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EC 141 Principles of Economics I (Macro)
Firner, Antoni


Park Vision/Mission Statement

Park University Vision

Park University will be a renowned international leader in providing innovative educational opportunities for learners within the global society.

Park University Mission

The mission of Park University, a entrepreneurial institution of learning, is to provide access to academic excellence which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community.

 
Course Description

A study of the contemporary American Economy; the role of investment, consumption, and government on income determination; and an analysis of the foreign sector.  Emphasis is on contemporary problems: unemployment, inflation, and growth.  3:0:3    

 
Overview and Course Goals

Welcome to Macroeconomics (EC 141), on line! This course provides a thorough introduction to the field of economics. This course focuses on the fundamental nature of economics, a study of choice, with economic concepts and the tools needed to be a successful leader in today's global economy. This course provides the student with an understanding of the market system, applicable to the public and private organizations.

Each week we'll focus on two to three chapters in our text, Macroeconomics by McConnell and Brue, Sixteenth Edition. The following is a general guide to our course but you will want to follow the specific instructions in each weekly module.

Week 1: Our objective is to understand economic terms and concepts. We will study the nature and method of economics, the economizing problem and review the construction and interpretation of graphs. The reading assignment for week 1 includes chapters 1 and 2 and the chapter 1 appendix in the text.

Week 2: We will take a look at competitive market models and the important concepts of supply and demand. The reading assignment includes chapters 3 and 4 in the text.

Week 3: We'll learn about important concepts in the United States Economy, both the public and the private sectors. Then we’ll consider the United States in the global economy. The reading assignment for this week includes chapters 5 and 6 in the text.

Week 4: We'll have a Mid Term Exam and learn about key economic concepts. Our topics are economic measurement tools and indices of economic activity as well as economic growth, inflation and unemployment. The midterm exam covers all course materials through chapter 8. The reading assignment are chapters 7 and 8 in the text. Also, your proctor forms are due to be in your instructor's hands this week.

Week 5: We address Keynesian and classical economic theories and the aggregate expenditures model. The reading assignment this week includes chapters 9 and 10 in the text.

Week 6: We consider governmental stabilization policies at work during the business cycle and an introduction to the United States banking system. The reading assignment this week is chapter 12 an 13 in the text.

Week 7: This week we will look at the creation of money by banking institutions and the mechanics of monetary policy. The reading assignment includes chapters 14 and 15 in the text.

Week 8: This will be a busy week. The policy at Park University is for each of you to take a significant, proctored exam during the Eighth week of the class. Unless you are more then two hours from the nearest Park site, you are expected to take the exam at one of the Park sites. We will also review current economic events using concepts that you have learned from the course. There is no additional reading assignment during week 8 but students are encourages to review chapters not assigned earlier in the course.

 
Core Learning Outcomes

1. Explain the process by which the equilibrium price and quantity of a good are attained using demand and supply analysis.

2. Use the circular flow model to explain why Gross Domestic Product can be measured either through the income or expenditures approach.

3. Use the aggregate demand-aggregate supply model to explain the causes and effects of cost-push inflation and demand-pull inflation.

4. Explain how the long-run aggregate supply curve differs from the short-run aggregate supply curve, including the causes in shifts for both of them.

5. Use the aggregate demand-aggregate supply model to explain the affects of expansionary and contractionary fiscal policy.

6. Use the aggregate demand-aggregate supply model to explain the impact of tight and easy monetary policy and discuss the Federal Reserve tools achieve them.

 

 
Required Texts/Materials

Textbook:  Macroeconomics, McConnell Brue, 16th Edition.  Soft cover with DVD, Discover Econ Online and Paul Solman videos.

Publisher: McGraw Hill/Irwin                

ISBN 007298272 1

NOTE the new Text Edition effective April 2004.  Students will require the DVD and access to the on-line Discoverecon website that is provided with a new textbook.

Wall Street Journal: The WSJ is an excellent reference for this course. It is available at most libraries, in many offices, and other places. While not required for this course, it will enhance your understanding immeasurably.

