Syllabus Entrance
Printer Friendly
Email Syllabus

EC 301 Intermediate Macroeconomics
Stirling-Willis, Guerry B.


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

F2M 2006 CH

Faculty

Stirling-Willis, Guerry B.

Title

Adjunct Instructor

Degrees/Certificates

MBA-University of NC at Greensboro
Addtional graduate Economic Courses at UNCG and East Carolina University

Office Location

Contact me on line or by phone

Office Hours

By Appointment

Daytime Phone

252-342-8100

Other Phone

252-240-1863

E-Mail

Guerry.StirlingWillis@pirate.park.edu

guerry@ec.rr.com

Semester Dates

Fall II 2006 Octomer 23 - December 15, 2006

Class Days

-M-W-F-

Class Time

11:15 - 12:55 PM

Prerequisites

141

Credit Hours

3


Textbook:
MACROECONOMICS, 5th Edition, Abel & Bernanke, ISBN 0-321-16212-9

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:
MyEconLab Text supplement;  Macroeconomic 5th Edition Update, Daily Access to Major Metropolitan Newspaper with Business Section or The Wall Street Journal

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:

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. PREREQUISITE: EC 141. 3:0:3

Educational Philosophy:

Macroeconomics is full of controversies.  Through real world applications incorporating active learning activities, students will learn how economic concepts can be put to work to explain real world issues.  At the end of the course, students will be able to discuss a broad spectrum of macroeconomic issues and ideas as these relate to modern and current day situations.

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:

Quizzes:  25%

Midterm:  25%

Final:  30%

Term Paper:  10%

Group Learning Activities:  10%

TOTAL 100% (100 points.)                         

 

As part of each assessment, students will demonstrate not only mastery of course concepts but ability to apply concepts and mathematical/graphical analysis as assigned. Midterm and Final Exams are closed book, closed notes.  Take Home Quizzes are Open Book, Open Notes.

Grading:

Grading:  A standard 10 Point Grading Scale will be applied.


Quizzes:  25%

Midterm:  25%

Final:  30%

Term Paper:  10%

Group Activities:  10%

TOTAL 100% (100 points.)                         

Late Submission of Course Materials:
Late submission permitted only if prior approval has been granted based on a compelling need or if there has been a demonstrable emergency.

Classroom Rules of Conduct:

All students shall be respectful and considerate of all others. All are encouraged to share ideas relevant to the class - including those that are controversial - but this should be done in a way that does not diminish others. Being considerate includes speech, nonverbal behavior, no use of cell phones while class is in session, use of computers only for class activities.

Course Topic/Dates/Assignments:

Class Schedule and General Outline- NOTE: Additional Assignments Will Be Made Throughout the Term. Changes may also be made at instructor's discretion if they are deemed valuable to the course.

Date

Text Readings

Chapter Lecture Topics,Reading Assignments, Test and Project Schedule

Students are expected to read the assigned chapter prior to the lecture.

Oct 23

Chapter 1

Course Introduction- Introduction to Macroeconomics

Oct 25

Chapter 2

Measurement and the Structure of the National Economy-Update: Wealth

Versus Saving

Oct 27

Chapter 3

Begin Section 2: Long Run Economic Performance-

Chapter 3 – Productivity, Output, and Employment Take Home Quiz 1-3

Oct 30

Chapter 3

Finish Chapter 3 – Group Application: Oil Price Shocks – Begin Tracking

Term Paper Topics Due

Nov 1

Chapter 4

Consumption, Saving and Investment – Take Home Quiz Due

Nov 3

Chapter 4

Finish Chapter 4 – Group Application: Fed Rate Hikes, Investment in

Housing (internet activity)

Nov 6

Chapter 5

Saving & Investment In an Open Economy-

Nov 8

Chapter 5

Group Applications: Working with macroeconomic data pg 209

Update: Globalization, Current Account Deficit,

Nov 10

Chapter 7

The Asset Market, Money and Prices -Take Home Quiz 4-7

Nov 13

Chapter 7

Finish Chapter 7 – Group Application - Take Home Quiz Due

Nov 15

Chapter 8

Begin Section 3 – Business Cycles and Macroeconomic Policy

Chapter 8 Business Cycles

Nov 17

Chapter 8

Group Application: TBA; Update The Unusual 2001 Recession; Midterm Review

The Jobless Recovery from the 2001 Recession

Nov 20

MidTerm Exam

Midterm Chapters 1-5, 7

Begin Chapter 9 – The IS-LM/AD-AS Model

Nov 23

Chapter 9

The IS-LM/AD-AS Model

Nov 30

Chapter 10

Oil Price Shocks Revisited- Continued Analysis; Term Papers Due; Begin Chap 10

Dec 1

Chapter 10

Classical Business Cycle Analysis Take Home Quiz 8-10

Dec 4

Chapter 11

Keynesianism: The Macroeconomics of Wage and Price Rigidity

Begin Report Presentations

Dec 6

Chapter 11

Finish Chapter 11 Take Home Quiz Due; Study Questions for Final

Continue Report Presentations Group Applications-Keynesian Debate

Dec 8

Chapter 14

Monetary Policy and the Federal Reserve System – Continue Report Presentations

Dec 10

Chapter 14

Finish 14 and Begin Chapter 15 Government Spending and It's Financing

Dec 13

Chapter 15

Finish 15 - Update: Current Issues in Social Security

Dec 15

Final Exam

Final Exam

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: 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 protected by copyright and can not be reused without author permission.

Last Updated:10/13/2006 1:25:08 PM