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EC 141 Principles of Macroeconomics
Janis, Bruce E.


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

S1U 2013 LUH

Faculty

Janis, Bruce E.

Title

Teacher

Degrees/Certificates

B.S. Economics , Emory University
M.B.A Yale University
Ph.D (abd) New York University

Daytime Phone

480 332 8969

E-Mail

bruce.janis@park.edu

bjanis@brucejanis.com

Web Page

http://bjanis@brucejanis.com

Semester Dates

January 14, 2013 - March 15, 2013

Class Days

--T----

Class Time

4:50 - 10:10 PM

Credit Hours

3


Textbook:
Macroeconomics: McConell, Brue, Flynn 2E 

McGraw-Hill Irwin ISBN: 978-0-07-741640-9

Additional Resources:
www.nytimes.com

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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 is one of interactiveness based on lectures, readings, quizzes, dialogues, examinations, internet, videos, web sites and writings. The facilitator will engage each learner in what is referred to as Socratic learning to encourage the lively exploration of ideas, issues and contradictions.

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:
Class assessments include regular homework assignments, two exams plus a final exam. In addition there will be a current events project and presentation due at the end of the Spring term.



Grading:

Homework Assignments (12): Worth 20 total points.
Class Preparedness: Worth 20 points
Exams (2): Worth 15 points each.
Final Exam: Worth 30 points.

Total possible points = 100.

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 Submissions are generally not permitted. Notify instructor of special circumstances that may require a late submission.

Classroom Rules of Conduct:
1. Have respect for the ideas of others

2. Speak one at a time
3. No cell phones permitted
4. No food or drink permitted in class, except for bottled water
5. Be on time for class
6. Participate prepared to actively in class
7. Adhere to seating chart

Course Topic/Dates/Assignments:
Week 1 January 15  

Welcome. Syllabus Review. Seating Chart.
 
Chapter 1: Limits, Alternatives and Choices/In Class Questions and Exercises
Chapter 1: Appendix/In Class Graphing Practice
Chapter 2: The Market System & Circular Flow/In Class Questions and Exercises
Hand Out: Test 1 Study Guide
Homework:
A. Chapter Question Set 1&2
B. Current Events Article: Choose an article that pertains to the topic of the week. Be prepared to discuss next class.
C. Read Chapter 3: Price, Quantity and Efficiency Pages 51-74
D. Read Chapter 4: Market Failures: Public Goods and Externalities Pages 75-102

Week 2 January 22
Current Events Articles and Review
Chapter 3: Price, Quantity and Efficiency Pages 51-74
Chapter 4: Market Failures: Public Goods and Externalities Pages 75-102
In Class Exercises
Review of Study Guide Questions
Homework:
A. Chapter Question Sets 3 & 4
B. Study for Exam 1

Week 3 January 29
Exam 1: Chapters 1-4
Chapter 5: GDP and Economic Growth Pages 105-133
Hand out Test 2 Study Guide Questions

Homework:
A. Chapter Question Set Chapter 5
B. Current Events Article: Choose an article that pertains to the topic of the week. Be prepared to discuss next class.
C. Read Chapter 5 GDP and Economic Growth Pages 105-133
D. Read Chapter 6 Business Cycles Pages 134 - 152

Week 4 February 5
Current Events Articles and Review
Chapter 6 Business Cycles Pages 134 - 152/In Class Questions and Exercises
Review Study Guide

Homework:
A. Chapter Question Set Chapter 6
B. Current Events Article: Choose an article that pertains to the topic of the week. Be prepared to discuss next class.
C. Read Chapter 7 Aggregate Demand & Supply Pages 153-177
D. Read Chapter 8 Fiscal Policy, Deficits and Debt Pages 178 - 203

Week 5 February 12
Current Events Articles and Review
Chapter 7 Aggregate Demand & Supply Pages 153-177
Chapter 8 Fiscal Policy, Deficits and Debt Pages 178 - 203
Review Study Guide

Homework:
Chapter Question Sets Chapters 7 and 8
Study for Exam 2

Week 6 February 19
Exam 2: Chapters 5-8
Chapter 9: Money, Banking and Financial Institutions Pages 205 - 239
Hand out Final Exam Study Guide Questions

Homework:
A. Chapter Question Set Chapter 9
B. Current Events Article: Choose an article that pertains to the topic of the week. Be prepared to discuss next class.
C. Chapter 9: Money, Banking and Financial Institutions Pages 205 - 239
D. Read Chapter 10 Interest Rates & Monetary Policy 240-261

Week 7 February 26
Chapter 10 Interest Rates & Monetary Policy 240-261
Review Final Exam Study Guide
Current Events Article Discussion

Homework:
Read Chapter 12: International Trade Pages 286 - 311

Week 8 March 5
Chapter 12: International Trade Pages 286 - 311
Prepare for Final Exam

Week 9 March 12
Final Exam


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 95-96

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 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: http://www.park.edu/disability .

Additional Information:



Bibliography:



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:12/24/2012 10:22:49 AM