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EC 141 Principles of Macroeconomics
Truax, Carmen R.


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

S2J 2007 PV

Faculty

Truax, Carmen R.

E-Mail

carmen.truax@park.edu

Semester Dates

3/19/07-05/13/07

Class Days

--T----

Class Time

5:30 - 9:50 PM

Credit Hours

3


Textbook:
Macroeconomics - McConnell/Brue; 16th edition; McGraw-Hill. ISBN 0-07-287557-7

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional 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.
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:
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:
This course will be based on lectures, readings, study guides, quizzes, examinations, lesson assignments, videos, PowerPoint presentations and group projects. The instructor will 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's Core 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.  This exam is worth 20 percent of the student's final grade and will test students' mastery of four Core Learning Outcomes (Outcomes 1, 2, 3, and 4 listed on this syllabus) through definitions, short essay, and graphing questions.  For each core outcome, the student should be prepared to draw the relevant graph by hand, define basic concepts or policies, identify relevant shifts in the curves, and state final impacts on relevant variables.


 


The core assessment is a CLOSED BOOK, CLOSED NOTES exam that must be administered and proctored in the classroom and may not be given as a take-home exam.  Students should not have access to the exam or its questions before it is administered.  The duration of the exam can be no longer than two hours.  No calculators, computers, or materials other than a writing instrument may be used for the exam; this applies to all students, regardless of whether the exam is for on-line or face-to-face students.  Completion of the exam is strictly individual; students may not work in groups to complete the exam.

Link to Class Rubric

Class Assessment:
Lesson assignments, newspaper analysis, four quizzes, two projects and two examinations. Lesson assignments will involve class participation, reading assignments and class activities.The comprehensive final is not a take-home test. It is a closed book and closed notes exam.

Grading:

Lesson assignments           8 x 10 points each 80 points 13%
Newspaper article               1 x 40 points      40 points 7%
Quizzes                               4 x 20 points each 80 points 13%
Group Presentation # 1      1 x 50 points 50 points 8%
Group Presentation # 2      1 x 80 points 80 points 13%
Portfolio                              1 x  50 points     50 points 8%
Mid Term Exam                   1 x  100 points    100 points 17%
Final Exam                          1 x  120 points    120 points 20%
Total                                   600 points (100%)
Grades for the course will be assigned as a percentage of points from total possible, as follows:
A = 90% or more
B = 80% or more
C = 70% or more
D = 60% or more
F = Less than 60%
In addition, any student who misses three classes, regardless of whether or not the absence is excused, will be administratively withdrawn.

 

All final exams will be comprehensive and will be closed book and closed notes.  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 Associate Dean.

Late Submission of Course Materials:
The instructor will not accept assignments late. Assignments not submitted on the due date will receive a grade of “zero”.

Classroom Rules of Conduct:
Student will complete study guide provided by the teacher before to arrive to the next class. Student should arrive on time. Quizzes will be taken at the beginning of the class.

Course Topic/Dates/Assignments:

Week Date Topics/Assignments

1 3/20 The Nature and Method of Economics - Chapter I

The Economizing Problem – Chapter II

Reading Assignment: Chapter 5

2 3/27 Individual Markets: Demand and Supply –Chapter III

The Market System – Chapter IV

Reading Assignment: Chapter 6

Quiz 1 - Chapter 5

3 4/03 Measuring Domestic Output and National Income – Chapter VII

Quiz 2 - Chapter 6

4 4/10 Growth and Instability –Chapter VIII

Reading Assignment: Chapters 1,2,3,4,5,6,7,8

5 4/17 Exam I

Fiscal Policy – Chapter XII

Reading Assignment: Chapter 18

6 4/24 Monetary Policy – Chapter XV

Reading Assignment: Chapter 20

Quiz 3 - Chapter 18

Newspaper Analysis

7 5/01 The Economics of Developing Countries – Chapter XXII web

Reading Assignment: Chapters 12, 15, 18, 20, 22web

Quiz 4 -Chapter 20

8 5/08 Final Exam & Portfolio Review

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 2006-2007 Undergraduate Catalog Page 87-89

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 2006-2007 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 "W".
  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 2006-2007 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 (a)                                                                                                                                                                                                                                             
Outcomes
1, 2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
All causes or processes of economic phenomena are perfectly identified and stated. (12 points out of 12 points) Most causes or processes of economic phenomena are correctly identified and stated. (11 to 4 points out of 12 points) Most causes or processes of economic phenomena are not correctly identified and stated. (3 to 1 points out of 12 points) No causes or processes of economic phenomena are stated. (0 points out of 12 points) 
Synthesis (b)                                                                                                                                                                                                                                              
Outcomes
1, 2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
The graph is drawn perfectly and most relevant axes and curves are identified correctly.

(22 points out of 22 points)

 
The graph is drawn correctly and most relevant axes and curves are identified correctly. (21 to 7 points out of 22 points) The graph is not drawn correctly and most relevant axes and curves are not identified correctly. (6 to 1 points out of 22 points) The graph is not drawn. (0 points out of 22 points) 
Analysis (c)                                                                                                                                                                                                                                               
Outcomes
1, 2, 3, 4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
All shifts in curves are identified correctly.  (12 points out of 12 points) Most shifts in curves are identified correctly.  (11 to 4 points out of 12 points) Most shifts in curves are not identified correctly.   (3 to 1 points out of 12 points) Shifts in curves are not identified.  (0 points out of 12 points) 
Application (d)                                                                                                                                                                                                                                            
Outcomes
3, 4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
All economic policies and their impacts are correctly described.   (19 points out of 19 points) Most economic policies and their impacts are correctly described. (18 to 6 points out of 19 points) Most economic policies and their impacts are not correctly described.  (5 to 1 points out of 19 points) No economic policies or impacts of such policies are described.

(0 points out of 19 points)

 
Content of Communication (e)                                                                                                                                                                                                                               
Outcomes
1, 2, 3, 4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
All definitions of curves or items identified on graphs are stated perfectly.  (23 points out of 23 points) Most definitions of curves or items identified on graphs are stated correctly. (22 to 8 points out of 23 points) Most definitions of curves or items identified on graphs are not stated correctly. (7 to 1 points out of 23 points) No definitions of curves or items on graphs are stated.

(0 points out of 23 points)

 
Technical Skill in Communicating (f)                                                                                                                                                                                                                       
Outcomes
1, 2, 3, 4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
All definitions of concepts are stated correctly.

(12 points out of 12 points)

 
Most definitions of concepts are stated correctly.

(11 to 4 points out of 12 points)

 
Most definitions of concepts are not stated correctly.

(3 to 1 points out of 12 points)

 
No definitions of concepts are stated.

(0 points out of 12 points)

 
First Disciplinary Competency                                                                                                                                                                                                                              
Outcomes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Fiscal policy is perfectly explained and identified graphically. (10 points out of 10 points) Fiscal policy is explained and identified graphically.

(9 to 3 points out of 10 points)

 
Fiscal policy is explained poorly and not identified graphically.

(2 to 1 points out of 10 points)

 
Fiscal policy is neither explained nor identified graphically.

(0 points out of 10 points)

 
Second Disciplinary Competency                                                                                                                                                                                                                             
Outcomes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Monetary policy is perfectly explained and identified graphically.

(19 points out of 19 points)

 
Monetary policy is explained and identified graphically.

(18 to 6 points out of 19 points)

 
Monetary policy is explained poorly and not identified graphically.

(5 to 1 points out of 19 points)

 
Monetary policy is neither explained nor identified graphically.

(0 points out of 19 points)

 

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Last Updated:3/9/2007 12:18:49 PM