Austin Community College

Department of Economics

Course Number: ECON 2301

Principles of Macroeconomics

 

Instructor: Shirin Murrassa-I-Khuda

Course Name: Principles of Macroeconomics

Section Number: 002, Synonym: 22901

Class Hours: Th 7:05 - 9:45 pm, Class Room: 2231, Campus: CYP, Building: 2000.

Office Hours: Th 6:25 pm – 6:55 pm, Room 1104, Building: 1000, Adjunct faculty office.

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. Email is the best way to reach me.

Website: http://www.austincc.edu/smurrass/

Blackboard: Go to http://www.austincc.edu/ and click on blackboard option on the left of the screen to login to blackboard.  Username is first letter of your first name and your ACCeID after that.  Password and ACC email is listed in the registration documents for this class. Check http://www.austincc.edu/acceid/faq.php for ACCeID and Password related questions.  If you need additional help with login to Blackboard call help desk at 223-4357 during regular office hours.  At any point in time, if you have problem in accessing blackboard contact help desk and get it fixed.  If it does not get fixed, please email me about the issue.  

 

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 skills and team work.

 

Textbook: Required: Macroeconomics, by Roger A. Arnold, 9th Edition (South-Western College Publishing, 2008).  ISBN 032478550X, Study Guide (Optional) 0324785534

 

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 discussions.  I will use Power Point slides, white board, Blackboard academic software and internet sites, videos and tutorials for instructions.   

 

Recommendation to students: Please read the assigned chapter before each class.  Class participation is highly encouraged.  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 Adjunct Faculty Offices, Room 1104, Bldg: 1000, Cypress campus of Austin Community College.

 

Student Requirements: Textbook, Pen, Pencil, Eraser, Calculator for In Class assignments, and Exams.  Scantron for Exams.  You are responsible for downloading selected problem solution, in class work solutions from blackboard.  If you cannot access those please email me at:smurrass@austincc.edu.  Don’t miss in class(es), exam(s), as there is NO MAKEUP.  You are responsible for turning your In classes, and exams to me.  You will sign in a “sign in sheet” for each when you turn in these things to me in class. Please provide me with your contact information:  secondary email (other than acc email), and valid telephone number where I can reach you under special circumstances.

 

Course Evaluation/Grading System: There will be 3 Exams, 3 In Class works. There will be no makeup in class work, or exam.  Only under special circumstances makeup exams can be taken later or earlier than the specified day. To take makeup exams 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” 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 with the exception of the final exam.  Final exams can only be taken earlier. No late finals accepted).  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.  For early exams, please let me know at least two weeks before you plan to take the exam so I can prepare a special exam for you. 

 

Exams will have extra credit point section at the end.  Students who have full attendance in my roster will earn 5 extra credit points automatically at the end of the semester.

 

Grading Points Distribution Table 

Grade on

Numbers

Points Each

Total Possible Points

Average

Grade Percentage

Exams

3

100

300

300/3 = 100

80%

In Class work

3

10

30

30/3=10

20%

 

Exam will be multiple choice questions and extra credit section will comprise of short answers.  Exams are closed book and notes.  Exams will be based on lectures, slides, in class works and textbook, selected problems from the back of the chapters and other handouts given in the class.

 

 In class work will be done in groups of two students in the class unannounced.  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. In class work requires both the group member’s active participation in solving the problems and completing work. (If one member leaves class earlier leaving incomplete in class work with partner completing the rest on his/her own and turns it in for grading, then the team member that left earlier will be graded on the basis of his/her incomplete work and the other team member who completes it will receive the credit for the completed work.  I will mark the questions as completed when the student leaves early without completing the full in class work problems.  There will be variation in grading for team mates, if and when such cases arise.) There will be three in class work during the semester.

