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EC 401 History of Economic Thought
Bowen, John E.


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 401 History of Economic Thought

Semester

S2T 2007 DL

Faculty

Bowen, John E.

Daytime Phone

614-457-8985

E-Mail

John.Bowen@pirate.park.edu

Semester Dates

S2T 2007

Class Days

TBA

Credit Hours

3


Textbook:

History of Economic Thought, Fourth Edition, Landreth and Colander. ISBN 0-618-13394-1. No photograph is available but the cover is gray and pink. It is available at http://direct.mbsbooks.com/park.htm

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

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FAQ's for Online Students - You might find the answer to your questions here.


Course Description:
This course provides an overview of the historical development of economic doctrines from ancient times to the mid-20th century. Included in the discussion are the Greek and Roman slave society, the feudal society, mercantilism, and the historical transition to socialism and capitalism. 3:0:3

Educational Philosophy:

A major goal of this course is to provide a very practical benefit to each student long after the course is over, regardless of whether the student pursues a career involving economics or business: the ability to think for one's self. "History of Economic Thought" is about thought - i.e., thought processes, how economic thinking is influenced and how it affects events. The student should become more aware of the traps people have fallen into and how others may have manipulated their thought. As a result of the course, the student should be better able to think independently rather than following whatever ideas are popular at the moment. You will relate ideas of the past to current national and international economic news.

You are more than a student: ancient student-instructor relationships do not apply to this course. The student is a partner in pioneering distance learning. You may have the opportunity to become a part of an "electronic team", a course activity that is increasingly becoming a real-world activity. You will have the opportunity to work with people hundreds of miles apart. The instructor will be a facilitator who will provide insight as to possibilities. Instead of merely being spoon-fed, you will be challenged to use creativity in contacting people, obtaining information, and in completing projects.

 

Learning Outcomes:
  Core Learning Outcomes

  1. Discuss ideological and economic approaches to economic organization.
  2. Discuss the evolution of the capitalist economic system, as developed by its advocates and shaped by its critics.
  3. Discuss the evolution of the Socialist and Marxian economic system, as developed by its advocates and shaped by its critics.


Core Assessment:

Write a paper that evaluates the impact of an economy guided by the institutions embodied in a socialistic form of economic organization andone guided by the institutions embodied in a capitalistic form of economicorganization. After examining the components of each approach contrast and compare the two types of systems in terms of their impact on economicdevelopment and specific economic outcomes. Propose your own solutions to anyweaknesses in the two systems and explain how your system might promote economic development and economic outcomes more effectively.

 

Link to Class Rubric

Class Assessment:
ELEMENTS OF GRADING AND DEADLINES

Elements of Grading and Deadlines

 

DiscussioN (16 points): weekly requirement

 

Text Questions (16 points): weekly requirement

(To be assigned first week)

 

Midterm (20 points): End of 4th week

 

Major Term Paper (28 points), four stages.

1. 1st stage: topic selection (2.5 points): End of first week.

2. 2nd stage: formal proposal (5 points): End of third week.

3. 3rd stage: initial term paper (12.5 points): End of fifth week.

4. 4th stage: final term paper: (8 points): End of seventh week.

 

Final Exam (20 points): No later than the end of the 8th week.

TOTAL 100 points.

 

THE COMPREHENSIVE FINAL EXAM FOR ONLINE COURSES MUST BE PASSED WITH A GRADE OF AT LEAST 60% IN ORDER TO PASS THE COURSE REGARDLESS OF THE STUDENT’S OVERALL AVERAGE IN THE COURSE. THE PROCTORED FINAL MUST BE TAKEN AT A PARK UNIVERSITY CAMPUS CENTER, IF THE STUDENT IS WITHIN A ONE-HOUR DRIVE OF THAT CAMPUS.

 

NOTE: THE FINAL EXAM IS A COMPREHENSIVE CLOSED BOOK AND CLOSED NOTE EXAM. FAILURE TO COMPLETE A PROCTORED FINAL EXAM WILL RESULT IN COURSE FAILURE REGARDLESS OF HOW WELL ONE HAS DONE OTHERWISE DURING THE COURSE.

 

Late work

Late work
is not acceptable unless the student has received prior permission and thus all points will be lost with the exception of the stages of the term paper. Each stage loses 20% of its points for each day that it is late.

Grading “Rubric” (criteria) for Elements of Grading

The following indicates not only how all course requirements must be graded but also provides some tips as to how to achieve a high grade.

Discussion Rubric

Discussion is both mandatory and a source of extra credit.  You can earn two points each week for discussion if provides evidence of thought, is clearly communicated compared to how others do in the class, and demonstrates a helpful and respectful attitude toward your peers.

You can also earn extra credit in the Discussion. Each week you must input something into the attendance thread as assigned by your instructor or you will lose points but if your inputs are of significant value to your fellow students, you can gain points. Since only your fellow students can determine who has helped them the most, they will determine who gets two points of extra credit for inputs into the Discussion.

Some of you may gain extra credit from your weekly inputs into the Discussion Thread. On the final exam, I will ask everyone to e-mail me his or her vote for the person (other than themselves) whose inputs to the thread were the most helpful or interesting. The person selected by the class, will get a boost points to the grade – that could be useful to a person who is close to a higher grade.

You will probably be more likely to be selected by your fellow students for recognition if you “give” and not just “get” in the discussions.

You can “get” by simply seeking help from your fellow students. You can also “give” by helping and encouraging fellow students. You are encouraged to “give” by providing your insights into topics covered in the reading assignments. You can also give by discussing relevant current news issues when it fits into the discussion topics as assigned by your instructor.

