Principles
of Macroeconomics
ECON 2301 PCM--Open Campus Syllabus
PCM = Internet Based
8
Week Session SPRING 2010 synonym 08243
March 22 – May 12
Instructor: Gary Livingston
Contact: glivings@austincc.edu
The best way to contact me is
through email. I check email at least once a day and usually several times
daily.
Blackboard: Blackboard is an on-line classroom
management tool. It includes a grade book, an announcements page, and a
facility for administering on-line tests and quizzes.
Course Announcements will be posted
to Blackboard; midterm exams will be administered through Blackboard; and your
course grades can be accessed through Blackboard. In addition to the email address given above,
communication will be done through announcements on Blackboard and/or
announcements on the class homework site on MyEconLab (seebelow)
Blackboard's URL is http://acconline.austincc.edu. This is
the URL for ACC's Blackboard site. Do not go to blackboard.com, the company's
own site.
DON’T HAVE A USERNAME AND PASSWORD
YET?
If you have not created your new ACC
Username or Password through ACCeID Manager, then please go to this link: https://acceid.austincc.edu/idm/user/login.jsp.
Do not fill in your Username and
Password on this page, since you do not have either yet. DO CLICK on
“First-Time Login.”
Your ACCeID will be the first letter
of your legal, given, first name and your seven digit ACC ID number. For
example, fictional student Adam Smith might have this Username a0067701.
Once you submit this Username, just
follow the instructions.
Once you have done this, please make
sure that your correct email address is listed on Blackboard. If it is not,
please follow the instructions on this course's Announcement page of
Blackboard.
The first day students can access
Blackboard is typically the day after regular registration ends.
Helpful Hint: Once you are logged into ACC's Blackboard site, the easiest way to navigate the this course's Blackboard content is by first clicking on the "Courses" tab in the upper left hand corner of the first Blackboard page that comes up. Then click on the name of the course: Principles of Macroeconomics Course ID: 210S-08243-ECON 2301-059. You are then taken to the course's main Blackboard page. It is much easier to find the "User Tools" button and the "Assignments" button, where the links to the on-line exams can be found, than if you try to navigate from the very first page that comes up when you log onto Blackboard
The purpose of this course is to
familiarize the student with the generally accepted principles of
macroeconomics. Though ultimately based on the actions of individual households
and business firms, macroeconomics deals with aggregates--i.e., consumers as a
whole, producers as a whole, exporters and importers as a whole, the effects of
government spending and taxation, and the monetary policy of the central bank.
Macroeconomics is concerned with such things as unemployment, inflation, and
the business cycle.
Departmental Course Description, Rationale, Common Course
Objectives/Student Outcomes, and Departmental Quiz
1.
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.
2.
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.
3.
Common Course Objectives/Student
Outcomes.
Students
who complete this course will be able to understand:
o
the meaning of unemployment and
inflation data and how that data is collected and computed;
o
the meaning and components of the
National Income Accounts, especially GDP;
o
the meaning of the business cycle
and its phases;
o
and to manipulate the basic
Aggregate Supply, Aggregate Demand model of the macro economy;
o
how fiscal policy operates, its
tools, and its advantages and drawbacks;
o
how a fractional reserve banking
system works;
o
how monetary policy operates, its
tools, and its advantages and drawbacks.
The examinations in this course are
based on learning objectives composed by the instructor that you can find by going
to:
http://www.austincc.edu/sondg/LrnObjsExams/MillerMacroLrnObjIndex.html
Read these objectives carefully
before you read the corresponding chapter in the textbook. The learning
objectives are correlated exactly with the questions on the exams and are more
In general, after studying each
chapter, you should be able to:
The learning objectives are there to
help you focus your mind on the important concepts and theories discussed in
the unit. The exams will test your knowledge of and ability to apply these
learning objectives. Knowing this will help you efficiently allocate your
mental energies.
Required textbook and materials:
Economics Today: The Macro View plus
MyEconLab plus eBook 1-semester Student Access Kit, 15/E:
This is a traditional “introduction
to macroeconomics” college textbook. If you buy this text new, an access kit
granting students access to the on-line homework site, MyEconLab, and the
associated eBook has been added.
Some version of the textbook, new, used, or
eBook, is required. So is access to the course's MyEconLab site. You will not
be able to pass this class without the required text.
You can buy the eBook and MyEconLab
together as a package without the hardcopy of the textbook if you so desire.
Instructions on how to do so can be found below.