 

Extra Credit Points Distribution Table

Grade on

Points

Points

Points

Points

Points

Points

Grade Percentage

Attendance

5 for full attendance

4 for one missed class

3 for two classes missed

2 for three classes missed

1 for fourth missed class

0 for fifth missed class

5%

 

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

1/20

Th

Part I:Syllabus, Course overview and Background evaluation

Part II: Chapter 1

What Economics is About

1/27

Th

Part I and Part II: Chapter 3

Supply and Demand: Theory

2/3

Th

Part I and II: Chapter 6

 Macroeconomic Measurements: Part  II: GDP and Real GDP

2/10

Th

Part I: Chapter 5, Part II: Chapter 7

Macroeconomic Measurements: Part  I: Prices and Unemployment, Aggregate Demand and Supply

2/17

Th

Part I: Chapter 7, Part II: Exam I review

Aggregate Demand and Aggregate Supply

2/24

Th

Chapter 7,  remaining parts of chapter 6, Exam review, Part II: Chapter 8

Aggregate Demand and Aggregate Supply , Macroeconomic Measurements: Part  II: GDP and Real GDP,The Self-Regulating Economy

3/3

Th

Part I: Exam I (Chapters 1, 3, 5, 6, 7), Part II: Chapter 8

The Self-Regulating Economy

3/10

Th

Part I: Chapter 8, Part II: Chapter 9

The Self-Regulating Economy, Economic Instability: A Critique of The Self-Regulating Economy

3/17

Th

Spring Break

3/24

Th

Part I: Chapter 9, Part II: Chapter 10

Economic Instability: A Critique of The Self-Regulating Economy, Fiscal Policy and The Federal Budget

3/31

Th

Part I: Chapter 10, Part II: Chapter 11

Fiscal Policy and The Federal Budget,  Money and Banking

4/7

Th

Part I: Chapter 11, Part II: Chapter 12, Exam II Review

Money and Banking,  The Federal Reserve System

4/14

Th

Part I: Exam II  (Chapter 8,  9, 10, 11) Part II: Chapter 12

The Federal Reserve System

4/21

Th

Part I: Chapter 13, Part II:Chapter 13

 Money and The Economy

4/28

Th

Part I: Chapter 14, Part II: Chapter 14

Monetary Policy

5/5

Th

Part I: Chapter 16, Part II: Chapter 16

Economic Growth

5/12

Th

Exam III (Chapters  12, 13, 14, 16)

Last day of class

 

Exam Schedule

EXAM I:  Mar 3

EXAM  II:   Apr 14

EXAM III: May 12

 

Course Policies—

Class Policy

No electronic device allowed in class. No texting, ipod or playing video games or any other kind of games or watching movies or internet browsing 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; I do not allow cell phone calculators in the exams. When signing in attendance sheet, only sign for yourself.  Any violation to this rule will be considered as misdemeanor act.

 

Teaching Assistance

If you are having problems with the class, please see me at my designated office hours or email me your concerns.  Please get in touch with me before it gets too late in the semester.  I highly recommend that you stay focused on the course and seek help to get you through the semester rather than getting a “D”, “F” or have to withdraw in the semester.  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.  Withdrawal date is April 25, 2011.

 

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

100% class attendance in my roster will earn you 5 extra credit points to push up your grade.  If you miss one class you will get 4 points, two classes you will get 3 points and three classes you will get 2 points and 4 classes you will get 1 point and 5 classes you will get 0 points as extra credit points.  I will do the attendance at the start of the class.  If you leave early you will be counted as absent from the class.  Students leaving early have to cross out their own name from the attendance sheet, write the time and reason for leaving early in the attendance sheet before leaving the class and provide valid documentation if they want to have class attendance point back. 

 

Incomplete

I will not give you an incomplete grade.  So if you are having problems please withdraw before the withdrawal date yourself.  Withdrawal date is April 25, 2011.

 

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 Withdrawal date is April 25, 2011.

Students who have missed 4 consecutive classes without a doctor’s note or a valid documented reason will be dropped from the course.  If you think, you have attendance problem, please talk to me or email me about your absence (and wish to return to class) before getting dropped.  Students with insufficient attendance missing 7 classes or more and/or submitted no in class work and/or and/or missed exam one or more exams will be dropped 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 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 Handouts

I will provide you all with copies of slide handouts at the beginning of each chapter lectures.  In Class work and Exams will be distributed in class.  Selected problem solutions and In class work Solution will be available at Blackboard.  If you cannot access it then email me at smurrass@austincc.edu. 

 

Grades

Your class grades for in class and exam will be available at blackboard after completion of each exam.  I will assign you a letter grade for the class at the end of the semester. Your grades will be posted in blackboard after completion of the classes.  If you need to check your grades earlier, please check with me during my office hours or send me an email.