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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

S1T 2011 DLB

Faculty

Bowen, John E.

Office Location

Online

Office Hours

24/7

Daytime Phone

614-457-8985

E-Mail

John.Bowen@park.edu

sharonjb@ix.netcom.com

Class Days

TBA

Class Time

TBA

Prerequisites

None

Credit Hours

3


Textbook:
 

Principles of Macroeconomics (Custom Package) Author:Case. Edition/Copyright:  9TH 09 Publisher:  Pearson

Custom Type:  Paperback ISBN-10:  0-558-33050-9 ISBN-13:978-0-558-33050-7 Economics-Paul Solman DVD Author:McConnell Edition/Copyright:  08 Publisher:  McGraw-Hill Publishing Company Type: DVD ISBN-10:0-07-329140-4 ISBN-13:  978-0-07-329140-6

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:
The Wall Street Journal is highly recommended but not required. If you do wish to subscribe, you may contact the WSJ or I can take care of your request for you.

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/.
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 helpdesk@parkonline.org or call the helpdesk at 866-301-PARK (7275). To see the technical requirements for Online courses, please visit the http://parkonline.org 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:
I believe in education, not indoctrination.  Normally I will not discuss my opinions but if I do, you may disagree and still make an "A."

This is not primarily an opinion course but rather one which involves tools for analysis. Endeavor to seek truth through objective analysis even if it contradicts opinions that are popular in our society and opinions that you may have held for most of your life.

Learning Outcomes:
  Core Learning Outcomes

  1. Use the simple circular flow model to explain how the resource and product markets interact with the household and business sectors; use this model to explain why expenditures equal income in the macroeconomy.
  2. Interpret the demand and supply model to evaluate market changes in the determinants of demand and supply, and use the model to predict changes in equilibrium price and quantity.
  3. Define Gross Domestic Product (GDP), and identify the four expenditure categories in the equation GDP = C + I + G + Xn; identify the measurement and sources of economic growth.
  4. Describe the business cycle; identify the primary measure of unemployment and define “full employment”; identify the primary measure of inflation and distinguish between demand-pull and cost-push inflation.
  5. Use the Aggregate Demand and Aggregate Supply model to explain the business cycle, i.e., how and why the equilibrium price level and real GDP change in an economy.
  6. Define “expansionary” and “contractionary” fiscal policies; use the Aggregate Demand and Aggregate Supply Model to illustrate and explain appropriate fiscal policy and its impacts on the price level and real GDP.
  7. Identify the measures of the money supply; explain the structure of the Federal Reserve System and identify the major functions of the Fed; explain how money is created in the Federal Reserve System.
  8. Identify the goals and tools of monetary policy; use the Aggregate Demand and Aggregate Supply Model to illustrate and explain appropriate monetary policy and its impacts on the price level and real 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 assignments and quizzes.
  • Midterm and Proctored Final exams.
  • Participation in weekly discussion.

Grading:

 90-100%     = A
80-89%       = B
70-79%       = C
60-69%       = D
Below 60% = F


Homework                                 220 points    22%
Weekly Quiz                              120 points    12%
Discussions                                160 points    16%
Midterm Exam                           200 points    20%
Comprehensive Final Exam       300 points    30%
TOTAL POINTS POSSIBLE   1000 points  100%
Note: the final closed book and closed note exam must be proctored at a Park location if within an  hour's drive otherwise approval must be obtained for the proctor sought by the student.


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:
Late submission not permitted unless there is prior approval or a documentable emergency.

Classroom Rules of Conduct:
Courtesy and respect for others must be demonstrated at all times. It is okay to disagree but not okay to be unkind.

Course Topic/Dates/Assignments:
 

In Week One go to Introductions and review the material, including Welcome, on the Home Page. Then (under Week One) read the assignments for that week.

Each week from Week One through Week Eight there will be Discussion and Homework and each week (except for exam weeks) there will be a Quiz. Exams will be in Week 4 and Week 8.  The specific chapter assignments will be found under each week.

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 students and faculty members are encouraged to take advantage of the University resources available for learning about academic honesty (www.park.edu/current or http://www.park.edu/faculty/).from Park University 2010-2011 Undergraduate Catalog Page 92

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. from Park University 2010-2011 Undergraduate Catalog Page 92-93

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 2010-2011 Undergraduate Catalog Page 95-96

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 .

Additional Information:
Be sure to be able to always receive e-mails from your Park e-mail account. If you normally use another account, have your Park e-mails forwarded to that account.  If you ever e-mail me, I will always respond with a Reply To - i.e., the response will go to whatever account from which it was sent. Normally you will get a response within 24 hours but if you do not get a response after 48 hours I did not get your e-mail.



In an Online class, maintenance of two way communication is essential.




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:12/23/2010 8:15:38 PM