Hard copy subscriptions that include the online subscription are available to you as a student at special discounted rates. You can subscribe on-line. Click here to subscribe online! Following this link will let the WSJ folks know you are enrolled as a student in this online course. Delivery will start in a few days and they will bill you directly, usually within 3 or 4 weeks. 

 
Course Policies

Course-Specific Policies:

This course is offered on-line, over the Internet, using the University Online computer service. Students are expected to devote a minimum of five hours per class week logged on to the computer conferencing system - the same amount of time you'd spend in the physical classroom.

A class week is defined as the period of time between Monday and Sunday. The first week begins the first day of the semester and ends midnight on Sunday. Assignments scheduled for completion during a class week should be completed by the Sunday that ends the week. Writing assignments and projects/problems should be completed and successfully submitted so that they are in my hands on the due date. NOTE: Because this is an online course designed to get feedback on assignments to you directly via Internet, you must make prior arrangements with me before submitting a paper via fax or any non-Internet method. If you ever have problems transmitting your assignments to me, contact me immediately, and we'll get the problem solved.

Homework:  Weekly assignments must be submitted not later than the Sunday midnight that ends the week. Late homework will not receive full grade credit. Homework not turned by the due date, but which is turned in no more then 7 days late, will receive 1/2 the score it would have received otherwise. Homework not received within 7 days of the due date will not be scored. No work received after the last Saturday of the online term will be scored.

Mid Term Examination:  A Mid Term Examination will be admisistered during the fourth week of the class. It will be posted into the eCollege Campus and is to be completed individually and returned to the instructor via the eCollege testing system.

Comprehensive Examination:  A comprehensive examination must be taken in person at one of the Park University sites around the country or at an alternative location approved by the University and the instructor where Park University sites are not available. All Park sites are prepared to proctor exams and are the preferred choice. Unless you are more then two hours from a Park site, you are expected to use one of them to take your exam. (Exceptions will be carefully screened as per the directions I receive from the University. If your situation is exceptional, contact me before you submit your proctor form with details of your situation.)

  • For these proctored examinations, photo identification is required.
  • A proctor information form will be provided by Park at an address to be provided later.
  • If you are unable to make arrangements with someone who meets these criteria, contact the instructor for acceptable alternatives.
  • A proctor with email is much desired over one without email. Faxing and/or mailing are both relatively expensive, time consuming, and more prone to problems then email.

Instructor Response:  The Instructor will usually respond to your questions concerning the course within 48 hours of receipt.  Response is generally faster during the week and slower on the weekend.

Students are responsible for clicking on the link below and thoroughly reading each Online course policy.  If you have questions about any of these policies, please contact your instructor for clarification.

Online Course Policies

 
Grading Policy

The final course grade will be determined using the following measurements:

  • Homework Assignments
  • Mid Term Exam
  • Proctored Comprehensive Final Examination
  • Instructor evaluation/class participation which is made up of the following factors:
    1. Posting your introduction to the conference during the first week of the course.
    2. Weekly groupwork activities
    3. Weekly discussion activities 
    4. Having a completed, correct proctor form received and approved by the end of week 4. There will be a link to the proctor form provided in week 1.
    5. Attending class each week - meaning being active in the weekly projects.
    6. Other course related activities.

The following percentages will be used to assign course grades:

  • 90% - 100% = A
  • 80% - 89% = B
  • 70% - 79% = C
  • 60% - 69% = D
  • Below 60% = F

The work you do in this class is valued as follows:

  • Weekly Assignments                      28% of grade      2800 points                                                      
  • Mid Term Exam                              20% of grade      2000 points                                                     
  • Comprehensive Examination            30% of grade      3000 points
  • Weekly Groupwork                           8% of grade        800 points
  • Weekly Disicussions                        8% of grade        800 points
  • Weekly Quiz                                    6% of grade        600 points
  • TOTAL                                           100%               10000 points

Note that point deductions will be made for nonparticipation and absences.