You can buy used copies of this text
also. In fact, I see no reason why you couldn't use the 13th or 14th edition if
you can find them. (Hint: Search engines). However, you need to be careful
here, because in all probability you will not receive a access kit that has not
been used, even if you buy a used 14th edition. So, if you do buy used, you
will most likely still need to buy access to MyEconLab. Instructions on how to
do this can also be found below.
WHERE TO PURCHASE:
(The following information about
MyEconLab was taken from the publisher's web site at http://myeconlab.com/productinfo/stu_features.shtml.
It is worth a visit since additional information in the form of javascript
windows is present on that page.)
Students benefit when they arrive
for class confident and prepared. MyEconLab is the only online assessment
system that gives students the tools they need to learn from their mistakes
right at the moment they are struggling.
A Study
Plan is generated from each student's results on Sample Tests and instructor
assignments. Students can clearly see which topics they have mastered-and, more
importantly, which they need to work on. The Study Plan links to additional
practice problems and tutorial exercises to help on those topics.
Many Study
Plan and instructor-assigned exercises contain algorithmically generated
values, ensuring students get as much practice as they need. Every problem
links students to learning resources that further reinforce concepts they need
to master.
In the
lower-left corner of each practice problem is a link to the eText page
discussing the very concept being applied. Students also have access to guided
solutions, animated graphs, audio narratives, flashcards, and live tutoring.
MyEconLab has a suite of graphing tools for practice and current news articles
that tie chapter topics to everyday issues.
MyEconLab
comes with two pre-loaded Sample Tests for each chapter so students can
self-assess their understanding of the material. Instructors can assign these
Sample Tests or create assignments using a mix of publisher-supplied content
and their own custom exercises.
The instructor of this course strongly encourages students to take the product
tour of MyEconLab available here: http://myeconlab.com/prodtour/index.html.
Important information about MyEconLab is contained in this tour. Please be sure
to view all four parts of the tour:
All exams, including the final exam,
are objective, multiple-choice question exams.
Exams are based on the learning
objectives students are expected to master. For more information on learning
objectives, please see the section on "Learning
Objectives" in this syllabus. Furthermore the exam questions will be drawn
exclusively from the textbook, Economics
Today: The Macro View.
The exams over each Unit assigned
will include ten questions over each chapter assigned for each Unit -- forty questions
in all. The questions will appear on the exams in the order in which the
chapters were assigned for the Unit. For example, on the first exam the first
ten questions will cover Chapter 1, the next ten will cover Chapter 2, the
third ten will cover Chapter 3, and the last ten will cover Chapter 4. Indeed the questions will be numbered in exactly the same
way as the learning
objectives the questions are associated with are numbered.
The midterm/unit exams will be
administered over the internet through the course's Blackboard site. You
will find them in a folder under the tab for "Assignments" in
Blackboard.
There will be ten learning
objectives listed for each chapter. Each learning objective will have 10 or
more questions connected to it by the testing program used in this course. That
program will randomly choose one question from each group of ten for the exam.
For example, if an exam is 40 questions long like the exams for this course,
then there will be 10 ways to select the first question, ten ways to select the
second question, and so on to the fortieth question. The number of different
exams this program can generate for one midterm/unit exam is 1040.
One billion is 1 followed by 9 zeros. 1040 is 1 followed by 40 zeros.
The online midterm/unit exams will
also be timed. You will have 60 minutes to answer 40 questions.
Once again, the unit exams will be given on the
Blackboard internet course platform used by ACC, so students will need to sign
on to Blackboard in order to take the exams.
Students will have the opportunity
to re-test each exam twice. Students do not have to re-test at all. If a
student is satisfied with his score after the initial attempt, he can stop
there. If a second or third try is made, the last attempt will completely
overwrite (erase) previous efforts.
So be careful, you can do worse on
these re-tests. If you re-test, you will receive the grade you made on your
last attempt.
The results of the last re-test
will be used in determining your grade. This means there is some risk in
re-taking an exam, since you could do worse. This risk is intentional. I put it there hoping that it would give you some incentive
to re-study the material if you decide to
re-take an exam. Of course, you could
do much better on the re-test.
If you do I will use that result to calculate your end of the semester grade.
Students will be allowed three
attempts on each on-line, mid-term exam--the initial attempt and two re-tests.
