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EC 301 Intermediate Macroeconomics
Sumrall, William H.


Mission Statement: The mission of Park University, an 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.

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

Course

EC 301 Intermediate Macroeconomics

Semester

S2Y 2009 MN

Faculty

Sumrall, William H.

Title

Senior Professor

Degrees/Certificates

BA MS MBA EdS EdD Post Graduate Fellow in Economics and Business
Phi Kappa Phi; Omicron Delta Epsilon; Delata Pi Alpha; Omicron Delta Pi
Licensed Real Estate Broker

Office Location

NSA Midsouth

Office Hours

Before and After Class

Daytime Phone

662-292-2912 (CELL)

E-Mail

william.sumrall@park.edu

Semester Dates

March 16, 2009 to May 10, 2009

Class Days

-----F-March 20, 27; April 3, 10, 17, 24; May 1, 8.

Class Time

5:00 - 9:30 PM

Prerequisites

ec141

Credit Hours

3


Textbook:

Gordon. Macroeconomics, 11th edition, 2009, Addison-Wesley / Prentice Hall ISBN-10: 0321485513; ISBN-13: 9780321485519

Not Required, but recommended as references:

Hacker, Diana. Rules for Writers, (manual on APA Style.)

Soule, Intermediate Macroeconomics Supplement  (Hereinafter IMS) ISBN 007-   235019-9

Other online sources for the APA 5th edition style manual.


Additional Resources:
: Students are urged to read Wall Street Journal,The Economist, Fortune, Business Week and other relevant current events literature, some available in the Park library and be aware of T V and other national economic news sources.

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.
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.
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
Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.


Course Description:
EC301 Intermediate Macroeconomics: This course begins with a review of national income concepts including national income accounting. It analyzes fiscal and monetary policy using the ISLM model. The primary course focus is on the critical analysis of fiscal, monetary, new Keynesian, and new classical models and their success in explaining economic stability and the stimulation of economic growth. Prerequisite: EC141. 3:0:3

Educational Philosophy:
 

Individual and cooperative group learning style supported by direct instruction

Learning Outcomes:
  Core Learning Outcomes

  1. Explain the evolution of the monetarist and new classical theories.
  2. Describe how new-Keynesian theory justifies the Keynesian the Keynesian policy prescriptions.
  3. Explain the relationship between the government budget deficit and the trade deficit.
  4. Explain how national savings determines the trade deficit, not protectionism.
  5. Define supply-side economics and discuss how it explains the government spending deficit.
  6. Analyze graphically the AD-AS model, the Keynesian cross, and the IS-LM model. Identify all relevant curves and causes for shifts in the curves.


Core Assessment:
Write a paper analyzing the different approaches that might be used by Keynesian theorists and monetary theorists to promote long-run macroeconomic stability. Examine the impact of persistent budget deficits on the trade deficit and analyze the options available to policy makers when national savings presents opportunities to improve the trade deficit. Appraise the position of supply-side economists as it relates to government deficits. Evaluate recent national economic policies as they relate to the magnitude of the trade deficit and analyze the arguments for protectionist policies and the effect, if any, upon the trade deficit.

Link to Class Rubric

Class Assessment:

 (1) Final Essay Exam (30% or 180 points), (2) Term Paper (20% or 120 points), (3) Presentation (20% or 120 points),
(4) Weekly Topic Briefs (20% or 120 points), (5)Attendance (5% or 30 points) and, (6) Participation (5% or 30 points). Total 600 points

Grading:
 

:Incomplete grades will be assigned only due to unusual or emergency circumstances.  An incomplete must be completed by the end of the following semester. The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus. The semester grade will be calculated as a weighted average of the following 600 points (1) Final Essay Exam (30% or 180 points),
(2) Term Paper (20% or 120 points), (3) Presentation (20% or 120 points), (4) Weekly Topic Briefs (20% or 120 points), (5) Attendance (5% or 30 points), and (6) Participation (5% or 30 points)
 
The Final Exam will be written in class, completely independent with closed book and notes. Non-photo and non-memory calculator usage is allowed.

Participation credit (5%) requires the student complete the online course survey and print a copy of the completion page to be submitted with the final exam. 

The names of students absent on the first class meeting will be submitted to the campus director for course enrollment verification.

In the event of two consecutive weeks of unexcused absences in a term of enrollment, the student will be administratively withdrawn, resulting in a grade of "W".

There will be a 50% point reduction in the attendance and participation grade components for each unexcused absence. There will be a 50% point reduction in the attendance and participation grade components for each excused absence for which the instructor is not notified in advance and weekly topic briefs emailed before the class meeting date or as soon as possible thereafter. Students who anticipate more than three excused or more than two unexcused absences should withdraw from the course. At the end of the course, your accumulated points will be converted to a weighted average grade based on the following scale: 100-90=A; 89.9-80=B; 79.9-70=C; 69.9-60=D; Below 60=F     

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business and Management courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business and Management.

Late Submission of Course Materials:

Late submission of course materials due to an unexcused absence will be accepted, at the discretion of the instructor, with a significant point reduction. Students who are absent from class due to an excused reason must fulfill certain responsibilities to avoid a grade reduction. First, the instructor should be notified in advance of the absence, an email reminder is preferred. Second, weekly topic briefs emailed before the class meeting date or as soon as possible thereafter.    

Classroom Rules of Conduct:
See Park policy

Course Topic/Dates/Assignments:
 

WEEK ONE (March 20):Review of syllabus, introduction to course and, assignment of presentation topics; Assignment: instructor lecture, general class discussion, and written topic brief on core learning objective one and related text chapters.    

