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EC 141 Principles of Economics I (Macro)
Austin, Kenneth I.


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

U1T 2006 DLH

Faculty

Austin, Kenneth I.

Title

Adjunct Faculty

Office Location

Parkville MO

Office Hours

By Appointment

Daytime Phone

816-584-6319

Other Phone

Home: 816-587-2105

E-Mail

ken.austin@park.edu

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

Textbooks can be purchased though the MBS bookstore

Textbooks can be purchased though the Parkville 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

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.

Link to Class Rubric

Class Assessment:
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 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

Grading:
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

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:
o 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.  
o Approval of proctors is the discretion of the Online instructor.  
o 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.  
o Failure to take a final proctored exam (or submit your final project for some online graduate courses) will result in an automatic "F" grade.

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.

Late Submission of Course Materials:
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.

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

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:5/23/2006 1:18:52 PM