SYLLABUS
PRINCIPLES OF MACROECONOMICS
(ECON 2301)
FALL 2007
SYNONYM 06531 SECTION 033
BLDG ROOM 1317
DAYS T/Th TIME 10:40 am 11:55 am
DATES August 27 - December 16
SYNONYM 06538 SECTION 044
BLDG TBA ROOM TBA
DAYS T/Th TIME 07:30 am 8:45 am
DATES August 27 - December 16
INSTRUCTOR:
OFFICE HOURS: For South Austin Campus: 09:35 10:35 on T/Th
For
E-MAIL CAMPUS: jbloom@austincc.edu
HOME PHONE: 512-989-5964
CELL PHONE: 512-796-0634
E-MAIL HOME: jake27conroy@sbcglobal.net
PLEASE FEEL FREE TO
CONTACT ME AT ANY TIME before 11:00
pm and after 7:00 am (17/7)
CONFERENCES: Students may make an appointment for conferences.
TEXTBOOK: Introduction to Macroeconomics, Edwin G. Dolan, Second or Third Edition
Study Guide: Introduction to Macroeconomics, Edwin G. Dolan, Second Edition or Third Edition (optional)
WEB MATERIALS: Many websites may be visited that discuss
various topics and present data on several macroeconomic variables.
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 implemented by the Federal Reserve Authorities. Macroeconomics is concerned with the business cycle, unemployment, and inflation.
INSTRUCTIONAL METHODOLOGY: Lectures will be given. Students are encouraged to present inputs to the class for discussion, or to ask questions. Visual aides such as overhead projected view graphs, and posters will be utilized to illustrate and to apply points presented in lectures. Hand-outs may be given. The purposes of hand-outs include: provide a set of lecture notes; to further explain some concept presented by the instructor or textbook; to supply additional information, especially historical and recent real world applications (economic events) of economic concepts/theories; and to provide students with articles from a variety of economic and business news sources or journals, to encourage students to stay abreast of current economic events, to include up-to-date figures for several macroeconomic variables. Students may be asked to retrieve certain data from websites. Students will be encouraged to delve into current economic issues presented in various printed news sources and television programs which address economic/business activities.
COURSE RATIONALE: This course is meant to give students insight into the dynamics of our national economy. Knowledge gained from 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 level finance, marketing , business administration, economics, government, and social work courses. Students should be better equipped to sort out the differences between normative statements and conclusions from positive economic theory. Students should be able to apply economic concepts and theories to our real world economy.
COURSE OBJECTIVES/STUDENT OUTCOMES: Students completing this course will be able to understand:
1) the meaning of unemployment and inflation data and how that data is collected
and computed;
2) the meaning and components of the National Income Accounts, such as GDP;
3) the meaning of business fluctuations and the causes;
4) how to manipulate the aggregate supply, aggregate demand model of the macroeconomy; and understand the aggregate expenditures model:
5) how fiscal policy operates, its tools, and its advantages/drawbacks; how monetary policy operates, its tools, and its advantages/drawbacks;
6) how our fractional reserve banking system works;
7) current economic issues and goals as debated by decision makers, i.e. business firm executives, government officials, and consumers.
COURSE EVALUATION/GRADING SYSTEM:
TESTS: Four tests will be given. Each
test is worth 100 points. Types of test questions which may be given are as
follows: multiple choice; true or false; greater than or less than comparisons
between values for variables; completion; matching; definitions; short answer
essay; problems; and graph/question/problem sets. Indeed, algebraic linear equations and graphs are very important
in this course and every test will include questions/problems requiring the use
of equations and graphs. Problems
working with percent will be given in every topic.
WHENEVER MATH IS
REQUIRED ON TESTS STUDENTS MUST SHOW ALL WORK, LIKE EQUATIONS USED IN FINDING
THE SOLUTION, IN ORDER TO RECEIVE CREDIT.
DO NOT JUST PUT DOWN THE ANSWER.
Make-up tests will be permitted for only bona fide excused absences. Students are allowed to take only one make-up test. Documentation is required for an absence on test day to be counted as excused.
A Review for Test study sheet will he handed out.
Letter grades on Tests will be earned according to the standard grade curve as follows:
A = 90 to 100 points
B = 80 to 89
C = 70 to 79
D = 60 to 69
F = 59 points or less
RECENT/CURRENT
EVENTS are important to follow.
Students should study handouts on current events if given. Students should follow current events reported in the media. Be up on the latest economic indicators: unemployment rate; inflation rate (CPI); growth rate of real GDP; rate of growth of labor productivity; number of new jobs created each month; ten leading indicators; measure of consumer confidence; stock market prices; bond prices; index of industrial production; interest rates; public debt; foreign trade deficit (or surplus). Also keep abreast of developments concerning: poverty; environment; energy; crude oil/gas prices; job outsourcing; illegal markets; immigration; vehicle hybrids; government budgets, both federal, state and local; taxes; spending on Research and Development; new markets; international markets; skyrocketing health care costs; economic crises around the globe; and more.
Recent events as discussed in lecture and reported in the media may be included on
tests.
WEB-BASED EXERCISES: Three will be assigned for a total of 45 points (15 points each).
Practice Test A: Four will be assigned, but only top three scores will be counted for 45 points (15 points each).
Term Paper: Students will select their topic from a list provided by the instructor or some topic not on the list if approved by the instructor. Worth 60 points. Up to 15 extra points will be earned by oral presentation of the paper.
One or two class periods may be designated for term paper research. Students should spend the class time working on their term paper.
Total possible points: Tests 400
Web-Based Exercises . 45
Practice Tests A .. 45
Term Paper
.
75
565
Total number of points will be divided by 5.5 to determine final points average.
Students whose total number of points average is less than 60 but more than
55 may elect to do a project for extra credit in order to earn a final
letter grade of C. Students must make this election prior to taking
the final exam.
FINAL LETTER GRADES: Letter grades are earned based on the following letter grade/final points average scale:
A = 90
B = 80
C = 70
D = 60
F = 59 or less
ATTENDANCE, CLASS DISCUSSION, HOMEWORK, AND TEST ANSWERS: Students should expect to:
1) Read lecture notes (your copy of) before coming to class.
2) Participate in class discussion (not mandatory).
3) Demonstrate on their test papers their understanding of economic concepts in writing and by the use of graphs and basic math to include first order algebraic equations.
4) Should make every effort to attend every class and be on time. Attendance is important.
5) Students on the borderline between two grades will be given the higher grade if they have perfect attendance.
WITHDRAWALS AND INCOMPLETES: Students who are thinking about withdrawing from the course should first talk to me. The possibility of receiving an INCOMPLETE must be discussed with your instructor. To be given an incomplete, you must be passing.
SCHOLASTIC DISHONESTY/STUDENT DISCIPLINE: 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 person in preparing outside work. Academic work submitted by students shall be the result of their own thought, research, or self-expression. Academic work is defined as, but not limited to tests, quizzes, classroom presentations, and homework. For any case of student dishonesty I will in coordination with the Task Force Chair/Program Coordinator decide the penalty to be imposed.
STUDENT FREEDOM OF EXPRESSION: Each student is strongly encouraged to participate in class. In any classroom situation that includes discussion and critical thinking, there are bound to be many differing viewpoints. These differences enhance the learning experience and create an atmosphere where students and instructors alike will be encouraged to think, to learn and to contribute. On sensitive and volatile topics, students may sometimes disagree not only with each other but also with the instructor. It is expected that faculty and students will respect the views of others when expressed in classroom discussions.
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 OF TOPICS AND TESTS WILL BE HANDED OUT AT THE FIRST CLASS MEETING.