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ECON102
Macroeconomics
Instructor: Shirl Smith (primary), Andrew Sears (secondary)
Email: [email protected]
Phone: (303) 941-0375
Course Description
Students in this course will apply many of the basic tools economics use to understand the components of the U.S.
economy, analyze its current performance, evaluate predictions of future performance through economic cycles,
and assess how the U.S. is linked to the global economy via trade.
The course explains the importance of supply and demand, economic measures such as GDP, growth, employment
and inflation, and how these relate to the business cycle and the health of the economy. Students develop
knowledge of aggregate expenditures and aggregate supply and demand, in the context of the macroeconomy. In
order to complete this course, students will also develop basic graphic skills and learn how to interpret
macroeconomic statistics.
In addition to issues affecting U.S. markets, the course examines various international issues important in today's
global economy.
Degree Program Outcomes
At the conclusion of this degree program, the student will able to:
1. Demonstrate the ability to understand and apply traditional theories and concepts of business
management and the ability to do this an in depth in one area of specialty: nonprofit management,
accounting, technology or general management.
2. Understand their vocation in business and their unique identity and role within their field in a way that
maximizes their calling and enables 24/7 Christian ministry.
3. To be able to develop and grow businesses and nonprofit organizations in a way that is socially responsible
and that reflects God’s love and purposes for the world.
4. Communicate effectively and professionally in business situations through physical or virtual presence,
writing, speaking, listening, and electronic media.
5. Interpret and analyze accounting information for internal control, planning, performance evaluation, and
coordination to continuously improve business processes.
6. Integrate and apply Biblical, ethical, legal, economic and business principles into effective managerial
decision-making.
7. Demonstrate the ability to understand and apply traditional theories and concepts of a Christian liberal
arts education, equipping students with the knowledge and skills to facilitate intellectual, spiritual, and
personal growth, pursue their advanced studies, and improve the world in which they live.
ECON102 helps students learn the basic accounting principles focusing on corporate accounting in order to meet
program outcome 1, 4, 5, 6 and 7 above.
Course Objectives
After completing this course, students will be able to:
LO1: Identify and apply relevant terminology and concepts to economic issues and problems.
LO2: Describe the main goals and problems in macroeconomic analysis
LO3: Compare and contrast the free market system with other economic systems.
LO4: Analyze the public and private sectors of the U.S. economy and their relationship
LO5: Compare and contrast various macroeconomic theories
LO6: Analyze international economic activity, and use the results to predict the impact on U.S.
macroeconomic activity
LO7: Evaluate government macroeconomic policy tools, and explain how they are used to stabilize
the national economy.
LO8: Explore the use of models to understand and predict macroeconomic activity
Required Texts
McConnell, C.R., Brue, S. L. & Flynn, S.M. (2009). Macroeconomics: Principles , Problems and policies
(18th ed. NY: McGraw-Hill Irwin. ISBN:13-978-0-07-556594-7
McConnell, C.R., Brue, S. L. ,Flynn, S.M & Walstad, W. B. (2009). Study guide for use with macroeconomics
(18th ed.). NY: McGraw-Hill Irwin. ISBN: 978-0-07-336884-9
Writing Resources:
Dalhousie University Libraries. (2009, August). APA Style (6th) quick guide.
http://www.library.dal.ca/Files/How_do_I/pdf/apa_style6.pdf
University of Akron. (n.d.). Paraphrasing
http://gozips.uakron.edu/~mfjohan/module3/apahandout.pdf
Guide for Using References:
Use references in the following situations:
1. for documenting facts and data
2. for supporting comments that you make -- for instance if you are talking about leadership,
turnover, exit interviews or other HR/business concepts, find peer reviewed articles in the library
to support what you say. This tells your reader that you have been researching the literature and
that you know others have published articles on these topics.
3. for documenting and supporting statements that could be considered controversial or for
which your reader would ask “how do you know that?” This is essential for research papers. You
are not the expert in academic essays; you are building on the ideas of the authors and gurus who
have published.
4. for documenting quotations (the rule of thumb with quotations is to use only the essential
words (3-4 words) in the sentence you are quoting, not the entire sentence, and definitely not
paragraphs!) Your originality is challenged the more you quote!!