WEEK TWO (March 27): Instructor lecture, general class discussion, and written topic brief on core learning objective one and related text chapters. Assignment: presentation and general class discussion on core learning objective one and related text chapters. 

WEEK THREE (April 3):presentation and general class discussion on core learning objective one and related text chapters. Assignment: Instructor lecture and general class discussion, and written topic briefs on core learning objectives two, three and related text chapters. 

WEEK FOUR (April 10, possible Easter holiday): Instructor lecture, general class discussion, and written topic briefs on core learning objectives two, three and related text chapters; Assignment: presentation and general class discussion on core learning objectives two, three, and related text chapters.

WEEK FIVE (April 17): presentation and general class discussion on core learning objectives two, three, and related text chapters; Assignment: Instructor lecture, general class discussion, and written topic briefs on core learning objectives four, five, six and related text chapters.

WEEK SIX (April 24):   Instructor lecture, general class discussion, and written topic briefs on core learning objectives four, five, six, and related text chapters; Assignment: presentation and general class discussion on core learning objectives four, five, six, related text chapters, final review, and term paper open help session.

WEEK SEVEN (May 1, possible Labor Day holiday): presentation, general class discussion on core learning objectives four, five, six and related text chapters, final review, and term paper open help session. Assignment: Final Exam (In Class [Not Take Home], Closed Book, Closed Notes, and Weighted 30% of Semester Grade) Non-photo or non-memory calculators are permitted and Term Paper due.

WEEK EIGHT (May 8):Final Exam (with copy of online course survey completion page) and Term Paper due; End of Course

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.   Park University 2008-2009 Undergraduate Catalog Page 87

Plagiarism:
Plagiarism involves the use of quotations 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 assignment (any portion of such) prepared by another person, or incorrect paraphrasing. Park University 2008-2009 Undergraduate Catalog Page 87

Attendance Policy:
Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F".
  4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

Park University 2008-2009 Undergraduate Catalog Page 89-90

Disability Guidelines:
Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability .



Rubric

CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Evaluation: Judge the relative worth of information based on prior knowledge                                                                                                                                                                               
Outcomes
1, 3, 4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
Provided 5 or more comparisons regarding macroeconomic theoretical concepts and presented them in a logical manner. Provided 3 to 5 comparisons regarding macroeconomic theoretical concepts and presented them in a logical manner. Provided 1 to 3 comparisons regarding macroeconomic theoretical concepts. Provided no economic comparisons regarding macroeconomic theoretical concepts. 
Synthesis: Incorporate parts of an issue to arrive at an appropriate solution.                                                                                                                                                                             
Outcomes
2, 3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
Applied detailed course content to answer the question and presented the steps in a logical manner. Applied adequate course content to answer the question and presented the steps in a logical manner. Applied minimal course content to answer the question. Applied no course content to answer the question. 
Analysis: The ability to understand the component parts of information and its organization                                                                                                                                                                
Outcomes
2, 3, 4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
Identified  at least 5 theoretical components and flawlessly analyzed macroeconomic concepts from the course content to answer the question. Identified 3 to 5 theoretical components and adequately analyzed macroeconomic concepts from the course content to answer the question. Identified 1 to 3  theoretical components and minimally analyzed macroeconomic concepts from the course content to answer the question. Did not identify any theoretical components and provided no analysis of macroeconomic concepts to answer the question. 
Application: Use principles from the discipline as they relate to the Core Learning Outcomes.                                                                                                                                                              
Outcomes
2, 3, 4, 5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
Exhibits thorough knowledge of the course content in the use of macroeconomic principles to answer the question. Exhibits moderate knowledge of the course content in the use of macroeconomic principles to answer the question. Exhibits minimal knowledge of the course content in the use of macroeconomic principles to answer the question. Exhibits no evidence of knowledge of the course content. 
Content of Communication: Grammar, punctuation, spelling, typing, sentence structure, and readability                                                                                                                                                      
Outcomes
Park Mission Statement: communicate effectively                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
Exhibits excellent command of grammar, punctuation, spelling, typing, sentence structure, and readability.

0 to 5 errors

 
Exhibits good   command of grammar, punctuation, spelling, typing, sentence structure,
and readability.

6 to 10 errors

 
Exhibits adequate command of grammar, punctuation, spelling, typing, sentence structure,
and readability.

11 to 15 errors

 
Exhibits minimal
command of grammar, punctuation, spelling, typing, sentence structure, and readability.

More than 15 errors

 
Technical Skill in Communicating: format items to include adherence to MLA standards, paper length, Works Cited, and internal documentation.                                                                                                               
Outcomes
Park Mission Statement: communicate effectively                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
0 to 3 errors 4 to 7 errors 8 to 10 errors More than 10 errors 
Disciplinary Competence: appropriate use of terminology.                                                                                                                                                                                                   
Outcomes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Uses terminology flawlessly to compose responses to questions.

No more than 3 errors
 
Uses terminology adequately to compose responses to questions.

No more than 7 errors
 
Uses terminology minimally to compose responses to question.

No more than 10 errors
 
Uses no terminology to compose responses to question.

More than 10 errors
 
Disciplinary Competence: appropriate use of data.                                                                                                                                                                                                          
Outcomes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Incorporates the use of data flawlessly, when appropriate, to compose responses to questions. Incorporates the use of data adequately, when appropriate, to compose responses to questions. Incorporates the use of data minimally, when appropriate, to compose responses to questions.
 
Uses no data to compose responses to questions. 

Copyright:

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Last Updated:2/16/2009 4:38:33 PM