ECON 2301
Instructor: James Sondgeroth
FALL 2017
August 28 - December 17
NOTE: Before you buy the textbook for this course read the following carefully.
I will be using the 12th edition of Arnold's Macroeconomics WITH CENGAGE APLIA
which is an on-line Study Guide and homework site. Homework will be assigned
on CENGAGE APLIA and will count a significant percentage of your
grade.
1. An eText with APLIA is available at the APLIA website for around
$120.
2. A loose leaf package, non-bound, with printed Cengage Mindlinks Access code
is available at the ACC bookstore for around $172 + Tax. This will give you
access tot he eText also.
3. If you buy a new or used version of the text on-line or in the bookstore without an APLIA access code,
you will still need to buy access to Cengage APLIA for $120.
4. If you buy a previous edition of the textbook, I do have the table of contents
for the 9th edition, 10th edition, and 11th edition posted on the course's ACC
Blackboard site so that you can correlate the chapters of the 9th, 10th, and 11th with
the chapters in the 12th. This will be much cheaper, but you will still need
to buy access to Cengage Mindlinks for $120.
Finally, on a completely different subject, this syllabus may undergo minor
changes up to the first day of the semester. The syllabus as it stands on the
first day of the semester will be the final arbiter of all questions about the
course, its assignments, its due dates, and its grading methodology. Small changes
to the syllabus as it now stands might be made before the first of the semester.
If you download this syllabus a substantial time before the beginning of the
semester, I encourage you to check back to see if there have been any changes,
such as deadline changes or grading changes, the first few days of class.
| Incompletes | |
| Withdrawals | Academic Freedom |
| Extra Credit | Students with Disabilities |
| ACC email | ACC Safty Statement |
Office: MTW
Rio Grande Campus(RGC)/1209 Rio Grande St 78701/Attache Bldg.
Rm. 212
RGC Phone: 512-223-3390
The purpose of this course is to familiarize the student with the generally accepted principles of macroeconomics. Macroeconomics is concerned with such things as, economic growth, unemployment, inflation, and the business cycle. Though ultimately based on the actions of individual households and business firms (microeconomics), macroeconomics deals with aggregates--i.e., consumers as a whole, producers as a whole, exporters and importers as a whole, fiscal policy --the effects of government spending and taxation, and the monetary policy of the central bank.
The course is subdivided into several major areas as follows: (1) microeconomic foundation; (2) national income accounting; (3) growth; (4) inflation; (5) unemployment; (6) money and banking; (7) international trade and the exchange rate; (8) the business cycle; (9) national income determination with the effects of fiscal and monetary policy included; (10) an explanation of our current situation.
Course Description, Rationale, and Common Course Objectives/Student Outcomes
as established by the economics department:
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:
- 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;
- 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.
|
|
Macroeconomics,
(with Videos, eText, & Printed Access Card), 12th Edition, by Roger
A. Arnold (South-Western College Publishing, 2015) Textbook ISBN-978813305617421 If you are waiting for your copy of the textbook to be delivered to you or you don't have the money to buy it immediatedly, you can register for Arnold's eText through Aplia without paying immediately and use it for around 21 days. In approximately three weeks, on February 7, you will need to pay for access. |
| Aplia is an interactive, on-line Study Guide and
Homework Assignment platform which includes an eText of the Arnold textbook. Students can only register for Aplia through the course's ACC Blackboard site. Instructions on how to register or purchase access to Aplia can be found HERE. Aplia has a grace period. If you choose to pay later, you may register for and use Apia through February 7without paying. |
The lecture topics/questions upon which the exams will be based will function as broad learning objectives for this course.
These lecture topics/learning objectives can be found by clicking here.
All of the multiple-choice questions found on the on-line exams will center about the same list of topical questions. The instructor will hand out the list of questions at the beginning of each segement of the course. Each segment will cover 14 to 18 of these questions. The instructor has composed a pool of 10 to 40 questions over each question. The on-line exams will randomly draw from 1 to 3 questions from each of these pools. As such, these questions will constitute learning objectives of this course.
Regular attendance is expected. Frequent exposure to an instructor's explanations is an important factor in a student's ability to master the material covered. (Here is a scatter graph of the correlation between attendance and grades: http://www.austincc.edu/sondg/images/graphs/attendance.PNG.) I will reward students who attend frequently by awarding them extra credit points. These extra credit points will equal up to 5% of the course grade. If a student misses more than 5 classes, these extra credit points will turn negative: in other words, points will be deducted from your overall grade. See the section on Extra Credit Points below.
Using cell phones, laptops, or tablets in class for personal reasons is prohibited, because using them is disruptive to the learning process and is disrespectful to your fellow students and your instructor.