5. for documenting paraphrases (paraphrases also require a page number) or summaries of ideas
from published sources
Recommended Texts
See videos listed below as supplemental resources.
Lectures from Missouri State University on Youtube:
https://www.youtube.com/watch?v=ypEqrD7Kx_g&list=PLdLiRaajwSXRcJxAeIHjVGukaJZoJtkXz
This is a series of lectures by Tom Wyrick from Missouri State University. Each of his lectures
provides audio / visual background to help you get oriented to Macroeconomics. His course
explains what economics is and what the key elements of Macroeconomics are. Each of his
lectures are about 45 minutes. They will provide background and discussion about economics.
You will see that there are 39 lectures here. You can choose from among them if you need more
information about concepts and themes. Selected videos will accompany our work each week. You
are welcome to explore the others as needed. There are also other youtube videos on
Macroeconomics that can be very helpful. For those of you who are audio learners, you could
access these videos with your Smart Phone, tablet or computer and enhance your learning
experience.
Course Outline
Week
Assessments
Week 1:
Read: McConnell, Brue, Flynn & Walstad (2009) Chapters
1 and 2 (this study guide provides an overview of the key
themes for these chapters. Review this before reading the
textbook).
McConnell, Brue, & Flynn (2009) Chapters 1 and 2
6
--
Listen/View: Videos
3
--
3
4%
Economics:
Choices and
Decision, the
Market
System and
Circular Flow
Due Date
Est
hrs
Weigh
t
Objective #’s
1,2,3,5,8
Kahn Academy. (2016). Introduction to Economics
https://www.khanacademy.org/economics-financedomain/macroeconomics/gdp-topic/econ-intro-in-macrotutorial/v/introduction-to-economics
This video clearly describes the difference between micro and
macroeconomics. And it sets the stage for understanding
economics as a whole.
ACDCLearning (2016). Macro Unit 1 Summary- Basic Concept and
Demand/Supply
https://www.youtube.com/watch?v=JBHbwtzHfDg&list=PLD5BC72
7C84E254E5&index=1&feature=iv&src_vid=e18RXFFoL9c&annotati
on_id=annotation_3726018801#t=14m45s
Lectures from Missouri State University on Youtube:
https://www.youtube.com/watch?v=ypEqrD7Kx_g&list=PLdLiR
aajwSXRcJxAeIHjVGukaJZoJtkXz
Assignments: Discussion Board items
DB1
Describe the difference between positive and normative
economics. (chpt 1) LO1
1, 8
DB2
Describe the circular flow model. Apply it to your own life.
(chpt2) LO8
Week 2
Supply and
Demand, US
Economy:
Public and
Private, and
Global
Economy
Prepare Project 1 (See instructions at the end of this
chart)
5
Read: McConnell, Brue, Flynn & Walstad (2009) Chapters
3,4, & 5 (this study guide provides an overview of the key
themes for these chapters. Review this before reading the
textbook).
McConnell, Brue, & Flynn (2009) Chapters 3,4,& 5
6
Listen/View: Videos / Podcasts See videos
3
ACDCLeadership (2014) Macroecnomics 15 minute review.
1,2,3,5,8
-
1,2,3,4,5,6,7,8
https://www.youtube.com/watch?v=e18RXFFoL9c
(this is a unique video… Jacob Clifford quickly reviews the major
concepts and themes for Macroeconomics. What makes this
clever is that the white boxes around each of the concepts he
identifies lead to other videos that explain and expand on the
ideas. He talks really fast, but the videos are fairly short. So if
you are having trouble grasping what is happening in the
textbook, you can go to this video and click on the concept and
have him explain!
ACDCLeadership (2016) .Econ 1.6- Economic Systems: Why is
Communist China doing so well?
https://www.youtube.com/watch?v=KPpmAUk1olA&feature=iv
&src_vid=e18RXFFoL9c&annotation_id=annotation_365519297
3#t=6m32
s
ACDCLeadership (2016) Macro Unit 2 Summary: Measuring the
Economy
https://www.youtube.com/watch?v=BvqJiIGT8CE
Here Jacob illustrates the way the economy is measured using a
graph. (Be sure that you read the appendix for chpt 1 so that
you can follow the way the chart he uses was developed).
