Principles of Macroeconomics

ECON 2301 PCM--Open Campus Syllabus


Instructor:

KRISTYN BROWN

 


Office Hours: by appointment at

1205 Round Rock Campus

Or Adjunct offices, Rio Grande Campus courtyard


Messages: Voice mail: 223-1790 box 22645#                                 E-mail: kbrown@austincc.edu

Even though my office hours are limited, I will answer e-mail daily.
Please feel free to contact me as often as needed. 

 Blackboard: Blackboard is an on-line classroom management tool. It includes a gradebook, 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, Blackboard has its own email system. Be sure you have entered your correct email address into your Personal Information on Blackboard, or I will not be able to respond to emails you send me.

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.

 

Please make sure that your correct email address is listed on Blackboard.

 

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. 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

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Course Description:

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.

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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.


Instructional Resources:

Required:

Economics Today: The Macro View plus MyEconLab plus eBook 1-semester Student Access Kit, 17/E (Pearson/Prentice Hall, 2013)

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, PearsonMyLab, 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 PearsonMyLab site.

You can buy the eBook and PearsonMyLab 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, even the 16th or 15th edition. However, you need to be careful here, because in all probability you will not receive an access kit that has not been used. So, if you do buy used, you will most likely still need to buy access to PearsonMyLab. Instructions on how to do this can also be found below.

 

WHERE TO PURCHASE:

  1. ACC Bookstores.

    If the ACC bookstore at the campus nearest you does not carry this text, it can have it sent over from the main ACC bookstore. The main ACC Bookstore is located at 817 W. 12th Street. This is near the Rio Grande Campus. Its telephone number is (512) 474-2704. You can order the text on-line through the ACC Bookstore by visiting http://austincc.bkstore.com.

    This textbook can be purchased on-line also. Of course, used books are unlikely to have an access code for PearsonMyLab,  so that will have to be purchased separately. If you do buy your copy on-line, be sure to do so at least two weeks in advance of the start of the semester. Students in previous semesters have told me that their on-line orders are very slow to arrive.

 

  1. If you wouldn't mind using just the eBook (no hard copy), you can buy access to the eBook when you sign up on-line for PearsonMyLab. The eBook will contain exactly the same material as the hardcopy of the textbook available in the bookstore.

 

  1. Finally, for those of you who have purchased a used textbook without an access code for PearsonMyLab, you may purchase access to PearsonMyLab alone.

 

Whichever option you choose, you will need to regsiter at http://www.pearsonmylab.com/Be ready with following:

    1.  the title of the text
    2. my name, Brown
    3. either your access code from your new text or a credit card to pay for access 
    4. our course ID. You will find this on our Blackboard site.
    5. a user name and password. If you have used the system before, you may continue using your old name and password.
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PearsonMyLab--Student Features:

 

Students benefit when they arrive for class confident and prepared. PearsonMyLab 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.

      I.         Personalized Study Plan

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.

     II.         Unlimited Practice

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.

   III.         Learning Resources

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. PearsonMyLab has a suite of graphing tools for practice and current news articles that tie chapter topics to everyday issues.

   IV.         Test and Other Assignments

PearsonMyLab 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.

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Recommended Study Method:

As a student you should:

  1. Spend as much time studying for this non-traditional course as you would have spent if you had registered for this course in its traditional lecture format - going to lectures and doing homework. This translates into about 12 hours a week for this 16 week course.
  2. Not procrastinate, and you should not cram for exams. Set up a regular study schedule for this course and stick to it!
  3. Read the Learning Objectives listed on Blackboard under Course Documents. The learning objectives listed in the textbook at the beginning of each online chapter are more general than those composed by the instructor. The instructor's learning objectives will be correlated to the examination questions.
  4. Study the assigned textbook material. This includes the "Issues and Applications" sections found at the end of most chapters.
  5. Complete the Study Plan and relevant Sample Test over the chapter you are studying. Re-study the material you were weak on.
  6. Go to the Study Plan again and take the second Sample Test for the chapter. Once again re-study the material you are still weak on.
  7. Do all of the Homework for the chapter you are studying. This Homework is graded but can be taken over and over again until you get it right.
  8. Take the relevant Quiz for that chapter after you feel comfortable with the material the chapter covers.
  9. Take the four midterm exams and the final by their assigned deadlines.

