EC141 Principles of Macroeconomics

for F2T 2008

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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.


EC 141 Principles of Economics I (Macro)


F2T 2008 DLB


Lana Simons


Online Adjunct Senior Instructor


MBA from the University of Northern Colorado
MEd from Colorado State University
Completed additional graduate work in Human Resources at the University of Oklahoma.

Office Location


Office Hours

9:00 am - 9:00 pm, CST, Monday - Friday

Daytime Phone



Web Page

Semester Dates

October 20  - December 14, 2008

Class Days


Class Time




Credit Hours



Required Text and DVD: 
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


Economics-Paul Solman DVD

Economics-Paul Solman DVD***
Required • Edition: 17TH 08 • McConnell

ISBN:  978-0-07-329140-6
$16.25, new

***The previous edition of the Paul Solman DVD will also be fine.  It has most of the same lessons and also accompanies both EC141 and EC142. 


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.
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Resources for Current Students - A great place to look for all kinds of information
Advising - Park University would like to assist you in achieving your educational goals. Please contact your Campus Center for advising or enrollment adjustment information.
Online Classroom Technical Support - For technical assistance with the Online classroom, email or call the helpdesk at 866-301-PARK (7275). To see the technical requirements for Online courses, please visit the website, and click on the "Technical Requirements" link, and click on "BROWSER Test" to see if your system is ready.
FAQ's for Online Students - You might find the answer to your questions here.

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 facilitator's educational philosophy is one of interactiveness based on lectures, readings, quizzes, dialogues, examinations, internet, videos, web sites and writings. The facilitator will engage each learner in what is referred to as disputatious learning to encourage the lively exploration of ideas, issues and contradictions.

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:

The final course grade will be determined using the following measurements: •Homework Assignments •Mid Term Exam •Proctored Comprehensive Final Examination.

Instructor evaluation/class participation which is made up of the following factors: 1. Posting your introduction to the conference during the first week of the course. 2. Weekly discussion activities   3. Having a completed, correct proctor form received and approved by the end of week six.  4. Attending class each week - meaning being active in the weekly projects. 5. Other course related activities.

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

Proctored final examination:  A closed-book, closed-notes final proctored examination will be taken in a proctored testing environment during the 8th week at one of the Park University sites around the country or at an alternative location.  For proctored examinations, photo identification is required at the time of the test.  Guidelines for selecting an acceptable proctor can be found on the Park University Website.  
Other Information on proctored exams: --  It will be the responsibility of the student to arrange for a proctor, by the 6th week of the term, who is accepted and approved by the course instructor. --  Approval of proctors is the discretion of the Online instructor.   --   A proctor request form will be made available to you during the first week of class so that you can send your requested proctor to your instructor for approval.   --   Failure to take a final proctored exam (or submit your final project for some online graduate courses) will result in an automatic "F" grade.


The work you do in this class is valued as follows: (1)  Weekly Assignments: 28% of grade = 280 points;  (2)  Mid Term Exam:  20% of grade = 200 points;. (3)  Comprehensive Examination:  30% of grade = 300 points;   (4)  Weekly Disicussions: 16% of grade = 160 points;  (5)  Weekly Quiz: 6% of grade = 60 points. 

TOTAL 100% = 1000 points. Note that point deductions will be made for nonparticipation and absences.

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:

Submission of Late Work:    Late assignments for full credit will only be accepted with PRIOR APPROVAL from the instructor.  Assignments that are submitted late without an approved time extention will be accepted at partial credit, (1/2 of earned points), for one week after due date ONLY.   Time extentions may be granted for  (1)  TDY, or other employer-caused travel;   (2)  Serious illness and/or hospitalization;  (3)  late textbook arrival.   Plan on submitting Verification or Documentation to receive approval!   


Course Topic/Dates/Assignments:
Welcome to Macroeconomics (EC 141), online!


This course provides a thorough introduction to the field of economics. This course focuses on the fundamental nature of economics, a study of choice, with economic concepts and the tools needed to be a successful leader in today's global economy. This course also provides the student with an understanding of the market system, applicable to the public and private organizations.


Each week we'll focus on two to three chapters in our text, either Principles of Macroeconomics by Case/Fair, Eighth Edition, OR Economics, by Case/Fair, Eighth Edition.. The following is a general guide to our course but you will want to follow the specific instructions in each weekly module.


Week 1: Our objective is to understand economic terms and concepts. We will study the nature and method of economics, the economizing problem and review the construction and interpretation of graphs. The reading assignment for week 1 includes chapters 1 and 2 and the chapter 1 appendix in the text.


Week 2: We will take a look at competitive market models and the important concepts of supply and demand. The reading assignment includes chapters 3 and 4 in the text.


Week 3: We'll learn about important concepts in the United States Economy, both the public and the private sectors. Then we'll consider the United States in the global economy. The reading assignment for this week includes chapters 5 and 6 in the text.


Week 4: We'll have a Mid Term Exam and learn about key economic concepts. Our topics are economic measurement tools and indices of economic activity as well as economic growth, inflation and unemployment. The midterm exam covers all course materials through chapter 8. The reading assignment are chapters 7 and 8 in the text. Also, your proctor forms are due to be in your instructor's hands this week.


Week 5: We address Keynesian and classical economic theories and the aggregate expenditures model. The reading assignment this week includes chapters 9, 10, and 11 in the text.


Week 6: We consider governmental stabilization policies at work during the business cycle and an introduction to the United States banking system. The reading assignment this week is chapter 12 an 13 in the text.


Week 7: This week we will look at the creation of money by banking institutions and the mechanics of monetary policy. The reading assignment includes chapters 14 and 15 in the text.


Week 8: This will be a busy week. The policy at Park University is for each of you to take a significant, proctored exam during the Eighth week of the class. Unless you are more than one hour from the nearest Park site, you are expected to take the exam at one of the Park sites. We will also review current economic events using concepts that you have learned from the course.


The assignments during week 8 are (1) Discussion and Peer Review; and (2) The National Budget Simulation posted on the week 8 thread!


In addition, students are encouraged to review chapters assigned earlier in the course to prepare for the final examination.


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 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.
ONLINE NOTE: An attendance report of "P" (present) will be recorded for students who have logged in to the Online classroom at least once during each week of the term. Recording of attendance is not equivalent to participation. Participation grades will be assigned by each instructor according to the criteria in the Grading Policy section of the syllabus.

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: .

Course Policies

Grading Policies

Homework Overview


CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Critical Thinking                                                                                                                                                                                                                                          
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                                                                                                                                                                                                                                    
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                                                                                                                                                                                                                             
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:9/30/2008 4:37:56 PM