Economicurtis (2012). Supply and Demand (and Equilibrium
Price & Quanitity) - Intro to Microeconomics
https://www.youtube.com/watch?v=op70yS_7du8
Thayn, Steven (2011). The Difference between Government and
Private Sector Jobs
https://www.youtube.com/watch?v=6ln_azcKMkU
Lectures from Missouri State University on Youtube:
https://www.youtube.com/watch?v=ypEqrD7Kx_g&list=PLdLiR
aajwSXRcJxAeIHjVGukaJZoJtkXz
Assignment: Discussion Board Items and Project 1
DB 1:
Identify and briefly describe the main economic functions of
government. What function do you think is the most
controversial? Explain why. (Chpt 4) LO4 & LO7
3
4%
4,6,7
DB2:
Explain how government may interfere with free international
trade? (Chp 5) LO6
Week 3
Introductio
n to
Macroecon
omics,
Measuring
National
Income,
Economic
Growth
Complete Project 1 (See instructions at the end of this
chart)
5
Read: McConnell, Brue, Flynn & Walstad (2009) Chapters
6, 7, & 8 (this study guide provides an overview of the key
themes for these chapters. Review this before reading the
textbook).
McConnell, Brue, & Flynn (2009) Chapters 6, 7,& 8
7
1,2,3,5,8
--
1,2 ,3.5,7,8
Listen/View: See videos
2
4%
Kahn Academy (2015). GDP—Measuring national income: Circular
flow of income and expenditure. Gross domestic product.
https://www.khanacademy.org/economics-financedomain/macroeconomics/gdp-topic/
There are several videos accessible on this page. For this week
the following will enhance your reading experience:

GDP and circular flow of income and expenditures

Components of GDP

Real and nominal GDP

National income and income inequality
ACDCLeadership (2014) Macroecnomics 15 minute review.
https://www.youtube.com/watch?v=e18RXFFoL9c
(this is a unique video… Jacob Clifford quickly reviews the major
concepts and themes for Macroeconomics. What makes this
clever is that the white boxes around each of the concepts he
identifies lead to other videos that explain and expand on the
ideas. He talks really fast, but the videos are fairly short. So if
you are having trouble grasping what is happening in the
textbook, you can go to this video and click on the concept and
have him explain!)
Lectures from Missouri State University on Youtube:
https://www.youtube.com/watch?v=ypEqrD7Kx_g&list=PLdLiR
aajwSXRcJxAeIHjVGukaJZoJtkXz
3
1,2,7,8
Prepare Project 2
5
1,2 ,3.5,7,8
Read: McConnell, Brue, Flynn & Walstad (2009) Chapters
9, 10, & 11 (this study guide provides an overview of the
key themes for these chapters. Review this before reading
the textbook).
McConnell, Brue, & Flynn (2009) Chapters 9, 10, & 11
7
--
Listen/View: See videos
2
--
Assignment: Discussion Board Items
DB 1 Explain 3 of the key performance measured that are used
to keep track of the macro economy and which influence
governmental policies (chpt 6) LO2, LO7, LO8
DB 2 Describe the significance of shortcomings of GDP. What
does this mean in relation to the national economy? (chpt 7)
LO1, LO7, LO8
Week 4
Business
Cycles,
Macro
Relationshi
ps
(consumpti
on), and
Aggregate
Expenditur
es Model
ACDCLeadership (2014) Macroecnomics 15 minute review.
https://www.youtube.com/watch?v=e18RXFFoL9c
(this is a unique video… Jacob Clifford quickly reviews the major
concepts and themes for Macroeconomics. What makes this
clever is that the white boxes around each of the concepts he
identifies lead to other videos that explain and expand on the
1,2,3,5,6,7,8
ideas. He talks really fast, but the videos are fairly short. So if
you are having trouble grasping what is happening in the
textbook, you can go to this video and click on the concept and
have him explain. This will become more useful as you read your
textbook and click on the various boxes! )
Khan Academy (2016). Aggregate demand and aggregate supply.
(each of these videos is about 8min)
https://www.khanacademy.org/economics-financedomain/macroeconomics/aggregate-supply-demand-topic
There are several videos here that will provide additional depth
for topics on: (Select these short video for chpt 9)
Historical circumstances explained by the supply
model
The Business Cycle
Monetary and Fiscal Policy
Keynsian thinking.
