INSTRUCTOR: MICHAEL C. PETROWSKY, MA, MBA, MPA, M.Ed
Professor of Economics
SOCIAL & BEHAVIORAL SCIENCES
OFFICE: ROOM 1204.17 (ROUND ROCK CAMPUS)
TELEPHONE: 512 - 223 - 0078
EMAIL:
OFFICE
HOURS: Mon/Wed: 1:30 PM – 2:30 PM
4:30 PM – 5:30 PM
Tues/Thurs: 12:00 PM – 1:00 PM
Friday: As requested
NOTE: Conferences outside of office hours can be
arranged.
2.
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 monetary policy carried out by the Federal Reserve. Macroeconomics is concerned with unemployment, inflation, and the business cycle.
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 GDP.
· how to manipulate the basic Aggregate Supply, Aggregate Demand model of
the macro economy.
· how a fractional reserve banking system works.
· how monetary policy operates; its tools, and its advantages/drawbacks.
COURSE RATIONALE: This course is meant to give students insight into the dynamics
of the 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. The course also provides a foundation that will prepare
students to be successful in upper division finance, marketing, business administration,
economics, government, and social work courses.
INSTRUCTOR PHILOSOPHY:
1. State and local governments are the customer.
2. Merit based. Grades are earned by the student, not given by the instructor.
Intentions, motives are not important – only behavior and performance.
3. Attendance is expected since the course is heavily subsidized by state and county
tax dollars.
4. “I say what I mean, I mean what I say.”
5. With proper focus and discipline, everyone can master economic principles.
INSTRUCTIONAL METHODOLOGY: Principally lecture/discussion, with
Socratic underpinnings. Some films may be shown; some emphasis on
problems/applications. Some group work where appropriate.
HOW TO BEST USE YOUR INSTRUCTOR:
1. Identify those specific areas in the text and/or lectures you find confusing.
2. Bring those items to me for assistance. Your office visit is welcomed!
REQUIRED TEXTBOOKS AND MATERIALS:
1.
Macroeconomics, by Roger Arnold, 10th
Edition. This must be purchased and
used in order to pass the course.
2.
Five
scantron sheets. (882-E). Available in bookstore. No.2 pencil, eraser.
RECOMMENDED MATERIALS:
1. Two or three colored pencils and a ruler.
2. MACROECONOMICS, Bar Chart, Academic Outline
3. Barron’s EZ-101 Study Keys; Cliffs Quick Review; REA Super Review
4. STUDY GUIDE FOR THE TEXT HIGHLY RECOMMENDED. OR,
5. Use of Arnold text web site at www.swcollege.com/bef/arnold/arnold.html
for learning resources and on line quizzes.
There are five in class unit exams in the course. Each exam will consist of approximately 35 multiple choice questions, will take approximately 75 minutes, and will be based on class and textbook material. Because of this, class attendance is critical for successful course completion. Exams are open book, open notes.
* First Exam Chapters 1, 2, 3
* Second Exam: Chapters 6, 7
* Third Exam: Chapters 8, 9
* Fourth Exam: Chapters 10, 11
* Fifth Exam Chapters 12, 13, 14, 15
1. EXAMS. Students must take at least four exams in order to receive a grade for the course. One of these four exams must be the fifth exam. If students take the first four exams, the lowest score on one of the first 4 exams will be dropped. Because of this, no make up exams are given and no retakes are allowed. In addition, THERE IS NO EXTRA CREDIT WORK IN THIS COURSE. During exam periods, all electronic devices, including cell phones, are to be put away. Students will be given at least a week's notice before an exam is given.
2. PROBLEMS. There are five assigned problem sets in this course. Each
problem set counts for 30 points. Problems are due on scheduled dates, with students’
being given at least a week’s notice. Problems submitted after the scheduled
due date, i.e., during the scheduled class hour, will receive a one letter
grade reduction. Problems will not be accepted after solutions have been placed
on the board or distributed. Submitted papers should be clearly labeled and
stapled with all work shown. These problems should be completed without help or
assistance from other students; see the section on scholastic dishonesty. The
assigned problem sets are:
1.
Supply & Demand: Chapter 3, page 83, problems 7 and
23.
2.
Unemployment: Chapter 6, page 131, problems 6 and 7.
GDP: Chapter 7, page 151, problems 1 and 7.
3. AD/AS Model: Chapter 8, page 181, problems 3 and 4; chapter 9, page 203, problems 1 and 2.
4. Keynesian Economics: Chapter 10, pp. 230-231, problems 1, 3, 7, 8.
5. Money & Banking: Chapter 12, page 268 problems 1, 4. Chapter 13, page 284, problems 2 and 4.
ATTENDANCE POLICY
Class attendance is expected and roll will be taken. Absences are limited to twice the number of times the class meets per week. ( Example: If the class meets twice per week, you are allowed four absences; if it meets once per week, you are allowed two absences.) One absence in excess of this amount will result in a five percent final grade reduction for the course. Two absences in excess of this amount will result in a letter grade reduction for the course. Three or more absences in excess of the requirement will result in a “W” grade for the course. A telephone call or an email is not an excused absence. Students are also expected to be on time for class. Students that are chronically late may be asked to either withdraw from the class or to make other arrangements. If a student leaves before the class is over, it will be treated as an absence. Please note: For students that register late, these first week absences count as well. Thus, if you missed classes the first week, these are counted as absences for purposes of this course.
EARLY COLLEGE START
Due to FERPA (the Family Educational Rights and Privacy Act), the instructor cannot release a student’s academic information to anyone, even parents, without the student’s written consent.
College course content, standards, attendance policies, and scheduling are not modified to accommodate high school students.
