Austin Community College
Department of Economics
ECON 2301
Principles of Macroeconomics
Name: Shirin Murrassa-I-Khuda
Course Name: Principles of Macroeconomics
Course Number: ECON 2301
Section Number: 043
Synonym: 37479
Class Hours: MTWTh 8:00-9:50 am
Office
Hours: TTh 9:50-10:20 am
Office: Room 1712,
Vista Ridge High School.
Special
office hours: Room 1104, Adjunct Faculty Offices, Bldg 1000,
Austin Community College, Cypress Creek, 1555
Cypress Creek Rd, Cedar Park, Texas, 78613. Only by appointment*.
Office
Phone: 223-1790 Ext 26443. Please call 223-8132, leave a message with Rachel and
she will contact me if you need to leave me an urgent message.
Email: smurrass@austincc.edu
Website: http://www.austincc.edu/smurrass/
Course
Description:
Principles
of Macroeconomics deals with consumers as a whole, producers as a whole, the
effects of Fiscal Policy (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.
This
course will teach you macroeconomics, problems in an economy and tools to
manipulate the economy. This class will help you to develop and improve your analytical,
problem solving, writing skills and team work.
Textbook:
Required: Macroeconomics,
by Roger A. Arnold, 8th Edition (South-Western
College Publishing, 2008). ISBN
0324538030
Study Guide (Optional)
Back Ground Requirements for Students:
Microeconomics or
Economics knowledge regarding demand/Supply, Resources, Scarcity, Opportunity
Cost, Production Possibilities Frontier is a plus for this class. If you do not
have prior economics knowledge then read Chapter 1, Appendix A of Chapter 1, Chapter
2, Chapter 3 on your own. This will enable you to understand topics taught in
the class better. Required MS Word
Knowledge to type your research paper. MS Excel to make graphs for your
research paper/group presentation. (Knowledge of copy and paste graph or table
from Excel to Word). Basic Math and statistics understanding is a plus for this
class. (Simple algebraic equation and how variables sign changes when they
change side. Understanding the concept of percentage.)
Course
Rationale:
This
course is meant to give students insights into the dynamics of our national
economy. The knowledge gained in the
course will make students better informed citizen 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.
Common
Course Objectives/Student Outcomes as established by the economics department.
Students
who complete this course will be able to understand:
-the
meaning of unemployment and inflation data and how the data is collected and
computed;
-the
meaning and components of the Nation Income Accounts, especially GDP;
-the
meaning of 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 systems works;
-how
monetary policy operates, its tools, and its advantages and drawbacks.
Instructional
Methodology:
The
instructional methodology involves lectures and discussion. I will use Power
Point slides white board and internet for instructions. Please read your
assigned chapter before each class. There will be in class work (2 person team
work). Reading the assigned chapter prior to the class will help greatly in
understanding, grasping well the concepts, issues as well as solving problems
both in and out of the class room for the course. I will assign homework from “Questions and
Problems” and “Working with numbers and graphs” section. Class participation is
highly encouraged. Feel free to ask questions in class. If you have questions outside
of class and office hours, please email me with your problem. I will schedule a
time to meet with you at Cypress Creek Adjunct Faculty Offices, Room 1104.
Student Requirements:
Calculator,
Textbook, Pen, Pencil, Eraser for In Class assignments, and Exams. Students are
required to submit homework in a separate handwritten/typed sheet. Research
paper should be typed. Homework, and Research Paper should be submitted on the
dates assigned in the class schedule. You are responsible to collect your homework
assignments on the given date in class. If you miss a class, please collect it
from either your class mates or email me that you did not get it and I will
forward you the homework assignment. Don’t miss submitting homework(s), in
class(es), exam(s), and research paper as there is no makeup. You are
responsible for turning your In class, Homework, Exam and Research paper to me.
You will sign in a “sign in sheet” for each in my class list when you turn in
these things to me in class.
Course
Evaluation/Grading System:
There will be three Exams, three
Homeworks, three In Class works and a Research paper during the semester.
Besides, the research paper everything else will be based on the lectures, text
book, in class work and other handouts given in the class. Research paper will
be based on the concepts discussed in the class, research papers at the library
research, excel spreadsheet and additional research by the students. In class
work will be done in a group of two students in class. One group needs to submit
one in class work with their names listed on top. There
will be no makeup homework, in class work, research paper or exam. Only present
student in class will form groups of three to work together on in class work. There will not be any make up in class
works. Only under special
circumstances makeup exams can be taken later or before than the specified exam
day. Special arrangements have to be made with me depending on the time of the
issue's occurrence. If you are sick and cannot take the exam on the day of the
exam, you would need a “doctor’s note”
and “receipt of the visit” as documentation. I will arrange for a
makeup test for you at a later date that works for you (late exam have to be
taken within next two class days of the previous exam). However, the questions
on the exam might be different than one taken on the exam day by other
students. If you want to take the exam earlier then contact me and tell me the
reason and document it and I will arrange an earlier exam for you. If you are
planning on taking an exam earlier, please let me know at least two weeks
before your early exam day so I can prepare a special test for you. Late homework
assignment will not be accepted. Every student in the class earns 1% extra
credit point for their overall academic good behaviors during the semester. Only if they are having behavioral
issues I will not assign them the extra credit 1% with their grades.
