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SYLLABUS
Tulsa Community College
Metro Campus Fall T-Th 11:30- 2015
Course: Principles of Macroeconomics Econ 2013- 104 CRN: 12104
Day(s) and Time(s): Internet
Dates: Aug 17- Dec 11, 2015
Campus T-Th- 11:30am-12:50pm.
Course Delivery Method: On-
Instructor: Chelsey Gipson-Smith
TO CONTACT THE DIVISION OFFICE:
Email: [email protected]
Division: Business & Information Technology
Office Phone: 918. 595.7354
Associate Dean: Mitchell Ober
Mobile Phone: 918-401.0484
Office: MC 416
Office: Metro 435
Phone Number: 918- 595-7039
Office Hours: Monday 9am-1pm, Tues & Thurs 8:30-10am, Wed 9:30-1pm, or by appt.
COURSE PREREQUISITES:
None
COURSE DESCRIPTION:
This course is an introduction to the functioning and problems of the aggregate economy.
Major topics include: Supply and Demand, Scarcity and shortages, Production Possibilities,
Economic Goals and Measurements, Fiscal Policy, Monetary Policy, the Federal Reserve and
Banking system, and international trade. Students will be instructed in both the science and art of
economic analysis.
NEXT COURSE(S) IN SEQUENCE:
Eco 2023 Principles of Microeconomics
TEXTBOOKS, SUPPLIES, & OTHER RESOURCES:
Title: Economics Today 18th Edition by Roger LeRoy Miller, etext and access to myeconlab may be
purchased at pearsonmylabandmastering.com, OR AT TCC CAMPUS BOOKSTORE. IT IS THE
STUDENT’S CHOICE TO HAVE THE ETEXT OR PAPER TEXT WITH ACCESS TO MYECONLAB.
STUDENTS MAY REGISTER WITH FREE TEMPORARY ACCESS UNTIL THE TEXTBOOK CAN BE
PURCHASED.
COURSE OBJECTIVES:
Upon successful completion of this course students should be able to understand basic
macroeconomic theories and how they are used to analyze economic problems. Students should
also understand economic terms and economists’ analysis and policy recommendations. Students
should understand the following terms and concepts:
The Nature of Economics- Scarcity, Trade-offs, Three economic questions, Opportunity
cost, Resources, Private vs. public goods and services, Positive vs normative analysis,
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Macroeconomics vs microeconomics, Production Possibilities Frontier, Law of Diminishing
Marginal Returns, Law of Increasing Cost, Circular Flow
Diagram, Responding to incentives PBS Commanding Heights video-Agony of Reform,
(Why is economics important?), The “isms” defined, Socialism, Capitalism, Fascism,
Communism
*economic history of the United States
The Market Mechanism, Price System- Interaction of buyers and sellers to determine price
and quantity exchanged, Demand-law of Demand, Determinants of Demand, Change in
Demand vs. Change in Quantity Demanded, Supply- Law of Supply ,
Determinants of Supply, Change in Supply vs. Change in Quantity Supplied, Consumer
Surplus, Producer Surplus, Price floors, Price ceilings,
Measuring Economic Growth- Gross Domestic Product, Expenditures Approach, Income
Approach, Limitations of GDP, Depreciation, Net Domestic Product, Nominal Values, Real
Values, Per Capita GDP, Comparing Per Capita GDP- Purchasing Power Parity
The Macroeconomy- Business cycle, Unemployment, Historical Unemployment, Types of
unemployment, Full Employment and the National Rate of Unemployment,
Inflation, Demand Pull vs Cost Push, hyperinflation, disinflation, deflation, Consumer Price
Index,
Classical and Keynesian Economic Analysis, The Aggregate Market- Adam Smith,
Invisible Hand Theory, Laissez Faire, Long, Supply Side Economics, The Classical Model,
Say’s Law, John Maynard Keynes, Keynesian Economics, Short-Run Aggregate Supply Curve,
Shifts in the Aggregate Demand Curve,
Consumption, Real GDP and the Multiplier-Savings and Consumption, Determinants of
Consumption and Savings in Keynesian Model, Marginal Propensity to Consume, Total
Expenditures Curve, Equilibrium Real GDP, Marginal Propensity to Save, Average Propensity
to Consume and Save, Determinants of Investment,
Savings and Investment: Planned vs. Actual, The Multiplier Formula, The Multiplier Effect,
Government Involvement- Fiscal Policy, Supply-Side Fiscal Policy vs. Keynesian Fiscal
Policy , Potential Problems with Fiscal Policy, Systems of Taxation, Tax Rate, Tax Revenues
Deficit Spending, Methods of Financing Public Debt, Correcting for externalities, Economic
Functions of Government, Public Spending and Transfer Programs,
Money and Banking, The Federal Reserve System, Monetary Policy- Functions of
Money, Money creation Financial Intermediation, Required Reserves, Reserves, Excess
Reserves, Potential Deposit Multiplier, U. S. Government Securities, Functions of the Federal
Reserve System, The Actual Money Multiplier, Tools for Controlling the Money Supply, Open
Market Operations, Changing the Reserve Requirement, Changing the Discount Rate,
Monetary Policy, Velocity of Money
Global Economics, International Trade, Exchange Rates, Balance of PaymentsEconomic development, Why nations trade, Comparative Advantage, Benefits from
international trade, Trade restrictions- tariffs and quotas, Move toward freer trade,
Determining Foreign Exchange Rates, Fixed vs. Floating Rates, International Capital
Movements, International Monetary Fund, Brief Economic History of the United States
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Coursework:
All assignments and exams will be completed on the Pearson website. Due dates are posted with
each assignment. Coursework may be completed prior to due date, but not after. You will get
immediate feedback on each assignment. No late work is accepted.