Blackboard 8 allows these exams to be re-set without the permission of or
action by your instructor. If you
want to take a re-test, just go to Assignments and the
folder that contains the exam you want to re-test. Click on the link for that
exam, and a message window will pop up asking you if you really want to
re-test. If you indicate that you do want to re-test, then the old grade will
be removed and you will be allowed to re-test. You score on the re-test will
completely replace your old score on the exam.
YOU
SHOULD TAKE THE EXAMS NO LATER THAN THE LISTED DATE.
However, all exams will be available
on Blackboard for re-testing purposes through May 11
All re-tests of unit exams must be taken by
midnight, May 11 There will be absolutely no testing or re-testing
over midterm exams after May 11.
There is no re-testing on the final.
Contact the instructor if you are unable to take any of the exams by the listed
date.
CHAPTER
ASSIGNMENTS/TESTING***
UNIT I |
Chapter 1: The Nature of Economics |
|
Chapter 2: Scarcity and the World
of Trade-Offs |
|
Chapter 3: Demand and Supply |
|
Chapter 4: Extensions of Demand
and Supply Analysis |
Test
over UNIT I due by April 1 for extra credit points.
UNIT
II |
Chapter 7: The Macroeconomy:
Unemployment, Inflation, and Deflation |
|
Chapter 8: Measuring the Economy’s
Performance |
|
Chapter 9: Global Economic Growth
and Development |
|
Chapter 10: Real GDP and the Price
Level in the Long Run |
Test
over UNIT II due by April 13 for extra credit points.
UNIT
III |
Chapter 11: Classical and
Keynesian Macro Analyses |
|
Chapter 12: Consumption, Real GDP,
and the Multiplier |
|
Chapter 13: Fiscal Policy |
|
Chapter 14: Deficit Spending and
the Public Debt |
Test over
UNIT III due by April 21 for extra credit points.
UNIT
IV |
Chapter 15: Money, Banking, and
Central Banking |
|
Chapter 16: Money Creation and
Deposit Insurance |
|
Chapter 17: Domestic and
International Dimensions of Monetary Policy |
|
Chapter 18: Stabilization in an
Integrated World Economy |
Test
over UNIT IV due by May 4 for extra credit points.
Deadline
for Extra Credit on Final Exam: May 12
Last
deadline for Final Exam May 14.
All midterm exams will be
available on Blackboard for re-testing purposes through May 11. The exams go off at 11:59 PM, May 11.
|
Important Note: If you take these tests on time you will receive extra
credit points that will improve your grade. See "Extra
Credit Points" under "Grading"
for details. The total value of these extra credit points is equal to 3.75% of the course grade. You can earn additional extra
credit points by doing more than the required MyEconLab Homework & Quizzes.
Details about all the extra credit points available can be found under "Extra
Credit Points" below.
Contact the instructor if you have fallen behind schedule so that you can put
together a plan to catch up.
Final Exam:
The Final Exam must be taken in a
Testing Center.
You MUST show your student ID and a
photo ID in order to take an exam at a Testing Center.
The Final Exam can be taken at the Testing Centers on the Northridge,
Rio Grande, South Austin, Riverside, Pinnacle, Eastview, Round Rock,
Fredericksburg, San Marcos, or Cypress Creek Campuses. The Final Exam will be graded by the Testing Center
personnel while students wait for the results. Students will not be able to
take the final exam at the San Marcos, Round Rock, or Fredericksburg testing
centers May 4, since at least 10 days are needed for the instructor to
receive exams from these testing centers.
The final exam will be
comprehensive. Two or three questions will be drawn from each chapter covered
during the semester. The questions will be arranged in the order the chapters
were assigned. Questions over Chapter 1 will be the first ones encountered and
questions over Chapter 18 will be the last ones encountered.
You will find no questions over chapters 5 and 6, since those chapters are
skipped in this course.
You will be allowed to bring to the exam an 8.5x11
inch piece of paper with notes written on both sides. This crib sheet must
be hand written -- not typed, and it must not be a photocopy.
This crib sheet must also be turned in with your answer sheet. You must use a crib sheet even if it has nothing on it except a
note saying you didn't prepare a crib sheet with your signature.
Please make a photocopy of your crib sheet if you want to save it. The
original will be taken up with the final
exam in the Testing Center and will not be returned to you.
More information about the final can
be found on this course's Blackboard site.
There is
no retesting on the final exam.
Final Exam: Extra credit by May 12. Last day to take Final Exam: May 14.
MyEconLab
Homework and Quizzes:
MyEconLab.com is the online study
guide which accompanies our Miller text. 25% of your grade, 1000 points, will
come from MyEconLab Homework and Quizzes. MyEconLab is required, not
optional.
