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EC 141 Principles of Macroeconomics
Bowen, John E.


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

S2DD 2009 DC

Faculty

Bowen, John E.

Office Location

Online

Daytime Phone

614-457-8985

E-Mail

John.Bowen@park.edu

sharonjb@ix.netcom.com

Class Days

-M-----

Class Time

5:00 - 10:45 PM

Credit Hours

3


Textbook:
THE TEXT USED ONLY FOR EC141:
Principles of Macroeconomics, 9/E,  Case/Fair, Prentice Hall, 2009.
ISBN-10: 0136058960
ISBN-13: 9780136058960

THE TEXT USED FOR BOTH EC141 AND EC142 (you save money by purchasing this text if you plan to take both EC141 and EC142.)
Principles of Economics, 9/E, Case/Fair, Prentice Hall, 2009
ISBN-10:  0136055486
ISBN-13: 9780136055488

NOTE: the text has been updated and recently changed. As long as you have the 9th edition of Case/Fair and the title is either Principles of Macroeconomics or Principles of Economics, you have the right book. DO NOT purchase a microeconomics text!

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:
Students are strongly encouraged to read the Wall Street Journal. If you do not already have access to it, you may do so through the McAfee Memoril Library as indicated below. If you prefer to subscribe, contact the instructor to obtain a student discount.

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:
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 Keynesian cross model to include showing the shift to aggregate expenditure necessary to close a GDP gap.
  3. 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 show how the AD and or AS functions would be shifted by an increase in government spending and/or a labor productivity increase.
  4. Use the AS-AD model to define cost-push inflation and demand-pull inflation. Use the AD-AS 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.
  5. Define monetary and fiscal policies. Use the monetary multipliers to show how a given change in the monetary base would cause a change in GDP. Use the fiscal multiplier to explain how a given change in government spending would change GDP.


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:
Homework to be assigned during the first class session:                                            10%    100 points

Exam Number One    (Closed book,  closed note)                                                       30%    300 points

                                                       
Exam Number Two    (Closed book,  closed note)                                                       30%    300 points

Comprehensive Final Exam   (Closed book,  closed note)                                           30%    300 points

TOTAL POINTS POSSIBLE                                                                                       100% 1000 points


Grading:
Homework to be assigned during the first class session:                                            10%    100 points

Exam Number One    (Closed book,  closed note)                                                       30%    300 points

                                                       
Exam Number Two    (Closed book,  closed note)                                                       30%    300 points

Comprehensive Final Exam   (Closed book,  closed note)                                           30%    300 points

TOTAL POINTS POSSIBLE                                                                                       100% 1000 points

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:
Late submission not permitted without prior approval or unless there is an emergency which would have made it impossible to comply with requirements.

Classroom Rules of Conduct:
Everyone is expected to be on time for all classes and remain present and alert until the class is over.

Respect and courtesy will be shown to all in the class. Disruptive behavior, working on other things during class, text messaging and cell phone calls will not be permitted. 

People are expected to maintain eye contact with the instructor and not use any device that might make such contact difficult.

Course Topic/Dates/Assignments:
Note: chapter assignments refer to the larger Principles of Economics text, the same chapters are in the smaller macro text but some have different numbers.
                                                                                                                                                                                       
CLASS NUMBER ONE: Introduction and overview. Discussion of assignments.         Chapters 1 and 2
Basic economic concepts.
                                                                                                                                                                                       
CLASSES TWO AND THREE: Market Demand and Supply, Equilibrium, and Applications  Chapters 3 and 4
                                                     Aggregate Demand and Supply, Equilibrium                 Scan Chapters 23 and 27
                                                                                                                                                                                       
CLASS NUMBER FOUR: Exam Number One. Review previous assignments and preview upcoming assignments.
                                                                                                                                                                                       
CLASSES FIVE AND SIX: Aggregate Demand and Supply, Changes in GDP,                Chapters 23 through 28,
                                              Monetary and Fiscal Policy, Relationship of U.S.                  Scan Parts 6 and 7
                                              GDP to the global economy.
                                                                                                                                                                                       
CLASS  NUMBER SEVEN: Long Run Growth in the Global Economy                             Chapters 32 and 34
                                             Exam Number Two.
                                                                                                                                                                                       
CLASS NUMBER EIGHT: Review. Comprehensive Final Exam                                       Review Above
                                                                                                                                                                                       

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:2/23/2009 7:21:39 PM