 

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Learning Objectives:

The examinations in this course are based on learning objectives composed by the instructor that you can find on Blackboard under Course Documents. Read these objectives carefully before you read the corresponding chapter in the textbook and do the activities on the textbook's ebook web site. The learning objectives are correlated exactly with the questions on the exams and are more detailed than the ones that can be found under "objectives" in the textbook's web site. 

In general, after studying each chapter, you should be able to:

  1. List what topics the questions on the exams will cover.
  2. Define all the key terms introduced in the chapter and review the "what you should know" section at the end of the chapter.
  3. Answer questions in the Sample Tests in PearsonMyLab.
  4. Successfully complete the Homework Assignment over the chapter in PearsonMyLab.
  5. Take the Quiz over the chapter assigned in PearsonMyLab by your instructor.

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. 

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Reading

Reading the textbook thoroughly is the key to doing well in this Distance Learning course. Distance Learning courses have no lectures to help you understand the material being covered. You must rely almost completely on the textbook to help you understand the material. This is why reading, and re-reading the text is so essential.

I recommend that you take these steps in reading each chapter.

Step One: Skim the chapter. Spend three to five seconds looking over each page of the chapter.

Step Two: Quickly read over the chapter again reading only the title of the chapter, the learning objectives, all the headings and sub-headings in the chapter, all the words in bold print, and all the words in the left column of each page in the chapter.

Step Three: Read the introduction of the chapter, the first paragraph of each section or subsection in the chapter and the first sentence of all of the other paragraphs in the section or subsection. Finally read the summary of the chapter.

Step Four: Without referring back to the chapter make a list of all the important concepts, terms, ideas, theories, and laws that you can remember.

Step Five:  Read the introduction, the learning objectives, and the summary of the chapter in the "end-of-chapter" section of the textbook.

Step Six: Revise and improve your list and then use it to make the outline/map of the chapter.

Step Seven: Read the chapter in the text completely and thoroughly.

Step Eight: Revise and improve your outline/map once again. This time add the key terms to the appropriate places in your outline/map if they had been included before this time.

Step Nine: Complete a Study Plan for the chapter in PearsonMyLab.

Step Ten: Revise your outline/map one more time.

Step Eleven: Review your outline/map every four or five days until the exam and then use it to prepare for the exam.

If you read your textbook in this structured and disciplined way, you will learn much more than if you approach your reading task in an unorganized manner, and you will do much better on the exams than you would otherwise do.

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Free Tutoring:

There is a "free" tutoring on-line site available to students for this course. It is provided through a third party and is called "Smarthinking." It is available to all distance learning students at the college and, truth be told, to all students at the college.

 

ACC has contracted with Smarthinking.com to provide students at ACC, in particular Open Campus students, with free on-line turtoring. Five hours of free tutoring are available to each student. Additional hours must be paid for by the student receiving the tutoring.

 

To register, log into ACC's Blackboard site. Once you are logged in, click on the "My ACC" tab in the upper left corner of the page. In the left most column, you will see a link to Smarthinking. Click it to register and get started.

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Testing:

Exams are based on the Learning Objectives students are expected to master. 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.

 

The midterm/unit exams will be administered over the internet through the course's Blackboard site. 

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 midterm 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.

 

Please note: Students will not be able to access Exam 2 until Exam 1 is passed with a grade of 70% or better. Students will not be able to access Exam 3 until Exam 2 is passed with a grade of 65% or better.

 

The instructor reserves to right to drop from the class any student who has not passed Exam 1 by the last day of the semester to drop classes. The reason for this policy is that students who either have that much difficulty with the material or who fall that far behind rarely finish the class well. IÕd rather give you a ÔWÕ than an ÔF.Õ

 

If you are having trouble passing an exam, please contact the instructor for help. ThatÕs what IÕm here for.

 

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.

 

All exams will be available on Blackboard until the last week of the semester. Be sure to make note of the exact dates listed on Blackboard.

Contact the instructor if you are unable to take any of the exams by the listed date.

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 any ACC Testing Centers. You will have the results immediately.

 

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, then questions over Chapter 2. You will find no questions over the chapters skipped in this course.

 

Students will be allowed to bring with them a 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.