Weekly discussion questions will be completed via Blackboard Discussion tab.
EVALUATION TECHNIQUES:
Students will acquire points through:
Exams & Homework
= 558 points via Pearson MyEconlab
Weekly Discussion Questions/Participation
=150 points via Blackboard
Final essay/exam Assessment
= 40 points
via Blackboard
Total Points =748
Final GRADING:
Your grade will be based on total points earned as follows:
A= 630-700 (90%)
B= 560-629 (80%)
C= 490-559 (70%)
D= 420-489 (60%)
F= 419 or less total points
Note*** You can earn up to 748 points. Your total points are taken out of 700. This is to your
benefit. If you miss an assignment, or do not do as well as you wished on a couple of
assignments, you have so extra points possible built in.
See the Agenda for the weekly assignments, exams and due dates.
NO LATE ASSIGNMENTS AND MAKE-UP EXAMS:
Waiting until the last minute and then experiencing a technical difficulty does not allow you to
submit the assignment late. Failure to submit the assignment properly through
Pearson/MyEconlab will result in a zero for the assignment.
Course Withdrawal: The deadline to withdraw from a course shall not exceed ¾ the duration of
the any class. Contact the Counseling Office at any TCC campus to initiate withdrawal from a
course ('W' grade) or to change from Credit to Audit. Check the TCC Academic Calendar for
deadlines. Students who stop participating in the course and fail to withdraw may receive a
course grade of “F,” which may have financial aid consequences for the student.
COMMUNICATION:
Email: All TCC students receive a designated TCC Outlook email address (ex:
[email protected]). All email communications to you will be sent to your TCC email address;
and you must use MyTCC email to send email to, and receive email from, the instructor regarding
this course. Please DO NOT send emails from your home or business email addresses to your
instructors. Use your TCC Email address.
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I will not respond to emails that are sent from non-TCC Outlook email address for several reasons:
·
When you use your TCC email, the system lets me know who you are and the class you are
in which allows me to respond faster,
·
To protect your privacy in the event your person email is hacked, and
·
Reduce the possibility of spreading viruses.
You may forward your TCC email to another email account if you know how to do so. However,
the emails to me must still come from the TCC email address.
You may contact me by telephone during office hours or anytime by email. I will attempt to
respond to emails received Sunday through Wednesday, no later than the next business day.
Emails received Friday through Saturday will be replied to by the following Monday. (I will check
emails on weekends as my schedule allows and respond as quickly as possible.) Be advised,
though, that during peak times of the semester, I may not be able to respond as quickly due to
the volume of messages.
Sometimes I will receive several emails in a close time period about the same issue. I will respond
with an email to all students via a Blackboard announcement, so that all students will receive the
clarification, rather an individual responses.
You may also contact me in my office at 918.595.7354. This will work best during my regularly
scheduled office hours. I may be with a student or teaching a class on campus, and unable to
answer my phone, so please leave me a message and I will respond within 24 hours MondayFriday.
BLACKBOARD
Your reading assignments, video lecture links and ancillary reading materials, problem sets and
announcements will be posted on the blackboard site for this course. All assignments are
submitted through Blackboard. Current periodicals for supplementary reading may also be posted.
You should check this site daily week.
GENERAL EDUCATION GOALS: General Education courses at TCC ensure that our graduates
gain skills, knowledge, and abilities that comprise a common foundation for their higher education
and a backdrop for their work and personal lives. TCC’s General Education goals are: Critical
Thinking, Effective Communication, Engaged Learning, and Technological Proficiency.
DISABILITY RESOURCES: It is the policy and practice of Tulsa Community College to create inclusive
learning environments. Accommodations for qualifying students in compliance with the Americans with
Disabilities Act (ADA) and Section 504 of the Rehabilitation Act are available. To request accommodations,
contact the Education Access Center (EAC) at [email protected] or call (918) 595-7115 (Voice). Deaf and
hard of hearing students may text (918) 809-1864.
ACADEMIC DISHONESTY: Academic dishonesty (cheating) is defined as the deception of
others about one’s own work or about the work of another. Academic dishonesty or misconduct is
not condoned or tolerated at campuses within the Tulsa Community College system. Tulsa
Community College adopts a policy delegating certain forms of authority for disciplinary action to
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the faculty. Such disciplinary actions delegated to the faculty include, but are not limited to, the
dismissal of disrespectful or disorderly students from classes. In the case of academic dishonesty a
faculty member may:
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Require the student to redo an assignment or test, or require the student to complete a
substitute assignment or test;
Record a "zero" for the assignment or test in question;
Recommend to the student that the student withdraw from the class, or administratively
withdraw the student from the class;
Record a grade of "F" for the student at the end of the semester. Faculty may request
that disciplinary action be taken against a student at the administrative level by
submitting such a request to the Dean of Student Services.
INSTITUTIONAL STATEMENT: Each student is responsible for being aware of the information
contained in the TCC Catalog, the TCC Student Policies & Resources Handbook, and semester
information listed in the class schedule. All information may be viewed on the TCC website:
www.tulsacc.edu
TENTATIVE COURSE CALENDAR:
See Course Agenda in Content Tab for detailed assignment and exam information. Course calendar
subject to change at instructor’s discretion:
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