Submission of Late Work:   Weekly work must be submitted not later than Sunday midnight of each week.  Late work will not receive full grade credit. Work not turned by the due date, but which is turned in no more then 7 days late, will receive 1/2 the score it would have received otherwise. Homework not received within 7 days of the due date will not be scored. No work received after the last Saturday of the term will be scored.

Proctored final examination:  A final proctored examination will be taken in a proctored testing environment during the 8th week at one of the Park University sites around the country or at an alternative location.  For proctored examinations, photo identification is required at the time of the test.  Guidelines for selecting an acceptable proctor can be found on the Park University Website.  Students who do not pass the proctored final examination will not pass the course.

  • Other Information on proctored exams:
    • It will be the responsibility of the student to arrange for a proctor, by the 6th week of the term, who is accepted and approved by the course instructor. Students will lose participation points for their grade if their proctor form is not accepted and approved by the end of week 4 of the course. 
    • Approval of proctors is the discretion of the Online instructor. 
    • A proctor request form will be made available to you during the first week of class so that you can send your requested proctor to your instructor for approval. 
    • Failure to take a final proctored exam (or submit your final project for some online graduate courses) will result in an automatic "F" grade.

Basis of Grades:

Grades for work in this course will be calculated based upon the following rubrics:

Groupwork Exercise Grading:

Content:

Excellent

Good

Fair

Poor

Fail

Research on Internet or similar

 

24-25 pts

 

20-23 pts

 

18-20 pts

 

15-18 pts

 

< 14 pts

Calculations and graphs shown and correct

 

24-25 pts

 

20 – 23 pts

 

 

18-20 pts

 

15-18 pts

 

<14 pts

Identify relationship between situation and text concepts

 

 

 

24-25 pts

 

 

 

20-23 pts

 

 

 

18-20 pts

 

 

 

15-18 pts

 

 

 

<14 pts

Answer all questions and clearly state conclusions

 

 

24-25 pts

 

 

20-23 pts

 

 

18-20 pts

 

 

15-18 pts

 

 

<14 pts

Total Points

90-100 pts

80 – 89 pts

70-79 pts

60-69 pts

< 60 pts

Discussion Activities Grading:

Content:

Excellent

Good

Fair

Poor

Fail

Select current news item that relates to weekly topic in Microeconomics 

 

 

18-20 pts

 

 

15-17 pts

 

 

12-15 pts

 

 

10-12 pts

 

 

<10 pts

Identify weekly text concepts that appear in article.

 

18-20 pts

 

15-17 pts

 

12-15 pts

 

10-12 pts

 

<10 pts

Calculations and graphs shown and correct

 

23-25 pts

 

20-22 pts

 

17-19 pts

 

15-16 pts

 

< 15 pts

Analysis and conclusions shown and correct.

 

23-25 pts

 

20-22 pts

 

17-19 pts

 

15-16 pts

 

< 15 pts

Respond to 3 postings of classmates

 

10 pts

 

8 pts

 

6 pts

 

4 pts

 

 0-2 pts

Total Points

90-100 pts

80 – 89 pts

70-79 pts

60-69 pts

< 60 pts

Weekly Homework Assignment Grading:

There are 400 points possible each week.  The number of questions will vary each week. The following rubric indicates how the questions are graded:

Content:

Excellent

Good

Fair

Poor

Fail

Identify weekly text concepts that appear in each question.

 

5 pts

 

4 pts

 

3 pts

 

2 pts

 

 0-1 pts

Calculations and graphs shown and correct in each answer.

 

33-35 pts

 

30-32 pts

 

27-29 pts

 

25-26 pts

 

< 25 pts

Analysis and conclusions shown, complete, and correct for each question asked.

 

43-45 pts

 

40-42 pts

 

37-39 pts

 

35-36 pts

 

< 35 pts

Indicate how conclusion can/will affect economy.

 

 

8-10 pts

 

 

5-7 pts

 

 

2-5 pts

 

 

1-2 pts

 

 

  0 pts

Paper is properly formatted in either *.doc or *.rtf and each question response is identified.