OFFICE FOR STUDENTS WITH DISABILITIES
Every reasonable effort will be made to accommodate disabled students. 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.
MAKE UP EXAMS
As previously indicated, there are no makeup exams in this course because only three exam scores will be counted in the final grade in addition to the quizzes. No retakes are allowed.
TUTORING
Each ACC campus has Learning Labs along with tutoring. Students are encouraged to use this service.
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 including problems and practice sets.
WITHDRAWALS
If you decide to drop the class, remember that it is your responsibility to complete all
necessary forms with the Registrar. Failure to do this could
result in
failing grade for the course. New, Incoming Students: Please be aware of
the new state requirement governing withdrawals as well the deadline for withdrawals. The last date to withdraw is November 17, 2011.
SYLLABUS REVISION
Every attempt will be made to follow the course outline and requirements. Should time be a problem, some material and requirements may be omitted.
CLASSWORK
1. The assignments for the entire semester are indicated on the “Course Outline.” You should complete the study of the assigned material before coming to class.
2. It is suggested that you read each chapter three times. Assignments assume a minimum of 6 to 9 hours of preparation per week.
3. Many
of
4. See
the attachment, “12 Things You Can Do to Successfully Complete this Economics
Principles Course.”
GRADING SCALE AND SYSTEM
TASK POINTS
Three Unit Exams, 100 Points Each 300
Fifth Exam (Chapters 12 -15) 150
Five problem sets 150
TOTAL POSSIBLE POINTS EQUALS 600 points
POINTS EARNED GRADE PERCENTILE
546 to 600 A 91 -100
486 to 545 B 81 – 90.99
402 to 485 C 67 – 80.99
330 to 401 D 55 – 66.99
Below 330 F
NOTE: These grading scales will be strictly implemented. For example, 323 points is a
“C” grade. Because the class is merit based, total points, and total points alone,
will determine the final grade. The final grade may be lowered because of
excessive absences and lateness. There is no extra credit in this course.
INCOMPLETE (“I”)
GRADES
Given only under exceptional circumstances and at the total discretion of the instructor. An “I”
grade may only be given if (1) the student was passing with at least a “C” grade, (2), an emergency occurred, (3), 80 percent of the course work has been completed, and (4),
if because of the documented emergency a student was unable to complete all of the objectives for a passing grade in the course. An “I” grade cannot be carried beyond the established date in the following semester. The completion date is determined by the instructor but may not be later than the final withdrawal deadline in the subsequent semester. An I grade that is not resolved by the deadline will be converted to an “F” grade.
WEB SITE HELP
Your textbook has a
web site that contains worked problems, interactive graphs and problems.
Students are urged
to take these self tests, for they are a great exam prep tool.
CELL PHONES & LAPTOPS
Cell phones must be
turned off at the beginning of class and put away and off the desks. Students can use lap tops as long as the lap
top is being used to record notes. STUDENTS THAT ABUSE THE USE OF LAPTOPS AND
CELLPHONES WILL BE ASKED TO LEAVE THE CLASS.
COURSE OUTLINE
Week Beginning Assignment Topic
August 22 Definition of Economics
August 29 Chapters 1, 2 Production Possibilities
September 5 Chapter 3 Demand & Supply
September 12 Chapter 6 Inflation & Unemployment
September 19 Chapter 7 Gross Domestic Product
September 26 Chapter 8 AD/AS
October 3 Chapter 9 Classical Theory
October 10 Chapter 10 Keynesian Theory
October 17 Chapter 10 Keynesian Theory
October 24 Chapter 11 Fiscal Policy
October 31 Chapter 12 Money & Banking
November 7 Chapter 13-14 The Federal Reserve
November 14 Chapter 14 Monetarism
November 21 Chapter 14-15 Monetary Policy
November 28 Chapter 15 Monetary Policy
December 5 Chapter 15 Summary/Fifth Exam*
* The fifth exam is given on the last day of class. There are no exceptions.
·
For those students who need their final grade
quickly: On final exam day, if you give me a stamped, self-addressed postcard,
I will send
· The Fifth Exam is final – there are no retakes under any circumstances.
Michael C. Petrowsky
Faculty, Economics
STUDENT
CONTRACT – ECONOMICS 2301
I have received the syllabus for the course Principles of Macroeconomics. Course
requirements were explained. The instructor also explained the requirements concerning
grading standards, attendance, class participation, makeup exams, and course reading
obligations. I understand that my successful completion of this course (that is, an A,B or C
grade) will normally require consistent, timely, classroom attendance as well as a minimum of
6 to 9 hours of preparation per week. I thus realize the study time requirements for the course
with the knowledge that work and other outside obligations are not an excuse. I further
understand that excessive absence, lateness, abuse of laptops and cellphones, and scholastic
dishonesty can result in the instructor withdrawing me from the class and/or in my receiving a
failing (‘F”) grade for the course. I also understand that the current textbook is required and is
essential for my successful completion of the course.
_____________________ _______________
Printed Student Name DATE
_____________________
Signature
_____________________ _________________
Section TIME
STUDENT RECORD FOR ECONOMICS 2301
SECOND EXAM _________________
THIRD EXAM _________________
FOURTH EXAM _________________
FIFTH EXAM _____________________
PROBLEM SET 1 _____________________
PROBLEM SET 2 _____________________
PROBLEM SET 3 _____________________
PROBLEM SET 4 _____________________
PROBLEM SET 5 _____________________
TOTAL POINTS*** ____________
NOTE: It is the student’s responsibility to keep test and homework records for the
duration of the course.
*** Points will be reduced if attendance requirements are not met.
TWELVE THINGS YOU CAN DO TO SUCCESSFULLY
COMPLETE
THIS ECONOMICS COURSE
“The 12 Step Program for Course Success”