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EC 141 Principles of Macroeconomics
Kornilov, Guerman


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 Macroeconomics

Semester

F2T 2006 DLE

Faculty

Kornilov, Guerman

Title

Adjunct Faculty

Degrees/Certificates

Ph.D. Economics
MA Economics
MBA

Office Location

North Potomac, MD

Office Hours

By e-mail throughout the day

Daytime Phone

(301) 294-8475

E-Mail

Guerman.Kornilov@pirate.park.edu

gkornilov@aol.com

Semester Dates

10/23-12/09

Class Days

TBA

Class Time

TBA

Credit Hours

3


Textbook:

Required Text:  Macroeconomics, 16th Edition. Soft cover with DVD, Discover Econ Online, and Paul Solman videos.

Author: Campbell R. McConnell and Stanley L. Brue

ISBN: 007298272 1

Order Texts at: http://direct.mbsbooks.com/park.htm

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, it will enhance your understanding immeasurably.

Hard copy subscriptions that include the online subscription are available to you as a student at special discounted rates. You can subscribe on-line. Click here to subscribe online! Following this link will let the WSJ folks know you are enrolled as a student in this online course. Delivery will start in a few days and they will bill you directly, usually within 3 or 4 weeks. 

Textbooks can be purchased through the MBS 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/.
Advising - Park University would like to assist you in achieving your educational goals. Please contact your Campus Center for advising or enrollment adjustment information.
Online Classroom Technical Support - For technical assistance with the Online classroom, email helpdesk@parkonline.org or call the helpdesk at 866-301-PARK (7275). To see the technical requirements for Online courses, please visit the http://parkonline.org website, and click on the "Technical Requirements" link, and click on "BROWSER Test" to see if your system is ready.
FAQ's for Online Students - You might find the answer to your questions here.


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:
The facilitator's educational philosophy is one of interactiveness based on lectures, readings, quizzes, dialogues, examinations, internet, videos, web sites and writings. The facilitator 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:
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.

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

The work you do in this class is valued as follows:

  • Homework                                     22% of grade      220 points                                                      
  • Mid Term Exam                              20% of grade      200 points                                                     
  • Comprehensive Examination            30% of grade      300 points
  • Weekly Disicussions                      16% of grade      160 points
  • Weekly Quiz                                  12% of grade      120 points
  • TOTAL                                           100%                1000 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:
Online Etiquette: All online communications need to be composed with fairness, honesty and tact. If I deem an online communication to be inappropriate or offensive, I will take appropriate official action. See http://www.albion.com/netiquette/corerules.html.

Course Topic/Dates/Assignments:

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.

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 .

Additional Information:

Students within one hour drive of Park must take the final at a Park site.


The final exam is a closed book, closed notes exam.



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:10/18/2006 9:50:51 AM