Khan Academy(2016). Inflation (Series of short videos on
aspects of inflation)
https://www.khanacademy.org/economics-financedomain/core-finance/inflation-tutorial (goes with chpt 9)
Khan Academy (2016) Unemployment Rate Primer and Phillips
curve
https://www.khanacademy.org/economics-financedomain/macroeconomics/inflation-topic/phillips-curvetutorial/v/unemployment-rate-primer#! (goes with chpt 9)
Khan Academy (2016) Income and expenditure: Keynesian cross
and IS_LM Model https://www.khanacademy.org/economicsfinance-domain/macroeconomics/income-and-expendituretopic (goes with chpt 10)
Lectures from Missouri State University on Youtube:
https://www.youtube.com/watch?v=ypEqrD7Kx_g&list=PLdLiR
aajwSXRcJxAeIHjVGukaJZoJtkXz
3
1,2,6,7
Prepare Project 2 (See instructions at the end of this
chart)
5
1,2 ,3.5,7,8
Read: McConnell, Brue, Flynn & Walstad (2009) Chapters
12, 13, & 14 (this study guide provides an overview of the
key themes for these chapters. Review this before reading
the textbook).
McConnell, Brue, & Flynn (2009) Chapters 12, 13, & 14
7
Assignment: Discussion Boards Items
DB1:
Explain the Investment Demand Curve and describe the six
factors that can influence the rate of return on investment (chpt
10) Use your own words. LO1, LO2, LO7
DB 2:
In relation to international trade, describe what net exports
means and how that affects our economy. (Chpt 11). LO1, LO6
Week 5
Aggregate
Demand,
Fiscal
Policy and
Money
/Banking
--
1,2 ,3, 5,7,8
Listen/View: See videos
Khan Academy (2016). Aggregate demand and aggregate supply.
(each of these videos is about 8min)
https://www.khanacademy.org/economics-financedomain/macroeconomics/aggregate-supply-demand-topic
2
There are several videos here that will provide additional depth
for topics on:
Aggregate demand and aggregate supply
Monetary and Fiscal Policy
Keynesian thinking
Missouri State University (2013). Money and Banking: Lecture 1
- Money and the Economy
https://www.youtube.com/watch?v=etsCGT542AI
QuickiEconomics (2012). Macroeconomics: Aggregate Demand
Curve https://www.youtube.com/watch?v=sGDZ0oehDL8
No Bull Economics Lessons (2013). Top 10 AP Macroeconomics
Exam Concepts To Know
https://www.youtube.com/watch?v=v4dmUrUqvWs
Lectures from Missouri State University on Youtube:
https://www.youtube.com/watch?v=ypEqrD7Kx_g&list=PLdLiR
aajwSXRcJxAeIHjVGukaJZoJtkXz
3
1,2,3,7
Complete Project 2(See instructions at the end of this
chart)
5
1,2 ,3, 5,7,8
Read: McConnell, Brue, Flynn & Walstad (2009) Chapters
15, 16, & 17 (this study guide provides an overview of the
key themes for these chapters. Review this before reading
the textbook).
McConnell, Brue, & Flynn (2009) Chapters 15, 16, & 17
7
Listen/View: See Videos
2
Assignment: Discussion Board
DB 1
Choose two (2) of the 10 leading indicators (from page 270) and
explain the impact of each if it were to predict a decline in real
GDP or a rise in real GDP. (you will have to read chpt 12 and 13
to understand how to respond to this!) LO1, LO2
DB 2
Explain how the government tries to regulate the purchasing
power of money and the role of the Federal Reserve in
controlling the supply of money. (Chpt 14) LO3, LO7
Week 6
Monetary
Issues and
Financial
Economics
Learning
Objectives
Khan Academy (2016). Monetary and fiscal policy
https://www.khanacademy.org/economics-financedomain/macroeconomics/aggregate-supply-demandtopic/monetary-fiscal-policy/v/monetary-and-fiscal-policy
Lectures from Missouri State University on Youtube:
https://www.youtube.com/watch?v=ypEqrD7Kx_g&list=PLdLiR
aajwSXRcJxAeIHjVGukaJZoJtkXz
--
1,2,3,5,7,8
3
1,2,7
Prepare Project 3 (See instructions at the end of this
chart)
5
1,2,3,5,7,8
Read: McConnell, Brue, Flynn & Walstad (2009) Chapters
18 & 19 (this study guide provides an overview of the key
themes for these chapters. Review this before reading the
textbook).