Research paper topic---
“Compare current economic crisis of the
United States of America with Great Depression (similarities and
dissimilarities in cause and solution). Please give arguments for/against the
solution provided by the current government and state your solution to the
problem”.
Cypress
Creek Library: Check Cypress Creek Library Reserve for articles: either
*
search by instructor- Murrassa-I-Khuda, Shirin
http://alicat.austincc.edu/search/p
*
search by course: Econ 2301
http://alicat.austincc.edu/search/r
Library
Location: 1555 Cypress Creek Rd Cedar Park, TX 78613 Phone: 223-2030
Library
Hours: http://library.austincc.edu/loc/
4
categories in Reserve: 2 hours checkout/copier
Grading
Points Distribution Tables
|
Grade on |
Numbers |
Points Each |
Total Possible Points |
Average |
Grade Percentage |
|
Exams |
3 |
100 |
300 |
300/3 = 100 |
75% |
|
Homework |
3 |
25 |
75 |
75/3=25 |
10% |
|
In Class work |
3* |
10 |
30 |
30/3=10 |
10% |
|
Research Paper |
1 |
10 |
10 |
10/1=10 |
5% |
Exams
will be mixture of multiple choice, True/False and Fill in the Gaps, Questions with
short answers, graphs, and math problems. Exam questions are based on
Lectures-Class Handouts of the Chapters, In Class Works, Homeworks, and
relevant chapters from the Textbook for each exam.
Homework will be assigned from the textbook’s “Questions and Problems” and “Working
with numbers and graphs” section. I will
provide the homeworks in class. If you miss a class and do not have the
homework please email me so I can send you a copy of the homework.
*In class work
might be more depending on our progress and per class need. In class work will
be done in groups of two students. Each group will turn in one in class group
work with the group members name listed at the top. Absent students will miss in class work.
Extra
Credit Points Distribution Tables
|
Grade on |
Points |
Points |
Grade Percentage |
||
|
Class Participation |
1 |
Ask questions, participates in class
discussion/ in class work |
1% |
|
|
|
Overall Behavior |
1 |
No misbehavior for the course reported
during the semester |
1% |
|
|
|
Group Presentation* |
5 |
Content (2), Well Researched (2),
Presentation Style (1), Points = 5 |
3% |
|
|
Group Presentation will be done in Groups of 2 Persons. Topic and Groups need
to be finalized by 7/2/09.
Grading
System
A 90 - 100
B 80 - 89
C 70 - 79
D 60 - 69
F Below 60
Course
outline/Calendar:
Tentative Class Schedule
|
Date |
Day |
Lecture |
Chapter Titles |
|
6/8/09 |
M |
Syllabus, Course overview
and Background evaluation |
|
|
6/9/09 |
T |
Lecture on Chapter 6,
Homework I on chapter 5,6 |
Macroeconomic
Measurements Part II: GDP and Real GDP |
|
6/10/09 |
W |
Lecture on Chapter 6-5 |
Macroeconomic
Measurements Part II: GDP and Real GDP, Macroeconomic Measurements Part I:
Prices and Unemployment |
|
6/11/09 |
Th |
Lecture on Chapter 5-7 |
Macroeconomic
Measurements Part I: Prices and Unemployment , Aggregate Demand and Aggregate
Supply |
|
6/15/09 |
M |
Lecture 7, Homework I
due, Homework I Review |
Aggregate Demand and
Aggregate Supply |
|
6/16/09 |
T |
Lecture 7 |
Aggregate Demand and
Aggregate Supply |
|
6/17/09 |
W |
Exam I |
Chapter 5, 6, 7 |
|
6/18/09 |
Th |
Lecture on 8 |
Self Regulating
Economy |
|
6/22/09 |
M |
Lecture on 8-9 |
Self Regulating
Economy, Economic Instability: A Critique of Self Regulating Economy |
|
6/23/09 |
T |
Lecture on 9-10,
Homework II on chapter 10,13 |
Economic Instability: A
Critique of Self Regulating Economy, The Federal Budget and Fiscal Policy |
|
6/24/09 |
W |
Lecture 10, Part 12,
Chapter 13 |
The Federal Budget and
Fiscal Policy, Money and the Economy |
|
6/25/09 |
Th |
Lecture 13 |
Money and the Economy |
|
6/29/09 |
M |
Lecture 13, Homework
II due |
Money and the Economy |
|
6/30/09 |
T |
Exam II |
Chapter 8, 9, 10, 13 |
|
7/1/09 |
W |
Lecture 14, |
Monetary Policy |
|
7/2/09 |
Th |
Lecture on 14-15,
Homework III on 15,16, Presentation groups finalized* |
Monetary Policy, Expectations
Theory and the Economy |
|
7/6/09 |
M |
Lecture on 15 |
Expectations Theory
and the Economy |
|
7/7/09 |
T |
Lecture 15-16, |
Expectations Theory
and the Economy, Economic Growth |
|
7/8/09 |
W |
Lecture 16, Research
Paper Discussion |
Economic Growth, Great
Depression and Economic Crisis |
|
7/9/09 |
Th |
Lecture 20, Homework
III due |
