Macroeconomics 2301

Section ECON-2301-009

Synonym 03791

RGC 2nd Summer 2012

 

Instructor:           Patty Leo

Office Hours:       Before class 8:30 – 9:00 am TTH or upon request

Room:                    1st Floor Adjunct Faculty Office, Bldg 3000

Phone:                   291-1555 home (best)

E-mail:                 leom319@aol.com (best)

pleo@austincc.edu                                                                                

 

Course Description: Macroeconomics deals with the aggregate economy—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 issues like economic growth unemployment, inflation, and the business cycle. This course is meant to give students insight into the dynamics of the national economy which will make students better informed citizens and prepare them for upper level finance, marketing, business administration, economics, government and social work courses.

 

Course Objectives: Students who complete this course will be able to understand:

˜  the basic concepts of scarcity and opportunity cost;

˜  the forces of demand and supply and how they interact to determine an equilibrium price;

˜  how and why equilibrium prices might change and their impact on resource allocation;

˜  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;

˜  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.

 

I would also like you to learn how to use basic economic concepts and tools in economic analysis of the world around us and to develop analytical abilities. “It (economics) is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor to draw correct conclusions.” J.M. Keynes

 

Instructional Methodology:  Lecture, handouts, practice homework (online and in class), written project, tests.

 

Text:  Macroeconomics, 10th Edition, by Michael Parkin (Pearson, 2011). We will cover Chapters 1 through 15. You can use the 9th edition if you wish. MyEconLab is required for this course. The MyEconLab Course Number is leo91426.

 

Course Outline:

Section 1

Jul 9 to Jul 20:                     Chapters 1-6, including Appendices

Test 1, Friday Jul 20  

Section 2

Jul 1 to Aug 2:                      Chapters 7-10

Test 2, Thursday Aug 2

Section 3

Aug 3 to Aug 13:                  Chapters 11-15

Aug 3 to Aug 15:                  Written project

Tuesday Aug 14 &  

Wednesday Aug 15:         Comprehensive Final including chapters 1-15

      

Test dates are targets and may be adjusted if necessary.

MyEconLab homework for each section will be due the end of the day of the test over that section (thru 11:59 pm). If each of the section’s homework is 90% or more complete by the deadline, 2 extra credit points will be awarded.

 

Grading Policy:  Course grade will be calculated as follows-

˜  Online Practice Homework and In-Class Homework — 15% of total.

˜  2 Regular Tests — 15% each, 30% of total.

˜  Project — 20% of total.

˜  Final — 35% of total.

 

Homework:

Online: There are chapter online homework assignments in MyEconLab consisting of 40 or more multiple choice questions which are designed to prepare students for tests. You can rework these assignments up until the due date which will be the date of the test covering those chapters. This enables you to make 100% on each of these assignments if you continue to rework the questions until they are all correct. If all of the section’s homework is 90% or more complete by the deadline, 2 extra credit points will be awarded.

 

In-class: Short answer problems and graphs are assigned in addition to the online multiple choice questions. These assignments consist of multi-part problems over some of the key concepts covered in lecture and will require analysis and graphing. These short answer questions are very representative of the questions you will see on your tests. The homework will be handed out in class to be turned in at the beginning of the following class. Any late homework will have points deducted except for excused absences. The homework answers will be presented on the board before the test. The two lowest in-class homework grades will be dropped, but they can be added as extra credit points if you do them.

 

All assignments must be turned in on time. No late work will be accepted without point deductions. Your average on all homework assignments will represent 15% of your course grade.

 

Tests: Tests consist of multiple choice questions along with multi-part short answer/graph questions. There will be regular tests announced in advance, with a comprehensive final which is required. Extra credit work will be available for the first two regular tests.

 

If you are forced to be absent for any test, please let me know by phone or e-mail before the test.  Makeup tests will be given only with a reasonable excuse for absence. Read the Testing Center policies.  Information on the Testing Center may be found at url: http://www.austincc.edu/testctr/studentarea.php.

 

Project: The written project, which you will receive at Test 2, consists of short answer analytical and graphing problems similar to the in-class homework that covers the entire course. This is a way for students to demonstrate how much economics you have learned in a non-test environment, so you have much more control over your score. It also serves as an excellent review for the final. If you really work the project, you stand a good chance of scoring higher on the final than on the prior tests. The project score represents 20% of the course grade.

