REVISED

Macroeconomics 2301

Section ECON-2301-037

Synonym 25694

Instructor: Patty Leo

Office Hours: Tues,Thurs 8:40 to 9:10 p.m. or by appointment

Room: Room 1302

Phones: 291-1555 home

458-7111 x6944 work

789-0140 cell

E-mail: leom319@aol.com

pleo@austincc.edu

patty.leo@dshs.state.tx.us

Course Description: 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 unemployment, inflation, and the business cycle.

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, class participation/homework, written project, tests.

Text: Macroeconomics, Eighth Edition, Roger A. Arnold. A variety of online learning tools, including pretests and graphing, are referenced in the text.

Course Outline:

Aug 26 to Sep 11: Chapters 1-6, including Appendices

Test 1, Thursday SEP 11

Sep 12 to Sep 30: Chapters 7-10

Test 2, Tuesday SEP 30

Oct 1 to Oct 16: Chapters 11-19

Oct 1 to Oct 16: Written project

Thursday Oct 16: Comprehensive Final

Test dates are targets and may be adjusted if necessary.

Tests: Regular tests are 35 multiple choice questions with 3 to 5 multi-part short answer/graph questions. There will be 2 regular tests over the chapters outlined above, with a comprehensive final which is required.

Grading Policy: Course grade will be calculated as follows

˜ Combined Test 1 & 2— 30% of total

˜ Final — 35% of total

˜ Project — 30% of total

˜ Class participation/homework — 5% of total

Extra credit work will be available for each of the first two 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 for Tests 1 and 2 will be given in the testing center only with a reasonable excuse for absence and within one week of the original test date.

Read the Testing Center policies. Information on the Testing Center may be found at

url: http://www.austincc.edu/testctr/studentarea.php

Course Policies:

Attendance: You are expected to attend class, but it is your choice—you (or someone) paid for it! Attendance will only be taken early in the course so I can try to learn names. However, 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. Attendance will not be included as part of the grade, but if you don’t come to class, you will not do as well in this course. Plus, if you are called to put your homework on the board and you are absent, a 10 point deduction will be made in your participation grade.

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 Fall 8-Week session is October 13 (Mon.) If you do not withdraw, I won’t 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.

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 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. 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.