EC141 Principles of Macroeconomics

for S1T 2010

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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 Macroeconomics


S1T 2010 DLH


Burnett, Misty M.


Adjunct Faculty Economics


B.S. Economics
M.A. Economics

Office Hours

By Appointment


Class Days


Class Time




Credit Hours



The Textbook for EC141 is:


Principles of Macroeconomics, 9/E, with MyEconLab access
Macroeconomics Textbook Image

Karl E. Case
Ray C. Fair

Sharon Oster

Publisher: Prentice Hall
Copyright: 2009
Format: Paper; 472 pp

ISBN: 0558330509

Or, you can purchase the textbook that combines both EC141 and EC142 (save about $100 if taking both courses):

Principles of Economics, 9/E, with MyEconLab access
Economics Textbook Image

Karl E. Case
Ray C. Fair

Sharon Oster

Publisher: Prentice Hall
Copyright: 2009
Format: Cloth; 816 pp

ISBN: 0558330495

Also Required:

VIDEO PACKAGE: We are using the videos from another textbook. You do not need this textbook, only the videos:
Sloman Video package

Paul Solman Videos DVD

(to accompany McConnell-Brue Economics 17e). McGraw Hill - Irwin Publisher.

ISBN 978-0-07-329140-6

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

Wall Street Journal:

The WSJ is an excellent reference for this course. It is available at most libraries, in many offices, and other places. While not required for this course, it will enhance your understanding of business and economics immeasurably.  The WSJ provides exceptionally low priced, special discounted rates (70% off) for students (currently 15 weeks for $29.95) that include a paper delivered to your door each day AS WELL AS the online WSJ and all of its research capabilities.

Click Here to subscribe online!  Following this link and selecting Joseph Kubec as your instructor will let the WSJ folks know you are enrolled as a student in this course. Delivery will start in a few days and they will bill you directly, usually within 3 or 4 weeks.

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 or call 800-927-3024
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:
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

Educational Philosophy:

The facilitator's educational philosophy centers around the principle that learning is an active process.  The student's ability to apply the concepts covered in class in real world settings is directly related to the student's willingness to participate actively in the class and practice concept applications.  Attendance and participation are required elements in the learning process as are practice, interaction, group discussion and idea exploration.  The facilitator believes in creating an interactive course with problems that reflect situations and scenarios encountered in the world outside the classroom.

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:

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:
    • Posting your introduction to the conference during the first week of the course.
    • Weekly discussion activities
    • Having a completed, correct proctor form received and approved by the end of week 4. There will be a link to the proctor form provided in week 1.
    • Attending class each week - meaning being active in the weekly projects.
    • 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

The work you do in this class is valued as follows:

Homework 22% 220 points
Mid Term Exam 20% 200 points
Comprehensive Final Exam 30% 300 points
Discussions 16% 160 points
Weekly Quiz 12% 120 points
     Total Points Possible 100% 1000 points

The Comprehensive Final Examination is CLOSED book and CLOSED notes and is an IN-CLASS exam, not take home.  The Proctored Final Examination must be taken at a Park University Campus Center, if the student is within a one-hour drive of that campus. 

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 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.

Late Submission of Course Materials:
  Each class week is defined as the period of time between Monday at 12:00 am and Sunday 11:59 pm (MST).  All assignments scheduled during a class week must be completed and successfully submitted by the deadline within each assignment week and no extension will be issued except as described below. The weekly Discussion must be posted no later than Wednesday midnight (MST), and all other assignments (including the response to a classmate's post) are due by Sunday midnight (MST).  Posts made after the scheduled deadlines without instructor approval will not be considered for credit.

Work that is late will only be accepted as a result of (1) an emergency that is beyond the control of the student and (2) with advance approval and acknowledgment from the professor.  A request to complete late work must be submitted in advance. Any event that is within the control of the student will not be approved, examples would be "my car broke down," or "I had to go to work unexpectedly," or "I was sick," or "my computer or internet connection wasn’t working," etc.   Servers are busy Sunday evening. If you wait until then to submit your homework, you are likely to have complications. Plan accordingly. Early completions are highly encouraged. 

With a valid and verifiable emergency, there will still be a 10% late penalty deduction regardless of the approved reason.  There will be no score for late work without advanced or emergency approval from the instructor.  Please do not wait until the last day for submission and chance an unforeseen circumstance. 

Classroom Rules of Conduct:

Any classroom conduct that disrupts the learning environment in the opinion of the instructor, will not be tolerated.  

Also remember that computers make writing and revising much easier and more productive.  Students must recognize though that technology can also cause problems.  Printers run out of ink and hard drive crash.  Students must be responsible for planning ahead and meeting deadlines in spite of technology.  Be sure to save copies of your work to disk, hard drive, and print out paper copies for backup purposes.

Courtesy and online netiquette MUST be used in all communications, private and/or public. Profanity, crude, ugly, or disrespectful language will result in a heavy loss of points and potential disciplinary actions.  (The professor can and will delete or modify any posting that violates this instruction.)

Course Topic/Dates/Assignments:

Welcome to Macroeconomics (EC 141), on line!

This course provides a thorough introduction to the field of macroeconomics. 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 provides the student with an understanding of the macro economy and the forces and organizations that influence it.

Each week we'll focus on one or two chapters in our text, Macroeconomics by Case and Fair, Ninth Edition. The following is a general guide to our course but you will want to follow the specific instructions in each weekly module online.

The first chapters listed are for the "Macroeconomics" textbook.  The chapters in parenthesis are for the combined EC141 and EC142 "Economics" textbook. Select the correct chapters based upon the textbook that you purchased.


Reading Assignment



Week 1

Chapters 1, 1 appendix, 2  (1, 1 appendix, 2)

Homework, Quiz, Discussion

Week 2

Chapters 3,4 ( 3,4 )

Homework, Quiz, Discussion

Week 3

Chapters 5,6, (20.21)

Homework, Quiz, Discussion

Week 4

Chapters 7, 8 (22,23)

Homework, Discussion

Midterm Examination

Week 5

Chapters 9,10 (24.25)

Homework, Quiz, Discussion

Week 6

Chapters 11,12 (26,27)

Homework, Quiz, Discussion

Week 7

Chapters 13,14 (28,29)

Homework, Quiz, Discussion

Week 8

Chapter 17 (32)

Homework, Discussion

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 2009-2010 Undergraduate Catalog Page 92

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 2009-2010 Undergraduate Catalog Page 95

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: .

Additional Information:

Online Expectations:

Self-discipline is extremely important and necessary in this online course. Students are expected to devote a minimum of five hours per week performing in the course, and a minimum of two hours per week must be online within the course threads. This is the same amount as would be spent in a physical classroom. (The professor has access to the time students spend in each unit of the course and will check it regularly.)

Reading of assigned materials (including the course text and any reading links posted by the instructor) should be completed prior to contributing to the course discussion threads and group assignments. 

Emails sent to the instructor must have the course number followed by OL (for Online) and the subject of the email in the "Subject" line.  For example: "SUBJECT:  EC141OL - Question."  Do not just click “Reply” and send an email without this identification information even if that has been a long time habit.


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:12/5/2009 9:38:26 PM