MyEconLab has three types of
assignments:
Each
question will have a panel of helps to the left of the window. These
"helps" include
The Results page will give you your
scores on each assignment, as well as your overall average.
Quizzes and Homework assignments will have due dates.
You will not be able to do the assignments for credit after their
deadlines have passed.
Note: For grading purposes, I will
award up to 25 points for each homework assignment and up to 50 points for each
quiz. On MyEconLab the points for the homework assignments and quizzes differ
from the points I will be assigning. On MyEconLab the points for homework
assignments quizzes are always 100 points (or 100%). MyEconLab reports the
percentage correct you have made on the homework and the quizzes. I take those
percentage grades and multiply them times 25 points and 50 points respectively
for the homework assignments and quizzes, and I record the results of these
calculations as points in the Blackboard gradebook.
DEADLINES
FOR
Homework Assignments and Quizzes
On MyEconLab over chapters from
Economics Today: The Macro View by Roger LeRoy Miller
Chapter |
Homework
Points |
Quiz
Points |
Due Dates |
Getting
Started and Ch 1 |
50 |
50 |
Mar
31 |
2 |
25 |
50 |
Mar
31 |
3 |
25 |
50 |
Mar
31 |
4 |
25 |
50 |
Mar
31 |
7 |
25 |
50 |
April
12 |
8 |
25 |
50 |
April
12 |
9 |
25 |
50 |
April
12 |
10 |
25 |
50 |
April
12 |
11 |
25 |
50 |
April
20 |
12 |
25 |
50 |
April
20 |
13 |
25 |
50 |
April
20 |
14 |
25 |
50 |
April
20 |
15 |
25 |
50 |
May
3 |
16 |
25 |
50 |
May
3 |
17 |
25 |
50 |
May
3 |
18 |
25 |
50 |
May
3 |
|
425 |
800 |
|
Extra
Credit Tests on MyEconLab over chapters from
Miller's Economics Today: The Macro View
These chapters are not covered on
any exam and are not assigned in the regular course. However if you want more
points from these chapters, you should read the chapters and take these quizzes
by December 11 at midnight. You must score at least 70% on any quiz to get any
points for that quiz. Deadline for all: May 11
Chapter |
Due
Date |
Points
Available |
5 |
May
11 |
50 |
6 |
May
11 |
50 |
19 |
May
11 |
50 |
33 |
May
11 |
50 |
34 |
May
11 |
50 |
Grading is based on the total number
of possible points available on the exams and
the required MyEconLab Homework & Quizzes.
There are four required Unit exams and a required final exam. Each midterm exam
will consist of 40 questions. Each question on the Unit exams (midterms) is
worth 10 points. The final exam will consist of 50 questions. Each question on
the final exam is worth 28 points.
|
Exam 1 |
= |
(40)
X (10) |
= |
400 |
|
Exam 2 |
= |
(40)
X (10) |
= |
400 |
|
Exam 3 |
= |
(40)
X (10) |
= |
400 |
|
Exam 4 |
= |
(40)
X (10) |
= |
400 |
MyEconLab Homework |
= |
= |
333 |
||
MyEconLab Quizzes |
= |
|
= |
667 |
|
|
Final Exam |
= |
(50)
X (28) |
= |
1400 |
Total Possible |
4000 |
Number of Points needed
for Final Letter Grade
|
4000-3600 |
(100-90%) |
A |
|
3599-3200 |
(89.9-80%) |
B |
|
3199-2600 |
(79.9-65%) |
C |
|
2599-2200 |
(64.9-55%) |
D |
|
2199-0 |
(54.9-0%) |
F |
There are three ways to for students
to improve their grades by earning extra credit points. The total number of
extra credit points possible is equal to21% of
the 4000 points upon which letter grades will be determined.
Extra Credit Type 1: Take the tests
on time:
You can earn extra credit points by
taking your exams on or before the initial testing deadlines.
You will earn 20 points for each
Unit exam taken on or before its deadline. You will not lose these extra credit
points if you take the re-test for that unit.
If you take the Final on or before
its deadline, you will earn 70 extra credit points.
The total number of extra credit
points you can earn by taking the exams on time is 150. This is equivalent to
3.75% of the total points available (4000) from the tests, the final, and
required MyEconLab Homework & Quizzes.
