Syllabus Entrance
Printer Friendly
Email Syllabus

EC 141 Principles of Economics I (Macro)
Hiestand, Thomas W.


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 141 Principles of Economics I (Macro)

Semester

S1T 2006 DLA

Faculty

Hiestand, Thomas W.

Title

Senior Professor of Economics

Degrees/Certificates

B.A. Math and Economics, Luther College
Ph.D. Econmics, Kansas State University

Office Hours

9:00 - 10:00 p.m. Monday - Friday and Evenings on Sunday

Other Phone

Evening phone number  701.232.3055

E-Mail

thomas.hiestand@park.edu

thiestand@cableone.net

Semester Dates

01/09/2009 to 03/05/2006

Class Days

TBA

Class Time

TBA

Credit Hours

3


Textbook:
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.

Textbooks can be purchased though the MBS bookstore


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

Educational Philosophy:
My educational philosophy is one of interactiveness based on lectures, readings, quizzes, dialogues, examinations, internet, videos, web sites and writings. I will try to engage each learner in what is referred to as disputatious learning to encourage the lively exploration of ideas, issues and contradictions.

Learning Outcomes:
  Core Learning Outcomes

  1. Graph supply and demand in a single graph, define basic items or concepts related to the graph, and use the graph to explain the process by which a good's equilibrium price and quantity are attained.
  2. Graph the short-run aggregate demand-aggregate supply model (assuming the economy is in the expansionary phase of the business cycle) in a single graph and define basic items or concepts related to the graph.  Define cost-push inflation and demand-pull inflation.  Use the graph to identify shifts in the AD/AS curves reflecting the two types of inflation, and identify subsequent changes in the price-level and real output.
  3. Define expansionary and contractionary fiscal policies, including the means by which they are achieved.   Use the graph of the aggregate demand-aggregate supply model drawn in Learning Outcome #2 to identify shifts in the AD/AS curves and subsequent impacts of these policies on real output and the price level.
  4. Define tight and easy monetary policies, including the Federal Reserve tools used to achieve them and when each type of policy would be appropriate.  Use the graph of the aggregate demand-aggregate supply model drawn in Learning Outcome #2 to identify shifts in the AD/AS curves and subsequent impacts of these policies on real output and the price level.
  5. Use the circular flow model to explain why Gross Domestic Product can be measured either through the income or expenditures approach.


Core Assessment:

All Park University courses must include a core assessment that measures the course Learning Outcomes.  The purpose of this assessment is to determine if expectations have been met concerning mastery of learning outcomes across all instructional modalities.  For this course, the core assessment is a final exam to be administered in all sections of EC 141.  The exam is NOT OPEN BOOK.  It is worth 20 percent of the student's final grade and will test students' mastery of four core learning outcomes (Learning Outcomes 1, 2, 3, and 4 listed on this syllabus) through definitions, short essay, and graphing questions.  For each core learning outcome, the student should be prepared to draw the relevant graph, define basic concepts or policies, identify relevant shifts in the curves, and state final impacts on relevant variables.

Class Assessment:
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.

Grading:
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.

Late Submission of Course Materials:
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.

Classroom Rules of Conduct:
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:
o Stealing, manipulating, or interfering with an academic work of another student or faculty member.
o Collusion with other students on work to be completed by one student.
o 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 University.  Park University's academic honesty policy and related procedures can be found in full in the 2004-2005 Park University Undergraduate and Graduate Catalogs

Course Topic/Dates/Assignments:
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, 10, and 11 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.
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.

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 2005-2006 Undergraduate Catalog Page 85-87

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 2005-2006 Undergraduate Catalog Page 85-87

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 "WH".
  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.
ONLINE NOTE: 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. Recording of attendance is not equivalent to participation. Participation grades will be assigned by each instructor according to the criteria in the Grading Policy section of the syllabus.

Park University 2005-2006 Undergraduate Catalog Page 89

Park University 2005-2006 Undergraduate Catalog Page 89

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. Park University is committed to meeting the needs of all learners that meet the criteria for special assistance. These guidelines are designed to supply directions to learners 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 American with Disabilities Act of 1990, regarding learners with disabilities and, to the extent 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 .

Additional Information:

Copyright:

This material is copyright and can not be reused without author permission.