Syllabus Entrance
Printer Friendly
Email Syllabus

EC 141 Principles of Macroeconomics
Kubec, Joseph


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

SP 2007 HOA

Faculty

Kubec, Joseph

Title

Senior Instructor

Office Location

MacKay 30 D

Office Hours

Monday and Friday by appointment

E-Mail

joseph.kubec@park.edu

Semester Dates

Spring 2007

Class Days

-M---F-

Class Time

11:00 - 12:15 PM

Prerequisites

none

Credit Hours

3


Textbook:

The Textbook for EC141 is:

Principles of Macroeconomics, 8/E
View Larger Cover Image

Karl E. Case, Wellesley College
Ray C. Fair, Yale University

Publisher: Prentice Hall
Copyright: 2007
Format: Paper; 560 pp

ISBN-10: 0132226456
ISBN-13: 9780132226455

Or, you can purchase the textbook that combines both EC141 and EC142:

Principles of Economics, 8/E
View Larger Cover Image

Karl E. Case, Wellesley College
Ray C. Fair, Yale University

Publisher: Prentice Hall
Copyright: 2007
Format: Cloth; 896 pp

ISBN-10: 0132289148
ISBN-13: 9780132289146

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

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. Low priced, special discounted rates for students (currently 15 weeks for $29.95) that include hard copy subscriptions with the online WSJ are available to you.

Click Here to subscribe online! http://wsjstudent.com/  Following this link and selecting Joseph Kubec as your instructor will let the WSJ folks know you are enrolled as a student in this course. Delivery will start in a few days and they will bill you directly, usually within 3 or 4 weeks.

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/.

http://wsjstudent.com/

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 instructor's educational philosophy is one of interactiveness based on lectures, readings, quizzes, dialogues, examinations, Internet, videos, web sites and writings.  

The instructor challenges and engages each learner to encourage the lively exploration of ideas, issues, and contradictions. He believes that the application of theoretical concepts is equally important as the visualization of these concepts.

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
  • Three Section Exams
  • Comprehensive Final Examination
  • Quizzes in class
  • Instructor evaluation/class participation which is made up of the following factors:
    • Contributing and discussing key concepts in class
    • Attending class each week - meaning being active in the weekly projects.
    • 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 course is valued as follows:

Homework Assignments                  20% of grade      200 points
Three Section Exams (15% each)    45% of grade      450 points
Comprehensive Final Examination   20% of grade      200 points 
Participation                                      5% of grade        50 points 
In Class Quizzes                              10% of grade     100 points
TOTAL                                             100%                  1000 points

Note that point deductions will be made for nonparticipation and absences.

All examinations, including the section examinations and the final examination, are closed book and closed notes and will be taken in the classroom.  No calculators, computers, or materials other than a writing instrument may be used during the examinations.  Completion of the examinations is strictly individual and students may not work in groups to complete an examination. 

Late Submission of Course Materials:

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. Work not received within 7 days of the due date will not be scored.

Work received after the last class meeting of the term will not be scored.

Classroom Rules of Conduct:

Any classroom conduct that disrupts the learning environment in the opinion of the instructor, will not be tolerated.  

Turn off cell phones and other electronic communication devices before entering the classroom.   Advise the instructor if you bring a recording device and plan to record the lecture for your notes

Also remember that computers make writing and revising much easier and more productive.  Students must recognize though that technology can also cause problems.  Printers run out of ink and hard drive crash.  Students must be responsible for planning ahead and meeting deadlines in spite of technology.  Be sure to save copies of your work to disk, hard drive, and print out paper copies for backup purposes.

Course Topic/Dates/Assignments:
Note that the assignments, topics and examination dates in the following table are subject to change at the instructor's discretion.

Week

Topics

Reading Assignment

Exams

1

Introduction to economics

chapters 1 and 2

 

2

Demand, Supply and Market Equlibrium

chapter 3

 

3

Demand and Supply applications

chapter 4

 

4

Introduction to Macroeconomics

chapter 5

 

5

Measuring National Output and Income

chapter 6

Section Examination 1

6

Growth, Productivity, unemployment and inflation

chapter 7

 

7

Aggregate expenditure and equlibrium output

chapter 8

 

8

The government and Fiscal Policy

chapter 9

 

9

Money supply and the Federal Reserve

chapter 10

 

10

Monetary Policy

chapter 11

Section Examination 2

11

Money and the interest rate

chapter 12

 

12

Aggregate demand and aggregate supply

chapter 13

 

13

The labor market

chapter 14

 

14

Macroeconomic issues and policy

chapter 15

 

15

Monetarism, new classical theory, and supply side economics

chapter 19

Section Examination 3

16

Final Examination Week

 

Comprehensive 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 (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)

 

Copyright:

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

Last Updated:12/6/2006 5:53:53 PM