 

5 pts

 

4 pts

 

3 pts

 

2 pts

 

 0-1 pts

Total Points

90-100 pts

80 – 89 pts

70-79 pts

60-69 pts

< 60 pts

Examination Grading:

Examination question answers will be graded based upon agreement with the course text.  Essay, discussion, and similar type questions will be graded for completeness as well as for content.  The student should provide relevent calculations, economic charts and graphs for full credit. Completeness will follow the same factors as the grading for weekly homework as identified in the weekly assignment grading rubric above.


 
Academic Honesty

Academic Honesty

Academic integrity is the foundation of the academic community.  Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life. 

Definitions

Academic dishonesty includes committing or the attempt to commit cheating, plagiarism, falsifying academic records, and other acts intentionally designed to provide unfair advantage to the students.

  • Cheating includes, but is not limited to, intentionally giving or receiving unauthorized aid or notes on examinations, papers, laboratory reports, exercises, projects, or class assignments which are intended to be individually completed.  Cheating also includes the unauthorized copying of tests or any other deceit or fraud related to the student's academic conduct.
  • Plagiarism involves the use of quotation without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignments (any portion of such) prepared by another person, or incorrect paraphrasing.
  • Falsifying academic records includes, but is not limited to, altering grades or other academic records.
  • Other acts that constitute academic dishonesty include:
    • Stealing, manipulating, or interfering with an academic work of another student or faculty member.
    • Collusion with other students on work to be completed by one student.
    • Lying to or deceiving a faculty member.

Procedure

In the event of alleged academic dishonesty, an Academic Dishonesty Incident Report will be submitted to an Online Academic Director who will then investigate the charge.  Students who engage in academic dishonesty are subject to a range of disciplinary actions, from a failing grade on the assignment or activity in question to expulsion from Park UniversityPark University's academic honesty policy and related procedures can be found in full in the 2004-2005 Park University Undergraduate and Graduate Catalogs.

 
Attendance

Professors are required to keep attendance records and report absences throughout the term. Excused absences can be granted by the instructor for medical reasons, school sponsored activities, and employment-related demands including temporary duty. The student is responsible for completing all missed work.  Any student failing to attend class for two consecutive weeks, without an approved excuse from their instructor, will be administratively withdrawn and notified via email that you have been withdrawn and a grade of "WH" will be recorded.

An attendance report of "P" (present) will be recorded for students who have logged in to the Online classroom at least once during each week of the term.  PLEASE NOTE:  Recording of attendance is not equivalent to participation.  Participation grades will be assigned by each individual instructor according to the criteria in the Grading Policy section of the syllabus.

For more details on Park University on page 100 of the Park University Undergraduate Catalog or page 14 of the Park University Graduate Catalog.

 
Student Resources

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.

Park University Online Bookstore - Select "Distance Learning - Graduate," or "Distance Learning Internet," and then click on the appropriate course code (ex. AC 201, PA 501) to see the list of required and optional texts for each course that you are enrolled in. 

Advising - Park University would like to assist you in achieving your educational goals. Your Campus Center Administrator can provide advising to you, please contact them for assistance.  If you need contact information for your Campus Center, click here.

Online Tutoring Services - Park University has arranged for Online students to receive five hours of free access to Online tutoring and academic support through Smarthinking. If you would like Online tutoring, please contact me to receive their recommendation and information on how to access the Online tutoring.

Career Counseling - The Career Development Center (CDC) provides services for all stages of career development.  The mission of the CDC is to provide the career planning tools to ensure a lifetime of career success.

Online Classroom Technical Support - For technical assistance with the Online classroom, email helpdesk@parkonline.org or call the helpdesk at 866-301-PARK (7275).  To see the technical requirements for Online courses, please visit the http://parkonline.org website, and click on the "Technical Requirements" link, and click on "BROWSER Test" to see if your system is ready.

Park Helpdesk - If you have forgotten your OPEN ID or Password, or need assistance with your PirateMail account, please email helpdesk@park.edu or call 800-927-3024.