Extra Credit Type 2: Completing more
than the required number of Homework assignments and Quizzes on MyEconLab:
MyEconLab homework assignments and
quizzes constitute 25% of the total points for the course. That is 1000 out of
a total of 4000 points. The list of homework assignments and quizzes and their
due dates can be found on the MyEconLab web
site.
The extra credit comes from the fact that if you actually did all of the
homework assignments and quizzes listed on MyEconLab for this course, you could
earn many more points than 1000. Every point beyond 1000 that you earn on this
part of the course will be added to your extra credit points.
There are 1225 graded Homework and Quiz points available on MyEconLab.
If you were to answer all of the homework questions correctly, you would earn
425 points. Only 333 points are needed in order to make a 100% grade on
MyEconLab homework. So if you did earn 425 points on MyEconLab homework, 92 of
those points would be considered extra credit points.
Extra credit points that earned from this source will be recorded in the same
grade column as the regular homework points in Blackboard's gradebook. These
points will not be recorded separately.
If you were to answer all of the
quiz questions correctly, you would earn 800 points. Only 667 points are needed
in order to make a 100% grade on MyEconLab quizzes. So if you did earn 800
points on MyEconLab quizzes, 133 of those points would be considered extra
credit points.
Extra credit points that earned from this source will be recorded in the same
grade column as the regular quiz points in Blackboard's gradebook.As with the
extra credit homework grades, these points will not be recorded separately.
92 plus 133 equals 225 points, and
together constitute 5.625% of 4000 points.
Extra Credit Type 3: Taking
MyEconLab Tests on the unassigned chapters of the textbook.: deadline: May 11
Chapters 5, 6, 19, 33, and 34 are not assigned and will not
be covered on any mid-term exam on Blackboard or on the Final Exam.
However small tests over these chapters will be made available on MyEconLab,
not on Blackboard. Each of these
tests will be worth 50 points.
If students are looking for another way to improve their grade, then they are
encouraged to read these chapters and take these tests.
Students must make 70% or better to earn any points on these tests. This policy
is meant to discourage students from taking these tests without reading the
chapters. There will be a total of 250 extra credit points available from these
tests. 250 points is 6.25% of 4000 points.
Incompletes:
Incompletes are discouraged. They
will be given only when extraordinary events intervene so as to make completion
of the course impossible. If you want an incomplete, these events must be
documented. To receive an incomplete the student must have completed two exams
with a grade of C or better. The student must also come by my office to fill
out an incomplete grade form. If the form is not filled out, an incomplete
grade will not be given.
Incompletes will not be given to
students who are behind schedule when the semester nears its end. Nor will
incompletes be given to students who need just a few more points to make the
next higher letter grade. Plenty of opportunity exists during the semester to
accomplish your goals.
If you find yourself way behind or
many points short toward the end of the semester, you may withdraw without a
grade penalty up to three weeks before the end of the semester. Please read the
following note about withdrawals.
Students are responsible for withdrawing
themselves from this course if that is what their personal situation requires.
This means that if you have taken only two of the tests and the semester ends
without your having withdrawn yourself, then you will receive an F in the
course. The instructor makes no promise either implicit or explicit to
withdraw students from the course.
In addition, students
should be aware of a change in the law regarding Withdrawals passed by the
Texas Legislature in the spring of 2007. Starting in the Fall of 2007, entering
freshman will be restricted to six non-punitive withdrawals for the whole of
their undergraduate careers while attending state colleges.
The last day to withdraw from this
course without penalty is May 10..
Exam Deadlines
EXAM |
Unit
Covered |
Chapters
Covered |
Exam
Deadline for Extra Credit Points |
Location
of Exam |
1 |
I |
1,
2, 3, 4 (not 5 and 6) |
April
1 |
Blackboard |
2 |
II |
7,
8, 9, 10 |
April
13 |
Blackboard |
3 |
III |
11,
12, 13, 14 |
April
21 |
Blackboard |
4 |
IV |
15,
16, 17, 18 |
May
4 |
Blackboard |
Final |
ALL |
1-18
(not 5 and 6) |
May
12 |
Testing
Center |
Deadline
for Extra Credit on Final Exam: May 12
Last
deadline for Final Exam May 14.
All midterm exams will be
available on Blackboard for re-testing purposes through May 11. The exams go off at 11:59 PM, May 11.
|
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.
Academic
Freedom: Each student is strongly
encouraged to participate in class discussions. In any classroom situation that
includes discussion and critical thinking, particularly about economic and
political ideas, 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 opposing 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.