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EC 141 Principles of Macroeconomics
Onodipe, Grace O.


Mission Statement: Park University provides access to a quality higher education experience that prepares a diverse community of learners to think critically, communicate effectively, demonstrate a global perspective and engage in lifelong learning and service to others.

Vision Statement: Park University, a pioneering institution of higher learning since 1875, will provide leadership in quality, innovative education for a diversity of learners who will excel in their professional and personal service to the global community.

Course

EC 141 Principles of Macroeconomics

Semester

S1T 2012 DL

Faculty

Onodipe, Grace O.

Title

Senior Faculty

Degrees/Certificates

PhD Economics
MA Economics
BSc Economics

Office Location

Online

Office Hours

M - F 9:00am - 4:00pm EST

Daytime Phone

404 863 5001

E-Mail

grace.onodipe@park.edu

graceonodipe@yahoo.com

Semester Dates

January 16 - March 11, 2012

Class Days

TBA

Class Time

TBA

Prerequisites

None

Credit Hours

3


Textbook:

Title: Macroeconomics, Brief Edition

Author: Campbell R McConnell, Stanley L. Brue, Sean Masaki Flynn

ISBN: 978-0077230975

Publisher: McGraw-Hill

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

The Wall Street Journal (WSJ) is an excellent reference for this course. It is available at most libraries, in many offices, and other places. This resource is not required for this course, but it will enhance your understanding if you should choose to use it as a resource. Hard copy subscriptions that included the online subscription are available to you as a student at special discounted rates. You can subscribe online.

http://www.wsj.com
http://economist.com
http://www.nytimes.com
http://www.cnn.com

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.
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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:
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.  Active participation is a required element in the learning process as is 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. 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:

The final course grade will be determined using the following measurements:

  • Homework Assignments
  • Mid Term Examination
  • Comprehensive Final Examination
  • Weekly Quizzes
  • Discussion Threads
Please Note: The comprehensive final examination is a proctored closed book and closed notes exam. The use of the text, personal “laptop” computers, cell phones, programmable calculators or other similar electronic devices during examinations is prohibited. Any student who does not take the midterm examination and the final examination will not pass the course.
Proctor Forms are available starting in Week 2. The deadline for submitting the proctor form is Friday of Week 6.

Grading:
Class Assessment:

Item / Assignment
Points
Homework Assignments (16%)
160
Midterm Exam (24%)
240
Discussions (12%)
120
Final Exam (30%)
300
Quizzes (18%)
180
Total Points Possible
1000
 
Letter Grades:

1000 - 900

A

899 - 800 

B

799 - 700

C

699 - 600

D

Below 600

F

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.

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:
Weekly work must be submitted no later than Sunday midnight of each week.  

Late work will not receive full grade credit. Work not turned by the due date, but which is turned in no more then 7 days late, will receive 1/2 the score it would have received otherwise. Homework not received within 7 days of the due date will not be scored. No work received after the last Saturday of the term will be scored.

Classroom Rules of Conduct:

In this course, some people may have different opinions which you do not agree with. Be objective and respectful when responding to different points of view. Working online may make communication more difficult since you don't see each other's body language.

  1. Online communications need to be composed with fairness, honesty, and tact. Spelling and grammar are very important in an online class. What you put into an online course reflects on your level of professionalism.
  2. It is important not to take disagreement personally.
  3. Responses to different ideas and observations need to be objective. Being objective means maintaining boundaries and not making personal attacks on the ability of others or making statements that have the potential to be taken personally.
  4. An important part of online learning is discussion. Differences in thinking are good because our knowledge is broadened.
  5. Because we have differences, we will have conflict. The important thing is to handle conflict in a way that does not create defensiveness, which does not promote learning.

You can see more about core rules of netiquette at http://www.albion.com/netiquette/corerules.html. If you have questions about any of these policies, please contact your instructor.

Course Topic/Dates/Assignments:

Week Reading Assignment Activities Examinations Due Date
Week 1 Chapters 1, Appendix, and 2 Homework

Quiz

Discussion
  Sunday

Sunday

Wednesday / Sunday
Week 2 Chapter 3 Homework

Quiz

Discussion
  Sunday

Sunday

Wednesday / Sunday
Week 3 Chapter 5 Homework

Quiz

Discussion
  Sunday

Sunday

Wednesday / Sunday
Week 4 Chapter 6 Homework



Discussion

Midterm
Examination

            Sunday


Wednesday / Sunday

Week 5 Chapter 7 Homework

Quiz

Discussion
  Sunday

Sunday

Wednesday / Sunday
Week 6 Chapter 8 Homework

Quiz

Discussion
 

            Sunday

            Sunday

Wednesday / Sunday

Week 7 Chapter 9 Homework

Quiz

Discussion
  Sunday

Sunday

Wednesday / Sunday
Week 8 Chapter 10 Homework



Discussion

Final
Examination
Saturday



Wednesday / Saturday

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 2011-2012 Undergraduate Catalog Page 93

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 2011-2012 Undergraduate Catalog Page 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: Students must participate in an academically related activity on a weekly basis in order to be marked present in an online class. Examples of academically-related activities include but are not limited to: contributing to an online discussion, completing a quiz or exam, completing an assignment, initiating contact with a faculty member to ask a courserelated question, or using any of the learning management system tools.

Park University 2011-2012 Undergraduate Catalog Page 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 .



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:12/16/2011 5:47:49 PM