McConnell, Brue, & Flynn (2009) Chapters 18 & 19
6
Listen/View: See Videos
3
Assignment: Discussion Board Items
DB 1 Scenario: The economy is experiencing high
unemployment and a low rate of economic growth. The fed
decides to pursue and expansionary monetary policy. Which set
of actions by the Fed would be most consistent with is policy?
a. buying government securities and raising the reserve
ratio
b. selling government securities and raising the
discount rate
c. buying government securities and lowering the
reserve ration
d. selling government securities and lowering the
discount rate.
Explain your choice. Be sure to justify based upon your readings
and the videos. Use references to document and support your
points. Use your own words – do not use quotations. (Chpt 16)
LO7
DB2: What is the difference between economic investment and
financial investment (chpt 17) LO1, LO2
Week 7
Aggregate
Supply and
Macro
Theory &
Policy
ACDCLeadership (2013). Macro Unit 3, Question 10Recessionary Gap and Classical Economists
https://www.youtube.com/watch?v=jcznUi-4jw4
--
Free Econ Help (2012). What shifts the IS or LM curves?
https://www.youtube.com/watch?v=_xhAl6wH3c0
ACDCLeadership (2013). Macro Unit 3, Question 10Recessionary Gap and Classical Economists
https://www.youtube.com/watch?v=jcznUi-4jw4
Lectures from Missouri State University on Youtube:
https://www.youtube.com/watch?v=ypEqrD7Kx_g&list=PLdLiR
aajwSXRcJxAeIHjVGukaJZoJtkXz
Assignment: Discussion Board Items and Project 3
3
2,3,7,8
Complete Project 3 (See instructions at the end of this
chart)
5
1,2,3,5,7,8
Read: McConnell, Brue, Flynn & Walstad (2009) Chapters 20 & 21
6
DB 1 Explore how supply-side economics and aggregate supply
influence inflation, unemployment and economic growth. (chpt
18, Also links back to chpt 12) LO7
DB 2 What is the difference between New Classical Economics
and Keynesian Economics? ((chpt 19) LO2, LO3, LO7, LO8
Week 8
Internation
(this study guide provides an overview of the key themes for these
--
al Trade:
Balance of
Payments,
Exchange
Rates, &
Trade
Deficits
chapters. Review this before reading the textbook).
McConnell, Brue, & Flynn (2009) Chapters 20 & 21
Listen/View: See videos
ACDCLeadership (2014) Macroecnomics 15 minute review.
https://www.youtube.com/watch?v=e18RXFFoL9c
3
(this is a unique video… Jacob Clifford quickly reviews the major
concepts and themes for Macroeconomics. What makes this
clever is that the white boxes around each of the concepts he
identifies lead to other videos that explain and expand on the
ideas. He talks really fast, but the videos are fairly short. So if
you are having trouble grasping what is happening in the
textbook, you can go to this video and click on the concept and
have him explain!)
ACDCLeadership (2012) Macro 5.1 Balance of Payments
https://www.youtube.com/watch?v=W0YwGLz50TA
Press TV News Videos (2015). US trade deficit jumps to its
highest level in 6 years
https://www.youtube.com/watch?v=8nQQ4DZKa3E
ACDCLeadership (2016)Macro Unit 5 Summary- International
Trade and Foreign Exchange
https://www.youtube.com/watch?v=3mvBJvQQMKs
Lectures from Missouri State University on Youtube:
https://www.youtube.com/watch?v=ypEqrD7Kx_g&list=PLdLiR
aajwSXRcJxAeIHjVGukaJZoJtkXz
Assignment: Discussion Board Items
DB1: Explain the importance of competitive advantage. (chpt 20)
LO1, LO2, LO4, LO7
5
1,2,3,4,6,7
DB2: How does the government influence the Balance of
Payments (chpt 21) LO1, LO2, LO5
DB3: How are international exchange rates determined?
(chpt21) LO1, LO2, LO6, LO7
DB4: Describe the most useful concepts that you have learned
from this class.
Overall
Total estimated hours based upon 17 hours per week for
8 weeks
135
100%
Projects: The three projects provide the opportunity for exploration of vocabulary, concepts,
models, graphs & charts and developing essays on specific ideas. Each project is worth 200 points.