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PearsonMyLab Homework and Quizzes:

PearsonMyLab.com is the online study guide which accompanies our Miller text. 25% of your grade, 1000 points, will come from PearsonMyLab Homework and Quizzes. PearsonMyLab is required, not optional.

PearsonMyLab has four types of assignments:

  1. Study Plan: These are ungraded practice questions. You will be given 3 tries, then the system will tell you the correct answer. When you finish, the system will tell you which sections of the chapter you need to focus your study time on.

Each question will have a panel of helps to the left of the window. These "helps" include

    1. Guided Solution - takes you step by step to the correct answer
    2. Teach Me gives you the information you need to answer correctly
    3. eText takes you to the page of the text where the information covered by the question is presented
    4. Graphing - allows you to draw yourself a graph of the question
    5. Ask My Instructor - emails the question to me, so I can help you with it

 

  1. Homework: These are graded question sets, set up like the Study Plan sets. Homework assignments are worth about 360 points, 8.33%, of the course grade.
    "Helps" are available on Homework assignments, and students will be able to take these assignments over and over again until they get them right.

Once the deadline for the homework has passed, you may still work on it, but there will be a late penalty of 1% per day for all work completed after the due date.

 

  1. Quizzes: These are graded assignment sets worth about twice as much as the Homework sets, 667 points, 16.67%, of the course grade.
    No helps are available on quizzes, but you will be able to review the graded questions after their due date has passed.
    You will only be allowed three tries on the quizzes. Once you begin the quiz, you will not be able to leave it and come back later to finish.

Once the deadline for quizzes has passed, you will not be able to take the quiz for credit.

 

   IV.         Extra Credit Tests: There are three chapters in the text not covered on the exams. 100 point tests over these chapters are available on PearsonMyLab for extra credit. Please note: You must

score at least 70% on the test to receive credit for it, so please study the chapter before taking the test.

 

The Results page will give you your scores on each assignment, as well as your overall average.
Please note: The system sometimes locks up and kicks the student out of a quiz. If this should happen to you, I can easily allow you access to the quiz to try again. However, the original deadlines will still hold. This means that if you are doing the quiz the evening it is due and you are unable to complete it, I will not be able to help you regain access to the quiz.

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Grading:

Grading is based on the total number of possible points available on the exams and the required PearsonMyLab 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

 

Getting Started with MyEconLab

=

 

=

40 X 10

=

 

=

  400

 

    40

 

PearsonMyLab Homework

=

          16 x 20

=

  320

 

PearsonMyLab Quizzes

=

          16 x 40

=

  640

 

Final Exam

=

50 X 28

=

 1400

 

Total Possible Points

 

 

 

 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

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Extra Credit Points:

There are two ways to for students to improve their grades by earning extra credit points.


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 find these deadlines, as well as details on which chapters each test covers, on Blackboard.

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 PearsonMyLab Homework & Quizzes.


 

Extra Credit Type 2: Taking PearsonMyLab Tests on the unassigned chapters of the textbook.:

Several chapters in the test are not assigned and will not be covered on any mid-term exam on Blackboard or on the Final Exam. However small tests over most of these chapters will be made available on PearsonMyLab. Each of these tests will be worth 100 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.

 


 

Extra Credit Type 3: Taking the Mandatory Orientation Quiz on Blackboard:  This short quiz is just an incentive to read this syllabus carefully. ItÕs worth 20 points.

 

 

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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.


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.

Please be sure to check on the ACC academic calendar or the assignments page of our Blackboard for the last day to withdraw from the course.


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.

Safety Statement: Austin Community College is committed to providing a safe and healthy environment for study and work. You are expected to learn and comply with ACC environmental, health and safety procedures and agree to follow ACC safety policies. Additional information on these can be found at http://www.austincc.edu/ehs.

Because some health and safety circumstances are beyond our control, we ask that you become familiar with the Emergency Procedures poster and Campus Safety Plan map in each classroom. Additional information about emergency procedures and how to sign up for ACC Emergency Alerts to be notified in the event of a serious emergency can be found at http://www.austincc.edu/emergency/.

Please note, you are expected to conduct yourself professionally with respect and courtesy to all. Anyone who thoughtlessly or intentionally jeopardizes the health or safety of another individual will be immediately dismissed from the dayÕs activity, may be withdrawn from the class, and/or barred from attending future activities.

 

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