EC141 Principles of Macroeconomics

for S1J 2013

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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.


EC 141 Principles of Economics I (Macro)


S1J 2013 DN


Simcoe, Robert


Adjunct Faculty


M.B.A Park University
B.A. Management & Marketing Park University
Project Management Professional (PMP)

Office Location

In Classroom

Office Hours

15 Minutes Prior to Class Starting

Daytime Phone



Web Page

Semester Dates

January 14 - March 10

Class Days


Class Time

5:30 - 10:00 PM

Credit Hours



  • Edition:2ND 13
  • Publisher:MCG
  • ISBN: 9780077416409
  • Textbooks can be purchased through the MBS bookstore

    Textbooks can be purchased through the Parkville Bookstore

    Additional Resources:
    Colored pencils or pens, and calculator

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    Course Description:
    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 economic growth.

    Educational Philosophy:

    The purpose of this course is to provide students with the skills that are necessary for doing applied work in macro economics.   In order to accomplish that goal, the teacher must facilitate learning and the student must learn the required materials.  This requires feedback from the student to the teacher.  This feedback occurs in written work and classroom discussion.   

    The class is structured around lecture, with classroom time for assignment work and group discussion.

    The assignment work is intended to assess what students know and what they are uncertain about. The assignments and reports are graded liberally and based on effort while the examinations are graded on achievement.

    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:
    Exams, Reports and Class Evaluations


    •   50 : Mid Term Assignment 10%
    • 100 : Mid Term Test  - 20% (In Class Closed Book/Notes)
    • 100 : Final Assignment ( Essay/Graphing of economic models)- 20.%
    • 150 : Final Test - 30% - (In Class Closed Book/Notes)
    •   50 : Reports - 10%
    •   50 : In class/Homework Assignments - 10%
    • Total points for the class: 500
      • Grading:90% and above is an A
      • 80% and above is a B
      • 70% and above is a C
      • 60% and above is a D
      • Below 60% is an 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.

    Late Submission of Course Materials:
    Make arrangements with instructor.
    A student that misses an examination is allowed to make up the examination.  The make up examinations will be a different set of questions than that of the in class examinations and will be taken at the Testing Center at the home campus. Students are expected to complete the make up exam with in a time frame coordinated and agreed to by the instructor.

    Classroom Rules of Conduct:

    We are in a professional academic environment and I would expect everyone to act in a well behaved adult manner respecting the fact that we are all in attendance to learn.   
    Notes and materials are posted weekly to the online classroom docsharing.  Students are expected to print the materials and be prepared for class.
    Laptops/Computers will not be used in this class.  The textbook and notes should suffice for the classroom environment. Students wishing to use a laptop for notetaking will be asked to sit in the back of the classroom.    

    Course Topic/Dates/Assignments:


    Date : Chapter

    01/16/13 - Intro to Economics and The Market System 

    01/23/13 - Demand, Supply and Market Equilibrium

    01/30/13 - Report / Measure Domestic Output, Business Cycle, Taxation

    02/06/12 - Lecture /Report / Mid Term

    02/13/13 - Report / The Aggregate Expenditures Model

    02/20/12- Report/  Aggregate Demand and Supply

    02/27/13 - Report / Money Supply/ Banking  

    03/06/12 –(make-up Report) Final

    Weekly Reports: Five weekly reports will be due beginning with the class 01/30/13 ending with class 02/27/13. Students have the option to skip one report and turn in the final fifth report on the last night of class. Each report will consist of the student reading and summarizing an article pertaining to economics from a current publication

    . The report should be turned in at the beginning of class.

    Each report should include:

    1. Students Name

    2. Name and Date of the Publication

    3. Name of the Article

    4. Paragraph Summary of the Article

    5. Brief reaction to the Article

    One article (5th Report) may be assigned by the instructor. The Topic will be discussed in class and support materials will be distributed.

      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 ( or Park University 2011-2012 Undergraduate Catalog Page 95-96

      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 95

      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 98

      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: .


      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:11/27/2012 8:18:09 AM