COURSE SYLLABUS
PRINCIPLES OF
MACROECONOMICS
ECON 2301
FALL 2011
ECON 2301 38039 Lec 034
PROFESSOR: John U. Miller, Ph.D.
OFFICE HOURS: 30 minutes before and after each class
HOME PHONE: (830) 981-8675
(Recorder available)
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 Attendance:
Regular attendance is expected. Exposure to an instructor’s explanations is
an important factor in a student’s ability to master the material covered. Students who attend regularly will be awarded
extra credit points. These extra credit
points could be approximately 5% of the course grade. If a student misses more than 2 classes,
these extra credit points could be instead deducted from your overall grade.
Students are responsible for
withdrawing themselves from the course if that is what their personal situation
requires. If you do not complete all of
the elements of the course (3 exams and answers to all topical questions) or
withdraw from the course yourself, then you will receive an Incomplete (I) in
the course. The instructor makes no promise either implicit or explicit to
withdraw students from the course.
The last day to withdraw from the
course without penalty is
Friday, September 16th.
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 Semester of 2007, entering freshmen
are restricted to six no-punitive withdrawals for the whole of their
undergraduate careers while attending state colleges.
“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.
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.
Required Text:
Macroeconomics.
Roger A. Arnold, Tenth Edition, 2011.
Supplemental
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
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.
MACROECONOMICS
ECON 2301
Fall 2011
CLASS SCHEDULE
Week Date Topic
1 September 21st Course Introduction and
Overview
Chapter
1. What Economics is About
Appendix
A: Working with Diagrams
2
September 28th Chapter 2
Chapter
3
3 October 5th Chapter
5
Chapter
6
4 October 12th Chapter
7
Chapter
8
5 October 19th Exam
I (Chapters 1,2,3,5,6)
Chapter
9
6
October 26th Chapter 10
Chapter 11
7
November 2nd Chapter 12
Chapter 13
8 November 9th Exam
II (Chapters 7 thru 11)
Chapter
14
9 November 16th Chapter 15
Chapter
16
10
November 23rd Chapter 17
November 24th Thanksgiving
11 November
30th Chapter 19
12 December 7th Exam III (Chapters 12,13,14,15,17,19)
NOTE: This syllabus may be altered in the event of
extenuating circumstances.