Responses should follow the Writing Guidelines in the syllabus. In addition, intext citations should be
used to identify the source of the information. Quotations are not allowed. All material is to be
written in your own words. Note that the informal use of “I” or “we” or “you” is not acceptable.
Project 1: This project is based upon the readings and videos for weeks 1 and 2. There are four parts.
The project is due at the end of week 2.
Part 1. Vocabulary LO1
Choose 3 terms from the Terms and Concepts at the end of each of the following chapters
(1,2,3,4,5). You should end up with a total of 15 terms/concepts. Using your own words describe
what each one means and give an example.
(Do not use any of the concepts listed in part 2 below)
Part 2: Concepts and Models LO2
Carefully review the appendix at the end of Chpt 3. Using 3 or 4 sentences, explain the each of the
following concepts. Be sure to give examples:
Models
Economic principles
Graphical Expression
Macroeconomics
Law of Demand
Law of Supply
Scarcity
Part 3: Charts and Predictions LO8
Carefully review the appendix for chpt 1.
Complete Key Appendix Question #3 on page 27 of the text (Be sure to respond to each
element of the task.)
Part 4: Compare and Contrast Essay Length: 250 words (1 page double spaced)LO3, LO5
Compare and contrast the Market system with the Command System. Explain the differences
between the two approaches to economic systems using your own words. Please use references to
document your sources. Do not use quotations.
Project 2: This project covers material from chapters 6,7,8,9,10, and 11. It is due end of week 5
Part 1: Vocabulary LO1
Choose 4 terms from the Terms and Concepts at the end of each of the following chapters (6, 7, 8,
9, 10, 11) You will have a total of 18 terms. Describe each term using your own words, provide an
example and include intext citations to document your source. (Do not use any of the concepts
listed in part 2 below)
Part 2: Concepts /Theories L02, LO7
Using 2 or 3 sentences, explain each the concepts. Be sure to give examples:
 Business cycle
 Human capital
 Okun’s Law
 Natural Rate of Unemployment
 Inflationary expenditure gap
 Multiplier Effect
 Keysnian economics
 Fiscal Policy
Part 3: Charts and Predictions L08
Be sure that you read chpt 10 carefully and examine the various charts and graphs (especially
those on pages 191 and 197).
Then respond to the following items:
 Why does the marginal propensity to save rise as disposable income rises.
 Describe the formulas for MPC and MPS.
 Explain how the slope for disposable income in Figure 10.3 was determined to be .75.
Part 4: Essay: 250 words (one page double spaced) LO3, L05
Compare and contrast two points of view on economic growth by discussing this question: Is more
economic growth desirable and sustainable?
(last section of chpt 8)
Also review the Khan Videos •
https://www.khanacademy.org/economics-financedomain/macroeconomics/gdp-topic/
•
GDP and circular flow of income and expenditures

Components of GDP
•
Real and nominal GDP
•
National income and income inequality This set expands on the topic very well.
Listen to the following interview:
Library of Economics and Liberty http://www.econlib.org/index.html
Podcast:
Project 3: This project covers chapters 12, 13,14,15,16,17, 18, and 19. Due at the end of week 7.
Part 1: Vocabulary LO1
Choose 3 terms from the Terms and Concepts at the end of each of the following chapters (13, 14,
15, 16, 17, 18, 19) You will have a total of 21 terms. Describe each term using your own words,
provide an example and include intext citations to document your source. (Do not use any of the
concepts listed in part 2 below)
Part 2: Concepts /Theories L02, LO7
Using 2 or 3 sentences, explain each the concepts. Be sure to give examples:
Aggregate demand curve
Expansionary fiscal policy
Financial Services Industry
Money multiplier
Equilibrium GDP
Security Market Line
Supply side economics
Real Business Cycle Theory
New Classical economics
Monetarism
Part 3: Charts and Predictions L08
Aggregate Demand Curve and Aggregate Expenditures Model (Appendix chpt 12)
After reading chpt 12 and appendix for chpt 12
Carefully explain this statement:
“A change in the price level shifts the aggregate expenditures curve but not the aggregate
demand curve.”
Use no more than 200 words. Include an explanation of at least one formula in your discussion. Be
sure to use your own words.