If you find it to be helpful, you may use your phone to record lectures – but please ask me for permission to do so first. If you do use a cell phone to record lectures, lay them on your desk and do not handle them during class. Otherwise cell phones must be put on silent or airplane mode and put away and off your desk.
You may use your laptop or tablet to take notes, but please ask my permission before you do so. Laptops and tablets may ONLY be used for note taking. Students who use them for this purpose must sit in the front row(s) of class.
STUDENTS THAT ABUSE THE USE OF LAPTOPS, TABLETS, AND CELLPHONES WILL BE ASKED TO LEAVE THE CLASS.
Blackboard is an on-line classroom management tool. It includes a grade book, a discussion board, ways to communicate between students and between students and professor, and a testing facility.
Instructions on how to log into this course's Blackboard site can be found at http://itdl.austincc.edu/blackboard/stlogin.htm.
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.
Pre-Test:We will start the semester with an on-line pre-test which will be available on the course's ACC Blackboard site.
There will be twenty questions on this pre-test.
Students will receive 10 Extra Credit points for taking this pre-test.
It must be taken before midnight on the second day of class.Three Midterm Multiple-Choice Exams:There will be three cumulative, midterm, multiple choice exams, and also three cumulative essay exams. There will be no comprehensive final exam. This is because the cumulative nature of the objective mid-term and essay exams will go some way toward meeting the objective of a comprehensive final exam.
The three midterm multiple-choice exams will consist of between 50 and 70 questions. These exams will be administered on-line through the course's Blackboard site. They will not be administered during class. Students may take them at home if they like. These exams will be timed. The multiple choice questions on these exams will be directly correlated to the essay questions/learning objectives handed out in class and available on the Internet and will also contain questions from the Chapter Reading Quizzes (see below for more information on these quizzes).
The first on-line midterm objective/multiple-choice exam will consist of 50 questions worth 2 points apiece for a total of 100 possible points. The time limit on this exam will be 50 minutes.
The second on-line midterm objective/multiple-choice exam will consist of 60 questions worth 2 points apiece for a total of 120 possible points. It is a cumulative exam. This means that it will cover material from the first exam in addition to the material covered since the first exam. The time limit on this exam will be 60 minutes.
The third on-line midterm objective/multiple-choice exam will consist of 70 questions worth 2 points apiece for a total of 140 possible points. It is a cumulative exam. This means that it will cover material from the first and second exam in addition to the material covered since the second exam. The time limit on this exam will be 70 minutes.
Students must take them by the deadlines set in the "Tentative Lecturing Schedule.
The three essay exams will be based on the essay questions/learning objectives that will be handed out well before the exams; these questions are available on the Internet from the very beginning of the semester. There will be anywhere from 14 to 16 questions on these handouts. On examination day I will randomly select anywhere from 2 to 4 questions from the handout, and these questions will constitute the essay exam.
For the essay exams, students will be allowed to use one sheet (8.5 X 11) of paper with handwritten notes on both sides of the sheet. These notes must be turned in with the exam. If you would like to use these notes when taking the on-line, multiple-choice exam after you take the in class essay exam, then please make photo copies of them. These notes will be worth up to 10 extra credit points depending on how thorough I judge them to be. I will turn these notes back with the graded exams. You may use the notes for Exam 1 again on Exams 2 and 3 and the notes for Exam 2 on Exam 3.
The essay exams will be administered in class.
A Blue Book must be used for the essay part of the exam. If there is enough room in the Blue Book, it may be used for all midterm essay exams. If you have never used a Blue Book, please click HERE to see what one looks like. Blue Books can be purchased in the ACC Book Store.
Each essay question will be worth 40 points. So the first Essay Exam will be worth 80 points, the second Essay Exam will be worth 120 points, and the third Essay Exam will be worth 160 points.
Grading Rubric for Essay Questions:
40 points--excellent answer with a novel example or observation that illustrates the answer;
37,38, or 39 points--somewhere between 40 and 36;
36 points--Excellent answer without any illustrating example or observation;
33, 34, or 35 points--somewhere between 36 and 32;
32 points--Very good answer but missing some minor ideas or terms;
29, 30, or 31 points--somewhere between 32 and 28;
28 points--Good answer by missing some major ideas or terms;
25, 26, or 27 points--somewhere between 28 and 24;
24 points--an answer that has the general idea but is missing important concepts and ideas;
21, 22, and 23--somewhere between 24 and 20;
20 points--an answer that is entirely incorrect;
17,18, and 19 points--somewhere between 20 and 16;
16 points--entirely incorret but is trying to cover lack of knowledge with a torrent of words;
1 through 15--based entirely on the whim of the professor.Summary of Exams weight in course:
Altogether the three cumulative, midterm, objective/multiple-choice, on-line exams will be worth 360 points or 36% of the grade..
And altogether the cumulative Essay Exams will also be worth 360 points, or 36% of the grade.