The instructor grades all the regular requirements for the course but the extra credit is awarded to you by your peers based on the value that you have provided for them. They know better than I do who has been most beneficial through the Discussion inputs.”

Text Questions Rubric

During the first week, you will be notified as to whether text questions will be assigned to teams or individuals and the exact questions to be assigned to each person or team. You can obtain all two percentage points for each week by demonstrating careful thought and analysis and clearly communicating your ideas as compared to others in the class.

Midterm and Final Exam Rubric

Both exams will primarily consist of questions that combine both objective and subjective elements. In multiple choice questions, for example you must select not only the correct answer but you must explain why it is the correct answer and why the others are not correct – both the choice and explanation must be correct to get any credit for the question.  The final exam will be a comprehensive exam. There may be an extra credit question on the midterm and/or final – if the question is correct, it will be used to reduce the number of errors on the exam.

Normally the midterm will be posted a few days before it is due. Prior to the final exam, you will be given some guidance as to where you should concentrate your review.

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.

Major Term Paper Rubric: four stages

Each student will select an economist for a term paper. The paper should not simply summarize what is in the text but should seek additional information concerning any of the person’s books, background, and how that person has impacted economic thought and the world in which we live.

First, your paper is an objective research paper that should cover both pros and cons.  It should not take a position and attempt to persuade but simply cover the various aspects of the topic.  In an ideal paper, you should write the paper in such a way that the reader would have no clue as to your own opinions - the reader would only see a range of views that people may hold on the topic but the reader would not know which way you lean.

Second, the paper must stay focused on the topic.  On most topics that one might select, there are all kinds of potential "bunny trails" - i.e., issues that are interesting, controversial, and somewhat related but not essential to the topic. Avoid bunny trails and stay focused on the topic.

There are four stages to the term paper and each stage must be completed and approved before going on the next stage.  The first stage is the topic. The second stage is the formal proposal – it shows how you plan to cover the topic. You will use for feedback from the proposal to develop the third stage. The third stage will be the initial paper: it is not a draft – if it is done sufficiently well it may be also accepted as the final paper.  The final paper will be developed based on feedback from the initial paper.

Grading will be based on five considerations: (1) accuracy of factual information, (2) objectivity, (3) depth of analysis, (4) clear communication which is correct in grammar, spelling, and punctuation, and (5) demonstration of extensive research.

Grading:

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.

The Proctored final exam for online courses must be passed with a grade of 60% or higher in order to pass the course regardless of the overall average.  The grade for students who pass the proctored final will be based on the overall average of homework and tests taken during the course.  The proctored final exam must address only material which the student has been taught in class.

Late Submission of Course Materials:
See above assessment information.

Course Topic/Dates/Assignments:
THE COMPREHENSIVE FINAL EXAM FOR ONLINE COURSES MUST BE PASSED WITH A GRADE OF AT LEAST 60% IN ORDER TO PASS THE COURSE REGARDL

Week #1: Introduction and Overview, ideological approaches

Chapter One, homework questions.

Week #2: Preclassical Economics

Chapters. Two and Three, Term Paper Topic, homework questions.

Week #3: Classical Economics

Chapters Four through Seven, Term Paper Formal Proposal, homework questions.

Weeks # 4 & 5: Neoclassical Economics

Chapters Eight through Ten, Midterm Week Four, Homework Weeks Four and Five.

Weeks # 6 & 7: Modern Economics

Chapters 14 & 15 Week 6 and Chapters 16 & 17 Week 7, Initial Term Paper Week 6, Homework Weeks 6 & 7.

Week # 8, Course Wrap Up. Review ideological and economic approaches to economic organization. Review the evolution of the capitalist economic system, as developed by its advocates and shaped by its critics. Review the evolution of the Socialist and Marxian economic system, as developed by its advocates and shaped by its critics. Review previous text assignments.

Submit Final Term Paper. Complete proctored Final Exam.

THE COMPREHENSIVE FINAL EXAM FOR ONLINE COURSES MUST BE PASSED WITH A GRADE OF AT LEAST 60% IN ORDER TO PASS THE COURSE REGARDLESS OF THE STUDENT’S OVERALL AVERAGE IN THE COURSE. THE PROCTORED FINAL MUST BE TAKEN AT A PARK UNIVERSITY CAMPUS CENTER, IF THE STUDENT IS WITHIN A ONE-HOUR DRIVE OF THAT CAMPUS.

NOTE: THE FINAL EXAM IS A COMPREHENSIVE CLOSED BOOK AND CLOSED NOTE EXAM. FAILURE TO COMPLETE A PROCTORED FINAL EXAM WILL RESULT IN COURSE FAILURE REGARDLESS OF HOW WELL ONE HAS DONE OTHERWISE DURING THE 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 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.
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 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: Judge the relative worth of information based on prior knowledge                                                                                                                                                                               
Outcomes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Provided 5 or more comparisons regarding macroeconomic theoretical concepts and presented them in a logical manner. Effectively develops multicultural concepts in response to the question Provided 3 to 5 comparisons regarding macroeconomic theoretical concepts and presented them in a logical manner.
Adequately develops multicultural concepts in response to the question
 
Provided 1 to 3 comparisons regarding macroeconomic theoretical concepts.
Minimally develops multicultural concepts in response to the question
 
Provided no economic comparisons regarding macroeconomic theoretical concepts.
Provides no multicultural 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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
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
1, 2, 3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
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. 
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
 

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Last Updated:3/2/2007 3:16:41 PM