 

Blackboard: Handouts, in-class homework, project, and other course materials will be available on Blackboard after each class. Please check regularly for announcements.

 

Instructions on how to log into this course's Blackboard site can be found at http://austincc.edu/blackboard/stlogin.htm.

 

If you have not created your new ACC Username or Password through ACCeID Manager, then please go to this link: http://www.austincc.edu/acceid first. Once you submit this Username, just follow the instructions.

 

Course Policies:

Attendance: You are expected to attend class. You will be required to sign an attendance roll daily. You will only be allowed 3 excused absences. Any unexcused or absence in excess of 3 (unless arranged beforehand) and you may be subject to withdrawal for excessive absences. Course material may be presented in class in a different form from your textbook and could be included on any test. Students are expected to read the textbook on their own, preferably before the class in which it will be discussed. I can guarantee that if you don’t come to class or if you do not read the book, you will not do as well in this course. 10 extra credit points will be given for 100% attendance. Extra credit points will be prorated for the % of classes you attend.

 

Withdrawal: Students who enter a Texas college or university in Fall 2007 or later are limited to SIX withdrawals during their entire undergraduate academic career. It is important that students talk with an advisor or counselor prior to any withdrawal. Please read at http://www.austincc.edu/withdraw/conseq_and_resources/conseq.htm to make sure you understand about withdrawals. Students who wish to withdraw from specific courses should initiate withdrawal procedures with the Campus Admissions and Records Office prior to the published deadline for withdrawals. Students who are not withdrawn as of the established deadline will receive a performance grade (A, B, C, D, or F). Students must present a picture I.D. to withdraw from the course. Last day to withdraw (initiated by instructor or student) or to reinstate students for the Summer 2012 2nd 5.5-Week session is August 8 (Wed). If you do not withdraw, I don’t feel required to do it for you, and you will end up with a failing grade. Of course, if you just stop coming to class and don’t take the required tests and turn in your project, you will receive an F for the course. Take care of your own business. I may withdraw you from the course for excessive absences or missing tests at my discretion.

 

Dishonesty: Academic work submitted by students shall be the result of their own thought, research or self-expression. For purposes of these regulations, academic work is defined as, but not limited to exams and quizzes, whether taken electronically or on paper; projects, either individual or group; papers; classroom presentations; and homework. As described in the ACC Student Handbook, scholastic dishonesty constitutes a violation of college rules and regulations and is punishable according to the procedures outlined in the Handbook. Scholastic dishonesty includes, but is not limited to, cheating on an exam (either providing answers to or stealing answers from another student), plagiarism, and collusion. Plagiarism includes use of another author's words or arguments without attribution. Collusion is defined as the unauthorized collaboration with another person in preparing written work for fulfillment of any course requirement. If a student commits any of the above actions, the instructor may seek disciplinary action in the form of an academic penalty (which may include a course grade of 'F'). Such disciplinary action will be at the discretion of the instructor.

 

Freedom of Expression:  Each student is strongly encouraged to participate in class discussions. In any classroom situation that includes discussion and critical writing, there are bound to be many differing viewpoints. Students may not only disagree with each other at times, but the students and instructor may also find that they have disparate views on sensitive and volatile topics. It is my hope that these differences will enhance class discussion and create an atmosphere where students and instructor alike will be encouraged to think and learn. Therefore, be assured that your grades will not be adversely affected by any beliefs or ideas expressed in class or in assignments. Rather, we will all respect the views of others when expressed in classroom discussions. COURTESY TO ALL IS REQUIRED AT ALL TIMES.

 

Accommodation: Each ACC campus offers support services for students with documented disabilities through a campus Office for Students with Disabilities (OSD). Students with disabilities must request reasonable accommodations through OSD on the campus where they expect to take the majority of their classes. ACC urges students with disabilities to apply for accommodations at least three weeks before the start of each term.

 

 

You will find that I am pretty flexible as long as you play straight with me. I want every single person in the class to leave with the best knowledge of macroeconomics I can give you and I am more than willing to meet with you individually or in a group to help—all you have to do is ask. I will give you every opportunity to work for your grade—what I won’t do is just give it to you. You have to earn it, but I will give you lots of extra chances to improve it.  It really matters to me that you learn the material and that you make the best grade in the class possible with the effort you are willing to make.