Part 4: Essay: 250 words (one page double spaced) LO3, L05, L08
In what way does the Phillips Curve help to explain the relation between inflation and
unemployment? What additional information does the long range Phillips Curve add to this
discussion? (chpt 18)
Forum Expectations
We expect that students will spend an estimated one-two hours to post one initial message, one hour to read posts
from 5+ students (presumes that a student doesn't read every post), and an estimated 1 hour to post two reply
messages. Forum grading will be based on the following items:
 Forum posts should be 200-400 words although these are not strict limits.
 Students must demonstrate comprehension of the material and achievement of the related learning
objectives related to that forum. Be sure to read the learning objectives.
 Students should demonstrate critical thinking and use outside material researched beyond the assigned
readings.
 The goal of course forums is to have scholarly dialog among peers combining both the strengths of inperson class discussion and providing concise, professional quality writing (similar to a well thought-out
academic or scholarly blog) and responding in a way that adds value to others writings
 Students are not required to use APA format for references in forum posts, but instead students are
encouraged to hyperlink relevant information when possible.
 Grading rubric: forums use the same high level grading rubric as for the final project including
o Content Knowledge (25%)
o Critical Thinking (25%). Note that critical thinking is very different from criticism.
o Communication (25%)
o Application (25%)
Written Work
Except for Class Forum posts, all written assignments should be double-spaced using 11-point font and 1-inch
margins, and include a relevant heading (name, date, assignment title), and subheadings where appropriate, which
can be viewed in a Navigation Pane. Multi-page assignments should also include page numbers. Please correct
spelling and grammatical errors before submitting all assignments. Spelling, grammar, and writing style will be
taken into consideration in evaluating written work. Assignments should be submitted to the Course Dropbox
within Moodle. Every assignment should carry a filename that MUST include your name (Student Name) and the
assignment number, e.g. Jan_Smith_Minor1.doc
Written work must be reflective, balanced, scholarly analysis and be well-supported by references. Students should
be able to reflect and critically examine issues from many points of view.
Very informal or highly opinionated writing styles will be severely penalized. Do not preach.
Late Policy
Coursework is scheduled over a seven-day week to provide structure for students residing on six continents. The
weekly schedule begins on Monday at 12:01AM US ET (USA Eastern Time), and ends on Sunday at 11:59PM US ET.
●
●
●
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Assignments submitted more than 1 week late (after the following Sunday) will lose 1 letter grade (i.e. "A"
becomes a "B")
Assignments submitted more than 2 weeks late will lose 2 letter grades (i.e. "A" becomes a "C")
All assignments and quizzes must be submitted by the week after the term ends or they will receive a
failing grade
Extensions: professors may grant an extension if the student has a prolonged sickness or major family
crisis. The length of the extension is up to the professor’s discretion.
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Applications for an extension should be sent to the professor at least 2 or more days before the due actual
date. Extensions must be after a course ends submitted via the online extension request form. If an
extension is granted, no other courses may be taken until that course is completed.
Week Eight is the last class session with assignments posted. All course work must be completed by the student
and submitted to the instructor by Friday of the tenth week of the course. No credit will be given for work
submitted after this date.
This syllabus is subject to change without notice up until the first day of the semester. For more academic policies,
please visit: http://www.cityvision.edu/cv/academic-policies
Course Grading Chart
Grade
Significance
Quality Points
Percentage
A
Excellent
4.0
95-100
3.67
90-94.99
3.33
87-89.99
B
3.00
84-86.99
B-
2.67
80-83.99
2.33
77-79.99
C
2.00
74-76.99
C-
1.67
70-73.99
D+
1.33
67-69.99
D
1.00
64-66.99
AB+
C+
Good
Average
D-
Passing
0.67
60-63.99
F
Failure
0.00
<59.99
Class Deliverables
Team Discussions
Projects (#1, #2, #3)
Total Points =
8 x 50 = 400
3 x 200 = 600
1000
Projects: The three projects provide the opportunity for exploration of vocabulary, concepts,
models, graphs & charts and developing essays on specific ideas. Each project is worth 200 points.
Responses should follow the Writing Guidelines in the syllabus. In addition, intext citations should be
used to identify the source of the information. Quotations are not allowed. All material is to be
written in your own words. Note that the informal use of “I” or “we” or “you” is not acceptable.
