SYLLABUS
PRINCIPLES OF
MACROECONOMICS
Georgetown High School
McCallum High School
Summer 2009
Georgetown High School
06-08-09 thru 07-14-09
08:00 am to 09:30 am
MTWThF
________________________________________________________________________
McCallum High School
06-08-09 thru 07-07-09
10:50 am to 12:40 pm
MTWThF
GEORGETOWN
HIGH SCHOOL
SYNONYM 35007 SECTION ECON-2301-027
ROOM 217
McCALLUM HIGH
SCHOOL
SYNONYM 37407 SECTION ECON-2301-035
ROOM 164
INSTRUCTOR: Jake Conroy Bloom
OFFICE HOURS: Georgetown HS: 9:30 am to 10:00 am MTWTh
McCallum
HS: 12:40 pm to 01:15 pm MTWThF
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: Macroeconomics by McConnell & Brue, 17 e
Study Guide: Not required.
WEB
MATERIALS: A few websites will 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 economic growth, the business cycle, and the unemployment and inflation of economic instability.
INSTRUCTIONAL METHODOLOGY: Lectures will be given utilizing power point, digital image graphs/tables from textbook, overhead transparencies, and white board. Students are encouraged to present inputs to the class for discussion, or to ask questions. Hand-outs will be given. The purposes of didactic hand-outs include: provide a subset of some 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 occasional articles from a variety of economic journals or business news sources. Students are encouraged to stay abreast of current economic events, to include up-to-date figures for several macroeconomic variables such as the rate of inflation and the unemployment rate. Students may be asked to retrieve certain data from websites.
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 required ingredients for economic growth; the meaning of business fluctuations and the causes;
4) applications of 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 and economists;
8) how the foreign exchange market works, the balance of payments, and other key features of international trade finance;
9) some basics on the economics of developing nations (time permitting).
COURSE EVALUATION/GRADING SYSTEM:
TESTS: Three 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. Extra credit may be offered on each test.
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. Make-up tests must be taken, usually during
the instructor’s office hours, no later than 2 class days following the initial
test date.
A Review for Test study sheet will he handed out prior to each test date.
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; social security shortfall and proposed solutions; and more. This listing is not exhaustive.
Recent events as discussed in class and reported in the media may be included on
quizzes and/or tests.
Practice Tests: Three will be given for a total of 60 possible points.
WEB-BASED EXERCISES: One on the NIPA Tables for the economy will be assigned and count 30 points toward your final grade.
Quizzes (in-class, closed-book) These ten quizzes will be closed-book. See the Schedule of Topics and Tests for the dates of these quizzes. These quizzes may not be made-up for any reason. However, your lowest scores on two quizzes will be tossed out. Total points possible are 100 points. Each quiz is worth 12.5 points.
Term paper: Up to 70 points possible. Up to an additional 15 points may be earned by making an oral presentation of your paper (5 minutes).
Attendance: Students start with 40 attendance escrow points. For each unexcused absence, 8 points will be subtracted. For documented absences which your instructor determines are excused (only two), no escrow points will be subtracted.
Homework
questions and problems from your textbook will be assigned in order to enhance
your learning/application experience. No
points will be earned for this homework.
Do not turn it in. If you would
like to have the answers to any of these questions/problems, ask your
instructor.
All work that must be turned-in must be turned-in on time. No late work will be accepted. Zero points!
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
Hypothetical computation of a final grade:
3 Tests……………….260
Practice tests………… 40
In-class quizzes……... 75
Term Paper…………. 75
Web Exercise……….. 30
Attendance………….. 32
Total points…….. 512 divided by 6 = 85.3
Final Grade = B
Total possible points for the course = 600
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 on occasion.
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) Complete textbook reading assignments and homework.
5) Should make every effort to attend every class and be on time. Attendance is important.
6) To receive an excused absence, students must ask the instructor for a documentation sheet to be completed by the student/parent or other
responsible person.
7) Documentation as to the need for an excused absence from other individuals (like a physician) may be required.
8) Students on the borderline between two grades will be given the higher grade if they have perfect attendance (have to be within two points of the next higher grade). For perfect attendance, only one excused absence will be allowed.
WITHDRAWALS: Students who are thinking about withdrawing from the course should first talk to your instructor. The instructor will not withdraw students. Students are advised that they are allowed a maximum of 6 non-punitive withdrawals over all of their undergraduate courses while attending state colleges.
The final
date for withdrawal is __________.
Students who have not withdrawn by this date will receive the grade they
earn, which in most cases is an F (where the student discontinues coming to
class and completing assignments and tests).
TO AVOID AN F, BE SURE YOU GET OFFICIALLY
WITHDRAWN!
Incompletes: The possibility of receiving an incomplete must be approved by your instructor. Extenuating circumstances must prevail in order to justify a grade of I. If approved, the instructor will determine the deadline for completion.
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.
TENTATIVE OUTLINE OF TOPICS AND TESTS FOR THE COURSE WILL BE HANDED OUT AT THE FIRST CLASS MEETING.