Download Principles of Macroeconomics - Southern State Community College

Southern State Community College
Curriculum Committee – April 2017
ECON 2206 – Principles of Macroeconomics
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I.
TAG: OSS005
OTM: 19943
COURSE TITLE: Principles of Macroeconomics
COURSE NUMBER: 2206
CATALOG PREFIX: ECON
II.
PREREQUISITE(S): None
III.
CREDIT HOURS: 3
LABORATORY HOURS: 0
IV.
COURSE DESCRIPTION:
This course looks at the Aggregate Economy and its effects on Businesses and
Consumers. Subjects that will be covered include the basic theory of national
income analysis, unemployment and inflation, and Monetary and Fiscal policies
of the federal government.
V.
GRADING:
Grading will follow the policy in the College Catalog:
90-100 = A
80 - 89 = B
70 - 79 = C
60 - 69 = D
00 - 59 = F
VI.
ADOPTED TEXT(S):
Economics
9th Edition
2013 David C. Colander
Irwin/McGraw-Hill Higher, Inc.
ISBN: 978-0-07-802170-1
LECTURE HOURS: 3
OBSERVATION HOURS: 0
OR
E-Book Option
ISBN: 9780078021701
Suggested Supplemental Text:
The Wall Street Journal
Online subscription address: http:/subscribe.wsj.com
VII.
COURSE OBJECTIVES:
At the completion of this course the student will be able to:
ECON 2206 – Principles of Macroeconomics
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1. Understand how economics is a social science that draws conclusions based on
hypotheses, theories, and data in order to understand human behavior
2. Understand basic macroeconomic terminology and concepts, including the
distinction between real and nominal magnitudes
3. Understand the national income accounts
4. Comprehend the nature of the business cycle
5. Comprehend the determinates of important macroeconomic variables, including
the level of income, the level of employment, the unemployment rate, the natural
rate of unemployment, the price level, the inflation rate, productivity and the rate
of interest
6. Comprehend the supply and demand for money
7. Comprehend the Federal Reserve System
8. Comprehend the development of, and be able to apply aggregate demand and
aggregate supply
9. Comprehend the effects of fiscal and monetary policies
10. Comprehend the basics of theories of macroeconomic instability
11. Comprehend unemployment and inflation tradeoffs
12. Comprehend the effects of the federal government's budget deficit
13. Comprehend the concept of long run growth and policies to affect growth
14. Comprehend comparative advantage
15. Comprehend the determinants of foreign trade flows and exchange rates, and their
effects on the domestic economy
16. Apply economic reasoning to better understand and critically evaluate real world
circumstances and events
VIII. COURSE METHODOLOGY:
Classes will consist of lectures, class discussions, small group projects, videos,
outside assignments and supplemental materials. Interactive class discussion is
encouraged and staying current on reading assignments necessary to be able to
actively participate in class discussions.
IX.
COURSE OUTLINE:
Suggested Course Outline
Week 1
Economic Growth, Business Cycles, and Structural Stagnation
Week 2
Measuring the Aggregate Economy
Week 3
The Short-Run Keynesian Policy Model: Demand-Side Policies
The Multiplier Model
Week 4
The Classical Long-Run Policy Model: Growth and Supply-Side Policies
Advances in Modern Macroeconomic Theory
Week 5
The Structural Stagnation Policy Dilemma
ECON 2206 – Principles of Macroeconomics
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Week 6
The Financial Sector and the Economy
Week 7
Monetary Policy
Week 8
Financial Crises, Panics, and Unconventional Monetary Policy
MID-TERM
Week 9
Deficits and Debt
Week 10
The Fiscal Policy Dilemma
Week 11
Jobs and Unemployment
Week 12
Inflation, Deflation, and Macro Policy
Week 13
International Financial Policy
Week 14
Macro Policy in a Global Setting
Week 15
Macro Policy in Developing Countries
Week 16
FINAL
X.
OTHER REQUIRED TEXTS, SOFTWARE, AND MATERIALS:
Suggested Supplemental Text:
The Wall Street Journal
Online subscription address: http:/subscribe.wsj.com
XI.
EVALUATION:
Students will be evaluated by the following measures:
Attendance/ Participation
Economic Project
Midterm
Final
XII.
10%
30%
30%
30%
SPECIFIC MANAGEMENT REQUIREMENTS:
Student’s Responsibility: It is the responsibility of the student to familiarize
themselves with the assigned material, prior to presentation and/or discussion. It
is the student’s responsibility to bring to the attention of the instructor, in class
any misunderstandings they may have regarding the course content. Participation
in class discussion is mandatory.
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Instructor’s Responsibility: It is the responsibility of the instructor to enhance
and expand the meaning and application of the subject matter covered in the
course. The instructor will not normally review the assigned text. The instructor
will sensitize him/herself to individual student’s educational needs and make
him/herself available for assistance.
XIII. OTHER INFORMATION:
FERPA: Please understand that your work may be seen by others. Others may
see your work when being distributed, during group project work, or if it is
chosen for demonstration purposes. There is also a possibility that your papers
may be submitted electronically to other entities, for reasons such as for
plagiarism checks.
DISABILITIES: If you have any condition or situation which will make it
difficult for you to carry out the work as outlined, please notify me as soon as
possible. Students with disabilities may contact the Disabilities Service Office,
Central Campus at 1-800-628-7722 or 937-393-3431.
KNOWLEDGE, SKILLS AND ABILITIES ENHANCED: Students
completing this course successfully can expect to improve the following
Knowledge, Skills and Abilities:

Economics — Knowledge of economics, Supply and Demand, the
financial markets, and banking.

Active Listening — Giving full attention to what other people are saying, taking
time to understand the points being made, asking questions as appropriate, and
not interrupting at inappropriate times.

Critical Thinking — Using logic and reasoning to identify the strengths and
weaknesses of alternative solutions, conclusions or approaches to problems.

Mathematics — Using mathematics to solve problems.

Speaking — Talking to others to convey information effectively.

Writing — Communicating effectively in writing as appropriate for the
needs of the audience.

Judgment and Decision Making — Considering the relative costs and
benefits of potential actions to choose the most appropriate one.

Deductive Reasoning — The ability to apply general rules to specific
problems to produce answers that make sense.

Inductive Reasoning — The ability to combine pieces of information to
form general rules or conclusions (includes finding a relationship among
seemingly unrelated events).
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