Project 1: This project is based upon the readings and videos for weeks 1 and 2. There are four parts.
The project is due at the end of week 2.
Part 1. Vocabulary LO1
Choose 3 terms from the Terms and Concepts at the end of each of the following chapters
(1,2,3,4,5). You should end up with a total of 15 terms/concepts. Using your own words describe
what each one means and give an example.
(Do not use any of the concepts listed in part 2 below)
Part 2: Concepts and Models LO2
Carefully review the appendix at the end of Chpt 3. Using 3 or 4 sentences, explain the each of the
following concepts. Be sure to give examples:
Models
Economic principles
Graphical Expression
Macroeconomics
Law of Demand
Law of Supply
Scarcity
Part 3: Charts and Predictions LO8
Carefully review the appendix for chpt 1.
Complete Key Appendix Question #3 on page 27 of the text (Be sure to respond to each
element of the task.)
Part 4: Compare and Contrast Essay Length: 250 words (1 page double spaced)LO3
Compare and contrast the Market system with the Command System. Explain the differences
between the two approaches to economic systems using your own words. Please use references to
document your sources. Do not use quotations.
Project 2: This project covers material from chapters 6,7,8,9,10, and 11. It is due end of week 5
Part 1: Vocabulary LO1
Choose 4 terms from the Terms and Concepts at the end of each of the following chapters (6, 7, 8,
9, 10, 11) You will have a total of 18 terms. Describe each term using your own words, provide an
example and include in-text citations to document your source. (Do not use any of the concepts
listed in part 2 below)
Part 2: Concepts /Theories L02, LO7
Using 2 or 3 sentences, explain each the concepts. Be sure to give examples:
 Business cycle
 Human capital
 Okun’s Law
 Natural Rate of Unemployment
 Inflationary expenditure gap
 Multiplier Effect
 Keynesian economics
 Fiscal Policy
Part 3: Charts and Predictions L08
Be sure that you read chpt 10 carefully and examine the various charts and graphs (especially
those on pages 191 and 197).
Then respond to the following items:
 Why does the marginal propensity to save rise as disposable income rises.


Describe the formulas for MPC and MPS.
Explain how the slope for disposable income in Figure 10.3 was determined to be .75.
Part 4: Essay: 250 words (one page double spaced) LO3, L05
Compare and contrast two points of view on economic growth by discussing this question: Is more
economic growth desirable and sustainable?
(last section of chpt 8)
Also review the Khan Videos •
https://www.khanacademy.org/economics-financedomain/macroeconomics/gdp-topic/
•
GDP and circular flow of income and expenditures

Components of GDP
•
Real and nominal GDP
•
National income and income inequality This set expands on the topic very well.
Listen to the following interview:
Library of Economics and Liberty http://www.econlib.org/index.html
Podcast:
Project 3: This project covers chapters 12, 13,14,15,16,17, 18, and 19. Due at the end of week 7.
Part 1: Vocabulary LO1
Choose 3 terms from the Terms and Concepts at the end of each of the following chapters (13, 14,
15, 16, 17, 18, 19) You will have a total of 21 terms. Describe each term using your own words,
provide an example and include intext citations to document your source. (Do not use any of the
concepts listed in part 2 below)
Part 2: Concepts /Theories L02, LO7
Using 2 or 3 sentences, explain each the concepts. Be sure to give examples:
Aggregate demand curve
Expansionary fiscal policy
Financial Services Industry
Money multiplier
Equilibrium GDP
Security Market Line
Supply side economics
Real Business Cycle Theory
New Classical economics
Monetarism
Part 3: Charts and Predictions L08
Aggregate Demand Curve and Aggregate Expenditures Model (Appendix chpt 12)
After reading chpt 12 and appendix for chpt 12
Carefully explain this statement:
“A change in the price level shifts the aggregate expenditures curve but not the aggregate
demand curve.”
Use no more than 200 words. Include an explanation of at least one formula in your discussion. Be
sure to use your own words.
Part 4: Essay: 250 words (one page double spaced) LO3, L05, L08
In what way does the Phillips Curve help to explain the relation between inflation and
unemployment? What additional information does the long range Phillips Curve add to this
discussion? (chpt 18)