Syllabus Entrance
Printer Friendly
Email Syllabus

EC 301 Intermediate Macroeconomics
Welles, Henry


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 301 Intermediate Macroeconomics

Semester

S1A 2012 BE

Faculty

Welles, Henry

Title

Senior Adjunct Instructor

Degrees/Certificates

B.A. Centre College
M.P.Aff. The Lyndon B. Johnson School of Public Affairs at The
University of Texas at Austin

Office Location

Room 206

Office Hours

Before and After Class

Daytime Phone

512/491-1368

E-Mail

Henry.Welles@park.edu

Web Page

http:// N/A

Semester Dates

1/17/12-3/8/12 Drop 1/23/12 Withdrawal 2/19/12

Class Days

--T-R--

Class Time

5:10 - 7:50 PM

Prerequisites

EN 105, EN 106, WCT, 60 credit hours

Credit Hours

3


Textbook:
Gordon, Robert. Macroeconomics, 12th edition. Prentice Hall, 2012. ISBN 0-13-801491-4

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

Appleby, Joyce. The Relentless Revolution. New York: W.W. Norton, 2010.
      ISBN 978-0-393-06894-8.
Ferguson, Niall. Civilization.  New York: The Penguin Press, 2011. ISBN 978-1-59420-305-3.
Friedman, Benjamin M. The Moral Consequences of Economic Growth. New York: Alfred A.
     Knopf, 2005. ISBN 0-679-44891-8.
Keynes, John Maynard. The Economic Consequences of the Peace. (1920) New York: Penguin, 1988.
      ISBN 0-14-011380-0.
__________________.  The General Theory of Employment, Interest and Money. (1936) New York:
      Harvest/HBJ, 1964. ISBN 0-15-634711-3.
Morris, Ian. Why the West Rules -- For Now. New York: Farrar, Straus and Giroux, 2010
       ISBN 978-0-374-29002-3.
Sidelsky, Robert. Keynes: The Return of the Master. New York: PublicAffairs, 2009. ISBN 978-1-58648-827-7.
Sorkin, Andrew Ross. Too Big Too Fail. New York: Penguin, 2010. ISBN 978-0-14-311824-4.
 
The Economist
The New York Times
The Wall Street Journal
 

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:
The facilitator's educational philosophy is one of interactiveness based on lectures, readings, dialogues, examinations, class discussions, presentations and writing. The facilitator will engage each learner in what is referred to as disputatious learning to encourage the lively exploration of ideas, issues and contradictions.

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:
Examinations, presentations, core assessment paper, class participation.

Grading:

Midterm Examination                              300 points
Final Examination                                    300 points
Core Assessment Paper                          300 points
Class Presentation                                     50 points
Class Participation                                     50 points
 
Total:                                                     1,000 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 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 material will be marked down.

Classroom Rules of Conduct:

1. Come to class on time.
2. Provide suitable documentation for any missed classes.
3. Examinations will be made up at instructor's discretion.

Course Topic/Dates/Assignments:

1. What is Macroeconomics?/January 17/Chapter 1.
2. The Measurement of Income, Prices & Unemployment/January 19/Chapter 2.
3. Income & Interest Rates; Strong & Weak Policy Effects in the IS-LM Model/January 24/Chapters 3-4.
4. Financial Markets, Regulation & Economic Stability/January 26/Chapter 5.
5. The Government Budget; International Trade/January 31/Chapters 6-7.
6. Aggregate Demand, Aggregate Supply & The Great Depression/February 2/Chapter 8.
7. Inflation; Goals of Stabilization Policy/February 7/Chapters 9-10.
8. Midterm Examination/February 9
9. Economic Growth; Big Questions on Economic Growth/February 14/Chapters 11-12.
10. Money, Banks & the Federal Reserve/February 16/Chapter 13.
11. Monetary Policy; Consumption Behavior/February 21/Chapters 14-15.
12. The Economics of Investment Behavior/February 23/Chapter 16.
13. New Classical Macro & New Keynesian Macro/February 28/Chapter 17.
14. Conclusion: Where We Stand/March 1/Chapter 18.
15. Class Presentations/March 6.
16. Final Examination/March 8.

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.

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 .

Additional Information:
N/A



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. 

Copyright:

This material is protected by copyright
                               and can not be reused without author permission.

Last Updated:12/17/2011 4:07:58 PM