Stocks, Bonds, Futures
and Options |
|
7/13/09 |
M |
Lecture 20, Research
Paper due, Class Presentation |
Stocks, Bonds, Futures
and Options |
|
7/14/09 |
T |
Exam III |
Chapter 14, 15, 16, 20 |
Exam Schedule
EXAM I: June 17, 2009
EXAM II: June 30, 2009
EXAM III: July 14, 2009
Course Policies--
Class
Policy:
No electronic
device allowed in class. No texting, ipod, iphone, or playing video games or any
other kind of games or watching movies during normal class hour. Please turn
your cell phones on vibration mode and if you need to take the call, please go
outside and take the call. If you are late, try not to disturb the class when
you enter. You will need a calculator to solve class problems; please do not
use the cell phone calculator as I will not allow that in test or to solve in
class problems also. I expect you to know Internet browsing, if not let me know
in the first class. You will find Internet to be a good resource for you
research paper. You will need to visit library to read economic articles that I
put on reserve for the class. Paul Krugman’s “Return
of Depression Economics” is recommended
for the paper and available at library reserve.
I want to
remind you that you will be taught, graded and assessed as a college Student
and not a High School Student. All the policies applicable to the course, class
and grading are college level. Even if
you are taking this course in a High School Class, you are actually in ACC's
Early College Program. This course will pave your way to college and give you a
better understanding of the teaching environment and policies.
Teaching
Assistance
If you are
having problems with the class, please see me with your concern before it gets
too late in the semester. You can see me during my office hours or email me or
leave a message at my voice mail or with Rachel. I will meet with you in the
Adjunct Faculty Offices of ACC located at Cypress Creek, Building 1000, Room1104.
(To park your car at ACC campus at Cypress Creek, you would need a “Visitor”
parking permit from campus police located on building 2000.) However, if you
are having problems with other things beyond my control, you need to withdraw
from the course rather than get an undesired grade at the end of the semester.
Academic
Freedom
Everyone is
encouraged to participate in class discussions. Differing viewpoints breathe
enrichment of knowledge and generate new learning experience and may result in
new theories for the future. Please participate in discussions and make the
class lively with your thoughts and ideas.
Attendance
Please attend
the lectures.
Incomplete
I will not
give you an incomplete grade. So if you are having problems please withdraw before
the withdrawal date yourself. Please do not wait till after the date is passed.
If any major
incidence happens after the withdrawal date and you cannot continue with the
class, please document the incidence and show me. To get an incomplete, you have to fill out an
incomplete form and give it to me. Without filling the form an incomplete
grades will not be given.
Please
read the following note about withdrawals.
Withdrawals
Students
are responsible for withdrawing themselves from this course. I will assign you the grade you make in the
class including the extra credits, even if it is a "F" grade.
Withdrawal Policy of Fall 2007 states
that entering freshman is 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 is
July 7, 2009.
Scholastic
Dishonesty
Acts prohibited by the college for which
discipline may be administered include scholastic dishonesty, including but not
limited to cheating on exam or quiz, plagiarizing, 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.
Class
Communication Tool
At the end of the first class, please provide me with your valid email
address. I will send you MS Excel data file via email attachment. Email will be
class communication tool. You are encouraged to provide your telephone number
so that you can be informed in special cases.
Class
Handouts
I will provide you all with copies of class lecture at the beginning of
each class. In Class work and Exams and Homework I will also distribute in
class.
Grades
Your letter grades will be posted in blackboard after completion of the
classes. If you need to check your grades earlier, please check with me in
class or send me an email.