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EC 301 Intermediate Macroeconomics
Williams, Cynthia


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

U1B 2006 BL

Faculty

Williams, Cynthia

Title

Economics Instructor

Degrees/Certificates

M.S. Economics
B.B.A. Economics & Finance

Daytime Phone

564-5803 Box #600

E-Mail

Cynthia.Williams04@pirate.park.edu

Semester Dates

Summer 2006

Class Days

--T-R--

Class Time

7:40 - 10:10 PM

Prerequisites

EC 141

Credit Hours

3


Textbook:
Gordon, Robert J.; Macroeconomics; Addison-Wesley: Boston, 9th Ed.

Textbooks can be purchased though the MBS bookstore


Course Description:
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. Pre-requisite: EC141. 3:0:3

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:
Midterm Exam: 40%
Final Exam: 40%
Research Paper: 20%

Grading:
A 90-100
B 80-89
C 70-79
D 60-69
F 50-59

Classroom Rules of Conduct:
Students are encouraged to read the latest edition of the Park University Catalog for policies, procedures, and rules concerning student behavior and responsibilities.

Course Topic/Dates/Assignments:
What is Macroeconomics/23 May/Ch.1
The Measurement of Income, Prices, and Unemployment/25 May/
Ch.2
The Simple Keynesian Theory of Income Determination/30 May/
Ch.3
The IS-LM Model/1 June/Ch.4
Monetary Policy, Fiscal Policy, and the Government Budget/
6 June/ Ch.5
International Trade, Exchange Rates, and Macroeconomic Policy/Review for Midterm Exam/8 June/Ch.6
Midterm Exam/13 June
Aggregate Demand, Aggregate Supply, and the Self-Correcting Economy/15 June/Ch.7
The Theory of Economic Growth/The Big Question of Economic Growth/20 June/Chs.10,11
The Government Budget, the Public Debt and Social Security/
22 June/Ch.12
Money and Financial Markets/27 June/Ch.13
Stabilization Policy in the Closed and Opened Economy/
29 June/Ch.14
Instability in the Private Economy: Consumption Behavior/
4 July/Ch.15
Instability in the Private Economy: Investment/6 July/
Ch.16
New Classical Confronts New Keynesian Macro/Review for Final Exam/11 July/Ch.17
Final Exam/ Research Paper/13 July

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.

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 .



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:

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

Last Updated:4/11/2006 3:33:38 PM