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EC 301 Intermediate Macroeconomics
Mustion, Paul J.


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

U1OO 2009 WO

Faculty

Mustion, Paul J.

Title

Adjunct Faculity

Degrees/Certificates

BS, MA, CPA

Office Location

Lebanon MO

Daytime Phone

417-532-1047

Other Phone

417-718-1156 cell    417-532-2747 fax

E-Mail

pjmustion@park.edu

mustioncompany@aol.com

Semester Dates

06-01-09 - 07-24-09

Class Days

-M-----

Class Time

5:00 - 10:20 PM

Credit Hours

3


Textbook:

Macro Economics  (10th edition) Dornbusch, Stanley, Fischer and Startz
McGraw Hill- Irwin
ISBN: 978-0-07-321811-5

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:
EC301 Intermediate Macroeconomics: 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: EC141. 3:0:3

Educational Philosophy:
 

Students maximize their potential through education by understanding concepts in a way that it is relevant to them in their life during the time that the education is taking place. People of all ages, driven by their desires, achieve personal goals for the future with the implementation of adequate materials, feedback from teachers and peers, and personal evaluations. Gratification emerges when students know that they are building upon stepping stones within their academic road to success.

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:
A variety of methods will be used to assess the learning in this course. Students will be assessed on their exams, homework and writing assignments .

Grading:

Homework                        300
Mid-Term Examination     300
Term Paper                       100
Final Examination             300
 
  A=  90 - 100%

B=  80 -  89%

C=  70 - 79%

D=  60 - 69%

F=   0  -  59%

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:
Assignments, handed in late, will be reduced 10 points per day. The Mid-Term test will have a one-week make-up time before a “zero” grade will be given. The Final exam will only have one day in which the student must make up the test before the grade becomes a "ZERO"

Classroom Rules of Conduct:
 

Classroom Rules of Conduct:
1. Attend class and be prompt. Class attendance is part of class participation, which is a portion of your grade. Roll will be checked at the beginning of each class period. Since tardy entry to a class disrupts the class, your lateness for class will receive a reduction in points.

2. IT IS YOUR RESPONSIBILITY TO MAKE UP ANYTHING MISSED IN CLASS.
 
3.  Turn of all pagers and cell phones.

Course Topic/Dates/Assignments:

 Week 1
6-1-09
Introduction, college and course requirements. Discussion on Macroeconomics and national accounting.
Text chapters 1 and 2.
Homework: Chapter 1, Technical #1  and Empirical #1
Chapter 2: problems  1, 2, and 9. Technical 1-3 a, b, c, d and e.
 
Week 2
6-8-09
Review of assigned homework. Lecture and discussion on growth and accumulation theory and policy. Explore the supply and demand curves.
Text chapters 3, 4 and 5.
Homework:Chapter 3- problems conceptual 1, 2, 3, 6 Technical 1, 3, 4, 6a b, c, and 10. chapter 4: conceptual 1, 3, 5, 10 technical 1
chapter 5: conceptual 1, 2, 4 technical 1a, b and problem 2 
 
Week 3
06-15-09
Review of assigned homework. Lecture and discussion on aggregate supply or wages, prices and employment and inflation - introduction to banks.
Text chapters 6, 7 and 8
Homework: Chapter 6 - conceptual 3, technical 1, 3. empirical 2a
chapter 7 - conceptual 1, 2, 8. technical 1a and b. Empirical 3. Chapter 8 - conceptual 1
 
Week 4
6-22-09
Review of assigned homework. Lecture and discussion on income and spending theory, money, interest and income fiscal policy.
Mid-Term Examination approximately 1 hour in class.
Text chapters  9, 10 and 11.
Homework: Chapter 9 - conceptual 1, 3 technical  1, 2 and 3. chapter 10 - conceptual  2, 5. technical 3 and 7.  Chapter 11 conceptual  1, 3, 6. Technical  1 and 3. Empirical 2.
 
Week 5
6-29-09
Review of assigned homework. lecture and discussion on economic links with other countries world wide and some of the impacts. consumption and savings or investing
Review of Mid-Term Examination
Text chapters  12, 13, and 14.
Homework: chapter 12 - conceptual  1, 2, 7, 10. Technical 1. Empirical 1.
Chapter 13 - conceptual 1, 2, 7, 10. Chapter 14 - conceptual 1,4, 6, and 12.
 
Week 6
7-6-09
Review of assigned homework. Lecture and discussion on demand for money or Who's  Got The Cash? The functions of money, Impact of high inflation. The Fed's and markets and behavior factors.
Text chapters:  15, 16 and 17.
Homework: chapter 15 - conceptual 1, 2, 3, 6. chapter 16 - conceptual 1, 3, 6, 7. chapter 17 - conceptual 1, 2, 6, 9. Technical chapter 17 - 3 
 
Week 7
7-13-09
Review of assigned homework. Lecture and discussion on asset prices and financial  markets and computations of net present value considerations. The big economic events.
Text chapters:  18 and 19
Homework: chapter 18 - conceptual 1, 3, 4, 5. Conceptual 1a, b, and c. Problems 7, 8, and 13.
 
Week 8
7-20-09
Review of assigned homework. Lecture and discussion on highlights from chapter 20 and 21. (Students review material). course review. Final Examination in class (closed book and no notes).  2 hours allowed for exam.
 
Thanks I enjoyed having you in class.
 
 
 

 

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)
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. 

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Last Updated:5/16/2009 7:17:15 PM