COURSE SYLLABUS

PRINCIPLES OF MACROECONOMICS

ECON 2301

FALL 2007

 

ECON 2301  09371 Lec 034

 

PROFESSOR:         John U. Miller, Ph.D.

OFFICE HOURS:    30 minutes before and after each class

HOME PHONE:       (830) 981-8675  (Recorder available)

FAX                            (830) 981-8969

E-MAIL:                     johnmillerut@aol.com (personal email)

                                    jmiller3@austincc.edu (ACC email)

CLASS TIME:          Wednesday 6:00-9:30 p.m.

 

Course Description:

Deals with consumers as a whole, producers as a whole, the effects of government spending and taxation policies, and the effects of monetary policy carried out by the Federal Reserve Bank.  Macroeconomics is concerned with unemployment, inflation and the business cycle.

 

Course Rationale:

This course is meant to give the 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.

 

Course Requirements:

The instructional methodology will be lecture and class discussion. 

The quality and quantity of each student’s work will determine her or his final grade.  To gain the most benefit from this course, you must be prepared for class participation and tests. Plan to devote as many hours as is necessary to insure your ability to accomplish this goal.  Assignments for reading/study are to be completed prior to each class meeting.  Students are expected to actively contribute to the instructor-guided discussions.

 

 

 

 

 

 

 

Common Course Objectives/Student Outcomes:

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

  Gross Domestic Product (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 Objectives:

This course will provide the student with an exploration of topics in macroeconomics at a general level.  The outcomes of this course are for the student to:

a.      Gain an understanding of macroeconomics.

b.     Understand how decisions are made using an economic perspective which considers scarcity, choice, rational behavior, and marginal analysis.

c.      Identify and analytically evaluate the elements of policy economics including economic goals and policy options.

d.     Enhance communication skills by providing opportunities for the exercise of both oral and written communication in the discussion of macroeconomics.

 

Course Policies:

Attendance:

“A student at ACC is expected to attend classes in order to progress satisfactorily toward completion of course objectives.   The instructor shall inform students of specific course objectives at the first class meeting.  A student who is not meeting course objectives may be WITHDRAWN from the course at the discretion of the instructor.”

 

General Information:

Each student is expected to attend all classes.  Please inform the instructor in advance if you are unable to attend. Students who are discovered cheating, committing plagiarism, or violating ACC’s policies covering academic dishonesty will be awarded a failing grade for the course and may be subject to dismissal or further discipline.  Academic integrity is expected. 

 

 

 

Required Text:

Macroeconomics. Roger A. Arnold, Eighth Edition, 2007.

Thomson South-Western College Publishing

Supplemental Readings:

            Additional materials may be handed out in class to supplement the

discussion of certain topics.

 

Course Grading:                                        % of Grade

            Examinations (3)                                   75%

            Answers to Topical Questions          15%

            Class Participation                               10%

                                                                             100%

 

*NOTE: All elements (3 exams and answers to topical questions) are to be completed and turned in, or a grade of Incomplete (I) will be given until every item is turned in. All elements are to be original work of each student.

 

Grading Standards:

The final letter grade will be based on the final average earned on all above criteria.  A(90%-100%); B(80%-89%); C(70%-79%); D(60%-69%);

F(Below 60%).  Incompletes will only be granted with the instructor’s approval and subject to the requirements of Austin Community College.

Class Participation:

Student participation includes demonstrating interest and preparation for class by asking questions and volunteering answers to questions posed during class discussions.  This is an opportunity to speak out and try new ideas in a supportive environment.  The success of this course depends on you and your preparation.

 

Scholastic Dishonesty:

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.

 

MACROECONOMICS

ECON 2301

 

CLASS SCHEDULE

Week                    Date                                             Topic

    1                  September 26th                  Course Introduction and Overview

                                                                        Chapter 1. What Economics is About

                                                                        Appendix A: Working with Diagrams

 

2                                    October 3rd                          Chapter 2

Chapter 3

 

    3                  October 10th                        Chapter 4

                                                                        Chapter 5

 

4                  October 17th                        Chapter 6

                                                                        Chapter 7

  

    5                  October 24th                        Exam I (Chapters 1 thru 5)

                                                                        Chapter 8

 

6                                    October 31st                        Chapter 9                             

Chapter 10

 

7                                    November 7th                     Chapter 11

Chapter 12

 

    8                  November 14th                   Exam II (Chapters 6 thru 11)

                                                                        Chapter 13

 

9                  November 21st                   Chapter 14              

 

                    November 22nd                  Thanksgiving

                                                           

10                                     November 29th                   Chapter 15

Chapter 16

 

 11                   December 6th                      Chapter 17

 

 12                   December 13th                   Exam III (Chapters 12 thru 17)

 

NOTE:  This syllabus may be altered in the event of extenuating circumstances.