Totaling both the multiple-choice exams and the essay exams together gives us 720 points, or 72% of the course grade.
SCHECULED DATES for Essay Exams & Deadlines for On-Line Multiple Choice Exams:
Essay Exams On-line Multiple Choice Exams Exam 1 October 4 in class October 9 before Noon on Blackboard Exam 2 November 8 in class November 13 before noon on Blackboard Exam 3 December 13 in class December 15 before Noon on Blackboard
- Aplia homework assignments (and maybe a few on-line experiments):
A major part of your grade will be earned by completing the graded homework assignment on Aplia.com. Students will actually log into Aplia through Blackboard, not Aplia.com.Aplia is an interactive, on-line Study Guide and Homework Assignment platform which includes an eText of the Arnold textbook.
THIS PART OF THE COURE WILL BE WORTH 180 POINTS, OR 18% OF THE COURSE GRADE.
Instructions on how to register or purchase access to Aplia, as well as the Access Code needed, can be found here: http://www.austincc.edu/sondg/Aplia/Macro/2016-2017/12thEdSpringEcon2301.pdf
If you choose to pay later, you may use Apia through September 18 without paying.
The number of points Aplia assigns to its problem sets greatly exceeds 180 points. In the past few semesters it has averaged around 750 points. I will take the percentage of Aplia points you have answered correctly and multiply that times 200 points to get the points I will record in the course's ACC Blackboard gradebook. The number of Aplia points could vary through the semester. This will mostly depend on how many market experiments the class does during the semester. Note that the number of points the instructor will multiply your Aplia average by will not vary; it will stay constant at 180 points. EXAMPLE: A student has earned 680 points on Aplia out of the 750 possible. That is 90.67% of the points possible on Aplia. (90.67%)*(180) = 163.2 points. 163.2 points will be recorded in the course's Blackbook gradebook for this student.
- Economics Department Discipline Assessment Assignment:
This assignment is worth 100 points, or 10%, of course grade in extra credit points. 100/1000 = 10%.
One of the program's broad learning objectives is to acquaint students to some of the more important measures of macroeconomic performance. Specifically the Consumer Price Index and its importance in measuring inflation, the Unemployment Rate, Employment-Population Ratio, Real GDP, and Real GDP per capita in measuring the performance of the national economy.
This assignment asks students to find data on these measures on government web sites and to show graphs of them along with the data. Finally the assignment asks students to interpret the data and graph they have produced by writing a short essay describing what you see in the data and graphs and explaining what is happening in the US economy.
Here are to statistical series you will be looking for to complete this assignment:
1) CPI with Inflation Rate from one year earlier (monthly-data and graph);
2) Unemployment rate (monthly-data and graph);
3) Employment-Population ratio (monthly- data and graph);
4) Nominal GDP and Real GDP(quarterly-- data and graph);
5) Real GDP per capita index value to 100 (just the graph).
Specifically you will need to find data on each going back 69 years (from1948 to the present), to show this data in a table, and to show a graph of the data.
This assignment will require you to know:
--how to find the data on various government web sites:
--how to down load the data;
--how to graph the data you have found;
--and how to write a summary of what the graphs and data show.
The sets of data and their related graphs will be worth 50% of the grade, or 50 points.
The short essay will also be worth 50% of this grade, or 50 points.
Please use the textbook, handouts, PowerPoints, and lecture material to help you understand how to complete this assignment.
A detailed explanation on how to find the data and to use the St. Louis Federal Reserve Data (FRED) resourse for the graphs is included in the Discipline Assessment Cycle Statistical Series link in the left navigation column of this course's ACC Blackboard site.
The assignment will be due on Wednesday, November 15. Please use the Blackboard to submit the assignment: Go to Discipline Assessment Cycle Statistical Series Assignment and attach your documents there.
- Chapter Reading Quizzes
There will be 13 on-line, multiple-choice quizzes available on Blackboard under Chapter Reading Quizzes. These quizzes will be based on the material covered in the chapters assigned this semester.
Each quiz will contain 10 multiple-choice questions worth one point each. Each quiz will be worth 10 points.
These quizzes will not be part of the grade. They are provided soley for practice, so you can test your comprehension of the reading material. They will remain available through the last day of the semester.
You will be allowed unlimited attempts on each of these quizzes.
The pools of questions that these quizzes are drawn from will also be used on the On-Line Mid-Term Exams which are part of your grade.
There are 1000 points available all together. The three objective/multiple-choice midterm exams will be worth a total of 360 points. The three essay exams will also be worth a total of 360 points. Assignments from Aplia will be worth 180 points. Finally the departmental Discipline Assessment Assignment will be worth 100 points.
