D: 60-69
F: 0-59
Exams:
The exams and homework questions will encompass a combination of multiple
choice, short answer and quantitative questions, where applicable. All exams
will be in-class, closed book, closed notes. Students are required to take the
exams at the scheduled time. The final exam is non-cumulative. Makeup
exams will be given with a VALID documented excuse ONLY.
Indeterminate bonus questions will be given on exams, quizzes, and throughout
the course as appropriate. STUDENT ID IS REQUIRED FOR ALL EXAMS.
Homework: Students will be assigned problem sets during the
course to reinforce the concepts and to expand the issues analyzed beyond the
classroom. The purpose of homework is for you to further grasped the concepts
and show evidence of your learning endeavors. Homework is a learning tool, and
the goal is to give students the ability to apply what they have learnt in
class. Homework and problem sets will be assigned and randomly collected at the
beginning of each class. The lowest score will be dropped. (In the course outline, Q are
Questions for Review, and P are Problems and Applications). Late
homework submission WILL NOT be accepted. Students are encouraged to work in
small groups of 3-4, but all students must do their own write-ups. Duplicated
problem sets/Questionnaires WILL NOT be accepted. Students
should do all assigned homework questions. In addition, the instructor reserves
the right to give students alternate problem sets as homework.
Quiz Policy: Nine quizzes will be given at the beginning of selected class,
and may include other assigned problems. The lowest score will be dropped. NO
makeup quiz will be given. If you have a documented excuse, student
will receive the average of all quiz taken.
COURSE
POLICIES:
Class attendance is highly and strongly encouraged, and is critical to
the student success in this course. Unexcused absences may seriously affect student’s
overall performance for the course. Students MUST adhere to all college
policies and procedures. My ultimate goal is to help you gain an understanding
of how knowledge of economics will be applicable to you in the future. I strive
to be very organized and to present the material in a straight forward manner.
No cell phone will allowed during class. No private conversations as this may
disrupt the learning process. If students have any questions about a topic been
discussed, feel free to ask a question. If a student is absent from class, it
is the student responsibility to find out about important announcements.
Withdrawal Deadline/Withdrawal Policy
It is the responsibility of
the student to withdraw from the class by the established deadline. The
LAST DAY TO WITHDRAW IS MONDAY,
State of Texas legislature has
implemented laws for freshman and incoming students that limit student’s
withdrawal to SIX courses in attainment of a four year degree. Students should
take this into account very seriously when making withdrawal decisions.
Incomplete policy
The college has a
standardized policy for granting incomplete grades to students. An incomplete
(I) will be granted to a student in rare circumstances. An (I) cannot be
carried beyond the established date in the following semester. Generally, to
receive a grade of I, a student must have completed all examinations and
assignments to date, BE PASSING, and have personal
circumstances that prevent course completion that occur after the deadline to
withdraw with a grade of W.
Scholastic dishonesty Policy
Scholastic dishonesty policy will be strongly enforced. 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 Outline/Calendar
The dates for covering
assigned chapters and administering quizzes and examinations are tentative. Should
any modifications occur during the semester, students will be timely informed.
|
WEEK |
DATES |
CHAPTERS |
TOPICS: READING
& DISCUSSIONS |
QUIZ |
Home-Work |
|
1 |
24-Aug |
INTRO |
Syllabus Review |
|
Assigned |
|
|
|
1 |
Ten Principles of
Economics |
|
Q5,7,8, P7,8,14,16 |
|
|
26-Aug |
2 |
Thinking Like an
Economist |
|
Q1,7,10, P3,6,8 |
|
|
|
|
|
|
|
|
2 |
31-Aug |
4 |
Market Forces of
Supply and Demand |
1-2 |
Q1,7,9, P1,3,6,15 |
|
|
2-Sep |
4 |
Market Forces of
Supply and Demand |
|
|
|
|
|
|
|
|
|
|
3 |
7-Sep |
HOLIDAY |
LABOR DAY |
|
|
|
|
9-Sep |
3 |
Interdependence and
the Gains from Trade |
4 |
Q1,2,5,6, P1,4,5,6 |
|
|
|
|
|
|
|
|
4 |
14-Sep |
9 |
Application:
International Trade |
|
Q1,2,3 P1,2,4,5,11 |
|
|
16-Sep |
REVIEW |
Review |
|
|
|
|
|
|
|
|
|
|
5 |
21-Sep |
EXAM I |
COVERS CH (1, 2, 3,
4, 9) |
|
|
|
|
23-Sep |
10 |
Measuring a Nation's
Income |
|
Q5,6,7, P1,4,5,6 |
|
|
|
|
|
|
|
|
6 |
28-Sep |
10 |
Measuring a Nation's
Income |
|
|
|
|
30-Sep |
11 |
Measuring the Cost
of Living |
|
Q2,5,P1,3,4,7 |
|
|
|
|
|
|
|
|
7 |
5-Oct |
11 |
Measuring the Cost
of Living |
10 |
|
|
|
7-Oct |
12 |
Production and
Growth |
|
Q1,2,4,7,8,
P2,5,10 |
|
|
|
|
|
|
|
|
8 |
12-Oct |
18 |
The Basics of the
Open Economy Macroeconomics |
11 |
Q1,2 P4,6,10,12 |
|
|
14-Oct |
18 |
The Basics of the
Open Economy Macroeconomics |
|
|
|
|
|
|
|
|
|
|
9 |
19-Oct |
13 |
Savings,
Investments, and the Financial System |
18 |
Q1,3,6, P3,6,7,9a-b |
|
|
21-Oct |
13 |
Savings,
Investments, and the Financial System |
|
|
|
10 |
26-Oct |
REVIEW |
Review |
|
|
|
|
28-Oct |
EXAM II |
COVERS CH (10, 11,
12, 13, 18) |
|
|
|
|
|
|
|
|
|
|
11 |
2-Nov |
15 |
Unemployment |
|
Q1,3,5,7, P1,4,7 |
|
|
4-Nov |
15 |
Unemployment |
|
|
|
|
|
|
|
|
|
|
12 |
9-Nov |
16 |
The Monetary System |
15 |
Q1,4,9, P5,7,9,10-13 |
|
|
11-Nov |
16 |
The Monetary System |
|
|
|
|
|
|
|
|
|
|
13 |
16-Nov |
17 |
Money Growth and
Inflation |
16 |
Q1,2,3,7, P2,4,10,11 |
|
|
18-Nov |
17 |
Money Growth and
Inflation |
|
|
|
|
|
|
|
|
|
|
14 |
23-Nov |
|
WITHDRAWAL DEADLINE |
17 |
|
|
|
|
20 |
Aggregate Demand and
Aggregate Supply |
|
Q1-3,5-7,
P1-3,7,8,11,12 |
|
|
25-Nov |
20 |
Aggregate Demand and
Aggregate Supply |
|
|
|
|
|
|
|
|
|
|
15 |
30-Nov |
21 |
Influence of
Monetary & Fiscal Policy on Aggregate Demand |
20 |
Q1,2,5
P1,2,5,8-10,12 |
|
|
2-Dec |
21 |
Influence of Monetary
& Fiscal Policy on Aggregate Demand |
|
|
|
16 |
7-Dec |
REVIEW |
Review For Finals |
|
|
|
|
9-Dec |
EXAM III |
FINALS COVERS (15,
16, 17, 20, 21) |
|
|