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EC 301 Intermediate 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 301 Intermediate Macroeconomics

Semester

U2DD 2009 DC

Faculty

Bowen, John E.

Office Location

Online

Office Hours

24/7

Daytime Phone

614-457-8985

E-Mail

John.Bowen@pirate.park.edu

sharonjb@ix.netcom.com

Semester Dates

June 09

Class Days

-----FS

Class Time

8:00 - 5:45 PM

Prerequisites

EC141

Credit Hours

3


Textbook:
MACROECONOMICS 11th Ed., R. J. Gordon, ISBN 0321485513, (if you have Gordon's 11th edition, you have the right book - it is the primary text for  the course but you will definitely need the supplement as well) and INTERMEDIATE MACROECONOMICS SUPPLEMENT, Soule, ISBN 007-235019-9. Not required but recommended is Rules for Writers by Hacker.

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:
Your use of the Wall Street Journal (WSJ) is strongly encouraged. It will be useful for your term paper and for keeping up to date with a very rapidly changing domestic and global economy. You can access it Online through  Park. If you want a subscription, the instructor has info about student rates. Subscriptions include both the printed and Online editions as well as access to  access to its extensive archives.

In class we may sometimes look at an article in the day's WSJ which illustrates a topic we are covering in class that same day.

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:
There has never been a time in the lives of most of us when a course was more relevant to us individually, nationally,and globally as this course is at this time.  This may be the toughest course you have ever taken and it will include formulas and graphs but the intent is not to  simply have a course that  is either difficult or easy but rather to  have one that is worthwhile now and one that will continue to be of value long after the course is over. The term  paper will play a key role in enabling you to take econ concepts and apply them to current and emerging issues.

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:
1. Closed book and closed note midterm, Friday night, second weekend.                               30%  300 points.
2. Closed book and closed note comprehensive final exam, Saturday of the last weekend.     30%  300 points.
3. Term paper (see core assessment above, will be covered in class also)                                30%  300 points
4. Homework: Text questions to be assigned in class                                                               10%  100 points
TOTAL                                                                                                                                   100% 1000 points

Grading:
1. Closed book and closed note midterm, Friday night, second weekend.                               30%  300 points.
2. Closed book and closed note comprehensive final exam, Saturday of the last weekend.     30%  300 points.
3. Term paper (see core assessment above, will be covered in class also)                                30%  300 points
4. Homework: Text questions to be assigned in class                                                               10%  100 points
TOTAL                                                                                                                                   100% 1000 points

GRADE: MINIMUM COURSE POINTS OUT OF 1000  FOR GRADE
A   =       90%   900
B    =      80%   800
C    =      70%   700
D    =      60%   600    

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:
Not permitted without prior approval unless an emergency occurs which would have made it impossible to submit an assignment on time or to obtain approval for a late submission.  Students are encouraged to discuss  in advance possible conflicts which might prevent timely submission even when conflicts are only a slight possibility.

Classroom Rules of Conduct:
The number one concern is to be respectful and considerate of others. If possible, avoid things that might distract you or others. Do not text message, use cell phones or other electronic devices during class sessions.

Course Topic/Dates/Assignments:
GORDON: PARTS 1 THRU 3 (Chs. 1 thru 9), GDP and STABILITY.                                 1st Class thru Midterm
1. Closed book and closed note midterm, Friday night, second weekend.                               30%  300 points
GORDON TEXT: PARTS 4 THRU 7 (Chs. 1 thru 9), GDP CHANGES, GLOBAL MACRO. From midterm to Final
2. Closed book and closed note comprehensive final exam, Saturday of the last weekend.     30%  300 points.
3. Term paper (see core assessment above, will be covered in class also)                                30%  300 points
4. Homework: Text questions to be assigned in class                                                               10%  100 points
TOTAL                                                                                                                                   100% 1000 points
SUPPLEMENTAL TEXT: will be referenced as needed.

Possible Federal  Reserve field trip during the course.

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:5/12/2009 9:17:27 PM