Final letter grades will be distributed according to the following scale:
| Letter Grade | Points | Percent |
| A | 1000-900 | [100-90%] |
| B | 899-800 | (90-80%] |
| C | 799-650 | (80-65%] |
| D | 649-550 | (65-55%] |
| F | 549-0 | (55-0%] |
EXTRA CREDIT: The assignments in the first week of class orienting students to the course can be worth up to 30 points: the information sheet is worth 10 points, the Syllabus Quiz is worth up to 10 extra credit points; and completion of the Pre-Test is worth 10 extra credit points if they are completed before midnight of the second class day of the semester. The handwritten notes allowed on each of the three exams can be worth up to 10 extra credit points each if each is submitted with the exam they were prepared for; there is a possible 30 extra credit points from this source. Finally up to 50 extra credit points can be earned by regularly attending class. This all adds up to a generous 110 extra credit points available, or 11% of the course grade.
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 the first two exams with a C or better. The student must also come by my office to fill out an incomplete 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 four weeks before the end of the semester. Please read the following note about withdrawals.
The instructor will withdraw students who have four absences.
Outside that circumstance, students are responsible for withdrawing themselves from this course if that is what their personal situation requires. This means that if you have taken no tests or only a few of the tests and the semester ends without you 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 except for excessive absenses (four or more).
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 are 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 without penalty is Monday, November 27.
There are three ways to earn extra credit in this course. It is advisable to take advantage of every one of them. They are:
The assignments connected to the first week of class orientation can be worth up to 30 points: the information sheet is worth 10 points, the Syllabus Quiz is worth up to 10 points; and completion of the Pre-Test is worth 10 points if they are completed before midnight of the second class day of the semester. All three can be completed on Blackboard.
- Up to 10 extra points can be earned from handwritten notes you prepare for each essay exam, 30 points in all. See the explanation above under Testing.
Points in addition to the maximum points possible from exams, homework assignments, and the data project are available through good attendance. Each student will start with 60 extra credit points for attendance. Each absence will reduce these extra credit points by a number of points as shown in the table below:
absence 0 1st 2nd 3rd 4th 5th 6th* 7th* 8th* 9th* 10th* points deducted for absence 0 0 5 6 11 17 28 45 73 118 191 total extra credit points remaining 50 50 45 39 28 11 -17 -62 -135 -253 -444 * As you can see, if you miss more than five classes, your bonus points will go into the negative and will be subtracted from the points you have earned from exams and homework. But more importantly, six or more absences will make a student subject to withdrawal without notice.
|
Week No. |
CHAPTER/ASSIGNMENTS |
|
1 |
Introduction and Chapter 1 and Appendix A |
|
2 |
Chapter 2 |
|
3 |
Chapter 3 |
|
4 |
Chapter 4 |
|
5 |
Chapter 6 started |
|
6 |
Chapter 6 continued on Monday |
|
7 |
Chapter 7 |
|
8 |
Chapter 8 |
|
9 |
Chapter 6 |
|
10 |
Chapter 10 |
|
11 |
Chapter 10 continued on Monday |
|
12 |
Chapter 11 |
|
13 |
Chapter 12 |
|
14 |
Chapter 13 |
|
15 |
Chapter 14 |
|
16 |
Chapter 14 continued on Monday. |
| Essay Exams | On-line Multiple Choice Exams | |
| Exam 1 | October 4 in class | October 9 before Noon on Blackboard |
| Exam 2 | November 8 in class | November 13 before noon on Blackboard |
| Exam 3 | December 13 in class | December 15 before Noon on Blackboard |
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 disabilities. Students
with disabilities who need classroom, academic or other accommodations must
request them through the office of Student Accessibility Services (SAS). Students
are encouraged to request accommodations when they register for courses or at
least three weeks before the start of the semester, otherwise the provision
of accommodations may be delayed. Students who have received approval for accommodations
from SAS for this course must provide the instructor with the ‘Notice of Approved
Accommodations’ from SAS before accommodations will be provided. Arrangements
for academic accommodations can only be made after the instructor receives the
‘Notice of Approved Accommodations’ from the student. Students with approved
accommodations are encouraged to submit the ‘Notice of Approved Accommodations’
to the instructor at the beginning of the semester because a reasonable amount
of time may be needed to prepare and arrange for the accommodations. Additional
information about Student Accessibility Services is available at http://www.austincc.edu/sas.
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.
Safty 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 dismissed from the day’s activity, may be withdrawn from the class, and/or barred from attending future activities.
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 day’s activity, may be withdrawn from the class, and/or barred from attending future activities.
Safty Statement: All College e-mail communication to students will be sent solely to the student’s ACCmail account, with the expectation that such communications will be read in a timely fashion. ACC will send important information and will notify you of any college related emergencies using this account. Students should only expect to receive email communication from their instructor using this account. Likewise, students should use their ACCmail account when communicating with instructors and staff. Instructions for activating an ACCmail account can be found at http://www.austincc.edu/accmail/index.php.
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