Austin Community College

Department of Economics

Principles of Macroeconomics

 

INSTRUCTOR

MELBOURNE ISAAC

 

 

 

 

COURSE

PRINCIPLES OF MACROECONOMICS 2301

OFFICE HOURS

T: 5:20p - 6:00p

    8:40p - 9:00p

SECTION

0-46

 

 

 

OR by Appointment

SYNONYM

14739

 

 

EMAIL

Misaac@austincc.edu

LECTURE/RM

T 6:00p - 8:40p (LEA 807)

 

 

PHONE

223-8132

OFFICE

Room 807

 

 

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, 4TH ed. Thomson South-Western, 2007. 

                ISBN 0-324-42354-3.

 

Optional/Highly Recommend: Hake, David. Mankiw Principles of Macroeconomics Student Study Guide. 4TH ed. ISBN 0-324-31903-7

 

Instructional Methodology

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                           Grade Percentage                  

Exam I:                                                             150                                           20%                            

Exam II:                                                           150                                           20%                            

Exam III:                                                          250                                           35%                            

Homework: 5 @ 10 Pts Each                             50                                             10%                            

Quiz: 5@10 Pts Each                                         50                                             10%                            

Participation/Attendance:                                   50                                            5%                                          

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 excuse ONLY. Indeterminate bonus questions will be given on exams and quizzes. 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. Five problem sets will be randomly collected at the beginning of each class following class discussion. Late homework submission WILL NOT be accepted. (In the course outline, Q are Questions for Review, and P are Problems and Applications). Students are encouraged to work in small groups of 3-4, but all students must do their own write-ups. Duplicated problem sets/Questionaires WILL NOT be accepted. Students should do all assigned homework questions.

 

Quiz Policy: Five unannounced quizzes will be given at the beginning of selected class. 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. Attendance will be used in deciding boarder line cases. The material will not necessarily be verbatim form the text. Only three unexcused absent will be allow. Unexcused absence beyond the third will result in 0% for that part of your grade. 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, April 21, 2008. If you are unable to complete this course, because of illness or other extenuating circumstances, please officially withdraw from the class. Not withdrawing from the class may result in the receipt of a failing grade.

 

State of Texas legislature has implemented laws for freshman and incoming students that limit students 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, students will be timely informed.

 

 

 

 

 

 

 

 

 

 

 

 

 

WEEK

DATES

CHAPTERS

TOPICS: READING & DISCUSSIONS

QUIZ

H-W

1

15-Jan

INTRO

Syllabus Review

 

Assigned

 

 

1

Ten Principles of Economics

 

Q5,7,8, P1,8,13

 

 

2

Thinking Like an Economist

 

Q4,5, P2,3,6 

 

 

 

 

 

 

2

22-Jan

4

Market Forces of Supply and Demand

 

Q1,4,9, P1-5,7,8,13 

 

 

 

 

 

 

3

29-Jan

3

Interdependence and the Gains from Trade

 

Q1,3,4,5, P1,2,7

 

 

 

 

 

 

4

5-Feb

9

Application: International Trade

 

Q1-3,6, P1,2,4,8 

 

 

 

Review

 

 

 

 

 

 

 

 

5

12-Feb

EXAM I

COVERS CH (1, 2, 3, 4, 9)

 

 

 

 

 

 

 

 

6

19-Feb

18

The Basics of the Open Economy Macroeconomics

 

Q1-4, P5,6,9,11,12 

 

 

 

 

 

 

7

26-Feb

10

Measuring a Nation's Income

 

Q3,5-8, P1,4-6

 

 

 

 

 

 

8

4-Mar

11

Measuring the Cost of Living

 

Q2,4,5, P1,3,9

 

 

 

 

 

 

 

 

12

Production and Growth

 

Q1,2,4,6, P1,2,5,9 

 

 

 

 

 

 

9

11-Mar

 

SPRING BREAK (Mar 10 - 16)

 

 

 

 

 

 

 

 

10