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EC 141 Principles of Macroeconomics
Dunning, Philip C.


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

F2H 2008 BU

Faculty

Dunning, Philip C.

Title

Senior Adjunct Instructor

Degrees/Certificates

MBA
BS

Office Location

Bldg 596, MCAS Beaufort

Office Hours

10:30-12:00 Monday and Wednesday

Daytime Phone

843-525-8343

E-Mail

philip.dunning@park.edu

pdunning@tcl.edu

Semester Dates

20 Oct-14 Dec 2008

Class Days

--T-R--

Class Time

5:00 - 7:30 PM

Prerequisites

N?A

Credit Hours

3


Textbook:
Case and Fair, Principles of Economics, Prentice Hall, 8th Edition 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/.

http://www.cnn.money.com
http://www.marketwatch.com

Course Description:
EC141 Principles of Macroeconomics: 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 #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:
Tests will be utilized, as well as ongoing project throughout the course and one or more assignments.

Grading:

Tests--3 (30 percent each)    90%
Termpaper -1 (10 percent)   10%
 
Total                                    100%
 
90-100   A
80-89     B
70-79     C
60-69     D
<60        F

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business and Management courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. 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 Dean of the School of Business and Management.

Late Submission of Course Materials:
Arrangements for late submission of work must be made with the instructor ahead of time in the case of deployments and other extenuating circumstances.  Other late submissions will result in a proportionate lowering of the grade on the work.

Classroom Rules of Conduct:
Mature adult behavior is expected at all times.

Course Topic/Dates/Assignments:

Class     Topic                                                  Assignment                              Test
1            Introduction                                       Chapters 1 & 2
2            Demand & Supply                             Chapters 3 & 4  
3            Demand & Supply                             Chapters 3 & 4
4            Elasticity                                            Chapter 5
5            TEST                                                Chapters 1-5  
6            National Ouput/Income                      Chapter 19
7            Growth, Productivity                          Chapter 20
8            Government & Fiscal Policy               Chapter 21
9            Federal Reserve & Monetary Policy  Chapters 22 & 23
10          TEST                                                Chapters 19, 20, 22-24
11           Money and Interest Rate                   Chapter 25
12           Aggregate Demand, Supply              Chapter 26
13           Labor Market, Unemployment          Chapter 27
14           Long-Run Growth                            Chapter 28
15           Review                
16           FINAL TEST                                   Comprehensive
 
 

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 2008-2009 Undergraduate Catalog Page 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 2008-2009 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 "F".
  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 2008-2009 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:8/27/2008 8:32:15 AM