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EC 141 Principles of Macroeconomics
Smith, Joseph D.


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

U3DD 2007 DC

Faculty

Smith, Joseph D.

Title

Adjunct Professor

Degrees/Certificates

The Marietta College, B.A., ECON & MNGT
The University of Dayton, M.B.A.

Office Location

DSCC, Bldg 20, A347S

Office Hours

0700-1500, M-F (Please call ahead)

Daytime Phone

614.692.7789

Other Phone

614.769.2965

E-Mail

joseph.smith02@park.edu

joseph.d.smith@dla.mil

jsmith4@law.capital.edu

Web Page

http://parkonline.org

Semester Dates

July 6-9 and 20-22

Class Days

Friday, Saturday, and Sunday

Class Time

F 6-8, Sa 9-5, and Su 9-5

Prerequisites

None

Credit Hours

3


Textbook:

Case/Fair, 8th Edition, Principles of Economics (ISBN 0-13-228914-8)   

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville 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/.


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:

 

Macroeconomics is everywhere around us. Decisions we make daily reflect our understanding of basic macroeconomic concepts. This class will show you what you already know, and hopefully introduce new topics that will aid you in your understanding of the economic world you live in. Your input and participation is crucial--you control what and how much you learn in this type of setting.

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 #3 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 #3 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. This exam is worth 30 percent of the student’s final grade and will test students’ mastery of core learning outcomes through short essay Tools and Methods of Economics questions, Graphical Problems in he Communications section, and Critical Thinking short-answer 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:

One mid-term and one final examination will be administered. The final exam will be given according to the core asessment criteria. In addition to these exams, readings will be assigned. Quizzes may also be given if the professor feels these quizzes are needed to aid the student in grasping certain topics. The quizzes will not represent a part of the student's grade, but rather will be used to assist the student in preparing for the examinations. 

Grading:

 

Two examinations will be administered. The first serves as the mid-term and represents 25% of the student's final grade (25 points). The second serves as the final examination and represents 75% of the student's final grade (75 points). This final examination will test the student on the Core Learning Outcomes, and it is the school's policy that each student pass the final with a 60% or better to pass the course.

The grade structure (%) is as follows:

90-100: A          80-89: B          70-79: C          60-69: D          

(59% or lower represents a failing grade)          

All final exams will be comprehensive and will be closed book and closed notes.  If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth.  Electronic Computers will not be allowed on final exams unless an exception is made by the Associate Dean.

Late Submission of Course Materials:

Unless previously discussed with the professor and accepted, late submissions of course material will not be accepted.

Classroom Rules of Conduct:

 

Participation is crucial, and is expected. A major part of learning is preparing for class.  Students are assigned to complete the assigned reading so that they may gain as much out of the discussion as possible. A class in which only the professor speaks is a very boring class!

Students must also respect those around him or her. Much can be learned from listening to colleagues and their insights. Respect, courtesy, and professional are essential to a quality learning environment. Anything less is unacceptable.

Course Topic/Dates/Assignments:

July 6: Chapter 1 and Chapter 18
July 7: Chapters 19, 20, 21
July 8: Chapters 22 and 23, Mid-term examination (take home) assigned
July 20: Chapters 24 and 25
July 21: Chapter 26, Review of Semester, Discussion of study guide
July 22: Final Examination (Closed book, proctored)

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)
Critical Thinking                                                                                                                                                                                                                                          
Outcomes
Short answer questions with a Maximum value of 88 Points                                                                                                                                                                                                                                                                                                                                                                                                                                                             
Nearly all causes or processes of economic phenomena are perfectly identified and stated. (79 points or more of 88 points) Most causes or processes of economic phenomena are correctly identified and stated. (61 to78 points of  88 points) Most causes or processes of economic phenomena are not correctly identified and stated. (44 to 62 points  of 88 points) No causes or processes of economic phenomena are stated clearly. (43 to 0 points of  88 points) 
Effective Communication                                                                                                                                                                                                                                    
Outcomes
Graphical Problems and completion of Graphs with a maximum value of 140 points.                                                                                                                                                                                                                                                                                                                                                                                                                                      
All definitions of curves or items identified on graphs are stated nearly perfectly.  (126  points or more of 140 points) Most definitions of curves or items identified on graphs are stated correctly. (98 to 125 points of 140 points) Most definitions of curves or items identified on graphs are not stated correctly. (70 to 97 points of 140 points) No definitions of curves or items on graphs are stated clearly.
(0 to 69 points of 140 points)
 
Tools and Methods of Economics                                                                                                                                                                                                                             
Outcomes
This examines tools and methods of economic analysis using short essay questions with a maximum value of 72 points.                                                                                                                                                                                                                                                                                                                                                                                                  
All definitions of are stated nearly perfectly.  (65 points or more of 72 points) Most definitions are stated correctly. (98 to 125 points of 72 points) Most definitions are not stated correctly. (70 to 97 points of 72 points) No definitions are stated clearly.
(0 to 69 points of 72 points)
 

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Last Updated:5/31/2007 6:45:25 AM